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GTBank rated top financial services company
CEO GTBank, Mr Segun Agbaje Guaranty Trust Bank plc (GTBank) has been recognised as a top Nigerian company in the banking industry according to African Business’ Annual Rankings Magazine. A statement...
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NEITI, PPPRA trace ‘missing’ N4.4bn subsidy money to CBN
The Nigeria Extractive Industries Transparency Initiative (NEITI) and Petroleum Products Pricing Regulatory Agency (PPPRA) have finally found the allegedly missing N4.423 billion petroleum subsidy...
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Dangote to raise sugar capacity to 2.75 million tonnes by 2017
Dangote Sugar Refinery Plc, Nigeria’s biggest producer of the sweetener, plans to almost double refining capacity to 2.75 million metric tonnes by 2017 as it expands its Lagos plant, its Chief...
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PHCN investors give condition for 75% outstanding payment
The Roundtable of Electricity Distribution Companies (Discos) yesterday urged the Federal Government to complete the payment of the Power Holding Company (PHCN) severance package for disengaged staff...
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The New Counterfeit-Tackling Technology
A NEW technology could soon be implemented to help identify counterfeit designer goods travelling both into and out of Britain. The terahertz time-domain spectroscopy has been developed by the UK’s...
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Asia to conquer luxury goods market
ASIA is expected to account for between 50 and 60 per cent of luxury sales within the next 10 years. The region currently represents around two thirds of the market, but has seen a dip in high-end...
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CRR: Interest rates to benefit depositors
Shade, a petty trader sees no reason for her to have a bank account. To her, savings account is just a way for banks to collect money from the poor to enrich their pockets. She cites examples of...
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Kalu given 14 days to pay debt owed on land use as Fashola orders property...
The Lagos State Government on Tuesday dismissed Dr. Orji Uzor Kalu’s claim that his property was sealed over his criticism of the recent deportation of some non-indigenes to Anambra State, saying the...
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NIPOST plans to offer e-service for rural communities, says Postmaster – General
NIPOST would establish more cybercafés soon in all the post offices nationwide, the post master said. The Postmaster-General of the Nigerian Postal Service, NIPOST, Ibrahim Baba, said on Wednesday that...
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Skye bank gets ‘B/B’ ratings
Rating agency, Standard and Poor’s (S&P), has assigned ‘B/B’ counterparty credit and ‘ngBBB/ngA-2’ national scale ratings to Skye Bank Plc. The rating agency said the stable outlook assigned to the...
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Eko Electricity Distribution Company advises customers on new pre-paid meters
The Eko Electricity Distribution Company has advised customers to register for the new pre-paid meters to stop allegations of arbitrary billing by the PHCN. Mr Godwin Idemudia, the company’s Assistant...
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In a show of brinksmanship, reserve bidders prepare to take over Discos
A number of reserve bidders for the 10 distribution companies (Discos) carved out from the Power Holding Company of Nigeria (PHCN) have indicated their readiness to step in with their reserve bids, if...
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CBN takes delivery of new naira notes September
CBN Deputy Governor Operations,Tunde Lemo The Central Bank of Nigeria (CBN)will take delivery of new naira notes before the end of September for circulation, the Deputy Director, Operations, Dr Tunde...
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Oil soars on Egypt turmoil, tops $110 per barrel
Brent oil jumped to a four–month high on Thursday on fears a new wave of political turmoil in Egypt could disrupt supplies through the Suez Canal. Unrest has reawakened in Egypt after a brief period of...
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Zenith Bank Declares N54bn Half-year Profit
Zenith Bank Plc has announced a profit before tax of N54.1 billion for the half year-ended June 30, 2013, indicating a growth of eight per cent above the N50.2billion recorded in the corresponding...
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World Bank, WAIFEM move to ensure Nigeria’s debt is at sustainable level
The World Bank and West African Institute for Financial and Economic Management (WAIFEM) have announced collaboration between them, which may result in measures that will help keep Nigeria’s local and...
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Ajimobi to re-examine shop allocation process at Scout Camp Market
Governor Abiola Ajimobi of Oyo State has said that his administration will re-examine all the processes employed in the allocation of shops at the Scout Camp Market, Challenge, Ibadan. He stated this...
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Plateau development agency executes 155 community projects
By Godfrey Sunwar, Jos A public project intervention organ, the Plateau State Community and Social Development Agency (PLCSDA), has completed 155 functional projects spread across the state since its...
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FG pays N119. 2bn to 20, 304 PHCN workers as severance benefits – NCP
The National Council on Privatisation has said that 20,304 out persons of the 40,000 staff of Power Holding Company of Nigeria have so far been cleared and paid their severance benefits. In a statement...
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No payment deadline extension, BPE tells power investors
Minister of Power, Prof Chinedu Nebo The Bureau of Public Enterprises has said it will not extend the Wednesday deadline for the payment of the outstanding 75 per cent of the bid prices for 15...
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