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Finance

MEA Awards

Rosabon Emerges MEA 2016 Winner For Bespoke Wealth Management Services

Finance / By / January 16, 2017

Rosabon Financial Services, Nigeria’s leading Non-Banking Financial Intermediary firm has once again recorded another global success as it recently clinched the MEA Business Award for Leading Experts in Bespoke Wealth Management Services. The 2016 MEA Business Award which focuses on all sectors and industries recognizes and rewards truly outstanding work done by the Middle East …

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Tobacco costs global economy $1trn annually —WHO

Finance / By / January 16, 2017

A study has revealed that tobacco costs global economy more than $1 trillion annually. The study, The economics of tobacco and tobacco control, conducted by the World Health Organization (WHO) and the National Cancer Institute of the United States of America, indicated that effects of unchecked tobacco production into global economy costs more than six …

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Efritin shuts Nigeria office, blames bad economy

Finance / By / January 16, 2017

Efritin (pronounced ‘Everything’) has stopped further investments in Nigeria and has wound down operations, just 16 months after its official launch. Investigation showed that high cost of data and operational demands forced the e-classified advert player to close shop. The company’s staffs are already vacating the head office located in Ikeja while office properties are …

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Naira on a free fall as it crashes to nearly 500/Dollar in open market

Finance / By / January 16, 2017

The Nigerian naira fell close to 500 against the dollar on the unapproved open retail market due to dollar shortages on Friday as retail currency operators set their quotes for dollar purchases at 399 for next week, traders said. Bureau de change operators said the central bank had approved 399 naira for retail trades this …

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FDC Predicts further depreciation of the Naira

Finance / By / January 16, 2017

Under the current market regulatory framework, the naira is bound to remain under pressure and unstable until the market is allowed to operate freely and efficiently. This was disclosed by a group of analysts at Financial Derivatives Company (FDC) Limited in their outlook for the naira in 2017. According to Bismarck Rewane, FDC’s Chief Executive …

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FG To boost Agric earnings

Finance / By / January 16, 2017

With substantial boost in production of many agricultural produce and traders from central and North African countries flooding Nigeria to import commodities, the Federal Government (FG) is moving to maximize its advantage by resuscitating the moribund Nigeria Commodities Exchange (NCX). Since the abolition of marketing boards by the Babangida administration, there has not been any …

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Shell battles Nigerian communities in high-stakes London lawsuit

Finance / By / January 10, 2017

A court in London will decide in coming weeks whether Royal Dutch Shell can face trial in the UK over oil spill allegations in Nigeria, a decision some legal experts predict could attract more cases against multinationals in Britain. The High Court will judge whether members from two communities, Bille and Ogale in Nigeria’s oil-rich …

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Unremitted N450bn: FG issues new guideline for calculating surplus

Finance / By / January 10, 2017

The Federal Government, in a bid to check the high level of under-remittance of funds by revenue-collection agencies, has issued fresh guidelines for the computation of operating surpluses. The new guideline that will guide the preparation of the agencies’ financial statements for the next three years covering up to 2019 is contained in a circular …

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