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All posts by BusinessNews Staff

  • Nigeria loses 1,500MW of electricity

    DESPITE claims by President Goodluck Jonathan that he had delivered on his promise to supply electric power to Nigerians, the total energy sent out to electricity consumers across the country as of February 17, 2015 stood at...

    • Posted February 24, 2015
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  • SEC’s rules on demutualisation restrict corporate raiders

    The Securities and Exchange Commission has restricted corporate raiders from hijacking the Nigerian Stock Exchange (NSE) during its planned demutualisation exercise. This is sequel to a rule that stipulates that no single entity/person or related entities are...

    • Posted February 24, 2015
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  • CBN steps up rescue package for naira, closes RDAS/WDAS Forex window

    At last, the Central Bank of Nigeria (CBN) in a move to avert the emergence of a multiple exchange rate regime and preserve the country’s foreign exchange reserves announced the closure of Retail Dutch Auction System (RDAS)...

    • Posted February 23, 2015
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  • Nigerians will soon enjoy regular electricity supply – Elumelu

    The Chief Executive Officer, Transcorp/Woodrock, the consortium that won the bid for Ugheli Power Plc, Mr. Tony Elumelu, on Thursday said with the signing of transaction and industry agreements for the Power Holding Company of Nigeria’s successor...

    • Posted February 23, 2015
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  • NERC inaugurates offices to handle electricity consumers’ complaints

    The Nigerian Electricity Regulatory Commission on Thursday inaugurated five forum offices to help in addressing complaints of electricity consumers across the country. The Chairman/Chief Executive Officer, NERC, Dr. Sam Amadi, while speaking at the induction of members...

    • Posted February 23, 2015
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  • Crash report: Bellview writes FG, US government

    Bellview Airlines has formally written to the Federal Government of Nigeria and the United States Government, expressing its disagreement with the crash report on the airline released by the Accident Investigation Bureau on Saturday. The investigation of...

    • Posted February 23, 2015
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  • Election fever, depreciating naira take toll on Lagos Ports

    Uncertainty over what would  be the outcome of next month’s general elections and depreciating value of the naira have forced importers to put a hold on  business, reports Francis Ugwoke In the past few months, the nation...

    • Posted February 23, 2015
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  • As Naira regains stability, experts fear slide may continue

    The Naira friday regained some of its footing after an indirect devaluation in the official exchange rate versus the dollar on Wednesday by the Central Bank of Nigeria. But analysts reckon that pressures against the naira will...

    • Posted February 22, 2015
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  • FG, States, LGs spend $8.26bn on NIPP projects

    The federal, states and local governments in the country have collectively spent $8.26 billion on power projects being built under the National Integrated Power Project (NIPP), through the Niger Delta Power Holding Company (NDPHC). Speaking on Friday...

    • Posted February 22, 2015
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  • New offers, listings on NSE unlikely now – Experts

    The poor start made to the year by the stock market is a major deterrent to companies considering listing on the Nigerian Stock Exchange or raising funds through rights issue, it has been gathered. According to experts,...

    • Posted February 22, 2015
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