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  • PENGASSAN threatens strike over minimum wage

    Nigeria’s senior oil workers’ union PENGASSAN said it would join a three-day strike this week, including shutting down oil and gas installations, after it said the government and private sector employers failed to implement a minimum wage...

    • Posted July 18, 2011
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  • Nigeria Surpassed Iran as OPEC Second-Largest Exporter

    Nigeria, Africa’s top oil producer, surpassed Iran as the Organization of Petroleum Exporting Countries’ second-largest exporter in 2010 as security improved in the African nation and as Iran used more crude at home. Nigeria shipped 2.464 million...

    • Posted July 18, 2011
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  • Sale of Nigeria’s Nitel bogs down in confusion

    The sale of Nitel, Nigeria’s incumbent telecom operator, has bogged down in confusion following the failure by Omen International Consortium to pay a US$105 million bid security to the Bureau of Public Enterprise. The sale of Nitel,...

    • Posted July 18, 2011
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  • Greek oil tanker hijacked off Nigerian coast

    Armed men hijacked a Greek oil tanker off the coast of Nigeria at the weekend and took the 20 crew-members hostage, Greek port police told AFP on Monday. “We learned today (Monday) that the oil tanker ‘Aegean...

    • Posted July 18, 2011
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  • Procter and Gamble Launches Oral-B Pro-Health Toothpaste in Nigeria

    The manufacturing company Procter and Gamble introduced Oral-B Pro-Health toothpaste in Nigeria. The product was launched after a 15 years research, which assured it beneficial to users. The Managing Director, Procter and Gamble, Nigeria, Mr. Manoj Kumar...

    • Posted July 18, 2011
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  • CBN Extends Credit Guarantee for 3 Banks

    Nigeria’s central bank extended its inter-bank credit guarantee for three bailed out banks until the end of December, according to its notice published today in Lagos-based Punch newspaper. The guarantees for Intercontinental Bank Plc, Union Bank Plc...

    • Posted July 18, 2011
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  • ICAN offers to assist FG prepare budgets

    The Institute of Chartered Accountants of Nigeria, ICAN, Abuja Chapter, has offered to assist the Federal Government to prepare its annual budgets early enough to enable the legislature pass them at the beginning of each fiscal year....

    • Posted July 18, 2011
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  • CBN’s interest-free banking gains momentum

    It seems that the influential governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, is winning the “hearts and minds” debate over the introduction of interest-free (Islamic) banking into Africa’s most populous yet highly...

    • Posted July 18, 2011
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  • Capital Oil deploys 200 trucks of kerosene across Lagos

    Capital Oil and Gas Ltd. will this week deploy 200 kerosene trucks to the 20 local government areas and 37 local council development areas in Lagos State through its Mobile Trucks Distribution Initiative. The company’s managing director,...

    • Posted July 17, 2011
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  • Investors lose N153bn on NSE in one week

    Investors’ agony continued last week, as the value of their investment on the Nigerian Stock Exchange, NSE, dipped last week by N152.8 billion. Investment value, represented by the market capitalization, dipped by 1.97 per cent or N152.8...

    • Posted July 17, 2011
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