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SMEDAN secures $12bn S/Korea commitment to establish skills acquisition facility
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has secured a $12 billion commitment from South Korea to establish a Skills Acquisition Centre in Abuja, as part of efforts to strengthen entrepreneurship and boost small businesses across Nigeria. This is…
Diezani: When spirited woman is caught in the web of power
Sopuruchi Onwuka The acquittal of former Petroleum Minister Diezani Alison-Madueke by a London jury after more than a decade of investigations and legal battles has reopened a larger conversation about one of the most consequential and controversial figures in the…
Modibbo varsity wins N50m prize at NCDMB’s engineering olympiad
Team Mavericks from Modibbo Adama University, Yola, on Wednesday emerged the overall winners at the grand finale of the maiden Nigerian Engineering Olympiad held over two days in Lagos. The team won the contest with their innovation, “Sarafa Community Security…
FG, marketers set for showdown over planned fuel price control regime
Petroleum products marketers have threatened an industry shutdown if the federal government enforces its planned activation of the price control mechanism aimed at driving down the current high prices of the commodity in the country. The declaration followed calls by…
CBN shuts 46 microfinance banks over regulatory breaches, as NDIC begins process of orderly closure of affected MFBs
Central Bank of Nigeria (CBN) has announced revocation of the operating licences of 46 microfinance banks (MFBs) for failing to comply with key regulatory requirements. This is also as the Nigeria Deposit Insurance Corporation (NDIC) said it has commenced the…
PenCom, ICPC recover over N3bn in unremitted pension contributions, as crackdown on defaulters intensifies
National Pension Commission (PenCom) says it has recovered over N3 billion in unremitted pensions contribution,as its crackdown on defaulting employers across the country intensifies. PenCom, in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), had commenced…
FG to seek compensation from S/Africa for Nigerian businessowners displaced by xenophobic attacks
Federal Government has stated that it will seek compensation from South Africa for Nigerians who lost businesses and properties after fleeing violent anti-African immigrant protests sweeping that country. Acting Nigeria’s High Commissioner to South Africa, Alexander Ajayi said affected returnees are…
FG to issue fresh N729bn bond for GenCos settlement, as legacy debt rises to N6.8trn
Nigerian government has disclosed that it is pushing ahead with the second tranche of about N729 billion bond issue to settle part of the power sector’s legacy debt to Electricity Generation Companies (GenCos). The Nigerian Bulk Electricity Trading Plc (NBET) confirmed…
Cooking gas prices drop amid supply surge
Retail prices of the Petroleum Liquefied Gas (LPG) also known as cooking gas have dropped massively from the N2, 300+/kg across the country to as low as N1, 000/kg, as confirmed by the Nigerian Association of Liquefied Petroleum Gas Marketers…
ProvidusUnity Bank announces commencement of unified operations
Fresh from its recent merger deal, the ProvidusUnity Bank has announced official commencement of operations as a single banking institution. The new bank disclosed that it has completed all regulatory approvals, shareholder endorsements and judicial processes required to consummate the business…
