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Kogi, DFID partner on tax review

The United Kingdom Department for International Development (DFID) said it was partnering with Kogi Government to review the draft of harmonized bill on taxes in the state. In a statement in Abuja, DFID said that the essence of the review of the bill to be presented to the state legislature was to ensure that a regime of fair taxation existed ...

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CBN Laments Non-accessibility of fund for Edo SMEs

The Governor of Central Bank, Sanusi Lamido Sanusi, has lamented the failure of the Small and Medium Enterprises in Edo to access the N220 billion intervention fund floated by government. Sanusi expressed his concern at the Government House in Benin on Friday when he paid a condolence visit on Edo Government on the death of wife of Oba of Benin, ...

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Investors trade 343.345m shares worth N4.03bn on NSE

Investors on the Nigerian Stock Exchange (NSE) on Thursday exchanged 343.345 million shares worth N4.03 billion in 5 415 deals. This was in contrast to the 258.686 million shares valued at N2.92 billion exchanged in 5 109 deals on Wednesday. The All-Share Index, however, dipped by 190.33 points or 0.47 percent to close at 40 601.74 from the 40 792.07 ...

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Banks risk punishment for fraudulent deposits

The Economic and Financial Crimes Commission (EFCC) has warned it would punish banks that allowed fraudulent deposits. The commission said that is becoming worrisome that some banks, in their drive to increase deposits, were now shedding criminals and fraudsters who deposit money into their bank. Speaking at a meeting with the Committee of Chief Compliance Officers of Banks in Lagos, ...

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PPMC raises concern over incessant pipeline vandalism

The Pipeline and Products Marketing Company (PPMC) has raised concern over the incessant pipeline vandalism across the country. Nasir Imodagbe, the PPMC’s spokesman, said that activities of oil thieves, who incessantly destroyed pipelines with the aim of stealing products, were having damaging effects on the economy. Imodagbe said the increasing incidence of pipeline vandalism, especially in the Mosimi – Ijegun ...

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ECOWAS approves $50 million for Trans-West Africa highway

The Economic Community of West Africa States (ECOWAS) on Thursday in Addis Ababa, Ethiopia approved $50 million for the commencement of detailed design studies of the Trans-West Africa highway project. President Goodluck Jonathan announced the approval during a meeting of ECOWAS member-states on infrastructure development, held on the sidelines of the ongoing 22nd AU Summit in Addis Ababa. The News ...

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Google sells Motorola unit to Lenovo for $2.9B

Google confirmed on its site that it has sold Motorola for $2.91 billion, consisting of $660 million in cash and $750 million in Lenovo shares, with the remaining $1.5 billion paid in the form of a three-year promissory note. Reuters earlier reported on the deal. Lenovo gets the Motorola brand, as well as its portfolio of devices, including the Moto ...

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Fish farmers benefit from free inputs

More than 300 artisan fish farmers in the Edo State have benefited from the distribution of subsidised fishing inputs introduced by the federal government to enhance the growth of the sector. The beneficiaries were drawn from Agenebode Akeh, Udochi, Udaba-Ekperi, Ofukpo, Osemegbe, Illushi, Ifeku Island, Evbuarue-Nukpo, Gelegele, Oregbeni, Temboga, Ogbese and Olumoye communities all in the state. The programme is ...

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23 Commercial Banks get N229bn from BOL

The Bank of Industry said it had disbursed the sum of N229.18bn under the Restructuring and Refinancing Fund scheme. The amount, according to the bank, was allocated to 23 commercial banks and one Development Finance Institution that participated in the RRF scheme. The Chairman, Shareholders committee of the bank, Mr Mohammed Dikwa gave the figure on Friday in Abuja during ...

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Hijacked Greek Ship Found By Nigerian Navy

The Nigerian Navy has intercepted a Greek-owned merchant tanker, MT KERALA, purportedly hijacked off the coast of Luanda after ‘spirited four-day’ search in the Gulf of Guinea.This is contained in a statement issued on Friday in Abuja and signed by Commodore Kabir Aliyu, Director of Naval Information. The statement added that the arrest was achieved, using the Nigerian Navy remote ...

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