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Forget Oil Marketers’ Threat, There’s Sufficient Petrol — NNPC

The Nigerian National Petroleum Corporation on Monday said that Nigeria will not encounter a scarcity of Premium Motor Spirit , popularly known as petrol, this season regardless of the recent threat and ultimatum by oil marketers . The corporation said it was engaging the marketers and other agencies of government to

Polaris Bank Chairman Now Corporate Governance Fellowship

The Society for Corporate Governance Nigeria (SCGN) has inducted the Chairman of Board of Directors, Polaris Bank Limited, Mr. Muhammad Ahmad, as a honorary Fellow of the Society. Ahmad, was conferred with the fellowship award at the 2018 President’s Dinner/Induction Ceremony of the Society, held in Lagos recently. In his citation read

NCC Sets 2020 for 5G Rollout in Nigeria

  The Nigerian Communications Commission (NCC) has said Nigeria would be ready to roll out 5G networks with the 26GHz, 38GHz and 42GHz spectrum bands by 2020. The Executive Vice Chairman of NCC, Prof. Umar Danbatta, said this in Abuja Thursday during a collaborative meeting with GSMA for 5G rollout in Nigeria. According

Moody’s: Weak Capital Buffers Reveal Tier 2 Banks’ Vulnerability

Nigerian businesses lose $25bn annually to power outages One of the leading global rating agencies, Moody’s Investor Service, yesterday pointed out that the smaller banks in Nigeria, commonly known as the tier 2 banks, are operating with weaker capital buffers, which indicate vulnerability of these banks. This is coming as World

FG to conduct impact assessment on privatised enterprises

…underperforming power firms know fate in December The Federal Government is set to conduct an Impact Assessment on some selected privatised enterprises under the reform and privatisation programme. The Bureau of Public Enterprises (BPE) will carry out the exercise in collaboration with the National Bureau of Statistics (NBS) and Nigeria Institute

Banks refund N6.8bn excess charges to customers

THE Central Bank of Nigeria, CBN, yesterday, disclosed that commercial banks have refunded N6.8 billion excess charges to their customers in the first half of 2018, H1’18. The apex bank disclosed this in its half year, 2018 economic review report. The report showed that the N6.8 billion excess charges refunded in

3 banks fail CBN’s liquidity ratio requirement

Three banks failed to meet the 30 percent liquidity ratio requirement of the Central Bank of Nigeria, CBN, even as investigations revealed prevalence of major foreign exchange malpractices in the banking industry. The CBN disclosed this in its 2018 half year, H1’18, economic review released yesterday which indicated slight improvements in

Capital Outflows Force Nigeria’s External Reserves Down to $41.995bn

Nigeria’s external reserves fell to $41.995 billion at the end of October, representing a decline by $5.793 billion or 12.12 per cent, compared with the $47.788 billion it was as at the end of June, 2018, data compiled from the Central Bank of Nigeria’s (CBN) website has shown. The development was

Banks Lose N12.06bn to Fraud in Six Months, Says CBN

The Central Bank of Nigeria (CBN) has revealed that commercial banks in the country lost a total of N12.06 billion to fraud and forgeries in the first six months of 2018. This is just as the banking sector regulator revealed that as of June 2018, three commercial banks did not have