Nigeria Army on Monday released 593 people after clearing them of having ties with the Islamist militant group Boko Haram, a spokesman said. The chief of army staff directed that those arrested be “released unconditionally if found not to have anything to do with insurgency or Boko Haram”, said Brigadier General Abdulraman Kuliya. He added that […]
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The Federal Government says it will recapitalise Bank of Agriculture to the tune of N3tn in order to enable farmers in the country have access to funds at affordable interest rate. The Minister of State for Agriculture, Senator Heineken Lokpobiri, said this on Monday at the inaugural harvest of a Tilapia fish farm of Premium […]
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Nigeria’s Mosimi oil depot has resumed loading after almost a year, when a major pipeline was vandalised last May, the state oil company said on Monday. The resumption of loading could help the Nigerian National Petroleum Corporation (NNPC) cut losses that stemmed from the damage, as trucks had to drive from Lagos to replace the […]
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Agbani Darego, 2001 Miss World got married over the weekend to Ishaya Danjuma, son of former Defense minister and business man, Theophilus (TY) Danjuma. According to some online reports, the beauty queen/ fashion entrepreneur shared the news on her Instagram page with the picture showing her in a wedding dress with her partner turning their […]
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Gunmen have shot dead four policemen, an army captain and a civilian in an attack on a community outside Nigeria’s commercial hub of Lagos, police said on Monday. The gunmen invaded Owutu-Ishawo in Ikorodu early on Sunday and kidnapped residents after looting their homes and shops. “Around 1:00am on Sunday, the police received a distress […]
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An official says two female suicide bombers exploded near the fence surrounding the University of Maiduguri in northeastern Nigeria. Ibrahim Abdulkadir, spokesman for the National Emergency Management Agency, said there were no casualties other than the attackers in the pre-dawn hours of Monday. The suicide bombers reportedly were not permitted entry by security personnel deployed […]
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Directors of over 3,000 Bureaux De Change operators will today hold a special meeting aimed at taking strategic decisions to force down the exchange rate on the parallel market. The association, in a statement on yesterday, said the emergency meeting followed last week’s sudden depreciation of the naira against the dollar, pointing out that the […]
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The Trump administration will move forward with the sale of high-tech aircraft to Nigeria for its campaign against Boko Haram Islamic extremists despite concerns over abuses committed by the African nation’s security forces, according to U.S. officials. Congress is expected to receive formal notification within weeks, setting in motion a deal with Nigeria that the […]
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The Central Bank of Nigeria on yesterday vowed to sustain its intervention in the foreign exchange market to ensure liquidity in that segment of the financial sector. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, stated this in a statement issued in Abuja. He said as part of its determination to make forex available […]
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The nation’s overnight lending rate has risen by 2.5 percentage points after the Central Bank of Nigeria debited bank accounts for debt purchases, draining liquidity in the money market. The overnight lending rate increased to 14.5 per cent on Friday, up from 12 per cent at the start of the week, after CBN debited bank […]
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Africa Reinsurance Corporation held about 28 per cent of the total African shareholders’funds as at 2015, the Managing Director, Corneille Karekezi, has said. Karekezi, who stated this in Lagos, last week, said the corporation was able to secure reinsurance premiums on the continent as a result of its huge shareholding in the company. He said, […]
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A Don and Professor of Financial Economics in the University of Uyo, Awka Ibom State, Leo Ukpong, has warned that the Naira stands the risk of getting worse if Nigeria’s External Reserves are depleted. Ukpong, who is also the Dean of the institution’s Business Administration Faculty, advised that the forex exchange (forex) reserves should be […]
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