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MTN Nigeria Hits N1 Trillion Revenue Landmark, Launches Smart Feature Phone

Despite its tussle with CBN, leading Nigerian telco, MTN Nigeria, ended its 2018 on a high note. Figures from its 2018 full year investor presentation shows that the company made a revenue of N1.03 trillion in 2018. This indicates a 17.1% year on year increase from N887 billion in 2017 and accounts for 28.2% of revenue made by the entire MTN group. ...

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Tax evasion: FIRS appoints Sterling Bank as recovery agent

The Federal Inland Revenue Service has appointed Sterling Bank Plc as a collecting agent to recover taxes from 2,933 defaulting companies. This was disclosed in a letter signed by the Chairman, FIRS, Mr Tunde Fowler, and addressed to the Managing Director/Chief Executive Officer, Sterling Bank, Abubakar Suleiman. The letter, which was obtained by our correspondent, was titled, ‘Letter of substitution ...

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Nigeria Stock Exchange Shows Positive Signs this February

For the first in several weeks, equity transactions on the trading floor of the Nigerian Stock Exchange (NSE) reopened in an upbeat yesterday, with investors repositioning in fundamentally sound stocks, causing the All-share index to appreciate by 0.4 per cent. Yesterday, the All -share index (ASI) gained 108.69 absolute points to represent an increase of 0.4 per cent, to close ...

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#Bitcoin: Are Nigerian investors feeling safe with Crypto-currency?

Despite contrary indications from the Central Bank of Nigeria, it appears that the new payment technology, cryptocurrency, has gained significant traction in the past year. This may indicate a strategic positioning for the next stage in Nigeria’s changing payment landscape. According to the Luno Cryptocurrency 2018 Awareness Survey, 65% of Nigerians expressed familiarity with cryptocurrencies. It further indicated that of the total respondents, 76% of men and 54% of ...

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“All recovered assets must be judiciously utilised” – ANEEJ Boss

Executive Director, African Network for Environment and Economic Justice (ANEEJ), Reverend David Ugolor has retriated the commitment of ANEEJ as a civil society organisation under his watch to track and monitor the ongoing recovery of Abacha looted assets in tune of USD 322.5million to ensure that they are judiciously utilised in solving several developmental setbacks in the country. Ugolor made ...

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Forex: CBN pumps $210m into Inter-Bank Market!

In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria (CBN) on Tuesday injected another sum of $210 million into the inter-bank foreign exchange market. Figures released by the CBN indicated that authorised dealers in the wholesale segment of the market received the sum of $100 million, while the Small and Medium Enterprises (SMEs) ...

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MTN Nigeria to be listed on the Nigerian Stock Exchange this Year!

The Chief Executive Officer of MTN Group, Rob Shuter has disclosed that its Nigerian subsidiary, MTN Nigeria will be listed on the Nigeria Stock Exchange (NSE) before the end of this year. He made this known in an interview with CNBC Africa on the sidelines of the World Economic Forum taking place in Davos, Switzerland. This revelation may be a confirmation of a ...

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#Malnutrition: FG budgets N300 million for ‘ready to use food’

As part of the efforts to curb child malnutrition in Nigeria, President Muhammadu Buhari has proposed about N300 millions in the 2019 budget for the procurement of Ready to Use Therapeutic Food ( RUTF). According to the budget breakdown, the RUTF will be distributed across the country, while part of the money will also be used to establish Community Management ...

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‘Provide the list of absconded Contractors for power projects’ -SERAP to Fashola

The Socio-Economic Rights and Accountability Project (SERAP) has sent a Freedom of Information (FoI) request to Babatunde Fashola, SAN, Minister of Power, Works and Housing, urging him to use his good offices and leadership position to “urgently provide information on specific names and details of contractors and companies that allegedly collected money for electricity projects but failed to execute any ...

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Cinema Another goldmine? top patronage in December, N600 Million spent by Nigerians

Cinema bussines is gradually becoming another goldmine as cinema culture is spreading very quickly among Nigerians and the latest statistics released by the Cinema Exhibitors Association of Nigeria (CEAN) for the month of December 2018 shows us in figures, just how massive it has become. According to the report on CEAN’s website, Nigerians spent a total of N680 million watching films ...

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