THE Federal Government can realise N3trillion from maritime yearly if the sector is structured, a top Federal Ministry of Finance official has said. The official, who asked not to be named, urged President Muhammadu Buhari to invest part of the money generated from the sector in the economy because of the dwindling oil revenue. The president

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THE Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) have revoked the licences of 21 firms for various infractions, including inability to meet minimum capital requirement, fraud and inactivity. With the deregistration of the firms and revocation of their licences, the firms have been expelled from the market. Besides,

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The Capital Adequacy Ratios (CARs) of three big banks have fallen below regulatory capital requirement, the result of stress test conducted by the Central Bank of Nigeria (CBN) on the status of the banking system has shown. Overall, the result of the solvency stress test indicated the potential for high contagion risk through unsecured interbank

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PETROLEUM Tanker Drivers, PTD, branch of the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, yesterday, directed members to begin nationwide indefinite strike and shut all loading depots and fuel terminals until further notice. Tankers The workers are protesting non-renewal of their Collective Bargaining Agreement, CBA, that

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A report from a Russian online cyber security firm, Kaspersky, has observed that North Korean hackers are allegedly attacking banks in 18 countries, including Nigeria. The organisation noted in its report that this could be regarded as the biggest bank heists in world history. Banks and security researchers have previously identified four similar

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The naira, which in the last few days, recorded marginal losses, is likely to strengthen today as the Central Bank of Nigeria (CBN) will boost liquidity in the market with $240 million. The naira yesterday traded at N395 to dollar, from N385 to dollar at the weekend. A statement from the apex bank, said $90 million will be deployed to meet genuine

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Bank chiefs caught frustrating efforts by the Central Bank of Nigeria (CBN) at getting more dollars to end-users risk severe punishment, the apex bank warned yesterday. The warning came on the backdrop of reports that lenders are setting difficult hurdles for foreign exchange (forex) end-users wanting to make purchases for Business Travel

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