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Nigerian business mogul and Africa’s richest man, Aliko Dangote has dismissed reports making the rounds that he has passed on. A story by Dw-tv3.com said Mr Dangote, 59, has died in Germany after a short illness. News of the death hit social media and...

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Angola’s Energy Sector Overhaul Tests Ties with Trafigura

An overhaul of Angola’s energy sector poses a test for Trafigura’s close-knit relationship with the west African country, as the Opec member restricts spending and forges ties with rival trading houses during the prolonged oil slump. In the past year energy bankers say Angola’s cash-strapped state oil company, Sonangol, shunned a $500m fundraising at Puma Energy, a fast-growing fuel retail...

Looming Credit Crunch Adds to Africa’s Financial Woes

Regulatory probes signal why reforms are needed on reporting standards A decade ago the phrase “level-three assets” made bankers wince. The reason? Back then it referred to an accounting category of securities so fiendishly hard to value with mark-to-market metrics that bankers were in effect...

Ecuador Hopes OPEC will Reach Agreement in Algeria, Warns of Risks

Ecuadorean President Rafael Correa said on Saturday he hopes OPEC countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of “serious risks” for the group if they do reach a deal. Members of the Organization...

Oil Slumps 4% as No Output Deal Expected for OPEC

* No Saudi-Iran agreement ahead of Algeria talks * U.S. oil rig additions most in a quarter in past 2 years * Brent futures end flat on the week, WTI gains 3 pct (New throughout, updating market activity, price milestones and comments to settlement) NEW YORK, Sept 23 ...

NSE Index up 0.29% as 7up, Okomuoil, Cadbury Top Gainers Chart

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The Nigerian Stock Exchange All Share Index (NSE ASI) today recovered from previous trading session’s relapse, with a growth of 0.29 percent to close at 28,247.07 points while market capitalisation closed...

by Staff Reporter

Nigeria’s Naira Gains 1.69% Against Dollar

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The Nigerian currency (Naira) recovered today at the interbank market with a gain of 1.69 percent to close at N307.79 to one US Dollar, compared to a decline of 0.96 percent yesterday when it traded at N313.07. The Naira further weakened to the Dollar at the parallel market, selling at N442 in contrast to N435/$US it sold for yesterday, it also declined...

Nigeria’s Naira Talls Against Dollar, Yen And Other Currencies

The Naira on Thursday crashed further against the major currencies in all the segments of the market, the News Agency of Nigeria (NAN), reports. At the interbank market, the naira fell by 2.99 points to close at N313.07 from N310. 08 recorded...

WEEKAHEAD-AFRICA-FX: Naira seen weakening further, Kenyan Shilling Steady

The Nigerian naira is expected to weaken further in the next week mainly due to fears of constrained supplies of dollars. NIGERIA The naira hit a record low of 436 to the dollar on the parallel market on Thursday and is expected to depreciate...

Nigeria’s Naira Sheds 0.08% Against Dollar at Interbank Market As NSE index gains 0.02%

The Nigerian currency (Naira) fell by 0.08 percent to close the day at N310.08 to the Dollar compared to a 0.84 percent decline recorded yesterday when N309.83 was exchanged for one $US,  at the spot FX market. The Naira also weakened...

EFCC Connects Patience Jonathan With 9 Houses, 2 Hotels, One Plaza

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Economic and Financial Crimes Commission (EFCC) investigators probing ex-First Lady Patience Jonathan’s link with five choice buildings, including a N5billion hotel in Abuja, have unearthed seven additional...

Why I Cancelled MoUs Between Oil Companies And Host Communities – Okorocha

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The Imo State Governor has cancelled all Memorandum of Understanding between oil producing communities and oil companies operating in Ohaji Egbema and Oguta oil producing communities in Imo State. The...

No Plan to Rig Edo Election, PDP Insists

Democratic Party (PDP) has debunked an allegation that the party was planning to rig the Wednesday governorship election in Edo. A statement signed by the PDP National Publicity Secretary, Prince Dayo...

NUPENG can’t afford to go on strike now – President

The President, National Union of Petroleum and Natural Gas Workers (NUPENG), Achese Igwe, said that the union could not afford to embark strike now, because it would increase the suffering of Nigerians. Igwe...

Nigeria to Adopt Telemedicine to Tackle Medical Tourism, Manpower Gap

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Bill, Melinda Gates chart path to polio eradication To bridge the manpower gap in the health sector and reduce medical tourism, the Federal Government yesterday announced plans to adopt the use of telemedicine. This,...

Obesity Gene no Barrier to Weight Loss, Study Shows

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Researchers find people with gene linked to weight gain as likely to benefit from fat reduction schemes as those without People with a gene linked to weight gain are just as likely to benefit from weight...

Smoking Causes Long-Term Damage To Your DNA, Study Finds

Some genetic damage can last as long as 30 years. Here’s one more reason to kick your smoking habit: A new study has found that cigarette smoking leads to disease-causing DNA damage that can last more...

Study Finds Fitness Trackers Might Impede Weight Loss

“The University of Pittsburgh study published in JAMA did not use Fitbit devices or the Fitbit app, so we cannot speak to their specific findings. As the leader in the wearables category, we are...