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FINANCING

Shell Nigeria Seeks More Attractive Fiscals to Reduce Cost of Projects and Encourage Investment

PHOTO : From left: Corporate Relations’ Policy & Advocacy Manager, Shell Nigeria, Abubakar Ahmed; Managing Director, Shell Nigeria Gas, Ralph Gbobo; Executive Secretary, Nigerian Content Development and Monitoring Board, Simbi Wabote; Permanent Secretary, Ministry of Petroleum, Ambassador Gabriel Aduda; Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo); Mrs. Elohor Aiboni; Minister of Planning and Economic Diversification, Republic of ...

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Ondo State Investment Summit : Seeks Partnership For State-Owned Electricity and Untapped Natural Resources

The Ondo State Investment Summit will serve as opportunity to attract investors to explore the untapped natural resources, electricity market, solid minerals, and the state deep seaport. Engr. Razaq Obe, Ondo State Commissioner for Energy and Mineral Resources who doubles as the Chairman of the summit, made this known on Wednesday during a press conference in the state capital. The ...

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FG, States, LGAs Share N786.1 Billion in May 2023 – FAAC

The Federation Account Allocation Committee (FAAC) shared N786.161 billion with the Federal Government, States and Local Government Areas in May. A communiqué issued at the end of FAAC meeting for June 2023 which was chaired by Dr. Oluwatoyin Madein, the Accountant General of the Federation disclosed this According to a statement by FAAC’s spokesman, Bawa Mokwa, on Thursday, the N786.161 ...

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UBA Signs $6 Billion Agreement with AfCFTA to Eliminate Trade Barriers

UBA and other African banks on Monday in Accra Ghana signed an agreement with the African Continental Free Trade Agreement (AfCFTA) to eliminate trade barriers.UBA signed a Memorandum of Understanding (MOU) with a portfolio of $6 billion, in Accra Ghana, targeting Micro, Small and Medium Enterprises (MSME).According to UBA the sectors to benefit from the unprecedented all-round support and trade ...

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CBN Removes Restrictions on Domiciliary Account Deposit and Withdrawal

The Central Bank of Nigeria (CBN) has said cash deposits into domiciliary accounts will no longer be restricted, and customers “shall have unfettered and unrestricted access to funds in their accounts”.The apex bank spoke in a statement issued after a meeting with the Bankers’ Committee on Sunday.The meeting was meant to provide further guidance to deposit money banks (DMBs) on ...

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CBN Issues Operational Measures to Bridge Forex Gap Between Official and Parallel Markets

…… by Ben Ndubuwa…… The Central Bank of Nigeria (CBN) has collapsed segmentation of the foreign exchange market, saying that “All segments are now collapsed into the Investors and Exporters, I&E, window.”The Central Bank of Nigeria, CBN, has abolished segmentation of the foreign exchange market, stating that “All segments are now collapsed into the Investors and Exporters, I&E, window.The CBN, ...

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Shell Pays $900 Million as Taxes, Royalties In 2022

Shell Nigeria Exploration and Production Company(SNEPCo) said, it paid a total of $907 million as taxes and royalties to the federal government last year as its operations continued to contribute to the national purse to finance development. Also last year, the company and its partners remitted more than $20.73 million to the Niger Delta Development Commission (NDDC) in compliance with ...

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