All posts by Ifreke Inyang

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  Court stops Edo government from selling water project pipes

  An Edo State High Court sitting in Benin, has restrained  the Edo State Government from disposing or selling the water project pipes stacked in two places in Benin City for the water supply scheme project of the...

  • Posted May 15, 2013
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  FG earns N179.5bn from non-oil sector

  The Federal Government earned N179.5bn ($1.136bn) revenue from the non-oil sector in the first quarter of 2013, driven mainly by receipts from the industrial sector, the Central Bank of Nigeria has said. The bank revealed this in...

  • Posted May 14, 2013
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  Reps, CBN disagree over N13.4billion house sale proceeds

  The Public Accounts Committee of the House of Representatives and the Central Bank of Nigeria on Monday disagreed on whether or not the bank remitted the N13.4bn it realised from the sale of houses in 2008 to...

  • Posted May 14, 2013
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  Payment of PHCN workers’ entitlements yet to commence

  Two months after it announced the approval of N384bn as severance package for workers of the Power Holding Company of Nigeria, the Federal Government has not commenced payment to the workers. The government had stated that it...

  • Posted May 14, 2013
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  DMO sets borrowing limit at 40% of GDP

  The Debt Management Office has set the nation’s borrowing limit at 40 per cent of the Gross Domestic Product. The Director-General, DMO, Dr. Abraham Nwankwo, said this at the ‘Debt Sustainability Workshop’, which opened in Abuja on...

  • Posted May 14, 2013
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  CBN begins second phase cashless policy July 1

  The Central Bank of Nigeria (CBN) has affirmed that the second phase of the cashless initiative will begin July 1, 2013. Deputy Governor, Operations, CBN, Mr. Tunde Lemo, confirmed this weekend, saying that the planned extension of...

  • Posted May 14, 2013
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  How theft stalls accurate measurement of oil output

  A GRAPHIC picture of how sophisticated oil theft gangs in the Niger Delta frustrate an accurate measurement of the actual amount of oil that Nigeria produces was painted at the just-concluded Offshore Technology Conference (OTC), Houston, Texas,...

  • Posted May 13, 2013
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  UBA’s profit grows to N54.8billion in 2012

  UNITED Bank for Africa (UBA) Plc has announced its audited financial results for the full year 2012, even as its profit rose by over 905 per cent to close at N54.8billion from the N6.8billion loss it recorded...

  • Posted May 13, 2013
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  May & Baker posts N6billion sales in 2012

  MAY & Baker Nigeria Plc has announced its audited report and accounts for the year ended December 31, 2012, indicating that total sales rose by 17 per cent to about N6 billion. Key extracts of the audited...

  • Posted May 13, 2013
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  Growing debt, good for the country – DMO

  Despite warnings by economists against the country’s increasing debt profile, the Debt Management Office has said the continued rise in both domestic and external debts is a good thing for Nigeria. The DMO argued that the government’s...

  • Posted May 13, 2013
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