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NIGERIA NEWSPAPERS: TODAY’S BUSINESSDAY NEWSPAPER HEADLINES [9TH AUGUST, 2018].

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Assault on opposition continues as EFCC freezes Akwa Ibom, Benue State bank account
Thu, 09 Aug 2018
The same day that former Senate Minority leader, Godswill Akpabio of the People’s Democratic Party (PDP), formally defected to the All Progressives Congress (APC), the Akwa Ibom State government confirmed that the Economic and Financial Crimes Commission (EFCC) has frozen its bank accounts. The EFCC declined to confirm the news reports but the State Information…
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Sell off leaves NSE 30 Index P/E at lowest since 2009
Thu, 09 Aug 2018
The recent equity market selloff has left the benchmark NSE 30 index trading at the lowest price to earnings (P/E) multiple in a decade. Investors use earnings multiples to judge whether a stock looks overvalued or undervalued. The P/E ratio for the NSE 30 which captures 96 percent of equity market capitalisation was at an…
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Updated: Pursley Resources pays N640m for 900,000 units of Seplat shares
Thu, 09 Aug 2018
Pursley Resources Limited (Pursley), a Company owned by the wife of A.B.C Orjiako, Chairman of Seplat Petroleum Development Company Plc has paid about N639.9million for the purchase of 900,000 units of Seplat. Seplat notified the Nigerian Stock Exchange (NSE) about this bulk sale in letters signed by its company secretary, Mirian Kene Kachikwu. The notification…
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Dangote emphasise support for State’s industrialisation
Thu, 09 Aug 2018
Africa’s industrial giant Dangote Group said its sponsorship of the ongoing Niger State Trade Fair was part of its commitments to support states toward the industrialization of Nigeria. In partnership with states’ Chambers of Commerce, the Group has, over the years, sponsored most of the Trade Fairs across the country, a statement from the Group’s…
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Nigeria FX reserves fall to 4 month low as capital outflows continue
Thu, 09 Aug 2018
Nigeria’s external reserves have fallen to a 4 months low of $46.9 billion against a previous balance of US$47.01 billion, according to data from the Central bank of Nigeria (CBN) website. The dollar reserves fell by 0.31 percent week on week. ‘What is typically driving the foreign reserve down is foreign portfolio investors leaving the…
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Rak Unity profit drops over rising cost of sales
Thu, 09 Aug 2018
The first half (H1) financial statement of Rak Unity Petroleum Plc released on Monday to the Nigerian Stock Exchange (NSE) revealed that the company’s profit margins are experiencing a tight squeeze as a result of its persistently high cost of sales and dwindling revenue. Gross profit margin for the company fell from 5 percent in…
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FBNQuest offers opportunities for Diaspora Nigerians to spur economic development
Thu, 09 Aug 2018
FBNQuest Asset Management, a subsidiary of the FBN Holdings Plc group, has shown interest to offer investment opportunities to Nigerians in Diaspora, as a way to unlock the potentials of the country’s citizens living abroad, which will be a source of economic development. This call for Nigerians in diaspora to take advantage of the numerous…
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CBN urge youths to channel resources to agriculture, manufacturing
Thu, 09 Aug 2018
The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele has advocated for the channeling of youths resourcefulness and vigour to selected value chains such as agriculture and manufacturing sectors. Emefiele who made the remarks in his keynote address at the 4th LAPO Institute Conference on Microfinance and Enterprise Development, with the theme, Indigenous Technology…
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Conoil result out after one day suspension at NSE
Thu, 09 Aug 2018
Conoil Plc, operator in the downstream sector on Tuesday released its first quarter result for 2018; a day after it shares was suspended for trading at the Nigerian’s Stock Exchange (NSE). The result however shows a 21.8 percent increase in its earnings as for the first quarter 2018 as against Q1 2017. Analysis reveals that…
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Seme Customs command generates N575.6m in July
Thu, 09 Aug 2018
The Controller of Seme Command of the Nigeria Customs Service (NCS), Comptroller Mohammed Aliyu, on Wednesday in Lagos, said the command generated N575.6 million in July 2018. He said the revenue represented about 85 per cent of the monthly target set for the command. He also said the anti-smuggling operations unit of the command made…
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Pension funds to help speed infrastructural development
Thu, 09 Aug 2018
The much needed boost to reduce the country’s alarming infrastructural shortage could be the new multi- fund structure recently launched by the National Pension Commission. As the commission sets to place efficient enabling environment for the pension managers to utilise their pension funds, infrastructural development will get a boost, analysts have said. According to International…
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Edo Joint Account committee declares N3.2bn for July
Thu, 09 Aug 2018
Edo State Joint Account Allocation Committee (JAAC) has declared a total of N3.2 billion as the total allocation that accrued to the state in the month of July. The state recorded an increase of N300 million compared to the previous month, when it hauled in a total of N2.9 billion. Chairman, Oredo Local Government Area,…
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Nigerian pilots, engineers call for local content capacity development in aviation
Thu, 09 Aug 2018
Nigerian pilots and engineer under the aegis of National Association of Aircraft Pilots and Engineers (NAAPE) have called on the federal government and airline operators to implement the executive order five, which encourages indigenous professionals to use their expertise to develop Nigeria. Speaking at the dinner, awards and the unveiling of the NAAPE compendium of…
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FCMB emphasises importance of tourisms in cultural and economic development
Thu, 09 Aug 2018
First City Monument Bank (FCMB) Limited has urged Nigerians to sustain the country’s cultural heritage in order to boost tourism and its associated benefits. According to the Bank, this will go a long way to educate and inspire generations about the history of Nigeria, the people and values, while also fast-tracking the ongoing efforts of…
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Pursley Resources pays N640m for 900,000 units of Seplat shares
Thu, 09 Aug 2018
Pursley Resources Limited (Pursley), a Company owned by the wife of A.B.C Orjiako, Chairman of Seplat Petroleum Development Company Plc has paid about N639.9 million for the purchase of 900,000 units of Sepalt. Sepalt notified the Nigerian Stock Exchange (NSE) about this bulk sale in letters signed by its company secretary, Mirian Kene Kachikwu. The…
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Fidelity amongst NSE 30 movers gaining 2.72 per cent
Thu, 09 Aug 2018
Amongst market movers today on NSE 30 index, Fidelity Bank as at 1:30pm is up by 2.7 percent, gaining N0.05 higher than yesterday close of N1.84. The stock currently trades at N1.89 amidst prospect considered by investors as one of the top stocks to watch. Fidelity share price trades currently at N1.89 close…
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NSE lifts suspension on trading in shares of Conoil
Thu, 09 Aug 2018
The Nigerian Stock Exchange (NSE) has lifted the suspension it placed in the trading of Conoil Plc shares with effective from Wednesday August 8, 2018, according to a notice signed by Godstime Iwenekhai, Head, Listings Regulation Department. Conoil Plc has submitted its unaudited financial statements for the periods ended March 31 and June 30, 2018…
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