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Air Peace loses N3bn over flight delays, damaged aircraft

— 25th April 2017 By Philip Nwosu and Louis Ibah Managing Director/CEO of Air Peace Limited, Mr. Allen Onyema, has decried the rise in passenger attacks on airline staff and assets in recent weeks at some local airports, saying the trend poses serious threats to the safety of airline operations in the country. Onyema, who stated this at a press …

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Stamp Duty not suspended with charges on cashless policy

— 25th April 2017 By Omodele Adigun The Central Bank of Nigeria (CBN) has dismissed the rumours making the rounds that Stamp Duty has been suspended alongside the new charges on cashless policy. According to its Director of Banking & Payments System Department, Mr. Dipo Fatokun, the suspension of the nationwide implementation of the excess withdrawal/deposit processing charges has nothing …

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PenCom appoints Dahir-Umar Acting DG

— 25th April 2017 By Maduka Nweke Following the replacement of the former Director General (DG) of National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu, the organisation, yesterday, appointed Mrs. Aisha Dahir-Umar as Acting DG pending the confirmation of the DG designate by the Senate. According to the Head, Communication, PenCom, Emeka Onuora, Mrs. Dahir-Umar will steer the activities of the …

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Heritage Bank gives BB Naija 5 top finalists  investment support

In its continual commitment to boost the Small Medium Enterprises (SMEs) sector, Heritage Bank Plc, one of the sponsors of Big Brother Naija Season-2 reality TV show, yesterday, rewarded the five top finalists with financial investment support to enhance their entrepreneur drives. A statement from the bank said that Efe, Bisola, TBoss, Debbie Rise and Marvis, who were the top …

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Bank accounts without BVN’ll be barred by August 1, says CBN

— 25th April 2017 Stories by Omodele Adigun As from August 1, all customers without Bank Verification Number (BVN) linked to their bank accounts will not be allowed to make withdrawal from those accounts, says the Central Bank of Nigeria (CBN). According to the apex bank, the measure becomes necessary as the absence of a unique identifier in the banking …

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How to make money from event centres

There are many opportunities that are disguised as challenges. One of such areas is the absence of public halls that can be used at affordable prices by residents of several communities. In the developed world, there is the availability of public halls that can be used to host events by residents of those communities. There are also several private events …

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Nigeria must eliminate multiple exchange rates – Soludo

Oyetunji Abioye A former Governor of the Central Bank of Nigeria, Prof. Chukwuma Soludo, on Monday highlighted steps the Federal Government needed to return the country out of the biting economic challenges and get back on the path of growth. Soludo said policymakers must get the country out of the current multiple exchange rates’ regime and reduce the wide spread …

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Nigeria to get new aircraft maintenance hangar

Rasheed Bisiriyu and Godwin Isenyo Indication emerged on Monday that a new aircraft maintenance hangar would be developed in Abuja to service Nigeria and other West African countries. This hint coincided with the announcement by the Federal Government of its preparedness to phase out obsolete trainer aircraft at the Nigerian College of Aviation Technology, Zaria, Kaduna State, and replace them …

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FG begins talks with illegal crude oil refiners

Okechukwu Nnodim, Abuja The Federal Government on Monday announced that it had commenced discussions with illegal refiners of crude oil in order to have them work as duly recognised modular refinery operators. It also stated that it would ensure that militancy in the Niger Delta ended by the end of this year, adding that it would sustain its engagements with …

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Naira drops to 390/dollar, CBN sells fresh $246m

Oyetunji Abioye The naira reversed some of the gains it recorded last week, closing at 390 against the United States dollar on the parallel market on Monday. The local currency had closed at 380/dollar on Friday. The naira has been hovering between 380/dollar and 410/dollar in the past two weeks as the Central Bank of Nigeria continues to intervene in …

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