All posts by BusinessNews Staff

• FG has signed the 2011 Financial Reporting Council Bill into law – Aganga

  Minister of Trade and Investment, Dr. Olusegun Aganga, has disclosed that the Federal Government has signed the 2011 Financial Reporting Council Bill into law, saying the implementation of this law would put Nigeria on the part of adopting...

  • Posted July 31, 2011
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  FCMB and Finbank Merger gets CBN Approval

  The Central Bank of Nigeria (CBN) has approved the merger of First City Monument Bank (FCMB) and Finbank. Both banks had signed a Transaction Implementation Agreement (TIA) a fortnight ago which culminated in concrete merger talks between...

  • Posted July 29, 2011
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  Nigeria railway sector would be fully resuscitated – Idris Umar

  THE Minister of Transport, Senator Idris Umar has assured that the nation’s railway sector would be fully resuscitated within the next twenty five years to enable Nigeria to compete favourably with the other countries of the world...

  • Posted July 28, 2011
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  Petrobras Won’t Need Additional Debt in a Decade, CFO Says

  Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, said its plan to more than double output will boost cash flow and eliminate the need to tap debt markets after about 10 years. The company’s profit from oil sales...

  • Posted July 27, 2011
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  Oando announced a 25 per cent growth in profit

  Oando Plc has announced a 25 per cent growth in profit after tax in its half year 2011 financial performance. According to the unaudited results for the half year ended, June 30, 2011, presented to the Nigerian Stock...

  • Posted July 27, 2011
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  Greek Coke bottler CCH to buy out Nigerian Bottling Company

  Greek Coke bottler Coca-Cola Hellenic (CCH) has won shareholder approval to buy out the Nigerian Bottling Company and turn it into a wholly-owned subsidiary in a deal worth $136 million, its local unit said on Monday. CCH,...

  • Posted July 25, 2011
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  Tam David-West blames problems of refineries on saboteurs

  A former Nigerian Minister of Petroleum, Professor Tam David-West, has called on the Federal Government to identify those persons who have sabotaged the operations of the refineries in the country. David-West told journalists on Thursday in Port...

  • Posted July 24, 2011
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  Court orders IG to arrest Fidelis and Noel Anosike

  A Lagos High Court in Ikeja on Thursday issued a bench warrant on Directors of Folio Communications Limited, Mr. Fidelis Anosike and Mr. Noel Anosike, and ordered the Inspector General of Police (IGP), Mr Hafiz Ringim, to...

  • Posted July 24, 2011
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  Diageo to invest N55 billion in Guinness Nigeria

  Diageo plc (LON:DGE), the brewing giant, announced that it has partnered with Guinness Nigeria to invest N55 billion in Nigeria to expand its brewing capacity. The new investment will be used to upgrade the existing facilities and...

  • Posted July 24, 2011
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  NCDMB – Nigerian Content Development and Monitoring Board to Adopt Brazil Oil Model

  NCDMB – Nigerian Content Development and Monitoring Board has entered into a knowledge exchange initiative with Brazilian National Oil Company, Petrobras in its bid to further the development of local content and employment in Nigeria’s oil and gas...

  • Posted July 22, 2011
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