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  • Bank of Agriculture injects N1billion to micro finance banks in remote areas

    TO fast track access to finance in rural parts of the country, the Bank of Agriculture has injected N1billion for on-lending to micro finance banks in remote areas. The National Project Co-ordinator for Rural Finance Institution building...

    • Posted October 18, 2011
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  • Airtel Nigeria to raise investments in infrastructure to $1billion

    Airtel Nigeria has revealed plans to raise its investments in networks and information technology infrastructure in the country to $ 1 billion by the end of March 2012. The move, according to the company, was part of...

    • Posted October 18, 2011
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  • Review allocation formula before removing fuel subsidy – Tinubu

    Action Congress of Nigeria (ACN) national leader, Asiwaju Bola Tinubu yesterday asked the Federal Government to obey the five-year review of revenue allocation formula in line with the Constitution as a pre-condition for removal of oil subsidy....

    • Posted October 17, 2011
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  • All Share Index Comes Out Swinging, Up 1.01%

    The All Share Index commenced the week on a positive note appreciating by 1.01% to close at 20,071.36. Winners in the banking sector included Diamond (+4.95%), Sterling (+3.82%), FCMB (+3.75%), GTB (+2.38%). First Bank, Skye Bank and...

    • Posted October 17, 2011
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  • Spectranet Nigeria launches Wireless Broadband on its 4G network

    Broadband Penetration in Nigeria has received a boost with launch of the latest fourth generation Wireless Broadband Services by Spectranet Nigeria Limited on its 4G network. Speaking at the official product launch of the network, the Chief Operating...

    • Posted October 17, 2011
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  • Depositors Loss In Failed Banks amounts to N187.23bn

    A total of N187.23 billion was lost by over 2.7 million depositors as a result of poor corporate governance that led to the liquidation of 46 banks by the Nigeria Deposit Insurance Corporation (NDIC) from 1994 to...

    • Posted October 17, 2011
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  • Skye Bank 3Q Results Released

    Skye Bank has released its unaudited 3Q result posting a 10.8% growth in Earnings from N 66.2 Billion in Q3 2010 to N 73.3 Billion. Net profit was also up 9.5% to N 9.4 Billion from N...

    • Posted October 17, 2011
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  • Dollar Demand Wanes at CBN Auction, Naira Strengthens

    The Naira strengthened today at the CBN auction due to unusually low demand for the US Dollar. Demand for the greenback fell approximately 50% from $592 Million at the last auction to $297 Million, far below the...

    • Posted October 17, 2011
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  • AP Moller Maersk Planning Yuletide $130 Million Investment In Nigeria

    Danish super shipping firm AP Moller-Maersk has indicated it sees enormous potential in Nigeria and plans to increase its investment in the country substantially. According to head of Maersk Line in Central and West Africa, David Forest,...

    • Posted October 17, 2011
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  • World News You Don’t Want to Miss [17-Oct-2011]

    Asian markets were mostly up in overnight trading with the Nikkei rising 1.5%. Europe and the US were both much higher, but have completely reversed course after leaders downplayed expectations of a big solution coming next weekend. German finance minister Wolfgang Schaeuble...

    • Posted October 17, 2011
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