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Budget: Finance Minister defends envelope system budgeting process

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NIGERIA’S Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala has defended the controversial ‘envelope system’ budgeting process adopted by the country’s Ministry of Finance.

Okonjo-Iweala, who appeared...
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Court clears hurdles for Union Bank to recover N459m loan

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AN Abuja High Court has struck out the suit instituted by a member of the Board of Directors of Keystone Bank, Dr Maude Aminun-Kano, praying it for an order restraining Union Bank from selling his property in settlement of a loan of N459 million...
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ECOWAS to harmonise land policy to boost food sufficiency

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THE Economic Community of West African States (ECOWAS) is set to develop a roadmap to harmonise land policies among member states to ensure a food-sufficient in the region.

The ECOWAS Commissioner, Agriculture, Environment and Water Resources...
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Panel concludes consultations on illicit financial flows

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THE High Level Panel on Illicit Financial Flows (IFF) has concluded a three-day consultation with a wide range of stakeholders in Nigeria, aimed at understanding of the damaging effects of illicit financial flows on the Nigerian...
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Etisalat targets 2015 breakeven period, explains issues in number porting

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WITH over 15 million subscriber base and over six years of operations in Nigeria, Emerging Markets Telecommunications Service Company trading as Etisalat in the country has said it hoped to breakeven on its investment in Nigeria by...
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Mobile payments hit N64b, new body partners CBN on scheme’s promotion

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STAKEHOLDERS in the nation’s financial sector have formed a body to help government and telecommunications operators develop industry standards and modalities for the advancement of mobile financial services in the country.

The move was sequel...
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PPPRA hinges competitiveness in downstream on PIB

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PETROLEUM Product Pricing and Regulatory Agency (PPPRA) has hinged the competitiveness of the downstream sector in Nigeria to the implementation of the proposed reforms as contained in the Petroleum Industry Bill (PIB).

The Executive Secretary of...
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‘Govt’s role critical in Nigeria’s broadband deployment’

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IF Nigeria’s broadband deployment strategy must materialise, government at all levels of governance have a major role to play, the National Broadband Committee has said.

According to them, governments at various levels have critical roles to...
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Investors stake interest in Nigeria’s auto industry’s revival

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A FRESH move may have commenced to revive the nation’s comatose automobile manufacturing sub-sector, courtesy of renewed interests by foreign investors in the country.

Indeed, some of the investors have already made their plans known to the...
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Path to effective credit management in banks, by stakeholders

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Bisi-OnasanyaFINANCIAL sector’s stakeholders have prescribed the promotion of effective credit reporting and financial inclusion, to ensure fool proof risk management strategy in banks.

The stakeholders made the assertion in their separate presentations at...
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Govt seeks intervention fund to revive power plants

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Nebo-04_05_2013THE Ministry of Power has opted to shop for an intervention fund to revamp the country’s ailing power plants before the final handover to the new owners in July.

The fund raising strategy was informed by the fact that the country’s power...
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Nigeria’s connected lines hit 161.9m amid downturn in telecoms services

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JUWAH-OKDESPITE the downturn in telecommunications services in the country, the nation’s connected telephone lines grew by 2, 049, 470 in March 2013.

Indeed, the country’s connected lines as at February 2013 was 159, 879,295 but went up to 161, 928...
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Lingering unemployment level worries CITN

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JEGEDETHE Chartered Institute of Taxation of Nigeria (CITN) has decried the persistent high unemployment level in the country, which it described as inimical to the nation’s economic growth and development.

The President of the institute, John Femi...
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