All posts by Ifreke Inyang

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  FG to sell four state-owned refineries next year

  The federal government plans to begin the privatisation of four of its state-owned oil refineries before the end of the first quarter of next year, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has said. “We would...

  • Posted November 20, 2013
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  We all shared $5bn ECA fund — FG

  The Federal Government on Monday denied an allegation made by the Rivers State Governor, Mr. Rotimi Amaechi, that $5bn was missing from the Excess Crude Account. It stated that the governor could not deny knowledge of the...

  • Posted November 20, 2013
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  NAMA imposes $3,000 fee on non-scheduled airline operators

  The Nigerian Airspace Management Agency has announced that airlines involved in non-scheduled operations will pay up to $3,000 as fees. This was contained in ‘aeronautical information’ circular for all airlines involved in non-scheduled flight operations. NAMA said...

  • Posted November 20, 2013
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  Concerns mount as banks face liquidity challenges

  More banks have continued to look for alternative sources of earning following the directive by the Central Bank of Nigeria that increased Cash Reserve Ratio to 50 per cent. The CBN, in July, raised the CRR for...

  • Posted November 20, 2013
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  N500bn SURE-P fund not missing – FG

  The Federal Government on Monday dismissed claims that the sum of N500bn was missing from the Subsidy Reinvestment and Empowerment Programme Account. The amount, it said, was paid to states and local governments as part of their...

  • Posted November 20, 2013
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  Transcorp shares rise 94% on power plant acquisition

  There has been a renewed demand for the shares of Transnational Corporation of Nigeria Plc (Transcorp) at the stock market after the company took over the Ughelli Power plant on November 1, 2013. Transcorp   acquired the Ughelli...

  • Posted November 19, 2013
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  OPEC pumps 29.9mbpd of crude in October

  Crude oil production from the Organisation of the Petroleum Exporting Countries (OPEC) was unchanged at 29.93 million barrels per day (mbpd) in October following production of 29.91 million b/d in September, a just-released Platts survey of OPEC...

  • Posted November 19, 2013
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  Aviation crisis: Airlines lose passengers to road transporters

  Fewer passengers are now travelling by air, despite being the safest and fastest means of transportation. This is mostly as a result of the rising cases of air accidents, disappointments, near crashes and allegation of corruption rocking...

  • Posted November 19, 2013
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  Portfolio investment inflow declines by 4.4% ­­­­ — CBN report

  Portfolio investment inflow into Nigeria declined by 4.4 per cent from $6.82bn in the first quarter to $6.52bn in the second quarter of 2013, a new report by the Central Bank of Nigeria has shown. The report...

  • Posted November 19, 2013
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• First Bank supports education advancement

  First Bank of Nigeria Limited has expressed its commitment to education advancement in the country by holding the maiden edition of Future First, its career counselling and financial literacy initiative. The initiative, according to the Group Head,...

  • Posted November 19, 2013
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