All posts by Ifreke Inyang

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  Italy probes Eni CEO over Nigerian OPL 245 deal

  Milan prosecutors have placed the Chief Executive Officer of Italian oil and gas company, Eni, under investigation over alleged bribes paid for a lucrative Nigerian oil concession, according to a report by theAssociated Press. Eni confirmed on...

  • Posted September 13, 2014
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  Nigeria emerges new chair of CTO

  Nigeria was on Thursday elected the new chair of the Council and Executive Committee of the Commonwealth Telecommunications Organisation, taking over from Kenya. The election took place during the organisation’s annual council meeting in Dhaka, Bangladesh. “We...

  • Posted September 13, 2014
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  FIRS evolves new audit mechanism for revenue collection

  The acting Executive Chairman, Federal Inland Revenue Service (FIRS), Alhaji Kabir Mashi yesterday said audit tools and techniques had been introduced to increase tax revenue collection across its field offices in the country. He said a framework...

  • Posted September 12, 2014
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  Fitch rates Helios Towers Nigeria ‘B’

  Fitch Ratings has assigned telecom infrastructure group, Helios Towers Nigeria Limited (HTN) a long-term Issuer Default Rating (IDR) of ‘B’ with a stable outlook. This followed the telecom company’s successful placement of $250 million of 8.375 per...

  • Posted September 12, 2014
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  Naira hits two-month low, NNPC dollar sale fails

  The naira fell to its lowest level in two months against the dollar on Wednesday, as the sale of the greenbacks by the Nigerian National Petroleum Corporation failed to meet market expectations. Traders said the NNPC sold...

  • Posted September 12, 2014
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  IFC provides $17bn support to entrepreneurs in Africa

  The International Finance Corporation (IFC), a member of the World Bank Group has said it provided billions of dollars of new financing and investment mobilisation and has also delivered wide-ranging advisory services in Africa in its 2014...

  • Posted September 12, 2014
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  FRC: SEC, NPA Failed to Remit N28bn Surplus

  In spite of clear fiscal regulatory provisions that all federal government Ministries, Departments and Agencies  (MDAs) must return their annual operating surplus to the treasury, the Securities and Exchange Commission (SEC) and the Nigerian Ports Authority (NPA)...

  • Posted September 12, 2014
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  National Assembly moves to pass PIB before December

  There are fresh hopes that the troubled Petroleum Industry Bill may eventually be passed by both chambers of the National Assembly before the end of this year. Stakeholders in the oil and gas industry are full of...

  • Posted September 12, 2014
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  Forte Oil acquires 100 trucks for downstream operation

  Forte Oil Plc, one of Nigeria’s petroleum products retailers, has acquired 100 brand new product delivery trucks in line with its strategy to sustain operational efficiency and attain exceptional product throughput. The acquisition, which was financed through...

  • Posted September 12, 2014
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  NERC opens Benin office to resolve electricity conflicts

  The National Electricity Regulatory Commission has opened a forum office in Benin, the Edo State capital, to address unresolved issues between the Benin Electricity Distribution Company and its customers within the latter’s coverage area. The Minister of...

  • Posted September 12, 2014
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