Tag: economy
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Central Bank Warns Against Use of Foreign Currency as Medium of Exchange in Nigeria
Abuja, Feb. 5 – THE USE OF FOREIGN CURRENCY AS A MEDIUM OF EXCHANGE IN NIGERIA The attention of the Bank has been drawn to the increasing use of foreign currencies in the domestic economy as a medium of payment for goods and services by individuals and corporates. It has…
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CBN Says No Plans to Convert Domicilliary Account Holdings to Naira
Abuja, Feb. 3 – The attention of the Central Bank of Nigeria (CBN) has been drawn to a story published by a national newspaper alleging that the Federal Government is considering converting $30bn domiciliary deposits to Naira. This allegation is absolutely false and aims to trigger panic in the foreign…
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NNPC Ltd Woos South Korean Investors for Gas Projects …Felicitates Temile Devt. Company on Acquisition of LPG Carrier
Abuja, Feb. 1 – The Nigerian National Petroleum Company Limited (NNPC Ltd) has held talks with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria. The Group Chief Executive Officer of NNPC Ltd, Mr Mele Kyari, led the company’s team to…
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Why Geometric Power Will Make A Difference in Electricity Supply – Caven
Aba, Jan. 30 – Ahead of the commissioning in February 2024 of the 188megawatt Geometric Power plant in the Osisioma Industrial Area of Aba in Abia State, one of the most influential figures in Nigeria’s power sector has been speaking on how the integrated power project will make a fundamental…
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Transparency: EITI Rates NNPC Ltd High in Compliance
Abuja, Jan. 38 – PRESS RELEASE Transparency: EITI Rates NNPC Ltd High in Compliance…As Kyari Insists No Public Fund Withheld Global transparency body, Extractive Industries Transparency Initiative (EITI), has scored the Nigerian National Petroleum Company Limited (NNPC Ltd.) very high in its latest global assessment. This was disclosed by EITI’s…
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Nigeria-Morocco Gas Pipeline: FG, Morocco in Talks to Expedite Project
PRESS RELEASE Abuja, Jan. 25 – Nigeria-Morocco Gas Pipeline: FG, Morocco in Talks to Expedite Project In a bid to fast-track the process of achieving the Final Investment Decision (FID) on the Nigeria-Morocco Gas Pipeline, the Federal Government has intensified discussions with the Kingdom of Morocco. The discussion which held…
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Dangote Petroleum Refinery Starts Production
LAGOS, Nigeria, Jan. 13, 2024 – Dangote Petroleum Refinery has commenced production of diesel and aviation fuel. President of Dangote Group, Alhaji Aliko Dangote, elatedly thanked President Bola Ahmed Tinubu for his support, encouragement, and thoughtful advice towards the actualisation of this project. Dangote also thanked the Nigerian National Petroleum Company…
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Zenith Bank Statement Regarding False Reports of Arrest of Group Chief Executive Officer
Lagos, Jan. 10, 2024 – PUBLIC STATEMENT FROM ZENITH BANK PLC REGARDING FALSE REPORTS OF THE GROUP MANAGING DIRECTORS’ ARREST BY THE ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC). We have become aware of inaccurate reports circulating on social media and certain news outlets alleging that Dr. Ebenezer Onyeagwu, the Group…
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Turk Eximbank Joins Africa Finance Corporation (AFC) as Inaugural non-African Shareholder
LAGOS, Nigeria, December 29, 2023 — Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today announced an equity investment from Turk Eximbank on behalf of the Republic of Türkiye, marking a historic milestone in onboarding the Corporation’s first non-African sovereign shareholder. The equity subscription from Türkiye’s official…
