All posts by admin

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  PT Pertamina Bought Nigerian Qua Iboe and Escravos Crude Oil Cargoes

  PT Pertamina, Indonesia’s state oil company, bought two cargoes each of Nigerian Qua Iboe from Gunvor SA and Escravos crude from Vitol Group, according to four people who participate in the West African crude market. The shipments are...

  • Posted July 14, 2011
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  PGI Energy in Partnership to Build Power Plant In Nigeria

  PGI Energy, an energy holding company, headquartered in Houston, Texas, today stated in a letter to shareholders that ” they have entered into partnership with J & L INSTRUMENTATION & POWER, LLC AND KNOX J & L ENERGY...

  • Posted July 14, 2011
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  Emirates Seals Deal with Arik Air

  Dubai’s Emirates Airline has signed an agreement with Nigerian carrier Arik Air which will allow Gulf passengers to book onward flights to destinations across West Africa in a single booking, the airline said Wednesday. Under the agreement,...

  • Posted July 13, 2011
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  Naira Weakens at Central Bank Auction

  Nigeria’s naira weakened at a central-bank auction today, snapping five straight increases as lenders demanded the most foreign currency in five sales. The marginal rate, which is used as the prevailing exchange rate, fell to 150.08 per...

  • Posted July 13, 2011
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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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  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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• 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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