Business

Cash shortage hits banks, overnight lending rate jumps

Overnight lending rate jumped to 78.5 per cent on Tuesday, up from 60 per cent on Monday, statistics from the FMDQ OTC showed The increase ...

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Active telecom users hit 142m, 29,756 subscribers port lines – NCC

Nigerian Communications Commission, NCC, yesterday said active lines in the telecommunications industry increased to 142.5m in February. This represents an increase of 1.7m users over ...

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CBN spends $4.7bn to defend naira

The Central Bank of Nigeria (CBN) has spent $4.7 billion to defend the naira this year, even as the nation’s external reserve fell to $29.6 ...

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Dangote Foundation, WEF promote economic growth in Africa

Dangote Foundation and the World Economic Forum (WEF) have collaborated to boost capacity-building and economic growth across Africa. As a result, the Dangote Foundation said ...

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Transcorp revenue grows by 120%

Transnational Corporation of Nigeria Plc has released its audited financial results for the 2014 financial year, declaring a 120 per cent growth in revenue. The ...

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FirstBank begins operations in Sierra Leone

First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc unveils FBNBankSierra Leone, formerly registered as International Commercial Bank (ICB). This unveiling comes on the heels of ...

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CBN to publish names of serial bank debtors …to slash debit cardholders’ spending overseas

The Central Bank of Nigeria (CBN) on Thursday expressed deep concerns about the growing amount of Non-Performing Loans in the books of Deposit Money Banks and said it would publish the names of chronic debtors ...

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Active mobile internet subscribers rise by 18.42mn – NCC

The number of Nigerians that are accessing the Internet through the Global System for Mobile Communication networks has leaped by 18,418,476 in the last one ...

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Oil prices rebound from slump

Oil prices rebounded Thursday on bargain-hunting after a surge in US crude stockpiles and record output in Saudi Arabia sparked a sell-off in the previous ...

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UBA deploys new technology to boost e-banking

United Bank for Africa Plc has deployed a new information technology platform to boost its electronic banking channels. The new platform, called Finacle 10x, will ...

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