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A Federal High Court in Lagos on Tuesday fixed July 23, 2015 for ruling in a suit filed by a lawyer, Toluwani Adebiyi challenging the proposed hike in electricity tariff by the Nigerian Electricity Regulatory Commission (NERC). The proposed hike earlier scheduled to take off on June 1, 2015, was put
Read MoreFinancial analysts and experts have concluded that pressure on inflation will not abate in the short-to-medium term just as they expect the naira to remain under pressure at the parallel market this week. The Monetary Policy Committee (MPC) members meet on Thursday to review developments in the global and domestic economic
Read MoreThe Management of Nigerian Customs Service (NCS) under its current Comptroller- General (CG), Abdulahi Dikko Inde, said it generated over N4.47 trillion for the country, with commodity seizures of 40,642,646,402 from 2009 to 2014 From 2009, when the current management took over, it came up with a six-point agenda, which focused
Read More• Deploys 197 Trucks To FCT The Department of Petroleum Resources (DPR) has assured the public of adequate and continuous supply of petrol before and during Sallah period. A report by the News Agency of Nigeria noted that the Zonal Spokesperson of DPR, Abuja, Mohammed Saidu, said that 6.5 million litres (197
Read MoreSeven Energy International Limited, an indigenous Nigerian integrated gas company, has secured a $495 million loan from a consortium of Nigerian and international bank to boost gas supply in the country. The loan is provided by: First Bank, Ecobank, United Bank for Africa, Union Bank, FCMB, FBN Bank UK and Union
Read MoreFBN Capital Limited on Wednesday said it has facilitated in the closing of a $445 million syndicated medium term facility with Accugas Limited. Accugas, a wholly owned subsidiary of Seven Energy International Ltd, is the gas processing, marketing and distribution arm of the Seven Energy Group. The signed syndicated medium term facility
Read MoreSokoto State Governor Aminu Waziri Tambuwal has said that the Fidelity Bank’s Helping Hands Programme (FHHP), an arm of the bank’s Corporate Social Responsibility (CSR) practice is a viable tool in mitigating the social inequalities in the country. The Governor stated this in Sokoto while commissioning the Sokoto State Orphanage Home
Read MoreNigerian Communications Commission [NCC] would impose N10million fine on any service provider that violates the Commission’s guidelines on the promotion of adverts in the telecoms networks. Executive Vice Chairman of NCC, Eugene Juwah, disclosed this on Tuesday at the public inquiries on the draft enforcement processes/procedures, regulations and SIM replacement guidelines
Read MoreThe World Economic Forum and the Organisation for Economic Co-operation and Development (OECD), through the work of the Forum’s Redesigning Development Finance Initiative (RDFI), will July 15 formally announce three Blended Finance initiatives aimed at unlocking hundreds of billions of dollars of investment to help meet the United Nations Sustainable
Read MoreThe Nigeria equities space on Tuesday sustained the bearish momentum witnessed for the past ten trading days on the back of macro-economic headwinds and Forex volatility. Equities slid further south when key market indicators, the All-Share Index and Market Capitalisation, declined by 0.94 per cent each. The All Share Index went
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