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  • Stanbic IBTC granted Mobile Payment Licence

    The Central Bank of Nigeria (CBN) has granted a licence to Stanbic IBTC Bank, a member of Standard Bank Group, to operate mobile payment services in the country, a development that will give further impetus to Nigeria’s drive towards a cashlesseconomy. The bank...

    • Posted September 6, 2011
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  • Lagos-Ibadan Expressway: Bi-Courtney to build 14 pedestrian bridges

    Bi-Courtney Highway Services Nigeria Ltd. said on Tuesday that it would to ease crossing after the reconstruction of the Lagos-Ibadan Expressway. Mr Dipo Kehinde, the company’s spokesman, who disclosed in Lagos, said the bridges would make crossing...

    • Posted September 6, 2011
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  • Afribank, Bank PHB, Spring Bank Delisted From Stock Exchange

    Afribank Plc, Bank PHB Plc (PLATINUM) and Spring Bank Plc (SPRINGBK), lenders that Nigeria nationalized last month, were delisted from the country’s bourse on Aug. 5, the Lagos- based stock exchange said in a statement on its website today....

    • Posted September 6, 2011
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  • Nigeria’s Declining Global Competitiveness [Editorial]

    The World Economic Forum, an independent international organization in its global competitiveness ranking shows that Nigeria’s competitiveness dropped from 99 in 2010 to 127 in 2011, in a survey of 139 countries undertaken. The poor rating was...

    • Posted September 6, 2011
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  • Naira loses 41 kobo at WDAS

    The naira weakened to N152.81 to the dollar on the official market (Wholesale Dutch Auction System) yesterday, down from N152.40 to the dollar at Friday’s close. The naira, which is exchanged at N148.18 at the beginning of...

    • Posted September 6, 2011
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  • IFC Invests $10.5m in Interswitch to Expand Financial Service

    IFC, a member of the World Bank Group, announced today an investment of $10.5 million in electronic payments company Interswitch Limited to help consumers at all income levels in Nigeria and other parts of Africa gain improved,...

    • Posted September 6, 2011
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  • Sofialys Partners with Terragon Nigeria for Mobile Advertising in Africa

    Sofialys, Europe’s leading Mobile Marketing company is pleased to announce that it has inked a partnership with top Nigerian New Media Group Terragon Limited, in a bid to expand its global presence. Under the terms of the...

    • Posted September 5, 2011
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  • CBN to hold 5-10 pct of forex in Chinese yuan

    Nigeria’s central bank is diversifying its foreign exchange reserves away from the U.S. dollar and will hold between 5 to 10 percent of them in Chinese yuan, central bank governor Lamido Sanusi told CNBC news on Monday....

    • Posted September 5, 2011
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  • A 100 Days Tarred By Terrorism [Editorial]

    Again Jos, a beehive of vacation and tourist activities was in the news. This time a family of eight was brutally sent to their early grave. It is not news that this happened. But what is news...

    • Posted September 5, 2011
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  • Oando pays N5.4b dividend to shareholders

    Shareholders of Oando PLC, sub-Saharan Africa’s largest integrated energy group with a primary and secondary listing on the Nigerian Stock Exchange and Johannesburg Stock Exchange, has received a total dividend payout of N5.4 billion on August 31, this year....

    • Posted September 5, 2011
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  • All Set for Offshore Europe oil and gas conference in Aberdeen

    ABERDEEN CITY and Shire will host a wealth of local organisations and businesses at Offshore Europe 2011 this week. This year’s Offshore Europe oil and gas conference and exhibition runs from Tuesday to Thursday at the Aberdeen...

    • Posted September 4, 2011
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  • NBC Appoints Segun Ogunsanya As MD

    Nigerian Bottling Company Plc has appointed Mr. Segun Ogunsanya as the new Managing Director. His appointment took effect from September 1. In a statement signed by the Head, Public Affairs and Communications, Mrs. Adeyanju Olomola, SegunOgunsanya, joins...

    • Posted September 4, 2011
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  • Ozza Joint Ventures plans $100m oil refinery in Abia

    A consortium of indigenous oil refinery companies known as Ozza Joint Ventures Oil Field Limited is to start refining crude oil in Umuokwo, Ukwa West of Abia State with a whopping sum of $100 million. The consortium,...

    • Posted September 3, 2011
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  • Union Bank Shareholders to Meet Sept. 30 on core Investor

    Union Bank Nigeria Plc (UBN), a lender bailed out by the central bank in 2009, said shareholders would meet on Sept. 30 to approve an agreement between the bank and its core investor, African Capital Alliance Consortium....

    • Posted September 3, 2011
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