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AFREXIMBANK, ICD SIGN $100M FINANCING AGREEMENT FOR SMEs

By Adebisi Adeyemi Lagos The African Export-Import Bank (Afreximbank) says it has signed a $100 million financing agreement with the Islamic Corporation for the Development of the Private sector (ICD) to promote SMEs in Shariah-compliant countries. A statement by the bank on Wednesday in Lagos said that the facility  being …

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FG’s priority is to create better environment for investments -Udoma

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FG’s priority is to create better environment for investments –Udoma Budget and National Planning Minister, Senator Udoma Udo Udoma has told a delegation of French businessmen that Nigeria’s priority is to create a better environment for businesses to thrive, as the country is focused on expanding the productive base of …

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FG DISCUSSES AGRIC PRODUCE EXPORTS WITH FOREIGN COUNTRIES, SAYS MINISTER

By Tayo Joseph Lagos The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, says the Federal Government is negotiating with some foreign countries to facilitate the exportation of Nigeria’s agricultural produce.   The minister, who said this on Tuesday in Katsina when he visited Gov. Aminu Masari of Katsina …

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NSE MARKET CAPITALISATION RISES BY N29BN

By Tayo Joseph Lagos The market capitalisation of Nigerian Stock Exchange (NSE) rose by N29 billion on Tuesday following rekindled investors’ confidence. The market capitalisation rose by N29 billion or 0.23 per cent to close at N12.810 trillion from N12.781 trillion recorded on Monday. Also, the All-share index grew by …

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LEGACY DEBTS ACCOUNT FOR $3BN OF $5.5BN FOREIGN BORROWING – ADEOSUN

…Says Nigeria’s debt to GDP ratio is within a reasonable threshold By Adebisi Adeyemi, Lagos The Honourable Minister of Finance, Mrs. Kemi Adeosun, on Wednesday, revealed that the Federal Government would apply the sum of US$3 billion in refinancing the legacy debts of the immediate past government. The outlay is …

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FG LOSES N1.69TN TO UNDER REMITTANCE BY CBN, NCC, OTHERS

By Adebisi Adeyemi, Lagos A Senate Ad Hoc Committee has revealed that 25 agencies have short changed the Federal Government to the tune of N1.695 trillion by deliberately refusing to remit revenue accrued to the Consolidated Revenue Fund. The committee also disclosed that, Nigerian National Petroleum Corporation (NNPC) was running …

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FIDELITY BANK PROFIT GROWS BY 65.1% IN NINE MONTHS

By Adebisi Adeyemi, Lagos Fidelity Bank Plc on Monday declared 65.1 per cent growth in profit before tax for the nine months ended Sept. 30, 2017. The bank posted profit before tax of N16.2 billion during the period under review compared with N9.8 billion achieved in the corresponding period of …

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