Shell signs innovative $10b revolving credit facility

ROYAL Dutch Shell Plc has signed a $10 billion revolving credit facility. The new facility replaces Shell’s existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks. The oil giant said in anticipation of the cessation of the London Interbank Offered Rate (LIBOR), this is one of the world’s first[...]

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Insurance Company pays over N1.4 billion in Claim in 8months, Here’s Why

Niger Insurance Plc said that it paid N1.4 billion claims in nine months from April to December 2019. Managing Director of the company, Mr. Edwin Igbiti, disclosed this at a press conference in Lagos, adding that other outstanding claims will be paid soonest. He said: ”The situation regarding unpaid claims and outstanding customer benefits can[...]

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Chairman FIRS extols Digital Currency as the new Gold

Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has described the digital space as the new gold in revenue generation in the country. Fowler said this in his opening remarks at the third annual Nigeria Tax Research Network conference which held at the FIRS Training School in Durumi, Abuja. The conference is themed:[...]

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Musician Akon warns against celebrity-backed cryptocurrencies

Senegalese-American singing star Akon has warned against celebrity-endorsed cryptocurrency – as he prepares to launch his own branded Akoin to the world. Boxing legend Floyd Mayweather is just one celebrity to have been caught up in a cryptocurrency controversy in recent years for his work with Centra, which claimed to have partnerships with Visa and[...]

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Breaking: OneCoin Cryptocurrency website taken down for investigation by FBI as Dr. Ruja and all promoters disappears with over $10b worth of investments in biggest global fraud

OneCoin cryptocurrency website has been taken down. OneCoin.eu web page no longer exist. The FBI has ordered the operation to investigate the global fraud involving over $10b that has shaken regulators across the world. Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded them to[...]

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NaijaBrandChick presents the biggest trade fair experience in Abuja on Saturday 7th December, 2019( discounts like never before on every product)

Nelly Agbogu founder and foremost entrepreneurship guru behind the Naija Brand chick brand is hosting a trade fair and master class this weekend 7th December, 2019 at the Edmunds Centre( former Dabras hotel) Wuse2 Abuja. She has achieved repeated success with this venture in Lagos. And vendors have always given testimony of eye popping sales[...]

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UK’s best schools revealed: Take a look at the rankings

The private and state secondary schools in England are rated on the 2019 examination results in the Sunday Times.  And of the best 150 state schools, 38 are in the south-east and only 38 in north-east.  There are 121 grammar schools, nine partially selective and only 20 comprehensive schools  Top ten state secondary schools  1) Queen[...]

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NEC approves additional $250m investment fund for NSIA

The National Economic Council (NEC) has approved that an additional $250 million be made available to the Nigeria Sovereign Investment Authority (NSIA). The council made the decision at its meeting on Thursday which was presided over by Vice President Yemi Osinbajo (pictured). Addressing journalists at the end of the meeting, Uchechi Orji, the NSIA managing[...]

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IMF: Almost 50percent of African countries are in debt crises

Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), says 40% of African countries are in debt distress. Commenting on the debt levels of countries, the newly appointed IMF MD said: “Are we worried about debt levels in Africa, yes because 40% of the countries have gone into debt distress levels. “In some[...]

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Amazon stock plummet as expectations are not met!

Amazon’s third-quarter earnings fell short of street expectations on Thursday, driving its stock down as much as 9% in after hours trading. It also gave dismal revenue guidance for the holiday shopping season, spooking investors who were expecting a huge pay off from Amazon’s growing investments across the company. Here’s what the company reported versus[...]

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80% of social investment funds from recovered Abacha loot- Maryam Uwais

Maryam Uwais, special adviser to President Muhammadu Buhari on social investment, says 80 percent of funds for social investments come from the recovered Abacha loot.  She said the remaining 20 percent is credit from the World Bank. The special adviser said beneficiaries of the social investment programme have been “very responsive and productive”. She said[...]

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‘FG is considering introducing excise duty on all carbonated drinks’ – Minister of Finance, Zainab Ahmed

Minister of Finance, Zainab Ahmed has said the federal government is considering introducing excise duty on carbonated drinks.     The minister made this known while addressing the media on the sidelines of the ongoing annual meetings of the International Monetary Fund and World Bank Group. Excise duty is a levy placed on the manufacture of locally[...]

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Buhari orders forensic audit of NDDC from 2001 to 2019

President Buhari yesterday Thursday October 17, ordered a forensic audit of the operations of the Niger Delta Development Commission (NDDC) from 2001 to 2019.   The President who announced this while receiving Governors from the Niger-Delta region at the state house in Abuja, said the current state of the region does not reflect the amount of[...]

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UN in Financial Crisis says General Secretary

Antonio Guterres, the United Nations Secretary-General says the organisation is facing a severe paucity of funds, the worst in nearly 10 years. Guterres told Member States on Tuesday that the organisation “runs the risk of depleting its liquidity reserves by the end of the month and defaulting on payments to staff and vendors.” He said[...]

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Global recession seems to be on the Horizon- Experts

The risk of a global recession is at its highest since August 2009, according to a survey of fund managers, as slowing growth, trade and political uncertainty takes its toll on investor sentiment. Some 38% of investors polled in the Bank of America Merrill Lynch Fund Manager Survey for September, released Tuesday, expect a recession[...]

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Breaking : Federal Government increases VAT to 7.2%

The federal executive council (FEC) meeting held earlier today. At the end of the meeting, FEC approved an increase in value added tax (VAT) rate from 5 percent to 7.2% percent effective January 2020. Zainab Ahmed, minister of finance, budget and national planning, disclosed this to state house correspondents at the end of the cabinet[...]

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