All posts by Ifreke Inyang

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  Unity Bank grows profit after tax by 130%

  Unity Bank Plc grew its profit after tax by 130 per cent in the 2012 financial year as it improved on all other ratios. According to its audited accounts, which have been made available to the Nigerian...

  • Posted April 30, 2013
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  FCMB declares N16.3bn profit, issues bonus shares

  Shares in First City Monument Bank (FCMB) Plc fell by 8.5 per cent yesterday as investors reacted to non-payment of  cash dividends by the bank for the year ended December 31, 2012. The Nigerian Stock Exchange (NSE)...

  • Posted April 30, 2013
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  Notore, foreign firm to build 500MW plant

  Notore Power Limited (Notore Power), an indigenous independent power producer (IPP), has just signed a Memorandum of Understanding (MoU) with ContourGlobal to develop, construct, finance and operate a gas-fired power station. The plant would have an available capacity...

  • Posted April 30, 2013
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  Glo extends 2013 network investment to $1.2bn

  Nigeria’s indigenous telecoms service provider, Globacom, has signed a new $500 million contract with ZTE, a global Information and Communication Technology solutions provider, for network upgrade, bringing the former’s network investment for 2013 to a whopping $1.250...

  • Posted April 30, 2013
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  Elumelu wants Nigerian Banks to co-finance $3.4bn Transmission Networks

  Chairman of Transcorp Ughelli Power Plant and former Managing Director of United Bank for Africa (UBA), Mr. Tony Elumelu, has urged the federal government to grant Nigerian banks consideration to participate in funding scheduled long-term projects aimed...

  • Posted April 30, 2013
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  NPDC daily crude production now 138,000 barrels

  The Nigerian Petroleum Development Company Limited, a wholly owned subsidiary of the Nigerian National Petroleum Corporation, has increased its daily oil production to 138,000 barrels from 60,000bpd. This was contained in a rejoinder signed by NPDC management...

  • Posted April 30, 2013
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  PIB: Experts call for upward review of host communities’ fund

  SENATORS were,yesterday, told that passage of the Petroleum Industry Bill, PIB, into law might lead to repeal of laws that established 10 agencies, including Nigerian National Petroleum Corporation, NNPC, and preservation of five others. Senators were also...

  • Posted April 30, 2013
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  Minister raises alarm over theft of rail components

  Minister of Transport, Senator Idris Umar, has raised alarm over the frequent theft of rail components on  the Port Harcourt – Enugu rail line. The minister, who frowned at the situation, charged the Managing Director of Nigerian...

  • Posted April 30, 2013
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  NCC orders MTN to collapse rates

  TELECOMMUNICATIONS regulator, the Nigerian Communications Commission, has ordered MTN Nigeria to collapse the rates for its on-net and off-net voice services, which it said has a 300 per cent differential with effect from tomorrow, May 1. The...

  • Posted April 30, 2013
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  Nigerian businesses borrow N1.59trn in 4 months

  Businesses in Nigeria have borrowed over N1.59 trillion from both local and international banks through syndicated loan deals, since the beginning of 2013, according to reports from Reuters released yesterday. This, according to the report, was driven...

  • Posted April 30, 2013
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