Two Chinese are to be prosecuted for their involvement in the importation of fake and substandard tyres worth N5 billion into the country MessrsTaolung Shen and Xu Jing Yao were arrested and their company Sino Nigeria Import and Export Limited’s warehouse in Lagos sealed by the Standards Organisation of Nigeria (SON). Director-General of SON

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The Federal Government has concluded arrangements to launch its first-ever savings bonds into the domestic bond market next month, providing the retail investing public opportunity to invest in sovereign bond issue for as low as N5,000. Market sources and parties to the savings bonds, to be known as Federal Government of Nigeria Savings

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Ogun State Governor Ibikunle Amosun has promised to wade into the rift between the Nigeria Customs Service (NCS) and rice traders in Sango/Otta. He made the promise yesterday when traders, who carried placards, marched on his office in Abeokuta, the state capital.. They begged Amosun to tell the Service to return their bags of rice and kegs

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The Federal Government wants to borrow at least $1 billion from the World Bank and to sign within months for a $1.3 billion loan from China to fund railway projects, Finance Minister Kemi Adeosun said yesterday. The economy needs to plug a gap in its record N7.3 trillion ($23.17 billion) 2017 budget, which boosts capital expenditures by a quarter

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With N72 billion, 16 banks funded $220 million Central Bank of Nigeria (CBN) allocations under the Forex Forwards policy meant to stabilise the naira, it was learnt yesterday. Banks are calling for bids from retail end-users in preparation for the business travel allowances, school fees and medical bills auction. The CBN is expected to from tomorrow

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Acting President Yemi Osinbajo yesterday gave a directive for speedy conclusion of projects critical to easing ways of doing business in the country. He spoke after paying a surprise visit to Nigeria’s major international airport in Lagos. Already, the Presidential Enabling Business Environment Council, (PEBEC) has adopted a 60-day Action Plan to

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Accounts of government agencies are now to be audited weekly to improve compliance with the provision of reports, Auditor-General of the Federation Anthony Ayine said yesterday. Ayine spoke during his visit to the Minister of the Federal Capital Territory (FCT), Alhaji Muhammad Bello, in Abuja. He said one of the purposes of sending auditors

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