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Nigerian equity markets reversed losses recorded in the first trading week of August to post relatively profitable trading last week. The stock exchange strengthened in three of the five trading sessions as the All Share Index (ASI) rose +0.87% and closed the week at 98,592.12 points from 97,745.73 points in the previous week. Additionally, investors gained N480.8 billion as market …

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A formal petition has been filed with the Federal Character Commission (FCC) against Abubakar O. Sulaiman, Director General of the National Institute of Health (NILDS). The petition, authored by Professor Jake Dan-Azumi, accuses Mr Sulaiman of serious misconduct since his appointment in 2019, including abuse of office, violation of federal moral principles and breach of public trust. The charges allege …

Nigeria’s Deposit Insurance Corporation (DIP) on Sunday explained why 17.64% of insured depositors of the defunct Heritage Bank have not already paid. In a statement issued by its spokesperson, Bashir Nuhu, the NDIC said depositors had not been paid because they had no debit instruction (PND) or no Bank Verification Number (BVN) on their accounts. The commission added that 82.36% …

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