Category: BUSINESS

For failing to comply with the guidelines for the deployment of 5.4GHz frequency band, some companies in Uyo, Akwa Ibom and Calabar, Cross River states have had their premises shut down by the Nigerian Communications Commission (NCC). The enforcement team of the Commission took Compliance Monitoring to Calabar, Cross River and Uyo, Akwa Ibom States on April 26 and 27, 2018 respectively to enforce compliance with its guidelines for the deployment of service in the 5.4GHz frequency band. The Commission, based on the Guidelines for the Deployment of Service in…

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The Central Bank of Nigeria (CBN) has stepped into the inter-bank sector of the Foreign Exchange market, yet again, intervening in the wholesale segment and other sectors of the market to the tune of $210 million. Figures released by the Bank on Tuesday, April 24, 2018, reveal that the Wholesale sector of the market got another injection of $100 million, just as the Small and Medium Enterprises (SMEs) and invisibles sectors each received $55 million. Confirming the figures, the Acting Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor,…

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AJW Group, a market leader in the global management of aircraft spares, is celebrating the success of its partnership with Aero Contractors that has seen the Nigerian airline become the first carrier to conduct an aircraft C-Check in West & Central Africa. The C-Check, which was carried out on a Boeing 737-500 aircraft, was marked by an event at the airline’s company headquarters on Friday afternoon, attended by the Nigerian Minister for Aviation and other key stakeholders. AJW has been supporting Aero Contractors as its technical partner since July 2017,…

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…woos Nigerian youth to embrace CBN initiatives The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has challenged the graduating students of University of Nigeria, Nsukka (UNN) to explore and take advantage of the present challenges confronting the country to become job creators in the economy. Mr. Emefiele gave the charge on Thursday, November 30, 2017, while delivering the 47th Convocation Lecture of the University of Nigeria, Nsukka, Enugu State, entitled: “A mindset for Succeeding in Today’s Nigeria”. He noted that rising unemployment remained one of the greatest challenges…

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The Central Bank of Nigeria (CBN) on Tuesday, November 28, 2017, announced the injection of another $210,000,000 to boost liquidity in the inter-bank Foreign Exchange Market. Disclosing this in Abuja, the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor said the sum of $100million was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment got an allocation of $55 million. The invisibles segment (i.e. tuition fees, medical payments and Basic Travel Allowance (BTA), among others) was also allocated $55 million. Mr. Okorafor said the releases…

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Data made available by the National Bureau of Statistics show that food inflation recorded the lowest month on month movement since September 2016. According to the Core Price Index for October 2017 released by the bureau on Wednesday, the country’s inflation rate stands at 15.91% from the 15.98% recorded in September 2017. “The consumer price index (CPI) which measures inflation increased by 15.91 percent (year-on-year) in October 2017. “This was 0.07 percent points lower than the rate recorded in September (15.98) percent making it the ninth consecutive disinflation (slowdown in…

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