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Nigerians Lost N2.19bn To Fraud In 2016 – Report

By COMFORT NJIONYE A report by the Nigeria Electronic Fraud Forum (NEFF), which was on Wednesday showed that electronic payment space transaction fraud rose by 82 percent in 2016 with an estimated N2.19 billion lost to cyber criminals. The annual report for 2016 titled: “A Changing Payments Ecosystem: The Security Challenge”,  noted that “the

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Total Of N981bn Contributed By Banks To AMCON’s Sinking Fund Since Inception – MD

By COMFORT NJIONYE The Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru has disclosed that banks have so far contributed N931bn to the sinking fund since inception. The Central Bank of Nigeria (CBN) and the 24 banks operating had signed a Memorandum of Understanding (MoU) on the establishment of

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World Bank Allots $200m To Boost Agricultural Productivity In Nigeria

By COMFORT NJIONYE The World Bank has selected nine Nigerian states that will benefit from its $200 million Agriculture Productivity Processing Enhancement and Livelihood Scheme Projects (APPEALS). This is in line with effort to enhance agricultural productivity in the West African country. The bank’s Team Leader, Dr. Sheu Salau during an interview on the red

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SMEDAN Launches Viability Study On Redeveloping IDCs Into Industrial Clusters

By CHRIS EKEKE, Abuja In order to address the problem of work space for Micro, Small and Medium Enterprises (MSME) and promote economics of scale derivable from the agglomeration of critical mass of enterprises across the country, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN),  yesterday, launched viability study on redeveloping existing

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CBN To Revoke MFBs, Other Financial Institution’s Licenses

y NJIONYE N COMFORT The Central Bank of Nigeria, CBN, has said it would revoke the operating licences of micro finance banks, and other financial institutions, OFIs, due to non-compliance with anti-money laundering and combating terrorism financing, AML/CFT, regulations. Acting on the directives of the CBN Governor, Godwin Emefiele , Mrs Tokunbo Martins, the Director,

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HCM Reacts To SEC’s Ban: We Are Ready To Set The Record Straight For The Avoidance Of Doubt And Confusion.

Following its suspension and subsequent unbanning by the Securities and Exchange Commission from the capital market, the apex regulatory agency in the sector, Heritage Capital Markets Limited has decided to set the record straight for the avoidance of doubt and confusion. In a statement titled: ‘Heritage Capital reacts to SEC’s unbanning

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