Latest News

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  N3 trillion: Official Cost of bank bailout – CBN

  Over N3 trillion has been spent in resolving the  banking crises that have seen 10 banks undergoing rigorous reforms including change of leadership in eight, the Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN), Dr. Kingsley...

  • Posted September 9, 2011
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  MTN launches N1b Mega Reward Scheme

  MTN Nigeria Plc, a leading telecom company in the country has launched N1 billion Mega Reward Scheme to reward its teaming customers. The reward scheme is part of the company’s 10 years anniversary celebration in the country...

  • Posted September 9, 2011
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• Nigeria loses N775bn yearly to non-metering of oil wells – Aganga

  Minister of Trade and Investment, Dr Olusegun Aganga yesterday said Nigeria loses N775billion annually over non-metering of oil wells and inaccuracy ship-to-shore loading and offloading of vessels Dr Aganga, who made this known while speaking on the...

  • Posted September 9, 2011
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  Union Bank: New Investors to get 60 pct

  Nigeria’s Union Bank said on Friday its $750 million recapitalisation deal will give a group of institutional investors led by African Capital Alliance (ACA) private equity a 60 percent stake in the troubled lender, while existing shareholders...

  • Posted September 9, 2011
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• Centum puts $2m into African Capital Alliance

  Centum Investment has put in $2 million (Sh180 million) into African Capital Alliance, a Nigerian private equity fund that signed recapitalisation agreement with Union Bank . The investment is in line with Centum’s push for geographical expansion....

  • Posted September 8, 2011
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  LAGOS STATE TENANCY LAW AND MATTERS ARISING

  The euphoria that greeted the passage of the Lagos State tenancy bill has not died. It has been praised as one of the finest people-oriented efforts in the country. We applaud the Fashola-led government effort to addressing...

  • Posted September 8, 2011
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  Power Projects : PPMC raises concerns over Gas Supplies to power stations

  The Minister of Communication, Labaran Maku, who echoed the findings of the Presidential Project Monitoring Committee in its submission to the FEC, said what is urgently needed, is for the government to work urgently on gas supply....

  • Posted September 8, 2011
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• Nigeria Reserves: CBN Plans to Get Yuan to 10%

  CBN plans to reach a target of holding 10 percent of Nigeria reserves in yuan “as soon as possible,” said central bank Governor Lamido Sanusi. The nation plans to start holding the Chinese currency next quarter, predicting...

  • Posted September 8, 2011
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• Interest Rate May Rise if Inflation Fails to Stay Below 10% – Sanusi

  Nigeria’s central bank Governor Lamido Sanusi said policy makers are ready to keep raising interest rates if inflation fails to remain below 10 percent. The central bank of Africa’s biggest oil producer is “not celebrating yet” after inflation...

  • Posted September 8, 2011
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  CAMAC Energy Appoints Babatunde Omidele as Senior Vice President

  CAMAC Energy Inc., a U.S.- based energy company engaged in the exploration, development and production of oil and gas, today announced the appointments of Babatunde (“Segun”) Omidele as Senior Vice President, Business Development and New Ventures. Mr....

  • Posted September 7, 2011
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  FG, SPURRING STARTUPS AND LESSONS FROM CHINA

  In the 70s, China needed a change. It could not come fast enough. Their challenge? Transform the world’s largest country into a real-time, go-fast economy-with major internal structural changes. From the beginning, she worked with the West...

  • Posted September 7, 2011
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  FG to conclude PHCN privatisation next year – Barth Nnaji

  The Federal Government would next year conclude the final phase of privatisation of the Power Holding Company of Nigeria, the minister of power said on Tuesday. Prof. Barth Nnaji , who disclosed this in Abuja during the...

  • Posted September 7, 2011
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• MC Endeavors, Inc. Signs Partnership with FDL Nigeria for MCE-LBI Renewable products

  MC Endeavors Inc. has inked a strategic partnership with Fiscal Dynamics Ltd. for distribution of MCE-LBI Renewable products throughout the Six (6) Geo-Political Zones of the Federal Republic of Nigeria. Lagos State, Nigeria-based Fiscal Dynamics has been...

  • Posted September 7, 2011
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  Lagos Rail: Refurbised Toronto Subway Cars bound for Lagos

  Just as the new Toronto Rocket trains start rolling in the subway tunnels, the TTC’s old cars are about to start moving right out of the city. A company called Eko Rail has a deal to buy...

  • Posted September 7, 2011
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