Economy
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SEC to continue enforcement against Ponzi schemes
The Securities and Exchange Commission (SEC) has assured the investing public that it will continue to deploy its enforcement mechanisms including collaboration with other relevant government agencies and stakeholders in its bid to curtail the activities of Ponzi schemes. This assurance was given by the Executive Commissioner Operations, SEC, Mr. Dayo Obisan during an Investor Education Programme for staff of…
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Finance, insurance contribution to real GDP drop to 3.49% in Q3 2022
The National Bureau of Statistics (NBS) on Thursday revealed that finance and insurance sector’s contribution to real Gross Domestic Product (GDP) dropped to 3.49 per cent in the third quarter (Q3) of 2022, a decline from 4.25 per cent it contributed in the second quarter (Q2) of year. However, the contribution of finance and insurance to real GDP, thus totalled…
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Nigeria’s GDP growth slows to 2.25% in Q3 2022, says NBS
The National Bureau of Statistics (NBS) on Thursday disclosed that Nigeria’s Gross Domestic Product (GDP) grew by 2.25per cent year-on-year in third quarter (Q3 2022), marking the slowest growth since the Covid-19 pandemic. According to the NBS, the slow growth is attributable to the base effects of the recession and the challenging economic conditions that have impeded productive activities. The…
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NCC to proceed with 2 lots of 3.5GHz spectrum auction as planned
The Nigerian Communications Commission(NCC) says it will proceed with its planned auction of 3.5GHz spectrum. This was contained in a public notice signed by the Director, Public Affairs of NCC, Reuben Muoka. The Commission, in the notice said it will continue to make the spectrum available for the public. “The Nigerian Communications Commission (the Commission), in line with Section 121…
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Naira redesign to control inflation, assist in fight against corruption, says Emefiele
The governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele on Wednesday in Abuja said the redesigned denominations of N1,000 , N500 and N200 will control inflation rate and assist the Federal Government in fighting corruption. Emefiele at the official unveiling of the new naira denominations alongside President Muhmmadu Buhari at the State House, added that the redesign policy of…
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Buhari expresses delight over new banknotes, praises NSPM, CBN
President Muhammadu Buhari on Wednesday inaugurated the new naira banknotes, expressing delight that the recoloured currencies were locally produced by the Nigerian Security Printing and Minting (NSPM) Plc. Speaking at the inauguration of the new banknotes which preceded the Federal Executive Council (FEC) meeting on Wednesday in Abuja, Mr Buhari explained in detail the basis for his approval to the…
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PHOTO NEWS: Buhari unveils new ‘look-alike’ naira notes
President Muhammadu Buhari on Wednesday in Abuja unveiled the new N1,000, N500 and N200 notes. …more details later
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Dangote Sugar increases Numan sugar plantation by 179% to 24,200 hectares
President of the Dangote Group, Alhaji, Aliko Dangote, has announced that the Dangote Sugar Refinery (DSR) Plc is scaling up its investment in the sugar sub-sector in line with the requirement of the Nigeria Sugar Master plan (NSMP). Speaking at the Flag off ceremony of the 2022/2023 Crushing Season and Outgrower Scheme Awards in Numan, Adamawa State, Dangote said the…
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Finance minister to launch revised capital market master plan
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed will launch the Revised Capital Market Master Plan this week in Lagos. The Revised Capital Market Master Plan is expected to be the Roadmap for the capital market for the next few years. This was announced by Securities and Exchange Limited (SEC) on Monday. This is also as the SEC…
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Pantami kickstarts landmark broadband projects, presents book
Minister of Communications and Digital Economy, Isa Ali Ibrahim Pantami, will on Thursday, November 24, 2022, in Abuja, preside over the commencement of landmark broadband initiatives to be implemented by the Nigerian Communications Commission, (NCC). The initiative is to accelerate broadband penetration in Nigeria and advance the course of digital economy projections for the nation. The event will witness the…
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