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Govt moves against corporate tax evaders
The Federal Executive Council on Wednesday gave its nod to the move by the Federal Inland Revenue Service to strengthen non-oil tax and revenue collection. It also awarded contracts for five road...
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No prepaid meter, no payment – Electricity consumers
Consumers have threatened not to pay their electricity bills if the Distribution Companies fail to provide prepaid meters for all and sundry. They decried the inability of the DISCOs to issue customers...
View ArticleEarnings, German deal boost European shares
European equities edged higher on Wednesday, supported by a long-awaited coalition deal in Germany and a trickle of solid earnings from the likes of Belgian discount grocer Colruyt. Reuters reported...
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External reserves drop by $2bn
Nigeria’s external reserves have been depleted by $2bn in the last 10 weeks, latest data from the Central Bank of Nigeria has shown. The data, posted on the central bank’s website, showed that the...
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CBN, Sterling Bank inaugurate agent banking
The Central Bank of Nigeria on Wednesday joined Sterling Bank Plc to inaugurate its agent banking, which is expected to boost the financial inclusion strategy introduced by the central bank in 2012....
View ArticleFed wants PMorgan to shun metal warehousing
NEW YORK: The United States Federal Reserve was pressing JPMorgan Chase & Co to distance itself from its metals warehousing business more than a year ago, documents seen by Reuters show, long...
View ArticleEx-Nokia employees launch smartphone
TOKYO: A team of ex-Nokia employees had released the first handset running on a new smartphone platform, the British Broadcasting Corporation reported on Wednesday. The Jolla phone — pronounced Yol-la...
View ArticlePanasonic to sell three Japan chip plants
TOKYO: Panasonic Corp will sell its three main chip plants in Japan to Israel’s TowerJazz, people with direct knowledge of the matter said on Wednesday, as the electronics giant wraps up a...
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NLPGA leads discussion on autogas
The Nigerian Liquefied Petroleum Gas Association’s third annual conference will focus on autogas and the environment, the association’s President, Mr. Dayo Adeshina, has said. The conference, which...
View ArticleIndia’s 10-year bonds rise for third day
India’s 10-year bonds rose for a third day on speculation a drop in sovereign debt sales after November will spur demand for existing securities, Bloomberg News reported. The government plans to borrow...
View ArticleOperators urged to access $350m Nigerian Content Fund
The Nigerian Content Development Fund has grown to $350m and is now being accessed by Nigerian service companies, the Executive Secretary, Nigerian Content Development and Monitoring Board, Mr....
View ArticleNSE index up by 0.09%
Investors searching for a bargain aided the equities segment of the Nigerian Stock Exchange to close on a positive note on Wednesday, despite profit-taking by some other investors. The NSE’s All-Share...
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FG to stop kerosene subsidy in 2014
There are indications that the Federal Government will stop kerosene subsidy in 2014 bringing to an end a scheme that has been widely criticised as corrupt and controversial. Our correspondent learnt...
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Capital market records 38% growth – Oteh
Between January and November this year, the Nigerian capital market has recorded a 38.8 per cent growth, the Director-General, Securities and Exchange Commission, Ms Arunma Oteh, has said. She stated...
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Pension assets to hit N11.1tn in 2016 –PenCom
The pension industry is expected to triple its assets the next three years to $70bn (about N11.1tn), as the government targets small businesses to get more people into the pension scheme, the National...
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NSE Index sheds 0.21% as 28 stocks decline
Equity trading activities on the floor of the Nigerian Stock Exchange closed negative on Thursday with the NSE All-Share Index shedding 0.21 per cent or 82.66 basis points to close at 38,928.65 basis...
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Cash-less policy to go nationwide in 2014 – CBN
The Central Bank of Nigeria has concluded plans to extend the cash-less policy to other states of the federation before June 2014. The Deputy Governor (Operations), CBN, Mr. Tunde Lemo, said this at...
View ArticleNpower confirms 1,460 UK jobs to go
Energy giant Npower has confirmed that 1,460 United Kingdom jobs are to go as part of a major corporate restructuring. The company, owned by Germany’s RWE, plans to outsource much of its customer...
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SEC seeks solution to unclaimed dividends
The Securities and Exchange Commission has expressed concern about the rising number of unclaimed dividends in the capital market. The Chairman, SEC, Mallam Suleiman Ndanusa, spoke on the position of...
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Foreigners invest N864bn in Nigerian bonds
About $5.4bn (N864bn) has so far been invested in the Nigerian bond market by foreign investors, the Director-General, Securities and Exchange Commission, Ms Arunma Oteh, has said. She said the huge...
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