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NCF targets 25% Nigeria’s forest rise in 30 years

Nigerian Conservation Foundation has said that through its Green Recovery initiative, it aims to increase Nigeria’s forest cover to at least 25 per cent over the next 30 years. It disclosed this on Friday in a statement titled ‘Keystone Bank and NCF collaborate on tree planting’. The NCF also stated that in commemoration of the...

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FG addresses challenges slowing down Lagos-Ibadan Expressway project

The Federal Government has said that it is dealing with the challenges of compensation payment and relocation of services slowing down Lagos-Ibadan Expressway rehabilitation and reconstruction project. The Permanent Secretary, Federal Ministry of Works and Housing, Alhaji Babangida Hussaini, said this during a technical inspection of roads in Lagos. While noting that the speed of...

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Diaspora community helping to fill industry knowledge gap — Oyetunji

After 10 years as the Group Managing Director of Continental Reinsurance Plc, Dr Femi Oyetunji’s, will soon retire from the company. In this interview with NIKE POPOOLA, he speaks on some developments in the company and the need to boost reinsurance capacity in Africa What was your main challenge when you joined Continental Reinsurance as...

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FG to rehabilitate burnt Lagos Airport link bridge

The Federal Government has said it will soon begin the rehabilitation of the burnt Lagos Airport link bridge. The Permanent Secretary, Federal Ministry of Works and Housing, Alhaji Babangida Hussaini, said this during a technical inspection of roads and housing projects in Lagos. The Airport link bridge was gutted by a tanker fire in January...

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Naira slumps further, exchanges for 485/$

The naira slumped further as it exchanged to a dollar for 485 at the parallel market on Friday, after starting the week at 483/$. At the Investor & Exporter forex window, the exchange rate hit a high of N412/$ before closing at N410.05. The Central Bank of Nigeria recently disclosed that the naira depreciated at...

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Naira slumps further, exchanges for 485/$

The naira slumped further as it exchanged to a dollar for 485 at the parallel market on Friday, after starting the week at 483/$. At the Investor & Exporter forex window, the exchange rate hit a high of N412/$ before closing at N410.05. The Central Bank of Nigeria recently disclosed that the naira depreciated at...

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N3.5bn debt: AMCON takes over Centage Savings and Loans’ assets

The Asset Management Corporation of Nigeria says it has taken over 13 prime assets linked to Centage Savings and Loans Limited and its Chief Promoter, Mr Johnson Ndukwe, over an indebtedness of over N3.5bn. It said this followed the order of Honourable Justice C.J. Aneke of the Federal High Court Lagos Division. The corporation said...

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Emefiele, Otteh, Ahmad want more women in leadership positions

The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has urged stakeholders in private and public organisations to ensure all round gender development and equal opportunities in order to increase the number of women in leadership positions in Nigeria and across the world. Emefiele gave the charge at a commemorative webinar hosted by the bank’s...

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CBN defends naira with $5.62bn in three months

The Central Bank of Nigeria injected $5.62bn into the foreign exchange market in the fourth quarter of 2020 as part of efforts to ensure the stability of the naira. This was an increase of N1.25bn from $4.37bn intervention in the economy by the banking regulator in the third quarter. The CBN disclosed this in its...

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LIRS seeks voluntary compliance with tax returns

The Lagos State Internal Revenue Service has urged all taxable persons in Lagos State to file their individual annual tax returns for 2021 year of assessment in accordance with the provisions of Section 41 of the Personal Income Tax Act LFN 2004 as amended. It said this in a statement on Thursday signed by the...

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DMO lists N162.56bn Sukuk bond on NSE

Nike Popoola The Debt Management Office said on Thursday that it listed its third sovereign Sukuk, N162.557bn seven-year 11.200 per cent AL Ijarah Sovereign Sukuk due 2027, on the Nigerian Stock Exchange and the FMDQ Securities Exchange. It said this in a statement on its website titled ‘Listing of N162.557bn 7-Year 11.200 per cent Al...

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CBN to issue N570.4m treasury bills in Q2

Nike Popoola The Central Bank plans to issue treasury bills worth N570.4m in the second quarter. It disclosed this on its website on Thursday on ‘Nigeria treasury bills issue programme for second quarter’. It also said maturing bills in the period would total N570.4m. The CBN disclosed it would issue N92.05m 91-day bills; N79.65m 182-day...

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Wema Bank launches gender loan offer

Wema Bank Plc said it has launched a special gender discount loan offering to mark the 2020 International Women’s Day. It said in a statement on Wednesday title ‘IWD 2021: Wema Bank celebrates women, launches special gender loan offerings’ that this was part of its commitment to supporting women. The Divisional Head, Retail Business, Wema...

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Savings, pensions critical to national development –Uduanu

The Managing Director, Sigma Pensions, Mr Dave Uduanu, has said that short term and long-term savings are critical to developments of economies in the world. According to a statement on Wednesday titled ‘Uduanu: Savings, pensions critical to national development’, Uduanu said this during a virtual media engagement organised by the Junior Achievement Nigeria, where participants...

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Sterling Bank upgrades digital solution for businesses

Sterling Bank Plc has said it recently upgraded SterlingPro, its market-leading digital banking solution,to give corporate and business banking customers a competitive edge at all times. A statement on Wednesday titled ‘SterlingPro now delivers dream banking experience for businesses’ said this was important as COVID-19 was proving that digital banking was no longer optional. The...

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External reserves drop by $523m in two weeks

 Nigeria’s external reserves dropped by $523m to $34.475bn as of March 16 from $34.998bn as of March 1, figures from the Central Bank of Nigeria revealed on Wednesday. The reserves, which had continued a downward trend of recent, lost $1.1bn in February, after it dropped from $36.19bn as of February 1 fell to $35.09bn as...

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Foreign exchange inflow rises to $23.60bn

Aggregate foreign exchange inflow into the country in the fourth quarter of 2020 rose to $23.60bn from $21.46bn in the third quarter, figure from the Central Bank of Nigeria revealed on Tuesday. The CBN stated in its report on ‘Foreign exchange flows through the economy’ for the fourth quarter that though there was an increase...

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FG clears N6.2bn arrears of 16,210 pensioners

The Pension Transitional Arrangement Directorate in charge of the administration of pensions of federal retirees under the Defined Benefits Scheme said it paid N6.2bn arrears to 16,210 pensioners. It disclosed this in a statement on Tuesday titled ‘PTAD clears pension arrears of 16,210 pensioners, pays N6.2bn’ that this amount included those paid to next of...

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Zenith Bank rewards shareholders with N94.19bn dividend

Zenith Bank Plc has said it will reward its shareholders with improved dividend payout of N94.19bn. It said that during its 30th annual general meeting in Lagos, its shareholders unanimously approved the proposed final dividend of N2.70 per share, bringing the total dividend payment for the 2020 financial year to N3 per share with a...

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Nigeria’s inflation rises again, hit four-year high February

 The consumer price index which measures inflation increased by 17.33 per cent (year-on-year) in February 2021. The National Bureau of Statistics on Tuesday revealed this in its report on Consumer Price Index for the month of February. This marked the highest figure recorded in the country since 2017. According to the NBS, the February rate...

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