All posts by Ifreke Inyang

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  $180m Halliburton scandal: FG orders re-arrest of principal suspects

  Indications emerged in Abuja on Tuesday that the Presidency has issued a directive to the Police to re-arrest the major suspects of the $180million Halliburton bribery scandal. The instruction received from the presidency according to source is...

  • Posted October 24, 2012
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  Facebook records $59 million loss despite rise in ad revenue

  The world’s most popular online social network, Facebook, has posted a loss of $59m despite recording revenues rise of 32 per cent during the third quarter. The company revealed that its income rose to $1.26bn, between July...

  • Posted October 24, 2012
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  “There is always interest in this business” – Glazers vow not to cash in on United

  The Glazer family have no plans to cash in on Manchester United anytime soon and intend to remain at the Old Trafford helm for “many, many years” to come, according to vice-chairman Edward Woodward. United have been...

  • Posted October 23, 2012
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  DPR shuts down 20 fuel stations in Lagos for selling above N97/litre

  The Department of Petroleum Resources (DPR) said it has shut down 20 petrol stations in Ikorodu axis of Lagos State for selling petrol above recommended price of N97 per litre. The development had resulted in long queues...

  • Posted October 23, 2012
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• IMF warns African oil producers to avoid “white elephants”

  The International Monetary Fund has urged African oil and gas producing nations to direct their revenue in infrastructure and education rather than on “white elephants”. A photographer takes pictures through a glass carrying the International Monetary Fund...

  • Posted October 23, 2012
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• Insurance firms drag FIRS to tribunal over N1.15 billion excess tax

  NICON Insurance Company Plc and 43 others, on Monday in Abuja, dragged the Federal Inland Revenue Service (FIRS) to the Tax Appeal Tribunal over the non-refund of about N1.15 billion overpayment for stamp duties. The insurance companies,...

  • Posted October 23, 2012
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• Nigeria loses $500m yearly to foreign medical trips

  The search for better medical healthcare abroad by Nigerians particularly political office holders is said to be costing the nation over $500 million annually, even as a traveller on the average is said to be spending between...

  • Posted October 23, 2012
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  Aviation Minister, Stella Oduah accused of favouring Igbos in recruitment processes

  A wave of appointments in the Ministry of Aviation attracts suspicious stares to Ms. Stella Oduah, Minister of Aviation, who is accused of flooding agencies in the ministry with South-Easterners Stellar. This is not a word that...

  • Posted October 22, 2012
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  Controversy over oil price benchmark is unnecessary – Sanusi Lamido

  Governor of Central Bank, Mallam Lamido Sanusi, has decried the controversy over the oil price benchmark for the 2013 budget. Sanusi, who spoke to our correspondent in Jos, Plateau State, after delivering the second annual lecture on...

  • Posted October 22, 2012
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  Korea-Nigeria enter into agreement on industrial cooperation

  Nigeria and South Korea have agreed on an industrial cooperation strategy to promote the development of petrochemical and automotive industries and other major sectors in both countries. The agreement was reached during a meeting between Nigeria’s Minister...

  • Posted October 22, 2012
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