Business

Nigeria’s exports to Indonesia grows by 300 per cent

The Indonesian Envoy to Nigeria, Amb. Harry Purwanto, on Monday announced that Nigeria’s exports of crude oil and agricultural products to Indonesia had between January and August last year increased by 300 per cent. Purwanto, however, told newsmen ub Lagos that Indonesian exports to Nigeria within the period only increased ...

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SEC begins forensic audit of Oando Wednesday

The Securities and Exchange Commission (SEC) will commence a forensic audit of Oando Plc on Wednesday, contrary to reports that the audit had been stopped following the suspension of the Director-General of the Commission, Mr Mounir Gwarzo. In a letter obtained by our correspondent on Tuesday in Abuja,  SEC notified ...

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Naira appreciated by 30.3% against dollar in 10 months

The naira has appreciated by 30.3 per cent since February when the Central Bank of Nigeria (CBN) began its aggressive interventions at the foreign exchange market, the News Agency of Nigeria (NAN) reports. The Nigerian currency had exchanged at N520 to the dollar at the peak of onslaughts by currency ...

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Petroleum scarcity looms as marketers set to confront NNPC in Lagos

Independent petroleum marketers in Lagos State have threatened to withdraw their services from Dec. 11 over NNPC’s breach of bulk purchase agreement to sell fuel to them at N133.28k per litre. The Independent Petroleum Marketers Association of Nigeria (IPMAN), Lagos State Chapter, on Wednesday said it was set for a ...

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FG suspends DG SEC, two others over corrupt practices

The Minister of Finance, Mrs Kemi Adeosun has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr Mounir Gwarzo, from office over allegations of financial misappropriation. The Ministry’s Deputy Director of Information, Mrs Patricia Deworitshe in a statement on Wednesday said that the suspension was to allow unhindered ...

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Nigeria begins exports of Gas to Pakistan

Pakistan has begun the importation of Nigeria’s Liquefied Natural Gas (LNG) as part of efforts to deepen the economic relationship between the two nations. Pakistan Head of Chancery, Asim Khan, told newsmen on Tuesday in Abuja that the first consignment of 70,000 metric tonnes of the gas had arrived at ...

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NSE trading resumes on negative trend, index drops by 0.31%

Activities reopened on the Nigerian Stock Exchange (NSE) on Monday on a negative trend, with the All-Share Index shedding 0.31 per cent. The News Agency of Nigeria (NAN) reports that the index lost 115.13 points or 0.31 per cent to close at 37,250.78 against 37,365.91 achieved on Friday. Also, the ...

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We’ve collected 79.35% of 2017 tax target in 10 months, says FIRS boss

The Federal Inland Revenue Service (FIRS), on Monday in Abuja, said it generated N3.233 trillion in 10 months, an amount that represented 79.35 per cent of its collection target for 2017. Mr Tunde Fowler, the Executive Chairman of FIRS, disclosed this at interactive session for review of 2018–2020 Medium Term ...

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Naira sells at N362.5 per dollar at parallel market

The Naira on Tuesday traded at N362.5 to the dollar at the parallel market, the News Agency of Nigeria (NAN) reports. Meanwhile, the Pound Sterling and the Euro closed at N476 and N426 respectively. At the Bureau De Change (BDC) window, the Naira flattened at N362 to the dollar, while ...

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Dangote opens $300m cement plant in Congo

Africa’s largest cement Company, Dangote Cement, has commissioned its $300 million plant in Mfila, Congo Brazzaville. The 1.5mtpa capacity cement plant was commissioned on Thursday amid ecstasy by the government and the indigenes of the Country. The plant also has potentials to create about 1000 direct employment and thousands of ...

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