All posts by BusinessNews Staff

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  Senate to pass PIB in 2014

  Indication emerged on Wednesday that the National Assembly will pass the Petroleum Industry Bill (PIB) later this year. The hint was given by both the Chairman, Senate Committee on Gas Resources, Sen. Nkechi Nwaogu and the Chairman,...

  • Posted March 20, 2014
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  CBN to sell treasury bills worth N313bn

  The Central Bank of Nigeria (CBN) said on Thursday it will sell N313.88 billion worth of treasury bills. The CBN posted the information on the sale of the treasury bills for the second quarter of the year...

  • Posted March 20, 2014
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  Nigeria to grow domestic gas consumption from 1.7bn to 5.4bn by 2019

  The Nigerian National Petroleum Corporation (NNPC) said it had put structures in place to grow the domestic gas consumption from 1.71 billion cubic feet to 5.4 billion per day by 2019. The Group Managing Director of NNPC,...

  • Posted March 19, 2014
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  NCC says three telecom operators paid N647m fines for poor services

  The Nigeria Communications Commission (NCC) said on Tuesday that the three telecommunication firms that were fined N647.5 million over poor services have paid. Head, Media & Public Relations, NCC, Mr Reuben Muoka, confirmed this in a telephone...

  • Posted March 19, 2014
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  Trading opens for the week on a bearish note

  Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a bearish note as transactions dropped both in value and volume terms. The value of shares traded dropped by 35.47 per cent, while...

  • Posted March 17, 2014
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  AMCON ready to recover Tinapa’s debt

  The Asset Management Corporation of Nigeria (AMCON) plans to send representatives to Tinapa Business and Leisure Resort to recover debts owed it, an official said. The AMCON spokesman, Mr Kayode Lambo, told the News Agency of Nigeria...

  • Posted March 14, 2014
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  Police re-arraigns former Gulf Bank MD, 7 others over N12bn fraud

  The police in Lagos on Friday re-arraigned a former Managing Director of the defunct Gulf Bank Plc, Johnson Adeyeba, and seven others over alleged N12 billion fraud. The accused re-appeared before Justice Mohammed Yunusa of a Federal...

  • Posted March 14, 2014
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  Investors stake N1.8bn on 367million shares on NSE

  Investors on Thursday staked N1.82 billion on 367.193 million shares in 4,002 deals on the Nigerian Stock Exchange (NSE), the News Agency of Nigeria (NAN) reports. This was in contrast to the 281.637 million shares worth N3.12...

  • Posted March 13, 2014
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  FIRS unveils new tax regime for multinational companies

  The Federal Inland Revenue Service, (FIRS), on Thursday, unveiled a new tax assessment system that would ensure proper taxation of multinational companies and enterprises operating in the country. The Acting Executive Chairman of FIRS, Mr Kabir Mashi,...

  • Posted March 13, 2014
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  NCC confirms payment of N3.63bn bid price for 2.3GHZ spectrum licence by Bittflux

  The Nigerian Communications Commission (NCC) has confirmed that Bitflux, winner of 2.3GHZ spectrum licence, has paid the N3.63 billion ($23.25 million) bid price for the licence. Mr Tony Ojobo, NCC Director, Communications and Public Affairs, confirmed the...

  • Posted March 12, 2014
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