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Polaris Bank Launches “Target Savings Account”
The management of Polaris bank has launched a "Polaris Target Savings Account"aimed at promoting the saving culture of Nigerians. The Group Head, Products and Market Development,…
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Naira Rises To N440 Per Dollar At Black Market
Naira is now being sold at N440 per dollar at the black market on Tuesday, odunews.com reports. This represents a massive N37 gain compared to the N477/$1 exchange rate close of…
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AfDB President Akinwunmi Adesina Sworn-in For Second Term
Akinwunmi Adesina has been sworn-in as the re-elected president of the African Development Bank (AfDB). The swearing-in ceremony took place virtually on Tuesday. The event was…
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Investors Gain ₦322bn In Stock Market
Investors at the Nigerian stock market gained gained ₦322 billion in August despite the downturn in the country's economy in the second quarter of 2020. Consequently, the…
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CBN Cuts Interest Rates On Savings Deposit To 10%
The Central Bank of Nigeria has slashed the interest rates on savings deposits to 10% of the monetary policy rate. In an August 31 letter to deposit money banks signed by Bello…
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[VIDEO] Man Allegedly Hacks Over 2,000 Access Bank Accounts, Vows To Debit Customers
A video is trending on social media where a man claimed to have successfully hacked into the Access Bank system and retrieved over 2,000 customers' account details. The 2 minutes 27…
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Buhari Transfers NIMC To Communications Ministry
President Muhammadu Buhari has approved the transfer of the National Identity Management Commission (NIMC) to the ministry of communications and digital economy. This was…
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9Mobile Gets CBN’s License As First Payment Service Bank
The Central Bank of Nigeria has granted full approval to 9PSB, owned by mobile giant 9mobile, to commence operations as the country's first payment service bank. This is expected…
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NSE Market Capitalisation Rises To N13.2trn
The Nigerian Stock Exchange market capitalisation rose by 0.35% to close the week at 25,309.37 and N13.203 trillion, respectively. Investors gained N45.65 billion. According to…
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Nigeria Heading Towards Recession – Budget Office
Ben Akabueze, the director-general of the Budget office says Nigeria may be heading towards its first recession since 2016. Akabueze made the comment on Thursday during a media…
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Nigeria Records $1.2bn Capital Inflow In Q2 2020
Nigeria's capital inflow dropped by 78.2% in the second quarter of 2020 when compared to Q2 of 2019. The country received $1.29 billion capital importation during this period.…
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President Buhari Appoints Ernst And Young As NDDC Auditors
The Federal Government has approved Ernst and Young to conduct a forensic audit of the Niger Delta Development Commission (NDDC). In October 2019, President Buhari ordered a forensic…
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CBN Bans Payment Service Banks From Accepting Forex Deposits
The Central Bank of Nigeria announced that it has banned payment service banks from accepting forex deposits. This was contained in a statement by the apex bank in the reviewed…
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CBN Directs BDC Operators To Sell Dollar At N386
The Central Bank of Nigeria has directed Bureau De Change (BDC) operators to sell dollars at the rate of N386. Ozoemena Nnaji, Director Trade and Exchange Department, made this…
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Facebook Stock Rises Above $300 For First Time
Facebook Inc.'s share price rose above $300 for the first time ever on Wednesday sending the shares higher by %8.2. Stock analysts lauded the company’s new shopping section which…
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Naira To Exchange For N500/$ At Parallel Market
There are indications that the naira would rise to N500 per dollar at the parallel market. This is a result of the Central Bank of Nigeria's directive authorizing dealers to only…
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Jeff Bezos Becomes The First Person Ever To Hit $200bn Net Worth
Jeff Bezos' net worth has surpassed $200 billion, making him the first person to ever reach the figure. According to Forbes, as Amazon's stock moves above 2% on Wednesday Jeff…
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Union Bank, UBA Helped Put Out Fire At Our VI Branch – Access Bank
Access Bank says the fire outbreak that engulfed its Victoria Island branch was put out through the combined efforts of Union bank and the United Bank for Africa. Odunews.com had…
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First Bank Partners Unity Nigeria To Sponsor “The Voice Nigeria”
First Bank of Nigeria says it has partnered the organisers of the music talent show, "The Voice Nigeria", to become the lead sponsor of the reality show. The company disclosed…
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Discussion On “Real Estate Investments” Tops Focus Of 2020 Lagos Estate Fest
The organisers of the Lagos Estate Fest have slated September 29th and 30th as the date for this year's forum. The event has however been scheduled to held virtually as a result…
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