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  • Depositors Loss In Failed Banks amounts to N187.23bn

    A total of N187.23 billion was lost by over 2.7 million depositors as a result of poor corporate governance that led to the liquidation of 46 banks by the Nigeria Deposit Insurance Corporation (NDIC) from 1994 to...

    • Posted October 17, 2011
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  • Skye Bank 3Q Results Released

    Skye Bank has released its unaudited 3Q result posting a 10.8% growth in Earnings from N 66.2 Billion in Q3 2010 to N 73.3 Billion. Net profit was also up 9.5% to N 9.4 Billion from N...

    • Posted October 17, 2011
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  • Dollar Demand Wanes at CBN Auction, Naira Strengthens

    The Naira strengthened today at the CBN auction due to unusually low demand for the US Dollar. Demand for the greenback fell approximately 50% from $592 Million at the last auction to $297 Million, far below the...

    • Posted October 17, 2011
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  • AP Moller Maersk Planning Yuletide $130 Million Investment In Nigeria

    Danish super shipping firm AP Moller-Maersk has indicated it sees enormous potential in Nigeria and plans to increase its investment in the country substantially. According to head of Maersk Line in Central and West Africa, David Forest,...

    • Posted October 17, 2011
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  • World News You Don’t Want to Miss [17-Oct-2011]

    Asian markets were mostly up in overnight trading with the Nikkei rising 1.5%. Europe and the US were both much higher, but have completely reversed course after leaders downplayed expectations of a big solution coming next weekend. German finance minister Wolfgang Schaeuble...

    • Posted October 17, 2011
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  • ETI Declares Bumper 3Q Earnings, Profits

    EcoBank Transnational Incorporated has reported 3Q earnings of N 124 billion up 32% from the same period last year. Also Net profit increased by 55% over the same period last year to N 19 Billion. The financial...

    • Posted October 17, 2011
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  • G-20 Sets One Week Deadline For Plan, Markets Respond Favourably

    Markets across Europe this morning are reacting positively to comments and deadlines given at the G-20 conference held over the weekend. The STOXX 50 (+1.32%), FTSE 100 (+0.96%) and DAX (+1.66%) are rallying as market sentiment has...

    • Posted October 17, 2011
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  • Dangote cement targets 18 million metric tons output per annum

    Dangote Group’s Chief Human Resources Officer, Mr. Pabby Paramjit disclosed this at the inauguration of Dangote Academy’s  Graduate Engineer Trainees Scheme, GETS,  at the Obajana Cement plant, Kogi State,  at the weekend. He put Dangote’s current cement...

    • Posted October 17, 2011
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  • Ngozi Okonjo-Iweala
    Nigeria Foreign reserves rise to $32.9b

    The nation’s foreign reserves has risen to $32.98 billion. As at October 13, it netted over $2 billion in five days. Data from the Central Bank of Nigeria’s (CBN) website showed that as at October 7, the reserves stood...

    • Posted October 17, 2011
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  • Access Bank finalise Intercontinental Bank takeover

    Intercontinental Bank Plc has become a subsidiary of Access Bank Plc, making it the first rescued bank to complete its recapitalisation. This follows the approval of the shareholders of Access Bank Plc and Intercontinental Bank Plc, sanction of the...

    • Posted October 17, 2011
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  • Retail giant Yusuffali MA tops Indian Power List

    EMKE Group boss Yussuffali MA has topped the list of the GCC’s 100 most powerful Indians, published by Arabian Business today. The group, which owns the Lulu chain of hypermarkets, is headquartered in Abu Dhabi and has offices...

    • Posted October 16, 2011
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  • This 23-Year-Old’s Startup Is Generating $10 Million This Year

    Nikhil Sethi is 23 years old. He met his 22-year-old cofounder, Garret Ullom, at Northwestern University in a Probability of Statistics of Random Signals class. Ullom was a computer science major; Sethi was studying electrical engineering and law. Sethi’s father had tried his...

    • Posted October 16, 2011
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  • International MBA: Top 30 Business Schools

    In its 9th annual list, The Economist ranked Dartmouth’s Tuck School of Business as the best in the world. Grads can expect to earn around $107,000, on average 65% more than their pre-MBA salary. But of course, there was a...

    • Posted October 16, 2011
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  • Sport: Chelsea will not sell Drogba and Anelka in January – Andre Villas-Boas

    Andre Villas-Boas says he will not sell Didier Drogba and Nicolas Anelka in January and would rather risk losing them for nothing. Drogba, 33, Anelka, 32, fellow striker Salomon Kalou, 26, and full-back Jose Bosingwa, 29, are...

    • Posted October 15, 2011
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