Truth Is Treasure
Fidelity Bank Plc. on Sunday announced the appointment of Mr Mustafa Chike-Obi as the Chairman of the bank. Chike-Obi, who is currently Executive Vice Chairman at Alpha African Advisory, has over 40 years of experience in investment banking and the financial services sector. In a statement in Lagos, Fidelity Bank said that
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By Mathew Dadiya, Abuja The Nigerian National Petroleum Corporation (NNPC) yesterday, announced new appointments and redeployments in the Corporation. The exercise, the Corporation said was part of ongoing efforts to strengthen and reposition the nation’s oil company for greater efficiency, transparency and profitability in line with the Next Level Agenda of President
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By Mathew Dadiya, Abuja Trading on the floor of the Nigerian Stock Exchange (NSE) maintained its downward trend as Market Capitalization of listed equities declined by N115 billion or 0.89 per cent to N12.715 trillion from N12.830 trillion reported. The NSE All Share Index also depreciated by 220.65 basis points to 24374.40
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By Mathew Dadiya, Abuja Money Deposit Banks in Nigerian face shortage of foreign exchange as they struggle to close $5 billion demand gap especially with the reopening of the economy and resumption of local flights operations. One of the global rating agencies, Moody’s in its latest forecast, said that the shortage in
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The Petroleum Products Pricing Regulatory Agency (PPPRA), has fixed the pump price band of Premium Motor Spirit (PMS), also known as petrol at between N140.80 and N143.80 per litre for the month of July. Executive Secretary of the Agency, Abdulkadir Saidu disclosed this in a memo to all Petroleum Products
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By Tony Obiechina, Abuja The Federal Government has moved to recover a backlog of unremitted revenues accruing to it through the Stamp Duty Tax in the last six years, after making N66 billion within year 2020. The government disclosed this on Tuesday at the official inauguration of the Inter-Ministerial Committee on Audit and
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By Mathew Dadiya, Abuja The Federal Government has stopped the Nigerian Electricity Regulatory Commission (NERC) and its Distributing Companies (DisCos) from electricity tariff hike earlier planned to commence today. This was sequel to two separate meetings held yesterday by President Muhammadu Buhari and Vice President Yemi Osinbajo with the leadership of the
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By Mathew Dadiya, Abuja President Muhammadu Buhari, has flagged-off the construction of the 614km Ajaokuta-Kaduna-Kano (AKK) gas pipeline contract awarded at a cost of US$2.592 billion, an equivalent of N1 trillion. The Engineering, Procurement, Construction (EPC) contract for the project was awarded to Messrs. Oilserv Plc/China First Highway Engineering Company (Oilserv/CFHEC Consortium)
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The Nigerian Stock Exchange (NSE), yesterday announced the review of the eligibility criteria for the NSE Pension Index in line with changes in the regulatory and market requirements. Chairman, Index Governance Committee of NSE, Mr Abimbola Babalola, said in that the amended methodology and re-balancing would be effective from today, July 1. The
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Benue State Internal Revenue Service (BIRS) has said it has fully digitalised all tax services as a measure to curtail difficulties taxpayers may have in accessing the agency's services. The agency said Governor Samuel Ortom has also granted a waiver of 50% on land related fees and charges. By the newly introduced
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