All posts by Ifreke Inyang

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  Operators fault NPA, back Shippers Council as port regulator

  Operators in the maritime industry have accused the management of the Nigerian Ports Authority, NPA, of neglecting their interest, even as they expressed confidence in the proposed move by the Federal Government to make the Nigerian Shippers...

  • Posted January 12, 2014
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  How we spent $10.8bn oil revenue – NNPC

  The management of the Nigerian National Petroleum Corporation, NNPC, yesterday, gave a clearer account of how it spent the $10.8 billion, the remaining part of the controversial un-remitted $48.9 billion oil revenue. The Corporation which said it...

  • Posted January 12, 2014
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  OPEC cuts exports to lowest in four months

  The Organisation of Petroleum Exporting Countries will cut crude shipments to the lowest level since September as refineries trim imports before conducting maintenance in the spring, according to Oil Movements. Bloomberg News reported that the researcher said in a...

  • Posted January 12, 2014
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  FCMB secures $150m loan facility

  First City Monument Bank Limited has announced the signing of a $150m senior unsecured term loan facility with Commerzbank Aktiengesellschaft and Standard Chartered Bank acting as initial mandated lead arrangers and book-runners. A statement by the bank...

  • Posted January 11, 2014
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  Oteh hinges capital market recovery on reforms

  The Director-General of the Securities and Exchange Commission, SEC, Ms. Arunma Oteh, has said that the recovery being witnessed in the capital market is an outcome of the commission’s reforms and zero-tolerance for corrupt practices. Arunma Oteh,...

  • Posted January 11, 2014
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  System breakdown slows Customs’ operations, revenue collection

  Efforts of the Nigeria Customs Service to meet its annual revenue target and ensure efficient port operations are being threatened by frequent breakdown of its information technology system. Vanguard investigation revealed that the frequent system breakdown has...

  • Posted January 11, 2014
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  Dangote’s $400m Zambian cement factory ready in February

  Dangote Group is set to complete the process of establishing a cement factory estimated at $400m in Zambia. The Nigerian High Commissioner in Zambia, Mrs. Sifawu Momoh, who gave the indication, said the cement factory would be...

  • Posted January 11, 2014
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  Retirement won’t affect my chances at CBN – Lemo

  The Deputy Governor, Operations, Central Bank of Nigeria, Mr. Tunde Lemo, on Thursday said his exit from office would not affect his chances of possibly succeeding Governor Lamido Sanusi. Lemo, 54, who will leave the CBN on...

  • Posted January 11, 2014
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  Missing funds: NNPC claims spending $8.49bn on subsidy

  The controversy surrounding the allegedly missing $10.8bn meant to be remitted to the Federation Account by the Nigerian National Petroleum Corporation took another turn on Friday as the NNPC claimed that it spent $8.49bn of the sum...

  • Posted January 11, 2014
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  Nigeria lauds UK’s support in debt management

  Vice-President Namadi Sambo on Friday hailed the United Kingdom for its support to Nigeria, particularly in debt management. Sambo made the commendation when he received the reports on the partnership between the UK-Department for International Development and...

  • Posted January 11, 2014
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