BREAKING: One feared killed in Ogun as Customs clash with alleged rice smugglers
One person who was alleged to be a rice smuggler was said to have been killed by the operatives of the Nigeria Customs
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Business
Nigeria loses N3.45bn daily as Shell shuts Bonga oil field
Nigeria’s first deepwater development, the Bonga field, has been shut down, causing oil firms and the nation a huge loss of revenue estimated
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Dollar crashes again at parallel market
The greenback on Monday crashed against the Naira, as the Nigerian currency gained 5 points at the parallel market against the Dollar. The
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Peugeot manufacturer buys Opel $2.3bn
PSA Group, makers of Peugeot and Citroen cars has agreed to buy Opel from General Motors (GM) for 2.2 billion euros ($2.3 billion).
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NLNG’s revenue crashes by N646.6bn
The Nigeria Liquefied Natural Gas Limited posted a revenue decline of N646.6bn ($2.12bn at N305/$ official exchange rate) in its 2016 financial year.
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Customs gives a grace period for payment of vehicle duties
The Comptroller-General of Customs, Col. Hameed Ibrahim Ali (Rtd) has approved a grace period of one month, between Monday, 13th March to Wednesday
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Again, Naira loses ground against US dollar
The Naira yesterday Friday depreciated against the dollar at the parallel market after posting days of appreciation. The nation’s currency lost N7 to
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Company sues Nestle, bank for disobeying trade agreement
Nestle Nigeria Plc has been dragged before an Oyo State High Court, sitting in Ibadan, by the owner of First Nigeria Enterprises, Prof.
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Bitcoin ‘creator, Nakamoto,’ races to patent technology
The man who last year made global headlines by claiming to be Satoshi Nakamoto, the creator of bitcoin, is working with a fugitive
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$1.6b Malabu oil block: Eni’s Board insists no shady deal
Despite the seizure the controversial $1.6b Malabu Oil Block, one of the four indicted oil giants, Eni(Nigeria Agip Exploration Limited) yesterday insisted that
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Dangote exports 400,000 metric tons cement
Following continuous increase in its production capacity, foremost cement manufacturer, Dangote cement Plc has finally ended the era of Nigeria’s dependence on importation
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Customs seizes 9000 bags of rice in Ibadan
In another dramatic raid, the Nigeria Customs Service (NCS), Oyo/Osun Command, has seized 9,000 bags of imported rice in a warehouse in a
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Uber executive quits over Google sex charge
Former Google executive Amit Singhal has left his new job at Uber for not disclosing an allegation of sexual harassment at his former
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Samsung boss indicted for bribery, embezzlement
The heir to the Samsung empire, Lee Jae-Yong and four other top executives were indicted Tuesday on multiple charges including bribery and embezzlement,
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Ooni of Ife to host corporate gathering in London
His Imperial Majesty, Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, will host a massive gathering of corporate personalities in London, United
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Ponzi scheme Yuan Dong shut down, masterminds arrested
Securities and Exchange Commission (SEC) says it has sealed up the premises of Yuan Dong (YDEC) for unacceptable investment operations in the country.
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Aluko, Diezani’s ally owes tax in New York
Kola Aluko, a Nigerian oil mogul, wanted by the Economic and Financial Crimes Commission is owing the City of New York some overdue
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Ladipo traders hold candlelight procession in honour of slain colleague
Trading activities were suspended for six hours at the Ladipo Auto Market, Mushin in Lagos, on Saturday as traders held a remembrance service
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MTN Team visits Osinbajo
An MTN Team led by the Nigerian chairman, Pascal Dozie visited Acting President Yemi Osinbajo on Thursday in Abuja. MTN Group chairman, South
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CBN reintroduces charges on cash deposits, withdrawals
The Central Bank of Nigeria on Thursday announced the reintroduction of bank charges on certain categories of cash deposits and withdrawals. This came
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Adeosun: FG seeks $2.3bn loans from W/Bank, China …says no need for IMF loan
The Federal Government is seeking to borrow at least $1bn from the World Bank and another $1.3bn from China’s Export-Import Bank, the Minister
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FG to reduce agencies operating in ports to six
The Federal Government is currently working towards streamlining the number of agencies operating in the nation’s ports to only six from about eight.
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Naira hits 520/dollar, forex retailers examine CBN action
The naira tumbled to 520 against the United States dollar at the parallel market on Monday as scarcity of the greenback continued to
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Recession: Telcos may block Skype, WhatsApp calls, target N20tn revenue
Telecoms companies in the country are hoping to address concerns over revenue loss from international calls and hit a revenue target of N20tn
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Forex crisis: CBN rolls out new Forex policy, will fund BTA, PTA, Medical, school fees
Nigeria’s Central Bank on Monday rolled out new forex measures to curb the galloping exchange rate of the naira as it vowed to
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US shale oil producers drag down oil prices
Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles
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Kraft Heinz abandons bid for Unilever
Unilever: Kraft Heinz abandons take-over offer U.S. food company Kraft Heinz Co withdrew its proposal for a $143-billion merger with larger rival Unilever
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Goodie Ibru throws in the towel as the Chairman, Ikeja Hotels Plc
Goodie Ibru has tendered his letter of resignation as chairman of Ikeja Hotels plc, weeks after a court ruling validated his position. Ibru, in a
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Nigeria loses China’s second biggest trade partner position
Nigeria has dropped to the fourth position as China’s trade partner in Africa from its former second position, the Chinese Ambassador to Nigeria,
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Revealed: FG has reintroduced subsidy on petroleum products
Petrol subsidy is back. The Nigerian National Petroleum Corporation has been offsetting for months the difference between the landing costs of petrol and
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