All posts by BusinessNews Staff

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  We need to stop paying subsidies and invest in our refineries – Sanusi

  Governor, Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has warned of grave economic consequences for the nation if Nigerians did not  support the proposed removal of oil subsidy. He said though the removal  was a...

  • Posted November 27, 2011
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  Savannah Bank: Hurdles before the Bridge Bank Option

  A recent statement credited to Nigeria Deposit Insurance Corporation threatening to use the bridge bank option for Savannah Bank and Societe General Bank, has raised eyebrows among the shareholders of the bank. Ike Abonyi x-rays their position...

  • Posted November 27, 2011
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  Bears Tighten Hold on Equities

  Bears tightened their hold on the stock market  Thursday, dragging the Nigerian Stock Exchange (NSE) All-Share Index below  the 20,000 level for the second time within two months. The benchmark index had hit the 19,000 level in...

  • Posted November 25, 2011
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  Ogun Partners BoI on Industrialisation

  The Ogun State Government is partnering the Bank of Industry (BoI) in  the government’s efforts to industrialise the state. The State Governor, Ibikunle Amosun, who disclosed this in speech at a Town Hall meeting with stakeholders on...

  • Posted November 25, 2011
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  Name Beneficiaries of Subsidy Fraud, NASU Tells FG

  The Non- Academic Staff Union of Universities (NASU) has called on the Federal Government to name the members of the ‘cartel’ fraudulently benefiting from the money meant for fuel subsidy in Nigeria. Anything short of that, the...

  • Posted November 25, 2011
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  Subsidy removal will choke economy, says David-West

  The planned removal  of fuel subsidy  will strangle the economy, stoke up inflation, hurt businesses and the public, former  Petroleum  Minister Professor Tam David – West, has said. Speaking on “Oil ‘Subsidy’: Facts, Fiction and fraud”  at a...

  • Posted November 25, 2011
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• India firm buys Nigeria, DRC crude oil

  India’s Mangalore Refinery and Petrochemicals (MRPL) has bought 1.3 million barrels of West African crude oil for loading in January and February via tender, trade sources said yesterday. MRPL  according to Reuters News, bought 650,000 barrels of Nigerian Escravos...

  • Posted November 25, 2011
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  Obasanjo becomes IITA’s Goodwill Ambassador

  To help boost the fight against hunger and poverty in Africa, former President Olusegun Obasanjo has accepted to be a “Goodwill Ambassador ” of the International Institute of Tropical Agriculture (IITA). A statement issued by the IITA...

  • Posted November 25, 2011
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  Nigeria sells N111b T-bills

  The Federal Government sold  N110.85 billion ($693.90 million) in short-dated treasury bills at an auction yesterday, with yields falling sharply compared to the trend at the previous auction, the Central Bank of Nigeria (CBN) said. The apex...

  • Posted November 25, 2011
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  FG May Issue Visa to Passengers at Lagos Airport

  There are indications that the Federal Government might introduce the issuance of visa to passengers who are transiting from the Murtala Muhammed International Airport, Lagos to other African countries, which would enable them move freely until they...

  • Posted November 25, 2011
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