All posts by Afolabi Ogunde

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  Shell sells three Nigerian Onshore Oil Blocks

  Royal Dutch Shell’s Nigeria operation is working on selling three oil blocks in its latest move to divest some onshore assets, a spokesman said on Friday. Shell has been winding down some of its onshore operations to...

  • Posted June 18, 2012
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  Dangote Reinstated as President of the Nigerian Stock Exchange

  Alhaji Aliko Dangote has been reinstated as the President of the Nigerian Stock Exchange following a ruling by the Court of Appeal sitting in Lagos last Friday. Shareholders of Forte Oil (formerly AFrican Petroleum) had petitioned the...

  • Posted June 18, 2012
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  CBN Ordered to Pay Interstella Communications $ 117.4 Million

  A federal high court sitting in Umuaia has ordered the Central Bank of Nigeria to pay Interstella Communications Ltd $117.4 million. The high court ordered the CBN to debit the accounts of the Federal Government  in order...

  • Posted June 18, 2012
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  N 1 trillion Spent on Recurrent Expenditure in First Half 2012 , Mostly on Subsidy Payments

  The accountant general, John Otunla, disclosed to journalists yesterday that of the N 1.44 trillion in government expenditure in the first six months, N 1.04 trillion was on recurrent expenditure. He also stated that the majority of...

  • Posted June 15, 2012
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  SEC Board Disbanded, Bolaji Ibrahim Bello Named Acting DG | Oteh may resume in 2 weeks

  The minister of finance, Okonjo Iweala disclosed that the Presidency had approved the appointment of the current Director of Finance and Administration, Mr. Bolaji Ibrahim Bello as the new Acting Director General of the Securities and Exchange...

  • Posted June 15, 2012
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  Five million farmers to receive FG’s support

  FIVE  million farmers are to benefit from the Federal Government’s Growth Enhancement Support Scheme (GES) this year, Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina, said. The minister made the disclosure yesterday, in Abuja, while briefing...

  • Posted June 15, 2012
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  DANA Air Crash Investigators Assess Possible Fuel Contamination

  The Accident Investigation Bureau (AIB) and National Transportation Safety Board (NTSB) have shed their spotlight on the Jet Fuel used by the ill-fated Dana air craft and Dana’s airline in general in order to determine if contaminated...

  • Posted June 15, 2012
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  Nigerian Stock Exchange Watch: Banks sell off causes ASI to retreat

  The All Share Index shed 22 basis points as a sell of in banking stocks and low demand levels caused the market to fall. Most top-tier banks GTBank (-0.99%), Zenith (-1.11%),  and First Bank (-0.85%) retreated, as...

  • Posted June 14, 2012
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  Oil Rebounds From Eight-Month Low Before OPEC Meeting

  Oil rebounded from the lowest close in eight months in New York amid speculation that declines were excessive as OPEC meets to discuss production quotas. Futures rose as much as 0.5 percent, after earlier falling for the fifth time...

  • Posted June 14, 2012
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  Naira Declines On Bets Of Further Weakening

  The naira retreated as speculation Nigeria’s currency would weaken further offset the biggest sale of dollars in four months. The currency of Africa’s top oil producer fell as much as 0.9 percent to 164.20 per dollar in theinterbank...

  • Posted June 14, 2012
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