All posts by Ifreke Inyang

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  Tokunbo import: Manufacturers embark on importation of new cars

  FOLLOWING  the extension of implementation of government policy on importation of used vehicles into the country, car assembly plants have commenced massive importation of brand new cars in readiness for July, 2014 when it will come into...

  • Posted April 4, 2014
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  Diamond Bank to raise $750m capital

  Diamond Bank Plc Wednesday said it has sought shareholders’ approval to raise $550 million additional capital in its quest to raise its tier 2 capital by $750 million. It stated that $200 million has already been raised....

  • Posted April 4, 2014
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  1,200MW may be lost to uncompleted power projects

  The current poor supply of electricity in the country may be further compounded with the loss of 1,200 megawatts this year if the contractor handling three key National Integrated Power Projects fails to meet the stipulated completion...

  • Posted April 4, 2014
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  Fitch rates Zenith Bank’s $1bn GMTN ‘B ‘

  Global rating agency, Fitch Ratings, has assigned Zenith Bank Plc’s $1 billion Global Medium Term Note (GMTN) programme a Long-term rating of ‘B+’ with a Recovery Rating of ‘RR4’ and a Short-term rating of ‘B’. The recovery...

  • Posted April 4, 2014
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  FBN, Ecobank seal $170m financing deal

  Seven Energy International Limited and its wholly-owned subsidiary, Accugas Limited have closed a $170 million 5-year medium-term acquisition finance facility with FBN Bank (UK) Limited and Ecobank Nigeria Limited. FBN Capital Limited acted as the structuring bank,...

  • Posted April 4, 2014
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  NUBAN: Government suspends 1,000 civil servants’ salaries

  The Federal Government has suspended the March salaries of over 1,000 civil servants, who had refused to comply with the directive for the upgrade of their accounts to the 10-digit Nigerian Uniform Bank Account Number. The Accountant...

  • Posted April 4, 2014
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  FG to forward four maritime bills to National Assembly — Jonathan

  PRESIDENT Goodluck Jonathan has said that the Federal Government will soon forward four maritime bills to the National Assembly for consideration and passage into law. The four bills include:  National Transport Commission, NTC, bill, the Railway bill,...

  • Posted April 4, 2014
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  FG set to release Nigeria’s new GDP figure

  The Federal Government will on Sunday release the country’s new Gross Domestic Product figure, 15 years after the current one was released. The country is supposed to be releasing the figure every five years. The Minister of...

  • Posted April 4, 2014
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  Stakeholders discuss economic growth

  Stakeholders in various sectors of the economy have unanimously agreed that the economic divide between the North and the South is responsible for the instability in Nigeria. This was one of the topics of discussion at the...

  • Posted April 4, 2014
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  Access Bank to grow market share by $2.3bn

  Access Bank Plc has projected to grow its market share on the global trade platform from $4.1bn to $6.4bn. The bank said the development would help it to support trade and project-based financing for its customers. The...

  • Posted April 4, 2014
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