All posts by Afolabi Ogunde

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  Over Reliance on oil Responsible for Unemployment

  Over reliance on crude oil is said to be the cause of unemployment, poverty, kidnapping, militancy, and terrorism in the country. The declaration was made by the Chief Executive Officer, Koinonia Ventures Limited Femi Boyede, he said,...

  • Posted October 18, 2012
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  Angola Starts Sovereign Wealth Fund With $5 Billion

    Angola, Africa’s second-biggest oil producer, is starting a sovereign wealth fund with $5 billion in assets to ease the impact of commodity price volatility that prompted an International Monetary Fund loan three years ago. The Fundo Soberano...

  • Posted October 18, 2012
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  Cocoa Harvest Starts as Rains, Disease Threaten Yield

    Cocoa farmers in Nigeria, the world’s fourth-largest producer of the chocolate ingredient, have started the harvest for the 2012-2013 season with yields threatened by flooding. Many cocoa farms are submerged in water, leading to high humidity...

  • Posted October 18, 2012
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  Pension Funds to hit N3 trillion by Year End

    Pension funds assets in the country are expected to hit N3 trillion by the end of the year. The funds currently stand at N2.94 trillion under the contributory pension scheme. Director-General of the National Pension Commission, Muhammad...

  • Posted October 18, 2012
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  Fuel Subsidy Fraud: Reps Summon 42 Marketing Companies

  The House of Representatives has called upon subsidy-entwined firms to give account on how they managed the subsidy bridging funds.   A total number of 42 oil-marketing firms have been summoned by the house through its Committee...

  • Posted October 18, 2012
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  Asset Manager Docked Over Alleged N41m Theft

  Mrs. Ibukun Adebayo Adedayo, a 30-year-old nursing mother, a stockbroker/asset manager, and a medical doctor, has been accused of stealing N41 million and brought forward by the Economic and Financial Crimes Commission, EFCC before an Ikeja High Court....

  • Posted October 18, 2012
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  Nigeria opens museum to “Afrobeat King” Fela Kuti

  When he was alive, Fela Kuti electrified Nigerians and many music lovers the world over with his hip-shaking and strangely hypnotic blend of jazz, funk and West African folk rhythms. His legendary sexual exploits with dozens of...

  • Posted October 17, 2012
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  Nigeria to award fixed telecom licences early next year

    Nigeria will award new licences to provide fixed-line internet services early next year as Africa’s most populous country aims to transform its underdeveloped and unreliable network. Nigeria is forecast to have 120 million mobile subscribers by...

  • Posted October 17, 2012
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  GTBANK’S ONLINE CHANNELS RECEIVE INTERNATIONAL CERTIFICATION

    (Lagos, Nigeria) The integrity of Guaranty Trust Bank’s alternative banking channels received a boost recently with the Bank’s receipt of the Payment Card Industry Data Security Standard certification (PCIDSS).   PCIDSS certification is a worldwide security standard...

  • Posted October 17, 2012
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  PenCom Re-evaluates Investment Regulation, Introduces Four Funds

    The National Pension Commission (PenCom) has re-evaluated its investment guideline to allow the introduction of different types of funds capable of affording improved yields, which is meant to improve the earnings on pension fund contributions.  ...

  • Posted October 17, 2012
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