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UBA Foundation launches Read Africa in Liberia


In pursuance of its mission to uplift the lives of the communities in which the United bank for Africa (Plc) operates, UBA Foundation’s initiative, Read Africa is visiting schools in African countries to encourage young children embrace the culture of reading. Read Africa is an initiative of UBA Foundation geared at rekindling the dwindling reading culture amongst African youths. Conceived and introduced ...

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CBN Boosts Forex Supply with $240m to Retail SMIS

US Dollar

ABUJA – In the last trading day of the week and ahead of June 26 and 27, 2017 holiday declared by the Federal Government to commemorate the Eid-el-Fitr, the Central Bank of Nigeria (CBN) on Friday, June 23, 2017, allocated the total sum of $240 million to the Retail Secondary Market Intervention Sales (SMIS) for spot and forward deals. The ...

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CBN, NCC intervene in Etisalat, Banks debt crisis to save jobs


ABUJA – Following the deepening crisis between Etisalat and a consortium of 13 Nigerian Banks over a syndicated loan of about US$1.2 billion granted the telecom company by the banks, the Central Bank of Nigeria (CBN) on Friday, June 23, 2017 said the apex Bank and the Nigeria Communications Commission (NCC) decided to intervene in the crisis in order to prevent ...

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Maritime: Nigeria Set To Sign MoU To Support Ghana


In continuation of its quest to make Africa compete favourably with other maritime nations in the world, Nigerian Government through the Nigerian Maritime Administration and Safety Agency (NIMASA) is set to provide support to the Ghana Maritime Authority (GMA) through a proposed Memorandum of Understanding (MoU). The Director General of NIMASA, Dr. Dakuku Peterside who made this known during a ...

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FG, States, LG Share N462bn for May 2017


A total of N462.359 billion has been distributed  as Federal Allocation for the month of May, 2017  to the  Federal Government, State Governments and Local Government Councils. The  communiqué issued by the Technical sub-Committee of Federation Accounts Allocation Committee (FAAC) at the end of the meeting held today in Abuja signed by the Ag. Accountant General of The Federation, indicated ...

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Access Bank, Others Insist Etisalat Must Repay Loans

LAGOS – Contrary to reports in a section of the media, the banks being owed $1.2 billion by Etisalat Nigeria are yet to take over the telecommunication company from the investor, Etisalat UAE. The consortium of banks led by Access Bank says it is interested only in the repayment of the loans since depositors are already asking for their money. ...

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Lagos Business School Hosts, Trains South African Bankers


Lagos Business School in partnership with Duke Corporate Education (South Africa) is hosting an International Executive Development Programme (IEDP) for the Banking Sector Education and Training Authority (BANKSETA), in Lagos, Nigeria. The programme, which started on Monday, June 19, 2017, is currently immersing the participants through an action-based learning intervention to ensure that they have hands-on best practices experience in ...

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Chinese investors plan massive investment in Bayelsa


A group of Chinese investors have entered into discussion with Governor Henry Seriake Dickson to invest massively in key sectors of the state. Their discussion centred on multiple job creation and supporting the government to further provide opportunities for other businesses in the state to grow. ‎Leader of the delegation and chairman of Wave Investment, Xue Yuebin‎, made this known ...

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Promasidor Salutes Muslims At Ramadan


Promasidor Nigeria Limited, makers of highly nutritious and fortified Cowbell and Loya Milk, has felicitated with Muslims in the country as the holy month of Ramadan gradually comes to an end. Ramadan is the month in the Islamic calendar (Hijrah) and it is obligatory for Muslims to fast during this period as this is considered the fourth pillar of Islam. ...

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Highlights of 2017 Budget


On December 14, 2016, President Muhammadu Buhari presented the 2017 Budget Proposal to a Joint Session of the National Assembly. Five months later, on May 11, 2017, the National Assembly passed the Budget (or Appropriation Bill), as it is formally known, into law, with changes. Some of those changes were not acceptable to the Executive. For example the decision of ...

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