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First Bank, GTBank, Zenith join world’s most valuable 500 banks
Brand Finance Plc has named First Bank of Nigeria Plc, Guaranty Trust Bank Plc and Zenith Bank Plc among the world’s 500 most valuable bank brands in its 2014 global rankings. A statement by the...
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NUPENG urges FG to compel oil majors to respect Nigeria’s labour laws
NUPENG AND PENGASAN PROTEST IN ABUJA The President of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Mr Igwe Achese, has told the Federal Government to compel multi-national oil...
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BPE receives 25% of bid price for Afam Genco, Kaduna Disco
The Bureau of Public Enterprises (BPE) Tuesday disclosed that two of the preferred bidders for the 726-megawatt (MW) Afam Generation Company and Kaduna Distribution Company (Disco) had paid their...
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Osun govt. denies N413bn debt profile
The Commissioner for Finance in Osun, Mr Wale Bolorunduro, on Wednesday denied that the state government had obtained N413 billion loan from banks. Bolorunduro denied the insinuation while defending...
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FMO grants Fortis MFB N1.06bn loan
Fortis Microfinance Bank Plc has received a loan facility worth five million Euros (N1.064 billion) from the FMO, the Netherlands Development Finance Company. The company, in a statement made available...
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Africa needs $40 bn investment annually to meet energy target — EU
THE NATIONAL INTEGRATED POWER PROJECT 434mw GEREGU POWERSTATION INAUGURATED BY PRESIDENT GOODLUCK JONATHAN IN AJEOKUTA, KOGI The European Union (EU) on Wednesday said Africa needs 40 billion dollars...
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Brent oil edges higher towards $109 on strong China trade data
Brent crude rose towards 109 dollars a barrel on Wednesday after upbeat Chinese trade data raised optimism of continued growth in oil demand. China’s exports beat expectations, rising 10.6 per cent in...
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N1bn fraud: Ajudua wants Bamaiyi prosecuted over alleged money laundering
A one-time Lagos socialite, Fred Ajudua, has urged an Ikeja High Court to compel the EFCC to prosecute a former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi (rtd), for alleged money laundering. Ajudua...
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NCS generates N783.2m in January at Seme
The Nigeria Customs Service (NCS), Seme Command, on Wednesday said it generated N783.2 million in January. The command’s spokesman , Mr Ernest Olottah, said this in an interview with the News Agency of...
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Inadequate gas supply, other issues force NERC to defer declaration of TEM
The Nigerian Electricity Regulatory Commission (NERC) Wednesday made known its decision to defer the official commencement of the Transitional Electricity Market (TEM) until when all the expected...
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Oil theft, govt spending, greatest challenges to economy – Sanusi
CENTRAL Bank of Nigeria, CBN governor, Mallam Sanusi Lamido Sanusi has identified oil theft and increasing government spending as the greatest challenges facing the Nigerian economy. He stated this...
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Nigeria risks IMO sanction over seized vessel
Nigeria may draw the ire of the global maritime watchdog, International Maritime Organisation (IMO) as she continues to hold unto Uruguay-bound vessel, MV Iron Trader, following suspicion that some of...
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AMCON records largest bond redemption
The Asset Management Corporation of Nigerian (AMCON) said that it redeemed N1.7 trillion bonds in December 2013, an amount it described as the largest bond redemption so far in the history of Nigeria....
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Overland crashes fares to N10,000, N20,000
One of the indigenous airlines, Overland Airways has crashed its airfares to N10, 000 and N20,000 to some domestic routes in the country. The routes with reduced fares are Lagos-Asaba, Lagos-Minna,...
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Saudi Arabia: Bogus builders hired to fill work quotas
Thousands of people – including women – have been hired as bogus builders in Saudi Arabia so that companies can meet government targets requiring them to hire local workers before taking on foreigners,...
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NSE indices grow by 0.02% in spite of decrease in volume of transactions
The market indicators of the Nigerian Stock Exchange (NSE) on Tuesday appreciated marginally by 0.02 per cent in spite of decrease in the volume of shares traded. The News Agency of Nigeria (NAN)...
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Oyo House passes 2014 budget
GOV. AJIMOBI PRESENTS OF 2014 BUDGET IN IBADAN The Oyo State House of Assembly on Tuesday passed the 2014 Appropriation Bill presented to it by Gov. Abiola Ajimobi on Dec. 19, 2013. The News Agency...
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New capital requirement: ICMR assures of members’ compliance
MR IME USUAH (M), WINNER OF SECURITIES AND EXCHANGE COMMISSION (SEC) MAIDEN INTEGRITY AWARD OF THE CAPITAL MARKET COMMITTEE, WITH HIS WIFE, MERCY (L), AND SECS DG, MS ARUNMA OTEH, AT THE AWARD...
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NNPC explains why kerosene is not sold at official price
QUEUE FOR KEROSENE IN BAUCHI The Group Managing Director of NNPC, Mr Andrew Yakubu, on Tuesday in Abuja said that kerosene was not sold at the official price of N50 per litre because of diversion of...
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LIRS seals Ikorodu Industrial Power Ltd over non-remittance of N9.2m taxes
The Lagos State Internal Revenue Service (LIRS) on Tuesday sealed the Ikorodu Industrial Power Ltd (IIPL), for refusing to remit over N9.2 million in income taxes. A correspondent of the News Agency of...
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