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NDIC Mulls Upward Review Of Deposit Insurance Coverage

The Nigeria Deposit Insurance Corporation (NDIC) on Wednesday hinted of its plans to increase maximum deposit insurance coverage payment to depositors of liquidated Deposit Money Banks (DMBs), Primary Mortgage Institutions (PMIs), and Microfinance Banks (MFBs) in furtherance of its financial system stability roles. Similarly, the corporation disclosed that it had  introduced the Single Customer View […]

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FG To Invest $1.1Bn In Six Ports’ Rehabilitation

The Nigerian Ports Authority (NPA) has outlined plans to invest about $1.1 billion (about N800 billion) in the various ports across the country in furtherance of its current efforts to reduce the high turnaround times of vessels and improve ports efficiency. The Managing Director of the Authority, Mohammed Bello-Koko,  in an X post on Monday, […]

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NCAA Suspends United Nigeria Airlines’ Wet-Leased Aircraft

The Nigerian Civil Aviation Authority (NCAA), on Monday announced the suspension of all wet-leased aircraft operated by United Nigeria Airlines (UNA) following Sunday’s diversion of airlines’ passengers to Asaba International Airport instead of at their intended destination, Nnamdi Azikiwe International Airport (NAIA), Abuja. In the aviation sector, in a wet lease, an airline (the lessor) […]

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Air Safety: Minister Summons Aviation Agencies’ Heads To Emergency Meeting

Apparently worried by the rising air travels incidents across the nation’s airports in recent weeks, the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has summoned heads of aviation regulatory agencies to an emergency meeting to parley on the worrisome development in the industry. The minister’s invitation to the industry’s chiefs for the meeting […]

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Africa Re Reports Net Profit of $75.4Mn In 9 Months

The African Reinsurance Corporation has announced its financial results for the first nine months of this year, which reflected a strong growth in Net Nrofit to $75.4 million and  a “remarkable improvement” compared to the loss recorded at the end of the same period of 2022. A news report from Reinsurance News, an online medium […]

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FG Initiates Moves To Halt Rising Cooking Gas Price

As the Yuletide celebration season is fast approaching and with consumers lamenting the surging prices of commodities, the Federal Government has set up a committee with a mandate to make recommendations on how to boost domestic supplies of Liquefied Petroleum Gas (LPG), also known as cooking gas. The Committee was set up by the Minister […]

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Maida Urges Nokia To Invest In R&D Of Nigeria’s ICT Industry

The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has urged Nokia Networks, one of the global leading ICT firms, to increase its investments in Research and Development (R&D) of the nation’s Information and Communication Technology (ICT) to support the industry’s sustainable growth. Maida, made the […]

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SERAP Urges World Bank To Suspend Loans To Nigeria’s 36 States

The Socio-Economic Rights and Accountability Project (SERAP), a leading civil advocacy group in Nigeria,  has urged the World Bank to suspend further loans to Nigeria’s 36 states until previous ones are accounted for. The group hinged its stance on what it termed recurring allegations of mismanagement of public funds by state governors, including loans which […]

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FG, International Donors To Raise $200Mn For MSMEs

The Federal Government in collaboration with International philanthropic organisations have partnered to raise $200 million to support the nation’s Micro, Small and Medium Enterprises (MSMEs) with the attendant positive potential for job creation in the country. The Senior Special Assistant to the President on MSMEs and Job Creation in the Office of the Vice President, […]

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REA Launches Mini-Grids’ Monitoring Centre To Boost Electricity

The Rural Electrification Agency (REA) has launched a control room centre located at its headquarters in Abuja to ensure effective monitoring of mini-grids power facilities that are note connected to the national electricity grid. The agency’s initiative aligns with the introduction of new Energy Management System (EMS) policy  to effectively monitor smaller electricity systems called […]