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The Federal Airports Authority of Nigeria (FAAN) has notified airlines, passengers and all other stakeholders that the runway at Akanu Ibiam International Airport, Enugu will be closed for major repairs.

Rep Nnaji: Enugu Airport closure will affect economy of South East

The Chairman of House Committee on Aviation Hon. Nnolim Nnaji has expressed concern over the planned closure of Enugu Airport noting that it would have adverse effect on the socio economy of the South East.
Power

Federal government injects N600 billion into electricity market

The Market Operator of the Transmission Company of Nigeria (TCN), Engr. Edmund Ejie, on Wednesday disclosed that the Federal Government has approved N600billion for injection into the nation’s electricity market.

Dangote Cement overtakes MTN as NSE’s biggest firm

Dangote Cement Plc has regained its position as the biggest listed firm on the Nigerian Stock Exchange as sell-offs were witnessed in MTN Nigeria Communication Plc’s shares on Tuesday.
NIMASA

NIMASA hints of imminent plunge in freight rates

Following the commissioning of the maritime security surveillance portal by the Nigerian Maritime Administration and Safety Agency, NIMASA, Mr Gambo Ahmed, Executive Director in charge of Maritime Labour and Cabotage Services at the agency, has said that freight rate for Nigeria bound cargoes are expected to take a plunge anytime soon.
President Muhammadu Buhari has felicitated with all the 2019 Nigerian pilgrims over the successful completion of their Hajj rites and the Eid-el-Kabeer celebration.

Presidency moves to strengthen fiscal discipline in Aso Rock

The Anti-Corruption and Transparency Monitoring Unit, ACTU, in the Presidency, yesterday declared the unit’s willingness to partner with MBA Forex and Capital Investment Limited to improve a culture of accountability and transparency in the country.
EDITORS NOTE: Graphic content / A picture taken on April 8, 2019 shows shipping containers sitting at the Apapa Port Complex in Lagos, Nigeria's economy hub. - The Nigerian port is congested with hundreds of ships, idly queueing for days to offload containers with goods. Lagos port congestion is affecting port operations and creating a severe backlog at ports, causing carriers’ containers to be held in port for extra days, as well as creating several miles of truck traffic at roads that links to port gates. (Photo by PIUS UTOMI EKPEI / AFP)

Apapa, Tin Can ports operate at less than 70 percent capacity – operators

Contrary to claims by the Speaker of the House of Representatives, Mr. Femi Gbajabiamila, that the ports in Lagos are filled up to their brims, the Seaport Terminal Operators Association of Nigeria, STOAN, has said that the Lagos Port Complex, Apapa, and the Tin Can Island Port Complex, both in Lagos, are not congested but were operating at less than 70 per cent capacity.
France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France’s central bank governor said on Friday.

EU antitrust regulators have Facebook’s Libra currency in sights

Regulators are reportedly concerned that the Libra currency could shut out rivals and create “competition restrictions” related to the use of information and consumer data. The EU is also examining the integration of Libra wallets into Facebook’s WhatsApp and Messenger services, according to Bloomberg.
NIMASA

NIMASA: Why NSDP sea-time training is delayed

The Nigerian Maritime Administration and Safety Agency, NIMASA, has said that the delay in sending cadets of its National Seafarers Development Programme, NSDP, to sea time training was not related to the signing of the Memorandum of Understanding, MoU, with the foreign training institutions or payment to them.

Total names new director

The management of Total Nigeria Plc has announced the appointment of a new director.

Fidelity Bank rewards seven customers with N2.8 million in Makurdi

Fidelity Bank Plc has given out N2.8 million to seven of its customers in Makurdi as reward for saving under its Fidelity Savings Loyalty Scheme.
Kayode Fayemi

Ekiti government goes tough to recover N1.5 billion micro-credit loans

Ekiti State Government has adopted a strategic that would facilitate prompt and stress -free repayment of loans running to N1.5 billion granted the people under the Small and Medium Enterprise Support Scheme since the administration of Chief Segun Oni to date.

NCDMB: Why local content act is partially implemented

The Executive Secretary, Nigerian Content Development Monitoring Board (NCDMB), Engr. Simbi Wabote, on Tuesday said the Local Content Act cannot be fully comlied with because of the economic realities in the country.
Nigerian Stock Exchange NSE

NSE indices record 0.21 percent loss

The Nigerian Stock Exchange (NSE) market indices shed 0.21 per cent due to loses in some blue chips.
The Nigerian National Petroleum Corporation (NNPC) says it is working to crash the price of cooking gas in the country.

NBS: Average price for cooking gas soars in July

The National Bureau of Statistics (NBS), says the average price for the refilling of a five kilogramme (kg) cylinder Cooking Gas increased to N2,024.80 in July from N1,995.38 in June.

Central bank to defend reserves against UK $9 billion court ruling

The Central Bank of Nigeria (CBN) on Monday it will strive to protect the country’s currency reserves after a British court ruling granted a small natural gas firm the right to seize $9 billion in assets from the Federal Government.

Expatriates in oil, gas sector reduced by 80 percent – NCDMB chief

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote, says that the number of expatriates working in the Nigerian oil and gas sector has been reduced by 80 per cent.

Fidelity Bank signs MoU with OTF, adopts open banking

Consistent with its commitment to the adoption of innovative digital technology to drive its retail strategy, reduce cost and improve revenue and returns, Fidelity Bank has signed a Memorandum of Understanding with Open Technology Foundation (OTF) for the adoption of a standard Application Programming Interface (API) for its operations as a financial institution.

Central bank orders microfinance banks to disburse higher, lower banknotes together

The Central Bank of Nigeria (CBN) has mandated the microfinance banks (MFBs) to mix the lower and higher Naira notes while disbursing it to customers.

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Kayode Fayemi

Ekiti government reiterates commitment to adult literacy

Mr Foluso Daramola, the Ekiti Commissioner for Education, Science and Technology, on Thursday gave an assurance that government would promote adult literacy.
The Ibadan Electricity Distribution Company, IBEDC, has appealed to its customers to go through the proper channel and avoid fraudulent activities in meter collection.

Consumers vow to resist electricity hike

Consumers of Electricity product and other Stakeholders, yesterday vowed to resist implementation of the new power tariff increase announced by the Nigerian Electricity Regulatory Commission, NERC, expected to become effective from July 2020.
President Muhammadu Buhari has felicitated with all the 2019 Nigerian pilgrims over the successful completion of their Hajj rites and the Eid-el-Kabeer celebration.

President Buhari: We’ve invested about N1.3 trillion on education since 2015

President Muhammadu Buhari says his administration has invested close to N1.3 trillion in the education section since he came into office in 2015.
Tottenham Hotspur midfielder Victor Wanyama is on the verge of signing for Club Brugge.

Reports: Victor Wanyama undergoes medical ahead of Club Brugge move

Tottenham Hotspur midfielder Victor Wanyama is on the verge of signing for Club Brugge.
Nasir Ajanah

Kogi chief judge releases 16 awaiting trial inmates

The Chief Judge of Kogi State, Nasir Ajanah, has unconditionally released 16 inmates awaiting trial in Koton-Karfe and Okene correctional facilities of the Nigerian Correctional Service (NCP) in the state.