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Lagos, other states’ debts jump to N1.68tn

Lagos, other states’ debts jump to N1.68tn

The cumulative domestic debts of Lagos and 14 others rose by 153.82 per cent between December 31, 2015 and March 31, 2021, analysis of data obtained from the Debt Management Office has shown. Each of the states in question recorded at least 100 per cent jump in less than the six years under review. The...

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NCC records N150bn spectrum fees in 5 months

NCC records N150bn spectrum fees in 5 months

The Nigerian Communications Commission (NCC) has exceeded its N36 billion projected revenue from spectrum license fees for 2021. The Commission said that it had recorded over N150 billion from this revenue source within the five months of the year. Dr Ikechukwu Adinde, Director, Public Affairs, made this known in a statement on Sunday in Abuja....

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Crown Flour Mill gets global commendation for flour fortification efforts

Crown Flour Mill gets global commendation for flour fortification efforts

In recognition of its efforts and investments in food fortification and infrastructure, culminating in Nigeria’s first state-of-the-art vitamin premix facility, Crown Flour Mill Limited (CFM), the flour milling subsidiary of Olam Nigeria, an agribusiness conglomerate, has received widespread commendation for consistently delivering highly fortified, quality and affordable food staples that meet global standards and improve...

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Olam BIP record yields echoing impact across the Agric value chain

Olam BIP record yields echoing impact across the Agric value chain

Olam Nigeria, a leading agribusiness conglomerate with footprints across the wheat milling, rice production, dairy, tomato, poultry and animal feed segments, among others, has restated its commitment to the Federal Government’s efforts to revitalize the local agric value chain. Details of the agribusiness backward integration programmes (BIP) over the past decade, which was shared with...

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Macron begins France-Nigeria business council, appoints Abdul Samad Rabiu as president

Macron begins France-Nigeria business council, appoints Abdul Samad Rabiu as president

President Emmanuel Macron of France has inaugurated the France-Nigeria business council, a private sector initiative to enhance business relations between the two countries. The event was held in Paris on the sidelines of the Business France Summit in Versailles, France. Macron also appointed Abdul Samad Rabiu, chairman of BUA group, as the inaugural president of...

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Naira remains stable at official, parallel markets

Naira remains stable at official, parallel markets

The naira maintained stability against the U.S dollar at both the official and black markets on Friday respectively. Data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira closed at N411.67 at the Nafex window, the same rate it exchanged hands with greenback currency in the previous session on...

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Bitcoin to become legal tender in El Salvador on Sept 7

Bitcoin to become legal tender in El Salvador on Sept 7

El Salvador’s President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional. El Salvador’s Congress already approved Bukele’s proposal to embrace the cryptocurrency, making El Salvador the first country in the world to...

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NCRIB-LAC bridges gap between town, gown with CSR

NCRIB-LAC bridges gap between town, gown with CSR

The Nigerian Chartered Insurance Brokers (NCRIB), Lagos Area Committee (LAC) as parts of its Corporate Social Responsibility (CSR) has recently engaged students of Immaculate Hearts Senior High School and Mende Senior High School, both in Mende, Maryland, Lagos, in a knowledge transfer session to deepen knowledge on the insurance profession. The event which held last...

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First Bank announces new MD, CEO

First Bank announces new MD, CEO

First Bank has announced the appointment of Mr Gbenga Shobo as its new Managing Director/Chief Executive Officer. The Board of First Bank of Nigeria approved Shobo’s appointment at a meeting today, April 28. Mr Shobo, who is the current Deputy Managing Director, succeeds Sola Adeduntan, who will be leaving the bank in accordance with the...