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CBN Orders Sale of Additional $10,000 to 1,583 Eligible BDCs To Further Boost FX Market Liquidity

• by Olusegun Edwards
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The Central Bank of Nigeria (CBN) has approved the sale of an additional $10,000 to 1,583 eligible Bureaux De Change (BDCs) in the country to meet market demands. The Director, Trade and Exchange Department of the CBN, Dr Hassan Mahmud, made this known in a letter addressed to the President, Association of Bureau De Change […]

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Ex-Governor, Ihedioha Resigns From PDP

• by Olusegun Edwards
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Former Deputy Speaker of the House of Representatives, Mr Emeka Ihedioha, on Tuesday, resigned his membership of the Peoples Democratic Party (PDP). Ihedioha, also a former Imo governor said this in a letter addressed to the ward chairman of the party at Mbutu in Aboh Mbaise Local Government Area of the state on Tuesday. The […]

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NASENI, Nasarawa State, Firm Partner to Establish Tractor Manufacturing Plant in North-Central Geo-political Zone; Gov. Sule Visits NASENI to Discuss Project

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The National Agency for Science and Engineering Infrastructure (NASENI), is set to collaborate with Nasarawa state government and Bobtrack Tractors, a division of Saint Bob Motors Limited to start the manufacturing and assembling of tractors in the north-central geo-political zone. The facilities and infrastructure available at one of NASENI’s Institutes, Agricultural Machinery and Equipment Development […]

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Again, Dangote Reduces Diesel, Aviation Fuel Prices Further to N940, N980 Respectively

• by Olusegun Edwards
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Dangote Petroleum Refinery has again announced a further reduction in the prices of both diesel and aviation fuel to N940, N980 per litre respectively. This is coming in the wake of its widely celebrated price reduction to N1,000 barely two weeks ago. The price change of N940 applies to customers buying five million litres and […]

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CBN Partners International Money Transfer Entities to Double Remittances to Nigeria

• by Olusegun Edwards
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The Central Bank of Nigeria (CBN) has secured the cooperation of some International Money Tranfer Organisations (IMTOs) to double the flow of remittance to Nigeria in its current bid to consolidate the modest improvement in the foreign exchange market dynamics. Mr. Olayemi Cardoso,the CBN Governor, who disclosed this in Washington DC  also said that the […]

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FirstBank Holdings Names Olusegun Alebiosu Acting Chief Executive of FBN, Replaces Adeduntan

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The Board of FBN Holdings Plc, yesterday, announced the appointment of Mr. Olusegun Alebiosu as acting Chief Executive, First Bank of Nigeria Limited (FirstBank), its flagship subsidiary. The appointment came on the heels of the recent resignation of the bank’s Managing Director/Chief Executive, Dr. Adesola Adeduntan. In a statement to the Nigerian Stock Exchange, the […]