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All posts by Afolabi Ogunde

  • ‘MTN is the only Profit Making Telco’ – NCC

    The Executive Vice-Chairman of the Nigerian Communications Commission (NCC), Dr. Eugene Juwah, stirred up some controversy yesterday when he disclosed to lawmakers that MTN is the only profit making telecommunications company in the country. Juwah disclosed this...

    • Posted July 18, 2012
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  • AfDB approves USD 60 million loan for expansion of Takoradi II thermal power plant in Ghana

    The Board of Directors of the African Development Bank (AfDB) Group, through its private sector window, approved on Wednesday, 11 July 2012 in Tunis, a senior loan of USD 60 million for the expansion of the Takoradi...

    • Posted July 17, 2012
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  • President Jonathan Reconstitutes NNPC Board

    President Goodluck Jonathan has reconstituted the board of the Nigerian National Petroleum Corporation (NNPC) after it had been disbanded for several years. The new board is chaired by the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, and...

    • Posted July 17, 2012
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  • N 33 billion Pension Fraud: Court Orders 45 Mansions Seized, Bank Accounts Frozen

    Chief Judge of the Federal Capital Territory, Justice Lawal H. Gumi, Justice Lawal Gumi has granted the Economic and Financial Crimes Commission (EFCC) an interim order to seize 45 mansions belonging to former civil servants who are...

    • Posted July 17, 2012
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  • NNPC Bought $14 million Helicopter for Presidency, Gave Informal Loans

    As the results of an external audit on the Nigerian National Petroleum Corporation (NNPC) begin to filter into the media, it has been revealed that certain former administrations benefited unlawfully from funds owned by the Nigerian people...

    • Posted July 17, 2012
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  • Bonga Oil Spill: FG Orders Shell to Cough Up $ 5 Billion Fine

    The Federal government has fined Shell Nigeria Exploration and Production Company (SNEPCO) $ 5 billion for spilling oil at Bonga late last year. The oil spill affected communities, waterways and the coast. Shell has been accused by...

    • Posted July 17, 2012
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  • Naira falls as CBN fails to meet Dollar demand

    The naira depreciated after the Central Bank of Nigeria failed to meet accumulated demand for dollars at an auction today, having sold the lowest amount of the U.S. currency in more than two months last week. The currency of Africa’s...

    • Posted July 16, 2012
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  • Q2, 2012 Earnings: Skye’s Net Income Soars to N 8.1 billion

    Skye Bank, one of Nigeria’s mid-tier banks, transmitted its Q2, 2012 earnings to the Nigerian Stock Exchange today. The company reported gross earnings of N 59.65 billion, up 22% from N 48.9 billion over the same period...

    • Posted July 16, 2012
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  • Procter and Gamble to Build $250 million Plant in Ogun

    Procter and Gamble recently had the ground-breaking for their $ 250 million (N 43 billion) baby care factory in Agbara, Ogun State. The ground-breaking ceremony was attended by the Minister of Trade and Investment, Olusegun Aganga. The...

    • Posted July 16, 2012
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  • Is Dangote Group really Divesting from Food Business?

    The Dangote Group is one of Africa and indeed the world’s most formidable companies. Alhaji Aliko Dangote, after making his money from trade, delved into manufacturing and now sources close to the businessman claim agriculture is his...

    • Posted July 16, 2012
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