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  • NNPC takes over SPDC’s oil blocks

    The Nigerian National Petroleum Corporation (NNPC) has taken over some of the oil blocks which the Shell Petroleum Development Company (SPDC) is divesting. This was confirmed by NNPC spokesman, Levi Ajuonuma, who said that the corporation had...

    • Posted August 31, 2011
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  • U.S. moves to block AT&T, T-Mobile deal

    The Obama administration sued to block AT&T Inc’s $39 billion (24 billion pounds) acquisition of wireless rival T-Mobile on concerns it would harm competition, launching its biggest challenge yet to a takeover and dealing the carrier a...

    • Posted August 31, 2011
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  • Low megawatts generation at Papalanto is not our fault – Chinese Firm

    Project Manager of SEPCO III, Mr. Li Xianlai has said there must be uninterrupted supply of gas to major power plants across the country to realise government’s desire to up the nation’s electricity generation capacity to 5,000...

    • Posted August 31, 2011
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  • AMCON Plans to Boost Bond-Sale Limit by 50%

    Asset Management Corp. of Nigeria, which buys non-performing debt from lenders in the West African nation, wants to raise the amount of bonds it is allowed to sell by 50 percent to 4.5 trillion naira ($29 billion)....

    • Posted August 31, 2011
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  • Access Bank of Nigeria Plans to Buy 75% of Intercontinental Bank

    Access Bank Plc (ACCESS), a Nigerian lender, will seek approval from its shareholders to buy 75 percent of Intercontinental Bank Plc , which was bailed out by the West African nation’s central bank in 2009. Shareholders will also be...

    • Posted August 30, 2011
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  • Afren reports 42 percent drop in profit

    Plans for increasing production at Africa-focused oil and gas firm Afren are on track, it said on Tuesday, after reporting a 42 percent drop in profits in the first half of the year after a delay in...

    • Posted August 30, 2011
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  • Flour Mills of Nigeria to start Sugar Refinery in 2012

    Flour Mills of Nigeria Plc’s sugar refinery, which is under construction in Lagos, will start producing the sweetener in the second quarter of 2012, said Vlassis Liakouris, the company’s group treasurer. The refinery will have an initial...

    • Posted August 29, 2011
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  • Daily Stock News (Aug 29,2011)

    Today, the year to date market performance plunged further with a significant weight loss while equity market closed with the bears as investors’ appetite continued to dry-out with extended bearish sentiments dominating market activities. More so, the...

    • Posted August 29, 2011
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  • IFC invests 4.58 billion naira in GTBank

    The International Finance Corporation (IFC) has invested 4.58 billion naira in Nigeria’s Guaranty Trust Bank (GT Bank), one of the top five lenders by assets in sub-Saharan Africa’s second biggest economy, GT bank said on Monday. The...

    • Posted August 29, 2011
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  • NBC Shares on full Suspension, to be delisted on Sept 07, 2011

    The shares of Nigerian Bottling Company (NBC) Plc, bottlers of Coke, has been placed on full suspension following receipt of their application for delisting from the daily official list. The development means that there will be no...

    • Posted August 29, 2011
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