Category: Business
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Dangote announces date for commissioning of multi-billion refineries
Dangote Group has announced the date for the launch of its much-awaited refineries. A letter of invitation circulating on social media indicated that the commissioning would happen on May 22, 2023. The multi-billion-dollar Oil Refinery and Petrochemical Company is expected to bring solutions to Nigeria’s perennial refining issues.
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Updated: Traders turn back firemen as fire razes Alaba market in Lagos
There was panic on Friday after fire gutted some shanties in the popular Alaba International Market in the Ojo Local Government Area of Lagos State. PUNCH Metro gathered that the fire started on Friday morning. It was also learnt that some traders in the market resorted to self-help to put out the fire before the…
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At last, Eko Rice hits market this weekend
After a long tortuous wait, Lagos State government has assured residents that the commercial sale of Eko Rice will commence by the end of this month. The Special Adviser to the Governor on Agriculture and Rice Mill Initiative, Dr. Oluwarotimi Fashola, who disclosed this during an agreement signing with the Lagos Commodities and Future Exchange…
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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…