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Why Huawei’s Google woes worry Africa

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Most Africans connecting to the internet today are likely to be using a Chinese smartphone, powered by a Chinese-built network, and at least half of the time, it was built by Chinese tech giant, Huawei. Read more

Stakeholders place cost of Apapa traffic at trillions of Naira

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Apart from the man-hour losses, they also list the steady increase in the volume of Nigerian bound cargoes that are being diverted to ports of neighbouring countries. Read more

‘Nigeria losing over $8billion to non-passage of auto policy’, imports 400,000 used vehicles annually

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It has been argued that the non-passage of the automotive policy bill will further hamper the development of the auto sector. What is your take? Read more

Uber had the worst first-day dollar loss ever of any US IPO

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The much-anticipated Uber initial public offering managed to break a record, but not one that investors would’ve hoped for. Read more

Facebook Faces a Big Penalty, but Regulators Are Split Over How Big

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Facebook’s announcement in late April that it had set aside $3 billion to $5 billion to settle claims that it mishandled users’ personal data suggested a strong consensus by federal regulators that the social media giant needed to be held accountable. Read more

NNPC negotiating, processing $15bn oil sector financing deals

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The worth of financing transactions in the oil and gas sector that are currently being negotiated, processed and at approval stages by the Nigerian National Petroleum Corporation is $15bn. Read more

How low yield, high NPL took toll on tier-1 banks’ performance

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THE high Non-Performing Loans (NPLs) in the banking industry as well as decline in the yield environment in the Federal Government of Nigeria, FGN, debt instruments have taken a toll on financial performance of tier-1 banks operating in the country. Read more

Credit to the economy rises to N30.5trn

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CREDIT to the economy rose to an all time high above the N30 trillion mark in February 2019, driven by strong growth in credit to the private sector during the month. Read more

Developing new banking products to accelerate CBN’s Financial Inclusion

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OVER the years, the  Central Bank of Nigeria (CBN), has introduced several reforms to create a robust financial system framework. These reforms are focussed on enhancing banking system stability, sensitizing the gains in serious governance and restoring confidence in the nation’s financial system. Read More

Oil up 1 percent as market focuses on supply risks

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NEW YORK (Reuters) – Oil prices rose 1 percent on Tuesday, as fighting in Libya and falling Venezuelan and Iranian exports raised concerns over tightening global supply, but uncertainty surrounding an OPEC-led production cut limited gains. Read more

Minimum wage, others to trigger rise in inflation rate

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Analysts in the financial sector have projected that the signing of the new minimum wage bill, a hike in energy tariffs and ongoing planting season would trigger a rise in monthly inflation rate in April, May and June this year even as inflation rate for March 2019 slowed down to 11.25 percent. Read more

NNPC reduces joint venture indebtedness to $3.5bn.

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The Nigerian National Petroleum Corporation, NNPC, yesterday said that it has reduced joint venture cash call indebtedness to international oil companies to $3.5 billion. Read more

Nigeria’s daily crude production in 2018 stood at 2.019 million barrels – NNPC

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The Nigerian National Petroleum Corporation (NNPC) says that the national average daily crude oil production stood at about 2.019 million barrels in 2018. Read more

Kachikwu Attributes Fuel Queues To Logistics Gap

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Dr Ibe Kachikwu, Minister of State, Petroleum Resources, says the queues at filling stations is as a result of logistics challenges and has nothing to do with petrol scarcity. Read more

At New York Auto Show, Competition Heats Up and Strategies Diversify

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The New York International Auto Show kicks off this week in Manhattan, and as usual much has leaked or been released beforehand. Read more

How banks make free money from govt funds — Ex-CBN gov, Sanusi

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The oppressive impact of the myriad charges on the transactions of every owner of a bank account in Nigeria was the subject of discussion in this column in recent weeks. Read more

NSE to leverage alternative platforms for capital raise

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AS Fintech and investment into the space continues to gain traction around the globe, the Nigerian Stock Exchange, NSE, said it plans to explore new technologies including blockchain and Distributed Ledger Technology (DLT) for capital raise. Read more

Recycling industry demands federal action as mountains of rubbish build up

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This is where tonne after tonne of household recycling from yellow-topped bins ends up after it is hauled away from kerbs across the city — milk bottles, cereal boxes, tins, beer cans. Read more

Possible fuel subsidy removal triggers panic buying

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The Federal Government’s announcement that it would undertake a gradual phase out of fuel subsidy, weekend, triggered panic buying of Premium Motor Spirit, PMS, also known as petrol, across some states of the federation. Read more

ExxonMobil, other oil coys not exiting Nigeria – Kachikwu

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Kachikwu made this known while briefing newsmen after facility tour of ExxonMobil Erha Floating Production Storage and Offloading vessels (FPSO) in Lagos on Sunday. Read more

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