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|Nine Banks Earned N25.9bn From Electronic Products In Q1 by Newsbreakers: 4:55pm On Jul 23, 2018|
NINE BANKS EARNED N25.9BN FROM ELECTRONIC PRODUCTS IN Q1
Nine Nigerian banks made about N25.9bn in the first three months of the year from electronic transactions, the first quarter unaudited annual reports of the banks showed.
This is an increase of N6.22bn over the N19.7bn that the nine banks made from electronic business in the same period of the previous year.
The amount was earned from fees and commission that the banks charged their customers when they carried out transactions through Automated Teller Machines, Internet banking, and Point of Sale machines.
KADUNA, PORT HARCOURT REFINERIES DORMANT – NNPC
The latest operational performance of the nation’s refineries as released by the Nigerian National Petroleum Corporation (NNPC) shows that two of the plants in Kaduna and Port Harcourt have been dormant.
According to the NNPC, while the two refineries cannot refine any crude oil, the one in Warri is performing better, as its capacity utilisation has appreciated considerably.
The refineries are the Warri Refining and Petrochemical Company, Port Harcourt Refining Company and Kaduna Refining and Petrochemical Company.
#BANKWARS: STERLING, ACCESS, OTHERS IN ENTERTAINING TWITTER SUPREMACY BATTLE
Five Nigerian banks are currently enmeshed in a Twitter supremacy battle that social media platform users said has brought an interesting dimension to brand and advertising in the nation’s banking industry.
For more than 48 hours since Friday, at least five of the nation’s top banks have provided entertainment for many Nigerians on the platform in an entertaining battle now dubbed #BankWars.
The banks, which have been trolling one another, continue to throw up hilarious jibes on the social media platform. The various posts have since gone viral.
OIL PRICES FALL AMID DEMAND CONCERNS
Oil prices fell on Monday amid increasing concerns about fuel demand after finance ministers and central bank governors from the G20 warned that global economic growth risks have increased amid rising trade and geopolitical tensions.
Brent crude LCOc1 dropped nine cents, or 0.1 per cent, to 72.98 dollars a barrel by 6.47 GMT.
U.S. West Texas Intermediate futures CLc1 declined 13 cents, or 0.2 per cent, to 68.13 dollars a barrel.
WHY MANY NIGERIAN BUSINESSES DON’T ACCESS GOVT FINANCING — ENELAMAH
The Minister of Trade and Investment, Okechukwu Enelamah on Friday identified lack of requisite information and pessimism as core reasons why most medium and small-scale enterprises (MSMEs) and entrepreneurs in Nigeria do not access government financing to grow their businesses.
He said the numerous sources of financing provided by the current administration were not being explored by many, thereby causing such funds to lie dormant in the administering government entities.
Mr Enelamah, who addressed a group of aspiring entrepreneurs and business owners at a skills acquisition and empowerment programme organised by The Everlasting Arms Parish (TEAP) under the Redeemed Christian Church of God (RCCG), Abuja also said Nigerian businessmen and women should hold government officials accountable in the process of applying for government loans as these officials are paid to serve the people.
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