All posts by Afolabi Ogunde

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  CBN Announces Incentives to Nigerians on Cashless Policy

  The Central Bank has announced plans to incentivize Nigerians to embrace e-payment methods. The apex bank disclosed in a statement released Friday, that customers will not incur any service charges for using Point of Sales (POS) terminals....

  • Posted January 23, 2012
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  Fed Drops Bomb on Megaupload, Assets Seizure Pictures etc

  The media spotlight on the internet company Megaupload by the International media has been significant for a reason. The FBI has charged seven people and two corporations associated with the site, Megaupload with copyright infringement. According to...

  • Posted January 21, 2012
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  Nigerian Stock Exchange: Market Sustains Further Losses into Weekend

  The Nigerian Stock Exchange succumbed to further sell-side pressure as the bears caused the Index to drop 0.44%. The market capitalization of the bourse also reduced by a similar margin and it currently stands at N 6.56...

  • Posted January 20, 2012
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  Bacon’s Nude Model May Fetch $30 Million

  A 1963 female nude by Francis Bacon may raise as much as $30 million at an auction next month. Bacon’s sexually charged “Portrait of Henrietta Moraes,” showing one of his favorite models sprawled across a bed, has a formally...

  • Posted January 20, 2012
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  New Electricity Tariffs Coming Next Month

  As part of the ongoing reform in the power sector, a new electricity tariff, which targets an increase of between 50 and 100 per cent to the current tariff, will be out by next month, contrary to...

  • Posted January 20, 2012
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  Goldman Sachs Employees Share 8 Billion Sterling in Bonuses, Down from Last year

  Goldman Sachs‘ total pay packet including bonuses was 21 per cent lower than in 2010, with staff earning an average of £239,000 each. However, the American investment bank, which employs 33,300 people, 5,300 in the UK, saw...

  • Posted January 20, 2012
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  Sectorial Breakdown of Losses Strike Caused the Economy -National Bureau of Statistics

  The National Bureau of Statistics released an in-depth report on its website in order to account for the losses the Nigerian economy experienced during the nationwide strike that lasted just over a week. According to the NBS,...

  • Posted January 20, 2012
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  CSCS introduces New Pricing Regime

  The Central Security Clearing Systems has introduced a new fee regime for its services. According to a circular on its website entitled, REVIEW OF CSCS PRODUCT/SERVICE CHARGES EFFECTIVE, the new fees are payable on transactions from January...

  • Posted January 20, 2012
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  Beyond PHCN, Power Minister makes bold Transformation Moves

  The Minister for Power, Professor Barth Nnaji, has been a busy man. Beyond the mere rhetoric and lip service applied by many government ministers in bringing about transformation, the Professor has gone a step further in order...

  • Posted January 20, 2012
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  EFCC Joint Task Force Ends N 151 billion Pension Fraud

  A joint task force of forensic experts from the Economic and Financial Crimes Commission (EFCC) and the Pensions Reform Task Force has revealed a N 151 billion fraud ongoing in pension offices across the country. The Chairman...

  • Posted January 20, 2012
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