All posts by BusinessNews Staff

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  NCC raises panel to review telecom service quality

  The Nigerian Communications Commission has set up a nine-member task force to proffer solutions to the declining quality of service in the telecommunications sector. It said on Sunday that the new NCC Executive Vice-Chairman, Prof. Umar Danbatta,...

  • Posted August 25, 2015
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  Biya, Osinbajo to formally open Dangote Cement Plant in Cameroun

  President of Cameroun, Paul Biya and Nigeria’s Vice-President, Professor Yemi Osinbajo, are expected to lead the top echelon of the public and private sector operators in both Cameroun and Nigeria to the formal inauguration of Dangote Group’s...

  • Posted August 25, 2015
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  GTBank posts N63billion profit before tax in six months

  Guaranty Trust Bank (GTBank) Plc has reported gross earnings of N153 billion for the half year ended June 30, 2015.  The performance showed an increase of 15 per cent above theN133 billion recorded in the corresponding period...

  • Posted August 25, 2015
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  Investor apathy greets Flour Mills’ N30billion rights issue

  As Flour Mills of Nigeria Plc prepares to raise fresh capital from existing shareholders through a rights issue, THISDAY checks revealed that some of the shareholders would not take up their rights.  Some of the shareholders who...

  • Posted August 25, 2015
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  Abia State targets N18bn in annual IGR

  Abia State Government is targeting an annual Internally Generated Revenue of N18bn, as the state’s new administration steps up efforts to plug leakages and increase its revenue profile. Declining global oil prices have forced many state governments...

  • Posted August 25, 2015
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  Forte Oil cuts ties with errant petrol stations

  Forte Oil Plc (formerly AP Plc) on Sunday said it had terminated the contracts between it and four franchised filling stations, which were sealed by the Department of Petroleum Resources at the weekend for manipulating their dispensing...

  • Posted August 25, 2015
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  Analysts expect banks to record strong performances

  Contrary to expectations that regulatory and economic headwinds will hit banks hard this year by stifling their performance, there are strong indications that 2015 will end on a positive note for most banks. Several banks have reported...

  • Posted August 25, 2015
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  Banks risk losing N36.4bn to Afren exposure

  Nigerian banks, exposed to Afren Plc to the tune of about N36.4bn ($185m), may lose part of the funds due to the liquidity challenges faced by the oil and gas firm. A report by Renaissance Capital stated...

  • Posted August 24, 2015
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  Why we’re yet to roll out metering programme in South East – EEDC

  The Enugu Electricity Distribution Company (EEDC) said on Sunday in Enugu that it has earmarked N25billion for investment in Geographic Information System (GIS) and enumeration of customers and assets in its licence area, the south-east zone. The...

  • Posted August 24, 2015
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  450MW Azura IPP gets FG, World Bank $237m guarantee

  The federal government has finally signed its backing of a $237 million World Bank Partial Risk Guarantee (PRG) for the construction of the 450 megawatts (MW) Azura-Edo Independent Power Plant (IPP). The government by this development has...

  • Posted August 24, 2015
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