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Solvency Ratio Report False, Misleading –NAICOM

By   /  May 9, 2018  /  Business Update  /  No Comments

The National Insurance Commission (NAICOM) has said that a recent media report (not Economic Confidential) titled “solvency of 5 Insurers fall below regulatory threshold”, was not only false but misleading and out of tune with the extant laws and present realities. In a statement signed and circulated by the Deputy Director and Head of Corporate […]

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UBA Disrupts Future Of Payments For Smes, Introduces Master Pass QR Bot In Partnership With Mastercard

By   /  May 6, 2018  /  Business Update  /  No Comments

Gives Customers Freedom to Shop Across Devices, Channels   Pan African Financial institution, United Bank for Africa (UBA) has again disrupted the e-payment space with the introduction of Master Pass ‘Quick Response’ (QR) Bot. The revolutionary solution enables the micro, small and medium enterprises (MSMEs) in Nigeria and across Africa to receive digital payments from […]

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National Assembly To Pass 2018 Budget Next Week

By   /  May 4, 2018  /  Business Update  /  No Comments

From its earlier announced April 24th date to pass the 2018 budget which it failed to meet, the National Assembly has announced that it will pass the money bill next week.   Chairman of the House of Representatives Committee on Media and Publicity, Abdulrazak Namdas, told media correspondents that the 2018 appropriation bill will be […]

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CBN, Chinese Bank Sign Currency Swap Agreement

By   /  May 3, 2018  /  Business Update  /  No Comments

The Central Bank of Nigeria (CBN) wishes to announce the execution of a bilateral currency swap agreement with the Peoples Bank of China (PBoC). The Governor of the CBN, Mr. Godwin Emefiele, led CBN officials while PBoC Governor, Dr. Yi Gang, led Chinese team at the official signing ceremony in Beijing, China, on Friday 27th […]

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CBN Boosts Forex Market With $210 Million

By   /  May 3, 2018  /  Business Update, Uncategorized  /  No Comments

The Central Bank of Nigeria (CBN), on Wednesday, May 2, 2018, injected the sum of $210 million into the inter-bank Foreign Exchange market in continuation of its efforts to sustain liquidity in the market.   The apex Bank offered the sum of $100 million to authorized dealers in the wholesale segment of the market. The […]

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UBA Holds 2018 Chairman’s Forum, Seeks Strengthening Of Corporate Governance Across Board

By   /  May 1, 2018  /  Business Update  /  No Comments

Pan- African financial Institution, United Bank for Africa Plc, last thursday,  ended its annual Group Chairman’s Forum, a platform for group integration, re-strategising and knowledge sharing with the overall aim of puting the bank on firm standing to actualize its goals and targets for the financial year.   The theme of this year’s forum was […]

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National Sugar Development Council Organizes Workshop For Industrialists In Jigawa

By   /  April 26, 2018  /  Business Update  /  No Comments

Usman Abubakar Adamu The National Sugar Development Council of Nigeria has organized a northern region sugar sensitization workshop for sugarcane producers with a view to sensitizing the agricultural industrialists in the country. The workshop which was organized by the National Sugar Development Council in collaboration with the Jigawa State Government is aimed to educate the […]

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There Is No Crisis In Abuja Investments Company Ltd– Management

By   /  April 25, 2018  /  Business Update  /  No Comments

The Abuja Investments Company Limited (AICL) has reacted to what it described as sponsored campaigns of mischief and falsehood in some local and national dailies titled; Crisis rocks Abuja Investments Company Limited. According to a statement by Mrs. Omobolanle Olatunde, Member IMT/ Head, Corporate Services, there was no plan to sack 80% of the workforce […]

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Plateau Generates N3.09 Billion Internally Generated Revenue In Q1 2018

By   /  April 25, 2018  /  Business Update  /  No Comments

The Plateau Government on Tuesday declared N3.09 billion Internally Generated Revenue (IGR) in the first quarter of 2018.   Mr Dashe Arlat, the Chairman, Plateau State Internal Revenue Service (PSIRS), made this known in an interview with the News Agency of Nigeria (NAN) in Jos.   Arlat said that revenue collected during the period was […]

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First Quarter 2018: Lagos IGR Hits N103 Billion, Spends N93 Billion on Capital

By   /  April 25, 2018  /  Business Update  /  No Comments

The Lagos State Government on Tuesday said its internally generated revenue for the first quarter of Y2018 stood at N103.476billion, as against N96.7billion recorded in the previous year, thereby accounting for 81 per cent of the total revenue of N141billion generated in the quarter. Commissioner for Economic Planning and Budget, Mr. Segun Banjo who disclosed […]

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