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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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Art of selecting an investment banker

S electing the right investment banker for your business is like choosing a spouse. The stakes are high, and chances are no one understands your situation quite like you do. Though others might be involved in the courtship, the decision on whom to partner is yours to make with an awful lot hanging in the balance. You will need thoughtful …

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Non-release of funds frustrating our plans — Bayelsa

Simon Utebor, Yenagoa The Bayelsa State Government has said that the non-release of the London-Paris Club refunds by the Federal Government is frustrating its plans to clear backlog of workers’ salaries and other  debts. The Commissioner for Information and Orientation, Mr. Jonathan Obuebite, disclosed this in a telephone interview with our correspondent on Monday. Obuebite said, “Already, the government has …

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CAC now registers companies in 48 hours

The days required for registration of new businesses in Nigeria by the Corporate Affairs Commission, CAC, has been reduced from 10 to 2, courtesy of a reform agenda of the Buhari administration. Besides, there is also now a 24-hour timeline for company registration from when application form is completed and all required documents made available. VP Osinbajo Also, prospective business …

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Diamond Bank’s profit after tax drops to N3.49 billion

Related News Diamond Bank’s profit after tax dipped by 38.34 per cent during the financial year ended December 31, 2016. The News Agency of Nigeria reports that the bank’s profit after tax dropped to N3.49 billion from N5.66 billion recorded in 2015. These financials are contained in a statement issued by the bank in Lagos on Monday. It said that …

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