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All posts by Afolabi Ogunde

  • Auditor General Probes Lawmakers on N 24 billion Expenditure

    Lawmakers are to explain how N24.8bn  government funds they collected were spent, the Auditor-General of the Federation has said. To make clarifications are 313 House of Representatives members who collected from the consolidated Revenue Funds N19.9bn in...

    • Posted May 21, 2012
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  • Crude Oil Falls For A Seventh Day In Longest Decline Since 2009

    Oil dropped for a seventh day, the longest run of declines in more than two years, after Saudi Arabian crude output rose to close to a 31-year high and money managers reduced bullish bets on the commodity....

    • Posted May 21, 2012
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  • Soludo Warns Against Stripping CBN of Autonomy

    The immediate past Governor of the Central Bank of Nigeria, Professor Chukwuma Soludo has warned lawmakers of the dire consequences of stripping the Central Bank of Nigeria of its autonomy. Speaking at a dinner organized by the...

    • Posted May 21, 2012
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  • N 3.6 billion for 6 Generators!: Do Delta State Generators Run on Ace of Spades?

    The Delta State Commissioner of Power and Energy, Charles Emetulu has disclosed that the Uduaghan administration expends N 75 million on diesel monthly to power street lights in Asaba and Warri. However analysts are in an uproar...

    • Posted May 20, 2012
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  • Naira Gains First Day In Two Weeks As Bank Sells Dollars

    The naira strengthened for the first time in two weeks after Nigeria’s central bank sold the most dollars in almost two months to support the country’s currency. The currency of Africa’s largest oil producer appreciated 0.1 percent to 158.80...

    • Posted May 18, 2012
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  • EFCC Arrest Oil Bunkerers with 1 million liters of Diesel

    The EFCC has taken into custody an oil bunkering vessel and its crew. The arrest was made by the Nigerian Navy and forwarded to EFCC officials yesterday. Head of Media and Publicity, Mr. Wilson Uwujaren, said in...

    • Posted May 18, 2012
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  • NAFDAC on Cassava Flour Campaign Drive

    National Agency for Food and Drug Administration and Control (NAFDAC) boss, Paul Orhii as called on bread production companies to substitute wheat flour for cassava flour in the production of bread and pastries. Orhii speaking at the...

    • Posted May 18, 2012
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  • Ogun State Attracts FDI from 30 firms across several sectors

    The Ogun State government has shortlisted 30 reputable investors from over 400 who signified their intention to invest in the economy of the state. Bimbo Ashiru, the Commissioner for Commerce and Industry disclosed this whilst speaking at...

    • Posted May 18, 2012
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  • Nigeria is not broke – Okonjo-Iweala

    The Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo Iweala has said that there is no financial crisis in the country. The minister disclosed this to a delegation of members of the House Committee...

    • Posted May 18, 2012
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  • Canadian company Horn Petroleum finds more Oil in Somalia

    Horn Petroleum Corp confirmed the presence of oil at its Shabeel well in the Dharoor Valley basin of Somalia’s Puntland. “We are highly encouraged with these early results which indicate oil bearing sands in possibly two zones,”...

    • Posted May 17, 2012
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