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    • Court Has No Jurisdiction For My Arrest Warrant, Says Innoson Boss

      The Chairman of Innoson Motors, Mr Innocent Chukwuma, has described the warrant for his arrest by a Federal High Court in Lagos as an abuse of court process. Mr Chukwuma in statement personally signed by him, said the order is a nullity and does not have any ground in law, adding that the court lacked the necessary jurisdiction. He said: “Firstly, there is no prima facie case against me. The charge was based on a suspected or trumped up action…

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    • CBN summons currency dealers, others on development in forex market

      The Central Bank of Nigeria (CBN) has summoned all authorised currency dealers for a meeting to discuss development in the foreign exchange market. The invitation was contained in a circular released and signed by the bank’s Director, Trade and Exchange, Mr Ahmed Umar in Abuja on Friday. It explained that the meeting would engage the participants on development so far in foreign exchange market with a view to proffer solutions or to chart a way forward. According to the circular,…

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    • NPA approves 10% discount on vessels calling at Eastern ports

      The Management of the Nigerian Ports Authority (NPA) has approved a 10 per cent discount on harbour dues in all concessioned terminals at the Eastern ports. Mr Jatto Adams, the NPA General Manager, Corporate and Strategic Communications, in a statement issued on Tuesday in Lagos said that the discount was part of efforts to increase patronage of the Eastern ports. According to him, ports that will be affected by this initiative are Calabar, Rivers and Delta Ports. “The Authority, however,…

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    • Sim Card Fine: MTN Makes Final Payment of N55bn To NCC

      MTN Nigeria Plc says it has paid the sixth and final instalment of N55 billion negotiated settlement to the Nigerian Communications Commission (NCC). The Chief Corporate Relations Officer of MTN Nigeria, Mr Tobechukwu Okigbo, made the disclosure in a statement on Friday in Lagos. According to him, the amount completes MTN’s payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016. “The successful resolution of the fine was the outcome of active collaboration between…

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    • MTN confirms EFCC investigation over listing on NSE

      MTN Nigeria Communications Plc on Saturday said that it was being investigated by the Economic and Financial Crimes Commission (EFCC) over listing of its shares on the Nigerian Stock Exchange (NSE). A statement posted on the exchange web site signed by MTN Nigeria Communications, Company Secretary, Uto Ukpanah confirmed the investigation. The statement said that the company received a letter on May 23, from EFCC requesting information and documentation related to the listing of our shares on the NSE. “MTN…

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    • Nigeria imports 4.87bn litres of petrol in Q1 – NBS

      The National Bureau of Statistics (NBS) on Friday announced that 4.87 billion litres of Premium Motor Spirit (PMS), popularly known as petrol were imported into the country in the first quarter of this year. The NBS made the disclosure in its Petroleum Products Imports and Consumption (Truck Out) Statistics for First Quarter, 2019, posted on its website. It also reported that 1.12 billion litres of diesel, 103.05 million litres of kerosene and 227.01 million litres of aviation fuel were imported.…

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    • Senate passes redrafted PIG Bill for Buhari’s assent

      The Senate, on Thursday, passed the redrafted version of the Petroleum Industry Governance (PIG) Bill 2019. The passage followed the Senate Leader, Ahmed Lawan’s reintroduction of the redrafted bill at a plenary presided over by Senate President Bukola Saraki in Abuja. The News Agency of Nigeria (NAN) reports that President Muhammadu Buhari had, in exercising his powers in accordance with provisions of 1999 Constitution, declined assent to the bill, raising some observations. Lawan noted that a technical committee of the…

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    • Prices of foodstuff increased in April — NBS

      The National Bureau of Statistics (NBS) said that the average price of some selected food items in the country increased in April. NBS said this in its “Selected Food Price Watch (April 2019)’’ report released on its website. It said the average price of one dozen of medium-sized Agric egg increased from N459.81 in March to N467.18 in April. The Bureau said that the price of a dozen of medium-sized egg decreased year-on-year by -15.38 percent and increased month-on-month by…

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    • MTN has paid 275bn SIM infraction fine — NCC

      The Nigerian Communications Commission (NCC) on Tuesday said that MTN has paid N275 billion SIM infraction fine as balance of N55 billion was due this month Prof Umar Danbatta, Executive Vice Chairman of NCC, made this known in a statement in Abuja Danbatta spoke on the state of MTN fine payment at the valedictory service organised for the Minister of Communications, Mr Adebayo Shittu in Abuja. He said following a negotiated reduction of the N1.04 trillion fine on MTN Nigeria…

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    • We Have Already Disbursed N691.56bn Paris Club Refund To States – Finance Minister

      The Minister of Finance, Mrs Zainab Shamsuna Ahmed, Monday, clarified that the N691.560 billion Paris Club refunds has already been disbursed to states since March. The minister in a statement by her Special Adviser on Media and Communications, Paul Ella Abechi, said the clarification became necessary following the news making the rounds in the media that states will soon receive disbursement of outstanding balance of the Paris Club debts on verification made amounting to a total sum of N691.560 billion.…

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