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All posts by Ifreke Inyang

  • Sale of Nigerian unit lifts ConocoPhillips Q3 profit

    ConocoPhillips, the largest United States independent oil and gas company yesterday reported higher third-quarter profit from the sale of its Nigerian unit but lowered its fourth-quarter production outlook. Over the last several years, Conoco had shed lower-margin...

    • Posted November 1, 2014
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  • SEC urges Entertainment Industry to seek funding from Capital Market

    Director General of the Securities and Exchange Commission, Ms. Arunma Oteh, has stated that the funding challenge being faced by the entertainment industry in Nigeria can be resolved with long term capital from the stock market. Oteh...

    • Posted November 1, 2014
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  • Rice importers pay N23.1bn duty in nine months

    Rice importers in the country paid about N23.1bn as duty on the produce in the first nine months of the year. Statistics obtained by our correspondent from the Tin Can Island Customs office showed that N7.92bn was...

    • Posted November 1, 2014
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  • FG to arraign NBC, Coca-Cola bosses November 4

    The Federal High Court 8, Abuja has fixed Tuesday, November 4 for the arraignment of Coca-Cola Nigeria Limited and Nigeria Bottling Company Limited and their managing directors for alleged violation of the Consumer Protection Council Act. The...

    • Posted November 1, 2014
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  • Chinese firm to construct new power grid – FG

    A Chinese firm, Shandong Power Equipment Company Limited, is to construct a new power grid for the country, the Federal Government has said. The Minister of Power, Prof. Chinedu Nebo, disclosed this in Abuja on Thursday while...

    • Posted November 1, 2014
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  • Substandard product level drops to 40%

    The level of substandard products in the country has dropped to 40 per cent from 85 per cent in the last four years, the Director-General, Standards Organisation of Nigeria, Dr. Joseph Odumodu, has said. Odumodu, who spoke...

    • Posted November 1, 2014
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  • Contributory Pension Funds hit N4.5trillion

    The contributory pension scheme (CPS) has accumulated a large pool of investible funds of over N4.5 trillion pension assets as at June this year, the Director General, National Pension Commission (PenCom), Mrs. Chinelo Anohu-Amazu stated Thursday. Anohu-Amazu...

    • Posted November 1, 2014
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  • Union Bank, Diamond Bank post Q3 results

    Union Bank of Nigeria Plc and Diamond Bank Plc yesterday released their third quarter 2014 unaudited financial statements on the floor of the Nigerian Stock Exchange (NSE). For Union Bank of Nigeria, its unaudited results for the...

    • Posted October 31, 2014
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  • Banks barred from selling dollars to BDCs at Interbank Market

    As part of measures to strengthen the naira as well as to sanitise the operations of the forex market, the Central Bank of Nigeria (CBN) has barred commercial banks (authorised dealers) from selling its interventions funds in...

    • Posted October 31, 2014
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  • Nigerians condemn 20-year fuel importation plan

    A cross section of Nigerians, including financial and labour experts, have condemned the plan by the Federal Government to continue to import refined petroleum products for the next 20 years. The Minister of Petroleum Resources, Mrs. Diezani...

    • Posted October 31, 2014
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