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Travelex, ABCON target $20b diaspora remittances in new partnership

Travelex, ABCON target $20b diaspora remittances in new partnership

Travelex Nigeria and the Association of bureaux De Change Operators of Nigeria (ABCON) are scripting a strategic partnership that will enable the nation’s Bureau de Change (BDC) operator to access the more than $20 billion yearly Diaspora remittances into the ...

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Crude Oil Price Drops by 1% over Excess US Inventories

Oil prices to steady at $72.50 in Q2 on cuts, U.S. sanctions

Oil prices sank about one per cent Wednesday after a United States government data showed that the country’s crude stocks unexpectedly rose last week as exports slowed due to a chemical spill at the country’s busiest energy port. While the ...

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Exporters bemoan N5000 per kilo of produce tariff charge

Exporters bemoan N5000 per kilo of produce tariff charge

Exporters in the Airfreight business have decried the exorbitant tariff charges imposed by the Nigerian Agricultural Quarantine Service on agricultural produce, saying the agency charges as hgh as N5000 per kilo of goods. They disclosed that due to the ridiculous ...

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‘Why Africa’s regional trade remains low’

‘Why Africa’s regional trade remains low’

*How private sector participation can connect markets, enhance competitiveness, others *Fidelity reaffirms support for Nigerian exporters and MSMEs With Africa’s working population of over 600 million people set to be doubled by 2040, the continent is positioned to become the ...

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Reactions trail Central Bank of Nigeria’s rates cut

Nigeria has receded, Emefiele declares

Reactions have continued to trail Tuesday’s reduction of Monetary Policy Rate (MPR) to 13.5 per cent by the Central Bank of Nigeria (CBN) after holding at 14 per cent for 32 months. Addressing journalists after its Monetary Policy Committee (MPC) ...

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Automotive council laments $8b yearly import of used vehicles

Automotive council laments $8b yearly import of used vehicles

Seals pact with Volkswagen, scripts financing scheme The National Automotive Design and Development Council (NADDC) has vowed to put a stop to yearly importation of more than 400,000 used vehicles, estimated at $8 billion, as such practice negates efficiency, safety and ...

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RMBN reaffirms commitment to India-Africa trade

RMBN reaffirms commitment to India-Africa trade

Rand Merchant Bank Nigeria (RMBN) has restated commitment to the development of trade between India and Africa, thereby extending its services to about 50,000 Indian businesses in the country, in particular. This is coming as the bank expanded its operations ...

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ECA advocates review of extractive industry agreements in Nigeria, others

ECA advocates review of extractive industry agreements in Nigeria, others

Natural resource-rich African countries should consider revising existing agreements with multinational corporations operating in their countries to see that they derive maximize returns from such contracts. Countries should also enhance transparency and accountability in the industry to combat rampant cases ...

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CBN tweaks 32-month-old policy rate, opts for growth

CBN limits daily standing deposit facility to N2 billion

The Central Bank of Nigeria (CBN) yesterday took local and international investors by surprise, cutting the 32-month-old Monetary Policy Rate (MPR) by 0.5 per cent to 13.5 per cent. The new economic direction for the next two months has already ...

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Fair to leverage technology, innovation for SME development

Fair to leverage technology, innovation for SME development

Connect Nigeria has announced plans to expose and equip thousands of small and medium enterprises (SMEs) to social and technological innovation to grow their businesses. The Chief Executive Officer, Connect Nigeria, Emeka Okafor, explained that lack of access to fund ...

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N142 Billion Needed For New Airport Terminals – FG

N142 Billion Needed For New Airport Terminals - FG

The Federal Government has told the Senate that an additional $461.8 million (N141.31 billion) was required for new terminals across the country. Minister of State, Aviation, Hadi Sirika, who disclosed this when he appeared before the Senate Committee on Aviation ...

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Air Peace Decorates New Captains, Insists On High Safety Standards

Air Peace Decorates New Captains, Insists On High Safety Standards

AIR PEACE has elevated two members of its flight crew; Mr. Oluwasegun Fatonade and Mr. William Devine to the rank of captain. Speaking during the decoration at Air Peace Corporate Headquarters in Lagos, the carrier’s Chairman/Chief Executive Officer, Mr. Allen ...

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NAAPE Organizes Safety Workshop

National Association of Aircraft Pilots (NAAPE) is organizing a forum with stakeholders to discuss safety and is setting up annual aviation safety awards which the body is planning for both public and private entities in the aviation industry. The workshop ...

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SAHCO deploys new ground equipment to boost operations at PH airport

SAHCO Wins Best Ground Handling Company Award

Skyway Aviation Handling Company PLC (SAHCO) has deployed a state-of-the-art Ground Support Equipment (GSE) to boost operations at its Port Harcourt station. The equipment is a High loader Air Marrel (LAM 35); a 35 tonnes capacity self-propelled heavy-duty main deck ...

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Nigeria showcases $48 billion upcoming oil, gas projects to investors

Nigeria showcases $48 billion upcoming oil, gas projects to investors

• Seek paradigm shift as contribution to GDP shrinks The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday said $48billion oil and gas investment opportunities have been identified in the country. Speaking on ‘Insights on Future ...

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‘Insurance penetration in Nigeria less than one per cent’

2.5m workers at risk as governors shun group life policy

•Firm’s chief wants government to increase on compulsory insurance Non-Executive Director and Interim Chairman, Board of Directors, African Alliance Insurance Plc, Anthony Okocha, has said the sector’s penetration in Nigeria has remained on a very low level. According to him, ...

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Dangote Refinery inaugurates skills acquisition programme

Dangote Refinery inaugurates skills acquisition programme

As part of efforts aimed at making youths from its host communities employable, Dangote Petroleum Refinery and Petrochemicals Company has flagged off a vocational training scheme that will inculcate necessary skills in the young men and women from Ibeju-Lekki area. ...

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‘Tax reforms hold $72b in extra revenue for Nigeria, others’

‘Tax reforms hold $72b in extra revenue for Nigeria, others’

• OPS faults VAT increment, opts for widening of tax net Nigeria and other African countries could increase tax revenue by as much as $72 billion or 4.6 per cent of Gross Domestic Product (GDP) yearly if comprehensive tax reforms ...

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Nigeria Customs Service rakes in N1.4 billion at Seme border

Nigeria Customs Service rakes in N1.4 billion at Seme border

The Nigeria Customs Service (NCS), Seme Command, said it generated about N1.4 billion from trade across the border in the last two months. The Controller, Seme Command, Mohammed Uba, who disclosed this during the parade of some seized items in ...

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Buhari gets minimum wage panel report, promises prompt action

Buhari gets minimum wage panel report, promises prompt action

• Meets APC govs, senators-elect  President Muhammadu Buhari yesterday received the report of the Bismarck Rewane-led Presidential Advisory Committee on New National Minimum Wage with a pledge to act promptly on the document.The panel was inaugurated on January 19, 2019 ...

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