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CBN floods banks with dollars

In an effort to support and shore-up the value of Naira, the Central Bank of Nigeria (CBN) has flooded commercial banks with dollars. The banks are reported to be holding excess forex and were seeking customers to buy foreign currencies. The banks have cleared the backlog of requests for foreign …

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Banks to meet dollar demands in 48 hours: CBN

  The Central Bank of Nigeria (CBN) has directed commercial banks  to henceforth process and meet the demand for dollars and other foreign currencies within 48 hours. In a circular made available to journalists, on Sunday in Abuja, the Director, Financial Markets Department,CBN, Dr Alvan Ikoku said the order would …

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Germany bans US-made ‘smart doll’ that has a spying device

German regulators have banned a US-manufactured “smart doll”, warning that it is a de facto “spying device” and called on parents to destroy or disable it. The Federal Network Agency (FNA) which enforces bans on surveillance devices has classified the “My Friend Cayla” doll, manufactured by the American company Genesis Toys, as an “illegal espionage …

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CAC staff’s strike: company registrations stops

Registration of company and businesses in Nigeria’s capital, Abuja were suspended on Wednesday following an industrial action by staffs of the Corporate Affairs Commission (CAC). The Staff Union of CAC began a three-day warning strike in protest of alleged non-payment of nine per cent salary arrears. The headquartersof the CAC …

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Chinese-made passenger drone to fly in Dubai

Dubai hopes to have a passenger-carrying drone regularly buzzing through the skyline of this futuristic city-state in July. The arrival of the Chinese-made EHang 184 — which already has had its flying debut over Dubai’s iconic, sail-shaped Burj al-Arab skyscraper hotel — comes as the Emirati city also has partnered …

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Gov. Ambode approves increase in BRT, LAGBUS fare

The Lagos State Governor, Akinwunmi Ambode, has approved fare increase for Bus Rapid Transit (BRT) and LAGBUS and this change is to take effect from March 1, 2017. This was made known by Engr. Abiodun Dabiri, LAMATA Managing Director, who addressed journalists at Bagauda Kaltho Press Centre, Alausa, on Monday. …

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