Economy

Nigerian govt unveils management, board members of new Development Bank

The Federal Ministry of Finance on Thursday announced details of members of the board and management of the newly licensed Development Bank of Nigeria, DBN. The management team is led by Tony Okpanachi, a banker and erstwhile Deputy Managing Director/Deputy CEO, Ecobank Nigeria Limited. Before his appointment as Managing Director/ CEO of Development Bank of Nigeria, he was the Deputy ...

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Abuja Airport Runway Now 57.5% Completed – Lai Mohammed

The reconstruction of the runway of the Nnamdi Azikiwe International Airport, Abuja, has reached 57.5% completion, mid-way into the six weeks earmarked for the project, the Minister of State for Aviation, Senator Hadi Sirika, disclosed in Abuja on Thursday. “Work is going on smoothly as you can see. We have taken you round and everything is in order,” Senator Sirika ...

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Buhari Sacks 5 Directors Over Illegal Recruitment

Following reports of illegal recruitment exercise into the federal civil service, the federal government led by President Muhammadu Buhari has given the nod to the dismissal of five directors at the Pension Transitional Arrangement Directorate (PTAD). The five directors were sacked with immediate effect. The directors sacked are Godson Ukpevo of the Civil Service Pension Department; Uloma Uruakpa of Custom, ...

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Ekiti Petrol Stations’ license revocation: DPR backs Fayose, flays marketers violating regulations

The Department of Petroleum Resources(DPR), a regulatory body for petroleum activities in Nigeria has backed Governor Ayo Fayose on his recent clampdown on some fuel marketers in the state which has resulted in his revocation of the licenses of some of them who were found to have violated regulations guiding the siting of the peterol stations. Frowning at the development, ...

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Heritage Bank empowers 600 women across Nigeria on International Women’s Day

Victoria Hanson   Heritage Bank Limited, Nigeria’s most innovative banking services provider, has empowered over 600 women across the country as part of activities to mark the International Women’s Day tagged: “Be Bold for Change.”   The bank organised a training programme with theme: Emerging Female Entrepreneurs Forum for women in Benin, the Edo state capital, Ibadan, the Oyo State ...

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Let’s partner for progress – NIMASA DG urges Nigerians

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has urged Nigerians to partner with the Agency to ensure a virile maritime industry as the activities of the Agency impact on the lives of all Nigerians. 

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N6B Vehicle Rot In Customs Warehouses.

RAYMOND TEDUNJAYE, Lagos Seized vehicles with Duty Paid Value worth over N6b are rotting in various customs warehouses and premises across the country following the suspension of auction by the service management since August 2015. The vehicles numbering over two thousand units most of which were seized by Nigeria Customs Service as part of its anti smuggling drive have started ...

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Nigeria’s debt profile now N17.36tln, says Debt office

By Abimbola Fashakin, Lagos The Director-General of the Debt Management Office (DMO), Dr Abraham Nwankwo said that the nation’s total debt profile as at December 31, 2016 was 57.39 billion dollars (N17.36 trillion).

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FG secures 1bn dollars funding from SPDC to develop Niger Delta — Osinbajo

By Wahab Akanji, Abuja The Federal Government has secured funding of over 1 billion dollars from Shell Petroleum Development Company (SPDC) to develop the Niger Delta region, acting President Prof. Yemi Osinbajo, has announced.

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Dogara assures, says recession will soon be over

By Wahab Akanji, Abuja Speaker of the Federal House of Representatives, Mr. Yakubu Dogara has said that the Federal Government has put necessary measures in place to end the recession being experienced in the country.

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