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  • Morgan Stanley 3Q Numbers Beats Peers on Accounting Trick

    Morgan Stanley, one of the world’s most prestigious investment banks reported its 3Q results today. Earnings were better than expected and beat the expectations of industry analysts. According to Bloomberg, “Earnings beat the 30-cent average estimate of...

    • Posted October 19, 2011
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  • Wema Bank Reports Modest 3Q Earnings

    Wema Bank, a regional bank operating from South-West Nigeria, released itsQ3 earnings yesterday, reporting a 15.6% drop in Revenue over the 9 months period ending September 30th. Gross earnings were down to N 20.3 Billion from N...

    • Posted October 19, 2011
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  • CBN Plans Four-Year Petroleum Imports Audit

    The Central Bank of Nigeria (CBN) is planning a four-year petroleum import review in the country. Analysts predict that the planned audit would assist the apex bank to check the movement of foreign exchange in the importation of petroleum...

    • Posted October 19, 2011
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  • President Goodluck Jonathan
    FG Issues 12,000 Mining Titles Leases

    The Mining Cadastre Office has issued out a total of 12,000 mining titles leases, it was learnt yesterday. The Minister, Musa Sada disclosed this in Abuja during the Council of Nigerian Mining Engineers and Geologists (COMEG) stakeholders’ forum on...

    • Posted October 19, 2011
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  • Zenith Bank Posts 3Q Earnings, Excites Investors

    Zenith Bank posted its 3Q numbers today to the toast of investors. In usual style, Zenith Bank showed why it is a blue-chip company and top-tier bank by reporting a whopping 31.1% increase in Revenue to N...

    • Posted October 18, 2011
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  • All Share Index Down 30 Basis Points

    The Nigerian Stock Exchange fell 30 basis points at the close of trading dragging the All Share index to 20,011.72. Top winners today were GT Assurance (4.96%), Neimeth (4.44%), Japaul Oil (4%), PZ (3.86%), Aiico (3.51%), and...

    • Posted October 18, 2011
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  • Okonjo-Iweala Fast Tracks Sovereign Wealth Fund Launch

    The coordinating Minister for economy and the Minister of finance, Dr. Ngozi Okonjo Iweala unveiled the blue-print for the take off of the country’s Sovereign Wealth Fund. Addressing reporters earlier today in Abuja, the minister stated, “We...

    • Posted October 18, 2011
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  • Goldman Sachs 3Q Earnings Big Disappointment

    Goldman Sachs, the world’s most profitable and hitherto respected Investment Banks has shocked analysts and industry players alike by releasing 3Q earnings that fall far below expectations. Goldman Sachs posted a loss of $393 Million, its second...

    • Posted October 18, 2011
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  • Airtel Nigeria Offers Service Waiver to BlackBerry Customers

    As a way of ensuring that subscribers get glued to its network, Airtel yesterday announced that it would offer its BlackBerry customers a service waiver following last week’s global outage attributed to the service provider, Research in...

    • Posted October 18, 2011
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  • Bank of Agriculture injects N1billion to micro finance banks in remote areas

    TO fast track access to finance in rural parts of the country, the Bank of Agriculture has injected N1billion for on-lending to micro finance banks in remote areas. The National Project Co-ordinator for Rural Finance Institution building...

    • Posted October 18, 2011
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  • Airtel Nigeria to raise investments in infrastructure to $1billion

    Airtel Nigeria has revealed plans to raise its investments in networks and information technology infrastructure in the country to $ 1 billion by the end of March 2012. The move, according to the company, was part of...

    • Posted October 18, 2011
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  • Review allocation formula before removing fuel subsidy – Tinubu

    Action Congress of Nigeria (ACN) national leader, Asiwaju Bola Tinubu yesterday asked the Federal Government to obey the five-year review of revenue allocation formula in line with the Constitution as a pre-condition for removal of oil subsidy....

    • Posted October 17, 2011
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  • All Share Index Comes Out Swinging, Up 1.01%

    The All Share Index commenced the week on a positive note appreciating by 1.01% to close at 20,071.36. Winners in the banking sector included Diamond (+4.95%), Sterling (+3.82%), FCMB (+3.75%), GTB (+2.38%). First Bank, Skye Bank and...

    • Posted October 17, 2011
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  • Spectranet Nigeria launches Wireless Broadband on its 4G network

    Broadband Penetration in Nigeria has received a boost with launch of the latest fourth generation Wireless Broadband Services by Spectranet Nigeria Limited on its 4G network. Speaking at the official product launch of the network, the Chief Operating...

    • Posted October 17, 2011
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