All posts by BusinessNews Staff

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  FBN Life Assurance acquires majority equity interest in Oasis Insurance

  FBN Holdings Plc is pleased to announce that its subsidiary, FBN Life Assurance Limited (“FBN Life” or “the Company”), has acquired 4,630,595,326 ordinary shares of 50kobo each, representing 71.2% of the total issued ordinary share capital of...

  • Posted February 17, 2014
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  NSE market capitalisation rises by 0.80%

  Weekly equity transactions on the Nigerian Stock Exchange (NSE) opened on Monday in a positive note with the market capitalisation closing at N12.52 trillion. The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened...

  • Posted February 17, 2014
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  Tax expert decries planned removal of VAT, stamp duty

  The President, Chartered Institute of Taxation of Nigeria, Mr Mark-Anthony Dike on Monday said the removal Value Added Tax (VAT) and stamp duty on capital market activities would affect government revenue. He said that government’s plan to...

  • Posted February 17, 2014
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  National Agricultural Insurance Corporation gets new Managing Director

  The Federal Government, on Friday announced the appointment of Mr. Bode Opadokun as Managing Director of the National Agricultural Insurance Corporation (NAIC). This is contained in a statement issued by Mr Butrous Opembi, Head of Corporate Affairs...

  • Posted February 15, 2014
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  FAAC: FG, states, LG share N629.12bn for January

  The Federal Government, states and local governments in Abuja on Thursday shared f N629.12 billion from the Federation Account for January. The Accountant-General of the Federation, Mr Jonah Otunla, made the announcement when he briefed newsmen on...

  • Posted February 14, 2014
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  FG applauds ExxonMobil on $8.6bn contractor finance scheme

  The Federal Government on Tuesday applauded ExxonMobil Nigeria for the launch of 8.6 billion dollar (N137.6) contractors finance scheme. Speaking at the launch in Lagos, Mr Ernest Nwapa, the Executive Secretary, Nigerian Content Development and Monitoring Board...

  • Posted February 12, 2014
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  Market capitalisation dips by N62bn on Tuesday

  The market capitalisation on the Nigerian Stock Exchange (NSE) in Lagos dropped by N62 billion or 0.48 per cent at Tuesday’s trading, as major stocks recorded price losses. The News Agency of Nigeria (NAN) reports that the...

  • Posted February 12, 2014
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  Reps want committee to review criteria on proposed NCC spectrum auction

  The House of Representatives has mandated its Committee on Communications to review the pre-qualification criteria on the proposed auction of 2.3 GHz BroadBand Spectrum by the Nigerian Communications Commission(NCC). The House said in Abuja on Tuesday that...

  • Posted February 12, 2014
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  NPDC targets 900 million SCF gas production by 2018

  The Nigerian Petroleum Development Company (NPDC) on Tuesday projected to produce 900 million Standard Cubic Feet (SCF) of gas per day by 2018. The company said that the gas production increase was part of efforts to boost...

  • Posted February 12, 2014
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  Sovereign Wealth Fund gets additional $550m for investment

  The Federal Government said on Monday it had given an additional 550 million dollars to the Sovereign Wealth Fund (SWF) for the development of infrastructure in the power sector. The Coordinating Minister for the Economy and Minister...

  • Posted February 11, 2014
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