Category: Business

ntel has officially commenced its Long Term Evolution (LTE) mobile network operations in Port Harcourt, Rivers State. In a letter to Port Harcourt subscribers, the Chief Executive Officer of nTel, Kamar Abass, wrote “I am delighted to announce that beginning December 1, 2016 you can pick up and activate your nTel SIM here in Port Harcourt. We will give priority to those of you who pre-registered your preferred numbers during our number registration campaign. “In the weeks ahead, our branded stores located at 278 Aba road and 36 old Aba…

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The sum of N750 billion has been approved by the Federal Government as Agricultural Intervention Fund to ensure food sufficiency in tune with its diversification agenda. Acting President, Yemi Osinbajo, disclosed this yesterday at the inauguration of the Senior Executive Course (SEC) 39 with the theme, “Science, Technology and Innovation for the Development of Agriculture and Agro-Allied Industries in Nigeria”, at the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Plateau State. Represented by the State Deputy Governor, Professor Sonni Tyoden, he restated the current administration’s commitment to revamping…

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Traders lock down the Lagos-Abeokuta Expressway f or several hours yesterday, paralyzing human and vehicular traffic as rioting youths and rice sellers in Sango-Ota market protested against alleged invasion of the market by customs officials. The protest, which led to the blockade of the main road before the bridge at Sango-Ota in Ado-Odo/Ota Local Council of Ogun State, was blamed on the customs officials who invaded the market in the early hours of Wednesday, broke into stalls and forcefully carted away bags of rice into their vehicles. Angry traders and…

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Sea Petroleum and Gas Company Limited owned by Senator Stella Oduah, has been restrained by a Federal High Court, Lagos from making any withdrawal whatsoever from the account of the company. The restriction order also involves three other limited liability companies, namely Sea Shipping Agency Limited, Rotary Engineering Services Limited and Tour Afrique Company Limited. The accounts of those firms are domiciled in 21 commercial banks listed before the court. The order followed an alleged indebtedness of $16,412,819.06 and N100,493,225.59 to Sterling Bank. The court also granted an order directing…

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United Bank for Africa (UBA) Plc, has added another award to its growing list of laurels as it has emerged Most Innovative Bank of the Year at the Independent Newspapers Awards. The award which is a recognition of innovative products and services introduced by the bank in the past years towards meeting customer needs, comes on the heels of recent awards hauled by UBA, including Finnacle Client Innovation Awards, and Best Bank Awards won by its five subsidiaries  across Africa by The Bankers Magazine. The event played host to dignitaries and…

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Over an outstanding Pay As You Earn (PAYE) tax liability for 2014, the Kaduna State Internal Revenue Service on Friday obtained a court warrant to seal the premises of Union Bank Plc in Kaduna over non remittance of N19.3 million. The revenue service had on February 8 dragged the bank before Justice Gideon Kurada of a Kaduna High Court for the non remittance of tax liability to the tune of N19.3 million. The counsel to the revenue service, Francis Kozah, told the court that the service conducted PAYE tax audit…

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Heritage Bank Plc has continued to take the lead in empowering youths to become entrepreneurs, which is amongst others is geared to creating jobs and distributing wealth across the Nigerian economy. Recently, Heritage bank made a “measured” entry into financing and empowering youths with the N3billion Youth Innovative Entrepreneurship Development Programme fund by the Central Bank of Nigeria, with the active participation of the National Youth Service Corps and the bank as the sole financial institution and operating vehicle for the disbursement of funds to approved beneficiaries. The bank in…

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One lucky customer of Skye Bank Plc., Olusola Olusegun Ezekiel emerged the first winner and a Millionnaire of the draw of the Bank’s flagship ‘Reach for the Skye Millionaire reward promo’ season II which held today, even as the Ayangburen of Ikorodu, Oba Kabiru Shotobi endorsed the initiative as life changing. Forty other customers of the Bank also walked away with consolation cash reward of N100, 000 for 10; and N50, 000 to another 10 customers, while 20 loyal customers won N20, 000 with new customers who opened account at…

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Contrary to the claims of former CBN deputy governor, Dr. Obadiah Mailafia, the Central Bank of Nigeria, said yesterday that only less than one percent of the Naira in circulation was fake. Dismissing Mailafia’s claims that up to 20 percent of the Naira in circulation was fake, CBN’s acting Director, Corporate Communications, Mr. Isaac Okoroafor, said in a statement issued last night:  ‘’The attention of the CBN has been drawn to certain spurious and grossly uninformed claims suggesting that about 20 per cent of the Naira currency notes in circulation are…

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Thirty-two lucky customers of Skye Bank Plc., across different business locations of the Bank, have emerged winners in the on-going Western Union campaign. The winners who emerged through a raffle draw, won various prizes which include N60,000 worth of shopping vouchers for 10 Star customers who received and sent transfers through Western Union in Skye Bank; and N20,000 worth of shopping vouchers as consolation for another 22 customers (11 receivers and 11 senders). The prizes will be officially presented to the winners in their domiciled branches. According to the Group…

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