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Industrialists Call for more Specialised Banks

The Central Bank of Nigeria (CBN) has been urged to increase the number of specialised banks in the country.Officials of the Manufacturers Association of Nigeria (MAN) and the Lagos Chamber of Commerce and Industry (LCCI) told NAN in separate interviews on Thursday in Lagos that the increase would enable the real sector to have more access to credits.

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Task Before Wema Bank New Management

The assumption of duties last week of the new management team at the bank also mean a task of redefining and reinvigorating the bank that has gone through a period of severe crisis occasioned by the irregular sale of the shares divested by the O’dua Group, Lucky Fiakpa writes

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Wake up call on African Insurance Practitioners

The African insurance industry has for too long assumed that they know what their customers wanted rather than taking the pains to find out from them what they actually needed. Patience Saghana who was at the 36th African Insurance Organsation (AIO) held at Dar Es Salaam, Tanzania reports that participants resolved to now market the industry services to customers rather than just selling of insurance products to them.

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Lagos Seals Five Firms over Tax Evasion

The Lagos State Internal Revenue Service (LIRS) has sealed-off premises of five companies for allegedly evading tax to the tune of over N100 million. The News Agency of Nigeria (NAN) reports that the companies were sealed for not remitting their tax liabilities from 2000 to 2007 to the coffers of the state government.

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