Latest News

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  Tony Elumelu appointed as new Chairman for Transcorp

  Mr. Tony Elumelu, the immediate past Group Managing Director of the United Bank for Africa (UBA),  yesterday emerged as the new Chairman of Transnational Corporation of Nigeria Plc. He was appointed by the shareholders of the company at...

  • Posted September 16, 2011
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• ACCCESS TO PORTABLE WATER DILEMMA

  As the world battle global hunger, the President of International Commission on Large Dams Dr. Jia Jinscheng said that 1.1billion people globally lack access to portable water. This has further accentuated the widening gap between the rich...

  • Posted September 15, 2011
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  Blacksands Pacific farm-in to Sigmund’s OPL 2012

  US-based Blacksands Pacific will spend at least $215 million on developing oil block OPL 2012 in the offshore Niger Delta after signing a deal with indigenous exploration and production companies, the company has announced Blacksands will fully...

  • Posted September 15, 2011
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• Cadbury Nigeria Forecasts 1.54 Billion Naira Profit

  Cadbury Nigeria Plc, a manufacturer of drinks and food products, forecast annual net income of 1.54 billion naira ($9.9 million). Revenue for the 12-month period through December will be 33.77 billion naira, the Lagos-based company said in...

  • Posted September 14, 2011
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  Sanusi challenges financial institutions on Financial System Strategy 2020

  CBN governor, Malam Sanusi Lamido Sanusi, said on Wednesday in Abuja that financial institutions in the country must effectively play their roles to ensure full implementation of the Financial System Strategy 2020. FSS 2020 seeks to make...

  • Posted September 14, 2011
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• Oil Exports Earnings In Chinese Yuan: Stemming The Troubles Ahead

  NIgeria is to earn her oil exports in Chinese Yuan. This is fallout of an agreement reached by Nigeria and China. She is expected to keep between 5-10% of her foreign export earnings in the Chinese currency....

  • Posted September 14, 2011
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• AeroMechanical Services Signs AFIRS 220 Contract with Nigerian Airline

  AeroMechanical Services Ltd. has signed a $440,000 USD contract with a Nigerian airline for the Automated Flight Information Reporting System (“AFIRS(TM)”) 220. The contract requires AMA to install the AFIRS 220 on a total of five Boeing 747...

  • Posted September 14, 2011
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  Arik Air now accepts International Credit Cards Payments Online

  Arik Air has introduced the option to pay with international credit cards-visa, master card-for tickets purchased on its website. The airline’s Senior Vice President in charge of commercial, Kevin Steele, said in Lagos that international credit card payment...

  • Posted September 14, 2011
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• Rights Issue: Flour Mills Nigeria Offers Shareholders 20% Discount

  To encourage its shareholders to invest in its upcoming rights  issue, the management of Flour Mills of Nigeria Plc,  has resolved to  sell  its  shares at N62 per share indicating a discount of 20 per cent on...

  • Posted September 14, 2011
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  Proglobal International Consortium to invest $600m in power sector

  Proglobal International Consortium yesterday unfolded plans to invest $600million in the country’s power sector. The consortium comprises Finagestion – a French Utility Company, Symbion Power – a United States Board Power firm and Progblobal Power, an indigeneous firm....

  • Posted September 14, 2011
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  NICON Privatisation: Interview with Jimoh Ibrahim

  Group Managing Director of NICON Group, Dr Jimoh Ibrahim (OFR), in this interview with a group of select editors in Abuja, speaks on the Senate inquiry into the privatisation of public corporations . In what state was...

  • Posted September 14, 2011
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  Pagatech to roll out mobile money transfer nationwide by 2015

  Pagatech Limited, one of the operators issued full operating licence by the Central Bank of Nigeria recently, said it was poised to roll out secure money transfer services to Nigerians with a target to develop 30, 000...

  • Posted September 13, 2011
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• Nigeria Bonny Light crude Oil Sales for September, October to Be Delayed

  Nigerian benchmark Bonny Light crude for export in September and October will be delayed by as many as 17 days, a revised loading program obtained by Bloomberg News showed, after Royal Dutch Shell Plc declared force majeure....

  • Posted September 13, 2011
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• Nigerian index down to 2005 levels

  Nigeria’s all-shares index on Monday tumbled to its lowest since late-2009 and back to levels seen in March 2005 as investors’ jitters weighed on the market. The index fell 0.32 percent to 21,032.53 points, dragged down shares...

  • Posted September 13, 2011
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