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  • Shell Nigeria lifts force majeure on Bonny oil

    Royal Dutch Shell  said on Tuesday it had lifted a force majeure on its Nigerian Bonny Light crude oil loadings which was declared on June 13 due to leaks and fires on its Trans-Niger Pipeline. Shell’s Nigerian...

    • Posted July 12, 2011
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  • NSE All Share Index hits below nine months support

    The free fall of share prices on the bourse continued as the bears revved to dominate market activities, plunging All-Share Index further into red zone to hit new low below 24,000 points while breaking nine months support...

    • Posted July 12, 2011
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  • Segun Agbaje would take over as GTBank Chief Executive

    Guaranty Trust Bank (GT Bank) said on Tuesday acting chief executive Segun Agbaje would take over as the lender’s substantive head following the death of his predecessor last month. Agbaje joined GT Bank when it first launched in...

    • Posted July 12, 2011
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  • Union Bank signs deal with new investors

    Union Bank  said on Tuesday it had signed a detailed recapitalisation agreement with a group of institutional investors led by the African Capital Alliance (ACA) private equity firm. Under the deal, which was agreed in principle in...

    • Posted July 12, 2011
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  • FBN UK signs fresh $120m loan facility to finance trade projects

    FBN Bank (UK) Ltd, a subsidiary of First Bank of Nigeria Plc, has announced the signing of a new US$120,000,000 (about N19.2 billion), 364-day term loan facility to finance trade projects for FBN UK’s banking clients. The...

    • Posted July 12, 2011
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  • NNPC dollar sales strengthen naira

    The naira firmed against the U.S. dollar on Monday, buoyed by the sales of around $400 million by Nigerian National Petroleum Corporation (NNPC) to selected banks on Friday. The naira closed at N151.80 to the dollar compared...

    • Posted July 12, 2011
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  • Murdoch Phone Hacking Scandal May Take Down Head Of WSJ

    So far the imploding scandal surrounding the shuttering of Rupert Murdoch‘s News of the World following new revelations in the phone-hacking scandal has remained mostly a British spectacle. That soon may change. Here’s why. When Murdoch took...

    • Posted July 11, 2011
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  • Anish Daryani joining Ogilvy Africa as head of Nigeria operations

    Anish Daryani, who was Business Head at Everest Brand Solutions, is headed for an international assignment at Ogilvy Africa. He will be based out of Lagos in Nigeria. He is joining Ogilvy Africa as General Manager, Nigeria...

    • Posted July 11, 2011
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  • CBN Approved Access Bank and Intercontinental Bank Merger

    The Central Bank of Nigeria has approved an implementation plan worked out by both parties, the lenders said in an e-mailed statement today. “Consequently, the parties will now commence the process of a scheme of arrangement” that...

    • Posted July 11, 2011
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  • GTBank named “Best Bank in Nigeria” by Euromoney

    For the third consecutive year, Guaranty Trust Bank, one of Africa’s foremost Banking groups has been named “Best Bank in Nigeria” by pre-eminent international finance magazine Euromoney. The award was presented at the 2011 Euromoney Awards for...

    • Posted July 9, 2011
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