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  • MC Endeavors, Inc. Signs Partnership with FDL Nigeria for MCE-LBI Renewable products

    MC Endeavors Inc. has inked a strategic partnership with Fiscal Dynamics Ltd. for distribution of MCE-LBI Renewable products throughout the Six (6) Geo-Political Zones of the Federal Republic of Nigeria. Lagos State, Nigeria-based Fiscal Dynamics has been...

    • Posted September 7, 2011
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  • Lagos Rail: Refurbised Toronto Subway Cars bound for Lagos

    Just as the new Toronto Rocket trains start rolling in the subway tunnels, the TTC’s old cars are about to start moving right out of the city. A company called Eko Rail has a deal to buy...

    • Posted September 7, 2011
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  • Stanbic IBTC granted Mobile Payment Licence

    The Central Bank of Nigeria (CBN) has granted a licence to Stanbic IBTC Bank, a member of Standard Bank Group, to operate mobile payment services in the country, a development that will give further impetus to Nigeria’s drive towards a cashlesseconomy. The bank...

    • Posted September 6, 2011
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  • Lagos-Ibadan Expressway: Bi-Courtney to build 14 pedestrian bridges

    Bi-Courtney Highway Services Nigeria Ltd. said on Tuesday that it would to ease crossing after the reconstruction of the Lagos-Ibadan Expressway. Mr Dipo Kehinde, the company’s spokesman, who disclosed in Lagos, said the bridges would make crossing...

    • Posted September 6, 2011
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  • Afribank, Bank PHB, Spring Bank Delisted From Stock Exchange

    Afribank Plc, Bank PHB Plc (PLATINUM) and Spring Bank Plc (SPRINGBK), lenders that Nigeria nationalized last month, were delisted from the country’s bourse on Aug. 5, the Lagos- based stock exchange said in a statement on its website today....

    • Posted September 6, 2011
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  • Nigeria’s Declining Global Competitiveness [Editorial]

    The World Economic Forum, an independent international organization in its global competitiveness ranking shows that Nigeria’s competitiveness dropped from 99 in 2010 to 127 in 2011, in a survey of 139 countries undertaken. The poor rating was...

    • Posted September 6, 2011
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  • Naira loses 41 kobo at WDAS

    The naira weakened to N152.81 to the dollar on the official market (Wholesale Dutch Auction System) yesterday, down from N152.40 to the dollar at Friday’s close. The naira, which is exchanged at N148.18 at the beginning of...

    • Posted September 6, 2011
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  • IFC Invests $10.5m in Interswitch to Expand Financial Service

    IFC, a member of the World Bank Group, announced today an investment of $10.5 million in electronic payments company Interswitch Limited to help consumers at all income levels in Nigeria and other parts of Africa gain improved,...

    • Posted September 6, 2011
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  • Sofialys Partners with Terragon Nigeria for Mobile Advertising in Africa

    Sofialys, Europe’s leading Mobile Marketing company is pleased to announce that it has inked a partnership with top Nigerian New Media Group Terragon Limited, in a bid to expand its global presence. Under the terms of the...

    • Posted September 5, 2011
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  • CBN to hold 5-10 pct of forex in Chinese yuan

    Nigeria’s central bank is diversifying its foreign exchange reserves away from the U.S. dollar and will hold between 5 to 10 percent of them in Chinese yuan, central bank governor Lamido Sanusi told CNBC news on Monday....

    • Posted September 5, 2011
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