All posts by Afolabi Ogunde

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  Panel Dismisses NCAA’s $235 Million Fine Against British Airlines despite Evidence of Guilt

  The Justice Oguntade led panel instituted by the Nigeria Civil Aviation Authority (NCAA) to determine the veracity of the $235 million fine imposed on British Airways and Virgin Atlantic for price fixing and exorbitant Passenger Fuel Surcharges...

  • Posted February 10, 2012
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  PENGASSAN Justifies DPR’s N27 million per Employee Compensation Budget

  Following the recent revelations concerning the nature of the Department of Petroleum Resources (DPR) N30 billion compensation budget, senior members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have sought to justify the...

  • Posted February 10, 2012
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  FG Seeks $600 million Interest Free Facility from Islamic Development Bank (IDB)

  The Federal Government has revealed it is seeking US$600 million or N 93 billion in fresh loans from the Islamic Development Bank (IDB). The loans are to be applied to developmental projects in the country especially centered...

  • Posted February 10, 2012
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  Nigeria Stock Exchange Watch: Bearish Sentiments Linger as Market Spirals Downwards

  Selling pressure contributed to ensuring the market continued its downward spiral for the third consecutive day in a row. The Nigerian Stock Exchange shed 0.3% in today’s trading causing the All Share Index to settle at 20,631.38....

  • Posted February 9, 2012
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  International Breweries Q3, 11 Result: Net Income Up 598%

  International Breweries Plc released its Q3, 2011 results on the floor of the Exchange today reporting a net income that was up by 598% from the same period last year. The company had recorded a loss of...

  • Posted February 9, 2012
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  African Farming Needs Business Approach – Minister of Agriculture

  Following are comments by Nigerian Agriculture Minister Akinwumi Ayo Adesina made at the “Feeding the World” meeting organized by Economist Conferences in Geneva yesterday. “The potential is there, but you can’t eat it. Agriculture is not a...

  • Posted February 9, 2012
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  Singaporean Olam International Acquires Nigerian Titanium Holdings for $ 167 Million

  Singaporean based Olam International disclosed to regulatory authorities in Singapore that is has acquired Nigerian based Titanium Holdings for US$ 167 million or NGN 26.7 billion. Titanium Holdings is Nigeria’s largest biscuit and sweets manufacturer controlling about...

  • Posted February 9, 2012
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  FAAC’s N559bn injection pushes fixed income market to positive

  The Nigerian bond market was full of activities last week, as traders hastened to take advantage of key decisions of the monetary policy committee meeting and the huge monthly in-flow from the Federal Accounts Allocation Committee (FAAC),...

  • Posted February 9, 2012
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  DPR’s N 30 billion Compensation Controversy: Senate Calls for Employees Register

  After receiving startling revelations last week concerning the 2012 fiscal year N 30 billion compensation budget of the Department of Petroleum Resources (DPR), the Senate Committee on Petroleum Resources (Downstream) has ordered the DPR to submit its...

  • Posted February 9, 2012
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  Former Finance Minister Idika Kalu Drafted to Lead National Refineries Task Force

  Former Finance Minister and foremost economist, Kalu Idika Kalu,  has been drafted by the Federal Government to lead the National Refineries Task Force (NRTF). According to a statement released by the Ministry of Petroleum, the Refineries Task Force is...

  • Posted February 9, 2012
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