All posts by BusinessNews Staff

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  Islamic Banking: Sanusi was too emotional – Olu Falae

  Former Minister of Finance, Chief Olu Falae, has faulted Central Bank of Nigeria, CBN, Governor Malam Lamido Sanusi, over islamic banking, arguing that he (Sanusi) was too emotional about the issue which is unexpected of a public...

  • Posted December 22, 2011
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  Regulators order Facebook to overhaul European Network on Data Privacy Concerns

  Facebook Inc. must overhaul its network in Europe over the next six months as a result of an investigation into how the social network handles personal data. Facebook has to make “a wide range of best practice improvements” to...

  • Posted December 21, 2011
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  Rivers State Governor Amaechi presents N427b 2012 budget

  Rivers State governor, Rotimi Amaechi has presented a budget of N427 billion to the state House of Assembly for the 2012 fiscal year. Presenting the budget on the floor of the House in Port Harcourt, Amaechi noted...

  • Posted December 21, 2011
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  CBN Halts Currency Auctions for 2011 as Naira free falls

  The naira headed for its weakest in about 10 weeks as dollar demand shot up on bets the Nigerian currency may further decline with the end of central bank auctions for the year. The currency of Africa’s biggest...

  • Posted December 21, 2011
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  Shell spills 40,000 barrels of oil in Nigerian coast

  Royal Dutch Shell is shutting down its huge 200,000 barrels per day (bpd) Bonga oilfield off the Nigerian coast after a leak occurred while loading a tanker on Tuesday, the firm said in a statement. The Anglo-Dutch...

  • Posted December 21, 2011
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  Amazon weighed buying RIM but interest cooled

  Research In Motion Ltd has turned down takeover overtures from Amazon.com Inc and other potential buyers because the BlackBerry maker prefers to fix its problems on its own, according to people with knowledge of the situation. Amazon...

  • Posted December 21, 2011
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  Nigeria LNG Limited appoints Babs Jolayemi Omotowa as MD

  Nigeria LNG Limited has appointed Mr Babs Jolayemi Omotowa as its new managing director. He will replace Mr Jonathan Ibeneche, who will retire on January 31, 2012, after three years in the saddle. Omotowa, according to a statement from...

  • Posted December 21, 2011
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  FG will diversify economy before oil well dries up – President Jonathan

  Ahead of the prediction by oil experts that Nigeria’s oil well reserve might dry up within the next 35 to 45 years, President Goodluck Jonathan yesterday in Ewekoro, Ogun State said his administration was committed to diversifying...

  • Posted December 21, 2011
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  BPE Probe: Senate cancels sale of Daily Times and eight others

  THE Senate yesterday rescinded the sale of Daily Times Nigeria plc, the Aluminium Smelter Company of Nigeria ALSCON, Transcorp Hilton Hotel, and six other public enterprises formerly owned by the Federal Government. This followed the Senate’s approval...

  • Posted December 21, 2011
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  2012 Budget: Presidency to Spend Naira 1 Billion on Food Subsidy

  Taxpayers will spend a fortune feeding the president and his deputy next year The Federal Government plans to spend approximately N1 billion in feeding its first and second citizens next year if the National Assembly approves President...

  • Posted December 20, 2011
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