Banks enjoy improved liquidity as overnight rate drops three consecutive days

FELIX OLOYEDE The redemption of Treasury Bills by Federal Government has helped to improve liquidity in Nigerian banking sector as overnight rate declined three consecutive times this week. Overnight (O/N) rate dropped -0.75 per cent to 5.75 per cent on Thursday, while Open Buy Back (OBB) rate was down -0.92 per cent to 5.25 per cent, data obtained More...

by Felix OLOYEDE | Published 5 days ago
By Uchenna Ajah On Thursday, January 18th, 2018
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Lassa fever: Ebonyi Schools proceed on forced break

Schools in Ebonyi State have been directed to close for a week following the outbreak of Lassa fever in the state. The state government said the directive was given as part of measures to contain the spread of the More...

By Uchenna Ajah On Thursday, January 18th, 2018
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Dangote, Mammoet seal mega contract

Dangote Group has awarded Mammoet the contract to provide heavy lifting and transport solutions for construction of Africa’s biggest oil refinery in Nigeria. The multi-billion dollar Dangote Oil Refinery will More...

By Uchenna Ajah On Thursday, January 18th, 2018
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Falling US crude stocks, threats to Nigerian fuel infrastructure

Oil prices rose on Thursday on a reported decline in US crude inventories, and as rebels in Nigeria threatened to attack the country’s petroleum infrastructure. However, prices stayed below recent three-year highs More...

By Uchenna Ajah On Thursday, January 18th, 2018
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Niger Youths protest poor power supply

Youths in Niger state have staged a peaceful protest on Thursday against what they termed an epileptic power supply by the Abuja Electricity Distribution Company (AEDC), reports Channels Television. In October last More...

By Uchenna Ajah On Thursday, January 18th, 2018
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Bitcoin slides to below $10,000

Bitcoin, the dominant digital currency, extended a slump on Wednesday, following a recent surge to trade below $10,000 for the first time since the start of December. Around 1410 GMT, bitcoin stood at $9,807.56 More...

By Uchenna Ajah On Wednesday, January 17th, 2018
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Petroleum tanker drivers threaten to boycott bad roads

Petroleum Tanker Drivers (PTD) on Wednesday threatened to boycott bad roads should the Federal Government fail to  repairs  important  roads before the rains begin. The PTD National Chairman, Comrade Salimon More...

By Uchenna Ajah On Wednesday, January 17th, 2018
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Storm: KLM cancels 220 flights for Thursday

Dutch airline KLM has cancelled 220 flights planned for Thursday due to powerful storm that is expected to hit the Netherlands. The company said in a notice on its website on Wednesday that the decision had been More...

By Uchenna Ajah On Wednesday, January 17th, 2018
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Market capitalisation hits N16.080trn

The price rally on the Nigerian Stock Exchange (NSE) continued on Wednesday with the market capitalisation hitting all-time of N16.080 trillion. The News Agency of Nigeria (NAN) reports that the market capitalisation, More...