Thursday, July 11, 2019

Oluseyi Awojulugbe

    FG cancels ALL foreign printing contracts for Nigerian passports

FG cancels ALL foreign printing contracts for Nigerian passports

President Muhammadu Buhari has cancelled all e-passport printing contracts abroad, saying that it will now be the sole responsibility of the Nigerian Security Printing & Minting Company (NSPMC).Femi Adesina, special adviser to the president on media and publicity, made this known in a statement released on Thursday.This new directive means all existing contracts concerning printing passports and other documents will [...]

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    CBN says banks will no longer get interests for deposits above N2bn

CBN says banks will no longer get interests for deposits above N2bn

The Central Bank of Nigeria says banks will no longer get interests on deposits above N2 billion.In a circular released by the financial markets department, the apex bank said the monetary policy committee will determine the interest for standing deposit facility of N2 billion."With reference to the circular to all banks and discount houses, Re: Guidelines on accessing the CBN [...]

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    NNPC: It’s very difficult for us to make fuel available at N145

NNPC: It’s very difficult for us to make fuel available at N145

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    ‘They were contract staff’ — Ecobank speaks on rumoured mass sack

‘They were contract staff’ — Ecobank speaks on rumoured mass sack

The management of Ecobank Nigeria has denied claims that it disengaged a large number of its staff.In a statement released on Wednesday, the bank said the people affected were contract staff adding that it decided not to renew the contract of its third party recruitment agencies.According to its management, Ecobank said it was not under any obligation to renew its [...]

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    REVEALED: Lagos revenue in 2018 was higher than that of the entire south-east

REVEALED: Lagos revenue in 2018 was higher than that of the entire south-east

The total revenue received by the Lagos state government in 2018 was higher than what was received by the entire south-east region.The south-east region consists of five states namely: Abia, Anambra, Ebonyi, Enugu and Imo.Lagos generated total revenue of N501.2 billion while the entire south-east region generated N340.1 billion.The state's 2018 revenue was also higher than that of the northeast [...]

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    MTN Nigeria slashes data prices

MTN Nigeria slashes data prices

MTN Nigeria says that it has reduced the price of internet data for consumers on its network.Addressing journalists at the company headquarter in Lagos on Wednesday, Rahul De, MTN's chief marketing officer, said the slash was a result of the need to provide better value for customers."With the faster internet speeds delivered by the launch of 4G+, this data price [...]

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    Nigeria adds N560bn debt in three months

Nigeria adds N560bn debt in three months

Figures released by the Debt Management Office (DMO) on Wednesday shows that the country's debt has increased by N560 billion.According to the DMO, the total debt stock as of March 31, 2019, stood at N24.9 trillion compared to the N24.3 trillion as of December 31, 2018.The debt document released by the DMO showed that the CBN exchange rate of N306.95/$ [...]

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    Airtel Africa lists 3.7bn shares on NSE, adds N1.3trn to market cap

Airtel Africa lists 3.7bn shares on NSE, adds N1.3trn to market cap

Airtel Africa listed a total of 3,758,151,504 ordinary shares on the Nigerian Stock Exchange on Tuesday, joining MTN Nigeria on the bourse.The shares, which were listed at an offering price of N363 per ordinary share, closed at N399.30 per share.The listing added N1.36 trillion to the market capitalisation of the exchange.Commenting on the listing, Oscar Onyeama, chief executive officer of [...]

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    Retiring in 2020? PenCom has begun verification exercise

Retiring in 2020? PenCom has begun verification exercise

The National Pension Commission (PenCom) has begun the verification and enrolment exercise for federal government workers who are due to retire in 2020.Olakunde Olugbenga, team lead of PenCom verification in Port Harcourt, told NAN that the exercise is for prospective retirees in Rivers and Bayelsa.He said the exercise holding in 15 centres across the country was to enable prospective retirees [...]

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    For signing AfCFTA, Nigeria will get a share of Afreximbank’s $1bn grant

For signing AfCFTA, Nigeria will get a share of Afreximbank’s $1bn grant

The African Export-Import Bank (Afreximbank) says it is providing a grant of $1 billion to African countries to support the implementation of the African Continental Free Trade Area agreement (AfCFTA).President Muhammadu Buhari signed the agreement on Sunday at the AU summit that held in Niamey.Benedict Oramah (pictured), the president of the bank, made this announcement in an interaction with heads [...]

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    CBN: Nigeria’s poultry industry now worth N1.6trn

CBN: Nigeria’s poultry industry now worth N1.6trn

The Central Bank of Nigeria (CBN) says the poultry sub-sector is the most commercialised of all Nigeria’s agricultural sub-sectors with a current net worth of N1.6 trillion.Godwin Emefiele, governor of the apex bank, made this known at a meeting with vice-chancellors of universities on the University-Based Poultry Revival Programme in Abuja on Monday.Emefiele, represented by Okwu Nnanna, the CBN deputy [...]

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    Mele Kyari promises to repair all refineries before 2023

Mele Kyari promises to repair all refineries before 2023

Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), says he would work towards getting the nation's four refineries working at optimal performance by 2023. [...]

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    ANALYSIS: Is CBN’s new lending policy good for banks and manufacturers?

ANALYSIS: Is CBN’s new lending policy good for banks and manufacturers?

Upon the Central Bank of Nigeria's announcement of a new lending policy for the commercial banks, stakeholders and analysts in the financial and manufacturing sector have held up the policy to a microscope, examining its pros and cons.In a letter signed by Ahmad Abdullahi, director of banking supervision, the apex bank had directed that banks must increase their lending to [...]

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    Air Peace begins flights on Lagos-Dubai route

Air Peace begins flights on Lagos-Dubai route

Air Peace has expanded its flight operations to include the Lagos-Sharjah-Dubai route.The airline’s first long-haul flight was scheduled to depart Murtala Muhammed International Airport in Ikeja at 8.00p.m. to arrive in Dubai at 5.00a.m. on Saturday.Sabiu Zakari, permanent secretary in the federal ministry of transportation (aviation), commended the airline for its expansion efforts.Zakari, who was represented by Hassan Musa, director [...]

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    Adeboye on Fatoyinbo: You’ll be exposed if you continue sinning under ‘grace’

Adeboye on Fatoyinbo: You’ll be exposed if you continue sinning under ‘grace’

Enoch Adeboye, the general overseer of the Redeemed Christain Church of God (RCCG), says Christians who continue living in sin under the guise of grace will be exposed.Adeboye made this statement on Friday night in light of the allegations of sexual immoralities being levelled against pastors, the most recent being Biodun Fatoyinbo, senior pastor at the Commonwealth of Zion Assembly [...]

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    Busola Dakolo finally files rape complaint against Fatoyinbo

Busola Dakolo finally files rape complaint against Fatoyinbo

Busola Dakolo, a celebrity photographer, who accused Biodun Fatoyinbo, senior pastor of the Commonwealth of Zion Assembly (COZA), of raping her has filed a legal complaint.In a video interview that has now gone viral, Dakolo, who is the wife of Nigerian singer, Timi Dakolo, alleged that the pastor had sexual relations with her when she was 16 going on 17 [...]

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Exchange Rates

July 08, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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