Latest News

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  NSE to slash sectors to 11, proposes two-market structure

  The Nigerian Stock Exchange, NSE, is set to undertake a restructuring of the secondary segment of the capital market, reducing the number of sectors to 11 from the present 33 and collapsing the three markets – Equities,...

  • Posted July 19, 2011
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• Nigerian Inflation Slowed to 10.2% in June as Naira’s Gains Curb Imports

  Nigerian inflation slowed to 10.2 percent in June as the naira gained to a four-month high against the dollar, curbing the cost of imported food in Africa’s most- populous nation. The inflation rate fell from 12.4 percent...

  • Posted July 19, 2011
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  Oceanic Bank of Nigeria Advances on Possible Takeover by Diamond Bank

  Oceanic Bank International Plc (OCEANIC), a Nigerian lender rescued by the central bank in 2009, rose the most in almost nine months after Diamond Bank Plc (DIAMONDB)’s finance chief said it was in “tentative” talks to acquire...

  • Posted July 19, 2011
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• An Africa-Focused Mutual Fund Outperforming Its ETF Peers

  By Ryan Hoover Few mutual funds consistently beat the market because their fees tend to counteract any expertise that their managers bring to the table. But if consistent outperformance through active management is possible, it’s most likely...

  • Posted July 19, 2011
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• Minimum Wage: Governors Consider Staggered Payment

  Governors are considering the option of a staggered payment of the N18,000 minimum wage to their workers to douse the tension already generated by the National Minimum Wage Act, Bauchi State Governor, Malam Isa Yuguda, has said....

  • Posted July 19, 2011
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• No going back on September recapitalisation deadline for sick banks

  THE Central Bank of Nigeria (CBN) has reiterated that the September 30 deadline given to the eight rescued banks to recapitalise is sacrosanct, stressing that it will stop the interbank guarantee to the affected banks at the...

  • Posted July 19, 2011
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  UBA restructures into a holding company, announces key appointments

  United Bank for Africa Plc (UBA) on Monday announced steps to reorganise its operations into a Holding Company following the approvals-in-principle from the Central Bank of Nigeria (CBN) and the bank’s board, and is aimed at strengthening...

  • Posted July 19, 2011
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  Master Secret of Influence in Leadership

  Editor’s note: This guest post is written by Ayo Fadumiye, Principal Consultant, LEADERSHIP edge Consult. You can  find Ayo on Facebook, Twitter, Email and Skype I welcome you to this life changing and thought provoking column packaged to help you to discover,...

  • Posted July 18, 2011
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  PENGASSAN threatens strike over minimum wage

  Nigeria’s senior oil workers’ union PENGASSAN said it would join a three-day strike this week, including shutting down oil and gas installations, after it said the government and private sector employers failed to implement a minimum wage...

  • Posted July 18, 2011
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  Nigeria Surpassed Iran as OPEC Second-Largest Exporter

  Nigeria, Africa’s top oil producer, surpassed Iran as the Organization of Petroleum Exporting Countries’ second-largest exporter in 2010 as security improved in the African nation and as Iran used more crude at home. Nigeria shipped 2.464 million...

  • Posted July 18, 2011
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  Sale of Nigeria’s Nitel bogs down in confusion

  The sale of Nitel, Nigeria’s incumbent telecom operator, has bogged down in confusion following the failure by Omen International Consortium to pay a US$105 million bid security to the Bureau of Public Enterprise. The sale of Nitel,...

  • Posted July 18, 2011
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  Greek oil tanker hijacked off Nigerian coast

  Armed men hijacked a Greek oil tanker off the coast of Nigeria at the weekend and took the 20 crew-members hostage, Greek port police told AFP on Monday. “We learned today (Monday) that the oil tanker ‘Aegean...

  • Posted July 18, 2011
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• Procter and Gamble Launches Oral-B Pro-Health Toothpaste in Nigeria

  The manufacturing company Procter and Gamble introduced Oral-B Pro-Health toothpaste in Nigeria. The product was launched after a 15 years research, which assured it beneficial to users. The Managing Director, Procter and Gamble, Nigeria, Mr. Manoj Kumar...

  • Posted July 18, 2011
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  CBN Extends Credit Guarantee for 3 Banks

  Nigeria’s central bank extended its inter-bank credit guarantee for three bailed out banks until the end of December, according to its notice published today in Lagos-based Punch newspaper. The guarantees for Intercontinental Bank Plc, Union Bank Plc...

  • Posted July 18, 2011
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