All posts by BusinessNews Staff

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  Oceanic Bank to transfer 40.17 pct to Ecobank

  Nigeria’s rescued lender Oceanic Bank said on Friday it would seek shareholders’ approval for the transfer of 40.17 percent of its holdings to Ecobank Transnational Incoporation , which it signed a merger deal with last month. In a...

  • Posted September 2, 2011
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  Daily Stock News (Sep 1,2011)

  Equity market extends the losing streak for eight straight days in a row as bearish sentiments continued to dominate market atmosphere while investors still lack bargain confidence towards investments in equities with market recording four losers for...

  • Posted September 1, 2011
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  Visafone crashes tariff to less than 1 kobo per second

  Visafone has again crashed its tariffs for within-the-network calls to less than 1 kobo per second.The move was aimed at giving Nigerians the comfort to call loved ones with its newly introduced mega bumper package dubbed ‘Fantastic...

  • Posted September 1, 2011
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  U.S. moves to block AT&T, T-Mobile deal

  The Obama administration sued to block AT&T Inc’s $39 billion (24 billion pounds) acquisition of wireless rival T-Mobile on concerns it would harm competition, launching its biggest challenge yet to a takeover and dealing the carrier a...

  • Posted August 31, 2011
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  AMCON Plans to Boost Bond-Sale Limit by 50%

  Asset Management Corp. of Nigeria, which buys non-performing debt from lenders in the West African nation, wants to raise the amount of bonds it is allowed to sell by 50 percent to 4.5 trillion naira ($29 billion)....

  • Posted August 31, 2011
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  Access Bank of Nigeria Plans to Buy 75% of Intercontinental Bank

  Access Bank Plc (ACCESS), a Nigerian lender, will seek approval from its shareholders to buy 75 percent of Intercontinental Bank Plc , which was bailed out by the West African nation’s central bank in 2009. Shareholders will also be...

  • Posted August 30, 2011
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  Flour Mills of Nigeria to start Sugar Refinery in 2012

  Flour Mills of Nigeria Plc’s sugar refinery, which is under construction in Lagos, will start producing the sweetener in the second quarter of 2012, said Vlassis Liakouris, the company’s group treasurer. The refinery will have an initial...

  • Posted August 29, 2011
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  NBC Shares on full Suspension, to be delisted on Sept 07, 2011

  The shares of Nigerian Bottling Company (NBC) Plc, bottlers of Coke, has been placed on full suspension following receipt of their application for delisting from the daily official list. The development means that there will be no...

  • Posted August 29, 2011
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  Federal Government to install four hydro-electric turbines in Kainji

  The Federal Government has unveiled plans to install four additional hydro-electric turbines in the remaining units 1, 2, 3 and 4 open pits of Kainji Hydro-Electric Plant which have remained open since the completion of the plant...

  • Posted August 29, 2011
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• 38 businessmen from East China visits Nigeria

  A trade group of 38 businessmen and government officials from East China’s Wenzhou City in Zhejiang Provicne visited Nigeria on Aug. 23-27. The businessmen coming from garment and shoemaking, electric appliances, building materials and agriculture visited free...

  • Posted August 28, 2011
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