Nigeria’s GDP Growth Falls To 4.03% in Q3 – NBS reports

The nation’s economy grew more slowly in the third quarter of the year than it did in the second quarter.

Primebusiness.africa obtained this from the fresh report released by the National Bureau of Statistics on Thursday, November 18.

In the report, Simon Harry, Statistician- General of the Federation, announced that Gross Domestic Product growth rate fell to 4.03 per cent in Q3 from 5 per cent in Q2.

According to Harry, during the quarter, aggregate GDP stood at 45.11tn in nominal terms, an increase of 15.41 per cent over the performance in the corresponding period of 2020.

The Statistician- General of the Federation said the base effect of the negative economic growth recorded in Q2 and Q3 2020 as a result of the COVID-19 pandemic contributed to the growth in GDP in 2021.

He added that the current growth trend can be sustained with strict adherence to safety measures effected to control the spread of the COVID-19 pandemic and other variants of the disease.

PBA Reporter

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• PBA Reporter

  Reps Summon Aregbesola, NIS Boss Over Passport Contracts
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  Oil Price Drops To $73 On Omicron Concerns
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  SEC Begins Charging Regulatory Fee On Fixed Income Transactions
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  2023: Buhari Discloses His Next Line Of Action After Presidential Election
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  Buhari Okays Payment Of Salaries Withheld Over Health Workers’ Strike
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  DMO Offers 10-Year N250bn Sukuk For Subscription
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  World Bank Rolls Out N329.53bn Cash Transfer Programme In Nigeria
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  UK Lifts Suspension On Processing Of Visitor Visa Applications From Nigeria
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  Terminate Passport Production Contract With Foreign Firm – Reps Tell FG
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  FG Debt Servicing Gulps N2.49tn In Nine Months – DMO
• PBA Reporter

  Food Prices Continue To Soar As Inflation Dropped in November
• PBA Reporter

  Why Buhari Is Reluctant To Assent To Electoral Bill – Falana
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  Omicron: Why We Removed Nigeria From Travel Red List – UK
• PBA Reporter

  Nigeria Secures $210m AfDB Loan To Boost Agricultural Sector
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  Nigeria’s Debt Rises By N2.54tn In Three Months – DMO
• PBA Reporter

  Nigeria’s Oil Production Increases By 2.55 Million Barrels – OPEC
• PBA Reporter

  BREAKING: UK Removes Nigeria, 10 Others From Red List
• PBA Reporter

  FG Hints On Imposing New Taxes, Tariffs, Gives Reasons
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  Breaking: Buhari Nominates New Minister To Replace Sacked Power Minister
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  Finance Bill: Our Tax System Must Work For Every Nigerian – FIRS
• PBA Reporter

  Banks Record N1.3tn Non-Performing Loans – CBN
• PBA Reporter

  NNPC To Stop Rising Cooking Gas Price, Increase Supply
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  Presidency Says No TIN-For-Bank Account Requirement In Finance Bill
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  UK’s Transport Secretary Intervenes In Travel Ban
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  FG Threatens To Put Canada, UK, Others On Travel Ban
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  UK Vows Not To Reverse Travel Ban Over FG’s Threat
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  Why FG Reduced Emirates’ Flights To Once Weekly – NCAA
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  UK Optimistic Buhari Will Sign Electoral Bill
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  Six Reasons Buhari Rejected Direct Primaries In New Electoral Bill
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  Power Generation Drops By 1,119.6MW, Sector’s Growth Falls By 45%
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  IMF Says Crypto May Displace Local Currencies In Developing Countries
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  CBN To Give 10,000 Bauchi Farmers N5.7bn For Dry Season Farming
• PBA Reporter

  COVID-19: FG Begins Giving Booster Shots, US Donates 2.5 Million Doses
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  Omicron Variant: NACCIMA Condemns Travel Bans On Nigeria
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  CBN Considers Adoption Of eNaira As Payment Gateway
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  Anti-Corruption Day: Nigeria Reaffirms Commitment To Rooting Out Corruption
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  Minister, Aiteo Give Update On One Month Old Oil Spill In Nembe
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  Reps Take Major Action As CBN, AMCON, Others Shun Budget Defence
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  Lagosians To Present COVID-19 Vaccination Cards To Attend Social Gatherings
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  Omicron: Economists Speak On Travel Bans, Way Forward
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  DMO Supports Naira Exchange Rate With $15.4bn
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  Nigeria’s Trade Deficit Rises 62% To N3trn In Q3 2021 -NBS
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  Omicron: Airlines Risk Ban As NCAA Lists New Boarding Rules
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  IMF Hints On Factors Responsible For Rising Inflation In Nigeria
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  BREAKING: Nigeria Confirms 3 Additional Cases Of Omicron
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  3 Students In Police Net Over Sylvester Oromoni’s Death
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  BREAKING: Buhari Writes Senate, Demands Passage Of Finance Bill 2021
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  Omicron: Lai Mohammed Says UK Travel Ban On Nigeria Unjust
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  Global Response to Omicron An Apartheid, Says UN Chief Guterres
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  Nigeria Borrows N8.311trillion From Pension Funds, Experts Cry Out
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  Omicron: AfDB President Describes Travel Ban On African Countries As Unfair, Discriminatory
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  Travellers Stranded In Lagos, Abuja Airports Over Omicron
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  Nigeria Records Zero Revenue From Oil Export – NNPC
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  CBN Backs Bankers’ Committee $100 Million Commitment To Revamp National Arts Theatre
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  Omicron Variant: FG Finally Reacts To UK Travel Ban On Nigeria
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  Aminu Kano Memorial Lecture: Fayemi Says Secession Not Solution To Nigeria’s Challenges
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  AfDB Attracted $5.6 Billion In Investments To Agricultural Sector – Akinwumi Adesina
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  South-East Governors Raise Alarm, Say Killings Beyond IPOB
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  WHO Chief Scientist Urges People Not To Panic Over Omicron Variant
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  AfCFTA To Grow Africa’s GDP To $420 Billion By 2025 – Ambassador Eloho Otobo
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  Omicron: States Spring Into Action, Describe Funding As Major Obstacle
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  Omicron Variant Spreads To 23 Countries – WHO
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  NCAA Finally Approves Commencement Of Commercial Flights In Anambra Airport
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  LCCI Elects Olawale-Cole As 24th President
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  AfCFTA: Key Takeaways From 5th Edition Of Prime Business Africa’s SEEDS (Video)
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  Nigerian External Reserves Dropped By $610m In November – CBN
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  South African President Ramaphosa’s Visit Successful Despite Omicron Scare – Buhari
• PBA Reporter

  BREAKING: Buhari Receives South African President Ramaphosa Amid Omicron Variant
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  MTN Nigeria Launches 575 Million Shares To Retail Investors At N169 Per share
• PBA Reporter

  BREAKING: NCDC Confirms First Case of Omicron Variant In Nigeria
• PBA Reporter

  ECOWAS Commission, UNECA Organize Technical Review Of Draft Regional AfCFTA Implementation Strategy
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  Fidelity Bank Appoints New Independent Non-Executive Director
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  NIS Projected Passport Revenue Drops By 96% – Report
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  Twitter Co-founder Jack Dorsey Steps Down As CEO
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  COVID-19: NCDC Says It’s Monitoring Emerging Evidence On Omicron Variant
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  WTO Postpones Conference Over New COVID-19 Variant
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  World Bank Says Nigeria’s Exchange Rate Policy Discourages Investors
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  CBN Plans To Set Up Finance Centre At Eko Atlantic City In 2022
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  COVID-19: Nigerian Govt Directs All Workers To Resume December
• PBA Reporter

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  BREAKING: Diezani Loses Bid To Recover $40m Jewellery From FG
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  CBN Awards N5m Loans To Graduates Under New Scheme
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  Utomi Hints On How Businesses Can Survive Volatility of Nigerian Economy
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  Flour Mills, Honeywell’s Market Capitalisation Rises By 34%
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  ICT’s Contribution To Nigeria’s GDP Hits N8.13tn In Q3 – NBS
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  BREAKING: FG Announces Date For Air Nigeria Official Take-off
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  Ecobank Sends Strong Warning To Flour Mills Over Honeywell Deal
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  Dana Air Appoints Sukhjinder Mann As New Deputy CEO
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  BREAKING: No Life Was Lost At Lekki Tollgate – Lai Mohammed Faults Lagos Panel Report
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  Wike to FG: VAT Suit Will Strengthen Rule Of Law
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  Capital Inflow Crashes By 80% As Foreign Investors Shun Nigerian Market
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  FairMoney MFB Disburses Over N71 Billion In Loans In 2021
• PBA Reporter

  Ikeja Electric Invests Over N200M On Safety Equipment In 12 Months
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  JUST IN: Flour Mills Buys Honeywell For N80bn
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  CAC projects to take N24.5bn from registration fees, others
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  Lagos Needs $15 Billion Over 5 Years For Development – Sanwo-Olu
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  Again, Emirates Airline Extends Flights Suspension Till Nov 30
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  Fidelity Bank’s Nine Month Profit Increases By 31.4%
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  FG Approves N656 Billion Fresh Loan For 36 States
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  Religious Intolerance: HURIWA Faults US On Delisting Nigeria Under Buhari
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  US Removes Nigeria From Religious Violators’ List
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  FAAC: FG, States, LGs Share N671.910 Billion In October
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  Senate Criticises SEC For Spending Earnings On Salaries, Emoluments
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  Passengers Cry Out As Railway Workers Begin Strike
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  Emefiele Says Crypto Firms Practise High-Level Of Illegality
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  Delta Airlines Announces Surge In Bookings As US Opens Up
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  Two Gas Explosions In Five Months Raise Concerns Among Lagos Residents
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  Microsoft ADC Announces Date For First Skill-Based User Group Event
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  Governor Obiano Appoints Theodora Igwegbe As Anambra New Head Of Service
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  Again, NCC Alerts Of Hacking Group Targeting Telcos, ISPs
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  Chevron, ExxonMobil, Others To Pay NNPC N156bn For Crude Exports – Report
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  AfCFTA Will Soon Become World’s Largest Free Trade Area – Akinwumi Adesina
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  AfDB Calls For Investments In Health Infrastructure From Private Sector
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  Capital Market Achieving Financial Inclusion For Nigerians – NGX CEO
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  Finance Minister Says Nigeria’s Debt To GDP Still Low At 33%
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  COREN Sets Up Nine-Member Panel On IKoyi Building Collapse
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  Access Bank Unveils 6th AccessX Experience Centre In Lagos, Others
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  Kuda Bank Threatens To Close Accounts Engaged In Cryptocurrency Transactions
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  Buhari Commends Elumelu For Training, Funding African Entrepreneurs
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  OPEC Revises 2021 Global Oil Demand To 5.7 Million Barrels Daily
• PBA Reporter

  Nigeria Loses Africa’s Top Oil Producer Position To Libya
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  Delta Assembly OKays Okowa’s N18.7bn Loan From CBN
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  FEC Approves 2021-2025 National Development Plan, Projects N348.7tn Investments
• PBA Reporter

  Nigeria’s Debt Stock Hits N42.7tn As Senate Approves Fresh $16bn Loans
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  Nigeria, Others Need $429bn External Financial Support – World Bank
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  Stock Market Records Decline After Days Of Gaining, Investors Lose N12bn
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  Zenith Bank Alerts Customers On Fake 30th Anniversary Online Giveaway
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  Unemployment: Population Growth Rate Exceeds Economy Capacity – Osinbajo
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  Revenue Sharing: FG Proposes 3.13% Increase In LG Allocation
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  NBS: 36 States, FCT Recorded N849bn Revenue In 1H 2021
• PBA Reporter

  International Airlines: Aviation Fuel Price Jumps By 70%
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  MTN, Airtel Lead Top Five Stocks As Investors Gain N252.41bn
• PBA Reporter

  Bitcoin Price Skyrockets To Record High Of More Than $68,000
• PBA Reporter

  Ikoyi Building Collapse: How Developer Ignored Instruction To Insure Property
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  Uber Launches Uber Connect In Lagos To Affordably Send Goods
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  Stock Market Begins On Positive Note As Investors Gain N643bn In One Day
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  Moving Goods Locally In Nigeria Over 500% Costlier Than US – World Bank
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  Nigeria’s Private Sector Borrowing Rises to N33.8 Trillion – Report
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  Private sector activity continues to expand but intense cost pressures weigh on growth – Stanbic IBTC MPI report
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  Stock market closes on negative note as investors take profits in banking
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  Nigeria Records $10.1b Investment Announcement – Minister
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  Pensioners Asked to Allow Operators to Manage 75% of Retirees’ Balance
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  100 for 100 Policy: CBN Fixes N5bn Maximum Loan Limit
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  MTN, Airtel Receive Approval to Operate Payment Service Bank
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  POS Transactions in Nigeria Drop to N552.3 Billion in October
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  Doroki in Partnership with Paga, Visa to Transform Transaction of SMBs
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  Banks to stop accepting old £20, £50 notes Dec 31
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  Facebook Deletes Ethiopia PM’s Post That Urged Citizens to ‘Bury’ Rebels
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  FEC Okays N33.8bn for Installation of Baggage Handling, Others at Lagos, Abuja Airports
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  NBET Hints on Why Nigeria Sells Electricity to Neighbouring Countries
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  Payments Revenue Pool On Track To Nearly Double By 2030
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