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InvestingNewsNigeriaVision 2025: FG Solicits Nigerians in Diaspora’s Support

PilotnewsOctober 20, 2020

The Federal Government has solicited the support and contributions of Nigerians in the Diaspora on the implementation of the country’s vision 2025. Mr Clement Agba, the Minister of State for Finance, Budget and National Planning said this on Monday in Abuja during the webinar meeting with Nigerians in the Diaspora. He said that the country had been implementing the Economic Recovery and Growth Plan (ERGP) 2017 to 2020 and Nigeria Vision 20:2020 (NV20:2020) as its...

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BusinessInvestingNewsNigeriaStripes Buys Nigeria’s Paystack for Over $200m, Set to Extend Across Africa

Bada Yusuf Amoo (Reporter)October 17, 2020

Stripe has announced its acquisition of Pastack, a start up in Lagos, Nigeria. The company provided similar service with Stripe. The company offers a quick way to integrate payments services into an online or offline transaction by way of an API (It has also been referred to in the past as “the stripe of Africa.” Currently, Pastack has about 600,000 customers, which included small businesses, large corporates, fintech, education institutions and online betting companies. The...

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InvestingNewsNigeriaZamfara Govt Begins Own Gold Reserve

PilotnewsOctober 6, 2020

Zamfara government says it has started its gold reserve to reduce dependence on federal allocations. The state Commissioner for Finance, Alhaji Rabiu Garba, told journalists in Gusau on Tuesday that, although, there was a federal government ban on mining activities in the country, “the state government was able to purchase the commodity from licensed miners. “At the moment, we have a pure gold reserve of over 30 kilos and as time goes by, we will...

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AgricultureInvestingNewsFarming: Young Entrepreneurs Invest N30m In 15 Rural Communities In Adamawa

Ibrahim Abdul' Aziz (Correspondent)September 23, 2020

By Ibrahim Abdul’Aziz, Regional Correspondent In a renewed commitment to modernize agriculture and make farming business lucrative a  group of young entrepreneurs has invested N30 million in 15 rural communities in Adamawa State. The young entrepreneurs under a firm, Tannep Prime Concept disclosed the development during a seminar organized in Yola with the theme: Securing the Future with Agriculture, Maximizing Profit and Mitigating Losses. The head of operations of the firm,  who is also a...

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BusinessInvestingNewsFinancial Expert Advises CBN on Interest Rates as MPC Holds

PilotnewsSeptember 21, 2020

As CBN holds its 275th quarterly Monetary Policy Committee (MPC) meeting on Monday, a Financial expert, Mr Okechukwu Unegbe called for a reduction of lending rates by banks to encourage investment. Unegbe, who is a Past President of Chattered Institute of Bankers of Nigeria (CIBN) made the call in an interview with News Agency of Nigeria (NAN) in Abuja. He suggested that the lending rate should be reviewed downwards from its present rate of about...

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InvestingNewsPovertyLagos Abolishes 2018 Land Use Law

Adeola Oladipupo (Correspondent)August 5, 2020

…Pardons payment defaulters from 2017 to 2019 The Lagos State Government, today, made several changes to the 2018 Land Use Law which generated lots of controversies in the last administration. The government cancelled 2018 Land Use Charge Law, reverted to pre-2018 land use charges but maintained the 2018 valuation, according to the Nation In a press conference, the Commissioner for Finance, Dr Rabiu Olowo said that defaulters of land use payment from 2017 to 2019...

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InvestingNewsFEC Approves Establishment of Nigerian Youth Investment Fund

Beloved John (Staff Writer)July 23, 2020

The Federal Executive Council has approved the establishment of the Nigerian Youth Investment Fund (NYIF) to the tune of N75 billion. The NYIF, which will operate as a youth bank, will create a financial support base for innovative youths aged 18 to 26. Minister of Youth and Sports Development, Mr Sunday Dare disclosed this to State House Correspondents on Wednesday after a Federal Executive Council (FEC) meeting, nothing that youths with ideas and innovation can...

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InvestingNewsNigeriaNigeria’s Unclaimed Dividends Hit N158.44bn in 2019

PilotnewsJuly 14, 2020

The total unclaimed dividend figure in the Nigerian capital market stood at N158.44 billion as of December 2019, the News Agency of Nigeria (NAN) reports. Data obtained exclusively by NAN from the Securities and Exchange Commission (SEC) show that the figure is still on the increase in spite of e-dividend registration introduced by SEC in 2015. NAN reports that dividend is the distribution of a portion of the company’s earnings, decided and managed by the...

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InvestingMoneyWorld NewsDollar Falls as Yuan Leads Charge in Risk-on Trades

PilotnewsJuly 9, 2020

The dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency. China’s yuan rose to a four-month high against the greenback, extending recent gains as investors of all stripes increase positions in Chinese stocks due to growing signs of a recovery in the world’s second-largest economy. Lingering worries about the spread of the coronavirus could keep...

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InvestingMoneyNewsUnaudited Results: NSE Warns Investors on Shares of 13 Firms

PilotnewsJuly 9, 2020

The Nigerian Stock Exchange (NSE) has urged investors to trade with caution on the shares of 13 companies for failing to submit financial statements without any explanation. The News Agency of Nigeria (NAN) reports that the affected companies include Aso Savings and Loans, Deap Capital Management & Trust, DN Tyre & Rubber, FTN Cocoa and Goldlink Insurance. Others are International Energy Insurance, Medview Airline, Resort Savings & Loans, Staco Insurance, Standard Alliance Insurance, UNIC Diversified...

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