All posts by BusinessNews Staff

• Extension of Interbank Guarantee to ETB on Signing of TIA – CBN Release

  Following the successful signing of Transactions Implementation Agreement (TIA) between Equatorial Trust Bank Limited (ETB) and Sterling Bank Plc, the CBN wishes to announce extension of interbank guarantee given to ETB to 31st December 2011. The extension...

  • Posted August 27, 2011
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  Sanusi’s Financial Gerrymandering [Opinion]

  Editor’s note: This guest post is written by Chudi Offodile, a lawyer and former member of the House of Representatives When Elbridge Gerry was Governor of Massachusetts, USA, in 1812, the State legislature divided Essex County into two...

  • Posted August 27, 2011
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  Copperbelt Energy plans to acquire stake in PHCN

  Zambia’s Copperbelt Energy Corp. intends to acquire a stake in a Power Holding Company of Nigeria. CEC’s managing director for corporate development, Michael Tarney, said the firm intends to bid for part of Power Holding Company of...

  • Posted August 27, 2011
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  U.S. wants to invest in Nigeria’s energy sector

  United States federal government is taking serious interest in investing in the Nigeria’s energy sector, U.S. Ambassador to Nigeria Terence McCulley said. McCulley, however, urged the Nigerian government to address widespread corruption in the country’s energy sector....

  • Posted August 27, 2011
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  Weekly Stock News (Aug 26,2011)

  Trading activities on the NSE bourse closed downbeat in all trading days of the week as market sentiments remained weak while market lack positive news to drive sustainable up trend. The bears remained in control of the...

  • Posted August 26, 2011
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  Lagos to establish more asphalt plants

  The Lagos State Government is planning to establish three additional asphalt plants in Badagry, Ikorodu/Epe axis and the Lagos Mainland. Mr Samuel Ayetutu, Head, Public Relations Department, Lagos State Public Works Corporation (LSPWC), who disclosed this, said...

  • Posted August 26, 2011
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  Private interests stalled PIB – Lee Maeba

  Overbearing  per sonal gain over national interest, prevented the passage of the Petroleum Industry Bill (PIB) by the previous  National Assembly, a former Senator and key player in the PIB, Lee Maeba, has said. Meaba, who was the...

  • Posted August 26, 2011
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  FG needs $30 billion annually to develop energy industry

  Federal Government of Nigeria said on Thursday that the country would require a total investment of $30 billion annually to develop the entire energy industry. This is coming as the nation’s power industry is facing system failure,...

  • Posted August 25, 2011
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  Steve Jobs resigns as APPLE CEO

  Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the...

  • Posted August 25, 2011
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  BPE releases industry agreements for PHCN

  In line with the revised transaction timeline for the privatisation of the successor companies created from the Power Holding Company of Nigeria (PHCN), the Bureau of Public Enterprises has released the industry agreements. They are the draft Power Purchase...

  • Posted August 25, 2011
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