The Secretary of the Independent Petroleum Marketers Association of Nigeria, IPMAN Abuja-Suleja, Mohammed Shuaibu, has disclosed that the National currency crisis affected its members. Shuaibu on Wednesday spoke on the recurring decimal of fuel scarcity in most parts of the country. He explained that petrol marketers are worse hit by …
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The International Monetary Fund has urged the Central Bank of Nigeria to extend the February 10 deadline on new, old naira notes swap. In a statement in Abuja on Wednesday by IMF’s representative, Laraba Bonet, the Washington based bank disclosed that the economic and trade disruptions caused by the naira …
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The Central Bank of Nigeria (CBN) Tuesday said it would withdraw the licenses of Point of Sale (PoS) agents found culpable of inflating the charges on customers who withdraw money from their POS in the state. Daily Trust reports that POS operators in the state are collecting between N1000, N1500 and N2000 …
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The stock market suffered a N37 billion decline on Tuesday after experiencing a six-day successive bullish run on the floor of the Nigerian Exchange Limited. The All-Share Index declined by 67.98 final points, representing a decrease of 0.13 per cent, to close at 54,299.76 points. The overall market capitalisation value …
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Over 50 per cent of Point of Sale operators have shut down their businesses as scarcity of the new naira notes persists. Mr Hussein Olanrewaju, the National Chief Aggregating Officer of the Association of Mobile Money and Bank Agents in Nigeria, made this disclosure on Monday. According to him, their …
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The Federal Government said it had spent N612.6 billion in loans raised through Sovereign Sukuk between 2017 and 2021 for the construction and rehabilitation of 77 roads and 23 bridges. Zainab Ahmed, the Minister of Finance, Budget and National Planning, disclosed this on Monday at the symbolic 2022 Sukuk Issue …
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Jaiz Bank, the Premier Non-Interest Bank in Nigeria has recorded a N.67 billion Profit Before Tax, at the close of its 2022 operation year. The figure, according to the statement by the bank, yesterday, represented a significant increase in Profit Before Tax (PBT) by 52.63% from the N4.37 billion recorded …
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The Director-General, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Mr Sola Obadimu, said the Central Bank of Nigeria, CBN, should have introduced the N5,000 note rather than redesigning old notes. According to the News Agency of Nigeria, NAN, Obadimu disclosed this on Monday. He spoke amid …
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The Independent Petroleum Marketers Association of Nigeria, IPMAN, has denied planning to cease operations once the government enforces N195 per litre pump price. A statement on Monday by National Operations Controller Mike Osatuyi advised the public to ignore the information. Mojeed Adesope, Publicity Officer of Ibadan Depot, on February 3, …
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FOLLOWING the new naira notes swap policy by the Central Bank of Nigeria, CBN, Point of Sales, POS, operators have resorted to exploiting Nigerians. Prior to the introduction of the policy, POS operators charged N100 for every N1000 cash withdrawal, but the situation has changed. Newsextra24 reports that POS operators …
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