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Business News Brief – July 24, 2015



CBN adjusts rate as naira falls to 244-The Central Bank of Nigeria on Thursday adjusted its exchange rate peg to N197 against the United States’ dollar from the N196.95 it set last week, data on the bank’s website showed.[Read More…]

Banks extend loan repayment period for states-BANKS have resolved to extend the repayment period of short-term loans owed by states to a minimum of 20 years.[Read More…]

Stakeholders address investors’ concerns about stock market-Industry stakeholders on Thursday said the Nigerian capital market had recorded significant growth in recent years, expressing optimism that the pressure from the nation’s macro-economic fundamentals on the market would be short-lived.[Read More…]

Unilever posts 95% drop in half-year profit-Unilever Nigeria Plc has reported a decline of 95.47 per cent in its profit after tax for the first half of 2015.[Read More…]

FG takes over Yola Disco from private investors-Following the declaration of force majeure by Integrated Energy Distribution and Marketing Company, the core investor in the Yola Electricity Distribution Company, the Federal Government has taken over the beleaguered power firm[Read More…]

PHEDC unveils 10-year tariff increase plan-The Port Harcourt Electricity Distribution Company on Thursday unveiled a plan for the gradual increase in electricity tariff for its customers over the next 10 years.[Read More…]


Federal court strikes out NERC’s objection to electricity tariff hike- Lagos yesterday struck out a preliminary objection filed by the Nigerian Electricity Regulatory Commission (NERC) challenging the suit against the proposed hike in electricity tariff across the country.[Read More…]


FG to urged privatise govt assets via stock exchange – Operators in the nation’s capital market have called on the Federal Government to  use the Nigerian Stock Exchange, NSE to privatise public assets so that  majority of Nigerians can benefit from the exercise. The operators noted that using the stock exchange would provide the needed transparency instead of allowing few people to benefit from the privatisation exercise.[Read More…]


Dangote  set to deliver Africa’s largest multi-dollar rice project in  Jigawa State-JIGAWA state government as well as the host communities have thrown their weight behind the  Dangote Rice project expected to be the largest in Africa and with prospects for creation of thousand of job opportunities.[Read More…]


Collapse of Forex Market stalls $200m Diaspora fund-Nigerians in Diaspora Organisation (NIDO) has said the collapse of Stock Exchange Market has stalled its $200 million investment fund project.[Read More…]


Exclusive: Buhari advised to overhaul Nigerian oil sector, increase debt– Advisors to Nigerian President Muhammadu Buhari have recommended a root and branch overhaul of Africa’s biggest oil industry and increased borrowing to help pay off $20 billion of government arrears, a reform proposal document shows.[Read More…]

European shares fall after U.S. data, Aberdeen AM leads-European equities fell in late trading on Thursday, with disappointing updates from companies including Aberdeen Asset Management and British energy supplier SSE putting pressure on their share prices.[Read More…]

Kenyan forex market, bourse cut Friday trading hours as Obama visits-Trading hours on Kenya’s stock and foreign exchange markets will be shortened on Friday due to President Barack Obama’s visit to East Africa’s biggest economy, traders and the Nairobi Securities Exchange (NSE) said.[Read More…]


Asian Stocks Drop With Metals as European Index Futures Decline – Asian stocks slipped, heading for their third weekly loss this month, as a surprise drop in a Chinese manufacturing gauge threatened to worsen a commodity rout. Copper slumped to a six-year low and gold slid to the lowest since 2010.[Read More…]


fake richard mille
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