All posts by Afolabi Ogunde

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  Earnings Analysis: Diamond Bank’s N 11.2 billion Loss in 2011

  Diamond Bank recently reported an N 11.2 billion loss reflecting a difficult operating environment in 2011. The loss was primarily due to the fact that the company had to increase it provisions for losses by 93% to...

  • Posted April 2, 2012
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  NDIC Pays N 2 billion to Compensate 71,000 MFB Depositors

  The Nigerian Deposit Insurance Corporation (NDIC) has concluded plans to disburse N 2 billion to 71,000 depositors in over 103 failed microfinance banks across the country. Alhaji Umaru Ibrahim, Managing Director of NDIC, disclosed this over the...

  • Posted April 2, 2012
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  JMR Infotech expands reach through its new office in West Africa

  Nigerian arm demonstrates the company’s expansion into key emerging markets JMR Infotech, formerly known as TRASSET Services Group, on 26 March, 2012 announced the opening of its subsidiary in Nigeria, West Africa, as part of the company’s...

  • Posted April 2, 2012
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  President Jonathan Violated Code of Conduct Act in Accepting Gift from Gitto

  President Jonathan has come under fire from anti-corruption watchdogs for accepting a gift from a major construction company, Gitto Costruzioni Generali Nigeria Ltd. Gitto is an Italian owned company that grew from marble supply  in the late...

  • Posted April 2, 2012
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• The Path To Financial Independence

  One day I hope to take that dream vacation. First on my list is a tour in Europe’s finest cities, starting from the western cities of London, Manchester,Dublin into Paris, Brussels, Amsterdam, Oslo, Zurich etc. I just...

  • Posted April 1, 2012
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  Perm Sec, other N32 billion Pension Fraud Suspects Remanded to Kuje Prison

  A Federal permanent secretary, two directors and three other officials have been remanded in prison custody after they were charged yesterday with criminal breach of trust in respect of N32.8 billion pension funds between 2009 and 2011....

  • Posted March 30, 2012
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  99% of CBN’s N200 billion Manufacturers’ Intervention Fund Disbursed

  Risk Management Division, Bank of Industry, Mr. Kola Adewole has disclosed that over 99% of the N 200 billion intervention fund set aside for manufacturers in the country had been disbursed. The CBN set aside the money...

  • Posted March 30, 2012
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  Africa Finance Corporation (AFC) Invests N8 Billion in Kenyan Cement Manufacturer

  The Africa Finance Corporation, Nigeria’s leading development financial institution, has invested the sum of $50 Million in Athi River Mining (ARM). ARM is the second largest cement manufacturer in Kenya by way of production quantity. The company...

  • Posted March 30, 2012
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  Stanbic IBTC Records 21% Drop in Profit in FY2011 Results, Proposes 10k Dividend

  Stanbic IBTC released its audited results today reporting a 21% drop in profits and a 10 kobo dividend. This is definitely not what its shareholders had in mind, however 2011 was all in all, a difficult economic...

  • Posted March 29, 2012
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  Ondo may emerge 1st State to Have Uninterrupted Power as Mimiko Plans for 50MW Plant in Ore

  The Ondo State Government has indicated that it is committed to building a 50 Megawatt power plant in Ore town in order to boost the industrialization of the state as well as to add to the National...

  • Posted March 29, 2012
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