Category: Business
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NAHCO grows profit to N3.8bn
Nigerian Aviation Handling Company Plc said its pre-tax profit rose by 315.1 per cent in 2022, riding on the back of strong sales income and business-wide efficiency. A statement said the board of the aviation handling group recommended an increase of 251 per cent in dividend payouts from N665.93m paid in the 2021 financial year…
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CBN eases circulation of banknotes, instructs banks to open Saturdays, Sundays
Central Bank of Nigeria has directed all commercial banks to open for operation on Saturdays and Sundays, as part of a coordinated effort to ease circulation of banknotes of various denominations. The apex bank also confirmed the evacuation of banknotes from its vaults to commercial banks across the country. This latest development was disclosed in…
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LAPO MfB rewards customers
Lapo Microfinance Bank has rewarded its customers with cash prizes in its raffle draw promo. During the live draw that took place at its head office in Lagos, Lapo said it organised the event to encourage savings culture among Nigerians. At the promo, 170 winners got consolation prizes, and N500,000 was won by the star…
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Naira Scarcity: ‘Pure Water’ Seller Goes Cashless, Sells With PoS
In a viral post shared on social media on Sunday, a sachet water seller was seen holding a Point of Sale machine while hawking her wares. Last week, the Central Bank of Nigeria had reshared a video showing a sugarcane seller positioning a POS machine on his wheelbarrow saying “There are no boundaries to going…
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Tinubu Attacks FG Over Poor Exchange Rate of N800 against $1
The presidential candidate of the All Progressives Congress (APC), Bola Tinubu, at the party’s presidential campaign rally in Calabar, Cross River State, slammed the President Muhammadu Buhari-led federal government over the depreciation of the nation’s currency. This comes few days after Tinubu criticised the government. According to Tinubu, when the government took over, the naira/dollar…
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CBN bans dollar charges on domestic transactions, launches new card, AfriGo
The Central Bank of Nigeria (CBN) has launched the Nigerian National Domestic Card Scheme, AfriGo, aimed at creating a more robust payment system that would drive financial inclusion in the country. Launching the card virtually, this morning, the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, said that transaction charges on all cards…
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Group congratulates Edema, Ogunmola on NDDC appointments
O’dua Study group has congratulated Engr. Charles Ogunmola, and Hon. Gbenga Edema on the confirmation of appointments and inauguration as members of the NDDC board. The duo were inaugurated recently by President Muhammadu Buhari after their nomination was confirmed by the Senate. Charles Ogunmola was confirmed as the Executive Director of Projects in NDDC and…
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LCCI lists consequences of planned supplementary budget by FG before year-end
The Lagos Chamber of Commerce and Industry has warned that the planned supplementary budget by the Federal Government will, amongst other consequences, cause economic shocks in the coming year. In a statement signed by its Director-General, Dr Chinyere Almona, the chamber noted that with few days to the end of 2022, the Federal Government plans…
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Why N’Assembly fails to pass 2023 budget
The National Assembly on Thursday failed to pass the 2023 Appropriations bill as earlier scheduled. Indications of this emerged when the budget report was not listed on the Order Paper for Thursday’s legislative activities. Shortly after a closed-door session that lasted 15 minutes, the Senate President, Ahmad Lawan, said that due to irreconcilable figures detected…
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In Six Months, Nigerians Consume Beer Worth N599.11 billion
Nigerians drink beer worth N599.11 billion in six months running from January t0 June 2022, according to the first quarter results of four major brewers in the country. Champion Brew ended the First Half (H1) 2022 as the best performing company in the brewery Industry, as Nigerian Breweries and…