All posts by Afolabi Ogunde

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  NIgeria Cocoa Output to Decline 20% due to Heavy Rains

  Olam International, the Agriculture trading company based in Singapore which recently acquired Titanium holdings, the largest producer of biscuits and sweets in Nigeria has stated that the cocoa output this season may decline by 20% due to...

  • Posted February 14, 2012
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  Nigeria Stock Exchange Watch: Fifth Consecutive Day of Decline

  The Nigerian Stock Exchange began the seventh week of the year on a negative note as the All Share Index slumped by 19 points to close at 20,583.61. The banking sub-sector was the only indice to record...

  • Posted February 13, 2012
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  Obama Budget Proposes Doubling Dividend Tax on Wealthy, Implementing Buffett Rule

  President Barack Obama’s budget plan calls for taxing dividends received by high-income taxpayers as ordinary income, raising the top rate to 39.6 percent from 15 percent. The proposal, in the president’s fiscal 2013 budget released today, would reverse...

  • Posted February 13, 2012
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  Nigerian naira eases on importer demand for dollars

  The Nigerian naira eased slightly against the dollar on the interbank market on Monday after dollar demand from importers put pressure on foreign currency liquidity, dealers said. The naira ended at 159.20 to the dollar, weakening from...

  • Posted February 13, 2012
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  Pirates kill captain, chief engineer in Nigeria ship attack

  Pirates shot dead the captain and the chief engineer on a cargo ship off the coast of Nigeria on Monday, an International Maritime Bureau (IMB) official said, the latest in a string of attacks on vessels off...

  • Posted February 13, 2012
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  61% of Nigerians are Living in Poverty – National Bureau of Statistics

  According to a report released today by the National Bureau of Statistics, 61% of Nigerians are living in poverty. The report entitled “Nigeria Poverty Profile Report 2010” was crafted from a Harmonised Nigeria Living Standard Survey (HNLSS) and supported...

  • Posted February 13, 2012
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  GE not constructing power plants in Nigeria – Power Ministry

  According to a statement from the Ministry of Power, General Electric will not be constructing power generation plants in the country. The Minister’s office released a statement in order to clarify misleading media reports that stated GE...

  • Posted February 13, 2012
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  CBN Inaugurates New Committee to Tackle Electronic Money Fraud

  In order to mitigate the flow of electronic fraud forecasted to follow the introduction of Cashless Nigeria, the Central Bank of Nigeria (CBN) has inaugurated a new committee baptized the Automated Teller Machine Fraud Prevention Committee. The...

  • Posted February 13, 2012
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  Greece’s parliament passes new austerity deal amid riots

  Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after riots in Athens and other cities left stores looted and burned and more than 120 people...

  • Posted February 13, 2012
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  Law Union & Rock Insurance Acquired by Consortium

  One of the blue-chip insurance companies operating in the country, Law Union & Rock Insurance Plc has been acquired by a consortium comprising of Alternative Capital Partners (ACAP) and Swede Control Intertek Limited. The consortium purchased Skye...

  • Posted February 13, 2012
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