All posts by Afolabi Ogunde

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  IFC Deploys $70 Million Capital to Diamond Bank

  The Washington D.C. based International Finance Corporation (IFC) has made US$70 million available to Diamond Bank at a rate just over 6%. The funds is an investment by IFC and takes the form of a convertible subordinated...

  • Posted August 9, 2012
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  Nigeria Stock Exchange Watch: Index Dips Further, Shedding 0.96%

  The All Share Index shed 0.96% today as Dangote Cement caved in to supply-side pressure and dropped 3.8% to close at N114. The banking sub-sector was the only sub-index to appreciate in the session as it picked...

  • Posted August 8, 2012
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  Uduaghan Comes Clean on Ibori’s Sins

  The present Governor of Delta State, Emmanuel Uduaghan, has made a veiled admission to the fact the former Governor of Delta State and his blood relation, James Ibori was a serial looter. Although Uduaghan did not state...

  • Posted August 8, 2012
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  How to Network Yourself into an Investment Bank (part 1)

  Above all else, building a cache of contacts helps your career in direct and indirect ways. Five pointers on networking: 1. Attend networking events and aim to leave with about two business cards.  Don’t stretch yourself thin...

  • Posted August 8, 2012
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  Canada Condemns Attack on Deeper Life Church

  OTTAWA, Canada, August 8, 2012/African Press Organization (APO)/ –Foreign Affairs Minister John Baird today issued the following statement: “I am deeply saddened by the cowardly murder by gunmen of parishioners who were gathered in worship at a church...

  • Posted August 8, 2012
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  Q2, 2012 Earnings: ConOil Net Income Slumps by 81%

  ConOil, an indigenous petroleum marketing company, released its q2, 2012 to the Nigerian Stock Exchange on Monday. Turnover fell by 4.6% to N 76.2 billion, from N 79.9 billion recorded in Q2, 2011. Gross Profit dipped 18.4%...

  • Posted August 8, 2012
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  Gold Snaps Three-Day Advance As Dollar’s Strength Damps Demand

  Gold dropped for the first time in four days as the metal’s advance to a one-week high encouraged sales and as the dollar’s strength sapped demand for bullion as an alternative investment. Silver declined. Spot gold lost...

  • Posted August 8, 2012
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  Clearing Cheques Now Takes Two Days in Lagos

  Cheque Truncation is to take two days in Lagos. Truncation refers to the conversion of physical cheque into electronic form (i.e. scanned image) for transmission to the paying bank. The processing time which used to be T+2...

  • Posted August 8, 2012
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  CBN Mandates Whistle-Blowing and Reviews Corporate Governance Code

  In an attempt to improve corporate governance within the Nigerian Banking industry, the Central Bank of Nigeria is reviewing the existing codes of corporate governance and has developed guidelines for whistle-blowing which all financial institutions under the Central Bank’s supervision...

  • Posted August 8, 2012
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  Power Supply Hits Record 4327 MegaWatts

  The Federal Minister of Power, Barth Nnaji, has faced a lot of criticism as he is in charge of one of the most sensitive portfolio’s in President Jonathan’s cabinet. However Nnaji announced yesterday that Nigeria is currently...

  • Posted August 8, 2012
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