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Alheri Denies N27.2bn Debt Over Fibre Optic Agreement

Management of Alheri Engineering Company Limited has vehemently denied owing Federal Government the sum of $75,500,000.00 million (about N27.18billion at N360 to $1) over fibre optic agreement.   In a statement released by the company on Monday, the company described the accusation as wrong and fallacious and assured its customers that the story is “…not only untrue but a distortion of facts and events twisted to achieve a predetermined goal. The story is as bizarre as it is deceptive, calculated only to sensationalize and to smear the good corporate reputation and…

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Nigeria Stock Market Records Feat, Index Crosses 44,000 Mark

The Nigerian Stock Exchange (NSE) recorded a feat on Tuesday, with the All-Share Index crossing over 44,000 mark for the first time.   The index rose to 44,054.72 from 43,119.00 achieved on Monday, representing an increase of 935.72 points or 2.17 per cent.   Similarly, the market capitalisation increased by N335 billion or 2.17 per cent to close at N15.782 trillion against N15.447 trillion posted on Monday.   Mobil led the gainers’ table for the day, growing by N9. 50 to close at N199.50 per share.   Guinness came second…

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CBN Pumps $210m Into Forex Market

The Central Bank of Nigeria (CBN) has injected another sum of $210million into the inter-bank Foreign Exchange Market, to meet customers’ requests in various segments of the market. Figures obtained from the Bank on Monday, January 15, 2018, indicate that the CBN offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. Customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated…

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FG Pays N35bn Salary Arrears Of 267 MDAs

The Accountant General of the Federation, Mr. Ahmed Idris (AGF) has said that the Federal Government has released the sum of N35bn to fulfil its promise to settle the backlog of promotion arrears owed to Federal Civil Servants across the Federation covering years 2011 -2016 and over N30bn is being spent on verified MDAS. Idris disclosed this recently, after receiving a briefing from the Chairman of the Committee on the Verification of  civil servants who are entitled to Promotion Arrears , Mr. Mohammed Kudu Usman, Director Inspectorate Department in the…

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UBA Revolutionises eBanking, Chat Personality On  Social Media Platforms  

Pan-African financial institution, United Bank for Africa (UBA), has today, changed the face of e-banking with the introduction of Leo, the UBA Chat Banker who enables customers make use of their social media accounts to carry out key banking transactions. At the official launch of Leo, UBA’s Chat Banker, which took place in Lagos on Thursday, customers of the bank were given a step by step demonstration on the novel way of delivering lifestyle and quality  banking through the Facebook Messenger chat platform. This is the first time that a financial…

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Dangote Retains Title As Africa’s Richest Man

…….For 7 years running For the seventh year in a row, President and Chief Executive of Dangote Industries Limited, Aliko Dangote was adjudged as the richest man in Africa with a net worth that Forbes pegged at $12.2 billion. That was an increase of $100 million from a year ago. Bill Gates maintained his position as the richest in the world with a net worth of $86 billion, while Warren Buffet and Jeff Bezos were second and third consecutively with a net worth of $75.6 billion and $72.8 billion. Forbes further stated…

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InterContinental Hotels Group Exits Nigeria Over Loan Disagreement

InterContinental Hotels Group is withdrawing from Nigeria four years after it opened its first site in Africa’s most populous country following a disagreement with local partners over the terms of how to bring the property out of receivership. The United Kingdom company’s 358-room hotel in Lagos, Nigeria’s commercial capital, will no longer operate as an InterContinental-branded property as of January 18, Simon Stamper, IHG’s director of African operations, said in an emailed statement on Wednesday. The company’s other hotels in sub-Saharan Africa are in South Africa, Mauritius and Zambia. “We…

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Internet Users Hit 94.8m In November –NCC

The internet users increased marginally to 94 .8 million in November, the Nigerian Communications Commission (NCC), has said.   The NCC made this disclosure in its Monthly Internet Subscribers Data for November 2017 on its website on Tuesday in Abuja.   According to the data, Airtel, MTN and Glo gained more internet subscribers during the month, while 9mobile was the big loser.   The data also showed that overall, internet users increased by to 94, 818,553 in November from 93,887,184 in October showing an increase of 931, 369.   The…

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CBN Disowns Fake Emefiele Twitter Handles

The Central Bank of Nigeria (CBN) has raised alarm over the existence of several twitter handles purportedly owned by the Governor , Mr Godwin Emefiele. CBN Acting Director, Corporate Communication, Mr Isaac Okorafor in a statement on Tuesday in Abuja, urged Nigerians to ignore messages from such twitter handles. “We wish to inform members of the public, particularly members of the social media community that Emefiele presently has no twitter handle. “We wish to state categorically, that the twitter handles bearing his name and photographs are fake and targeted at…

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MARITIME STAKEHOLDERS HAIL NIMASA CAPACITY BUILDING INITIATIVE

…Pledge support for NSDP Cadets The capacity building initiative of the Nigerian Maritime Administration and Safety Agency (NIMASA) through the Nigerian Seafarers Development Programme (NSDP) has again received commendation from Stakeholders and industry players in the Nigerian maritime sector. This is coming on the heels of the flag-off ceremony of the first phase of the NIMASA fully sponsored sea time training for the cadets of the NSDP scheme, held recently in Lagos. Speaking at the event, the former President, Nigerian Trawler Operators Association (NITOA) and the Chief Executive Officer MORBOD Fisheries…

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