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  • Blue chip stocks gains sustain stock market rally

    The Nigerian equities market opened the week on a positive note yesterday as the Nigerian Stock Exchange (NSE) All-Share Index or ASI appreciated by 0.30 per cent to close at 35,488.80 points, compared with the appreciation of...

    • Posted November 19, 2014
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  • NERC to clampdown on recalcitrant Discos over prepaid meters

    The Nigerian Electricity Regulatory Commission (NERC) is set to clampdown on electricity distribution companies that have failed to comply with its substitute order on meter provision, within the Credited Advance Payment for Metering Implementation (CAPMI) scheme. NERC’s...

    • Posted November 19, 2014
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  • Dangote refinery to begin operation 2018

    Indication emerged on Monday that Dangote Group’s oil refinery project for Nigeria would come on stream in 2018. The Director of Petroleum Refining, Dangote Industries, Mr. George Nicolaides, said in an interview at the Platts African Refining...

    • Posted November 19, 2014
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  • Oando grows profit by 83% to N11bn

    Oando Plc, a leading integrated energy firm yesterday reported its nine months results ended September 30, 2014, showing a growth of 83 per cent in net profit. The company, which recently acquired Nigerian assets of ConocoPhillips(COP) to...

    • Posted November 19, 2014
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  • Jonathan launches $50m Venture Capital Fund, fourth phase of YouWin

    President Goodluck Jonathan monday inaugurated a $50 million private equity fund for the expansion of business opportunities by the small and medium enterprises in order to boost job creation in the country. Jonathan also launched the fourth...

    • Posted November 19, 2014
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  • CBN meets bank MDs as naira crashes

    The naira, which has been under pressure in the last few weeks, on Monday crashed against the dollar to N173.20 at the interbank market, causing panic in the financial sector. There are also indications that this has...

    • Posted November 19, 2014
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  • Fuel subsidy to reduce by N600bn

    On the flip side of the decline in crude oil prices, which has affected the country’s revenue from oil exports, analysts expect the Federal Government’s spending on fuel subsidy to reduce by up to N600bn this year....

    • Posted November 19, 2014
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  • Smartphone usage in Nigeria still low – NCC

    The penetration of smartphones in Nigeria has been described as disappointing given the size of the country’s population and the proliferation of digital activities. The Executive Vice-Chairman, Nigerian Communications Commission, Dr. Eugene Juwah, said this at the...

    • Posted November 19, 2014
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  • We will start exporting rice in three years – FG

    Nigeria will become a net exporter of rice in the next three years, the Federal Government has said. According to the government, over N256bn has been invested in the product in the past three years. The Minister...

    • Posted November 19, 2014
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  • Stanbic IBTC may raise Tier1 Capital in 2015

    In compliance with the Basel requirements on operational risk, Stanbic IBTC (bank) could consider a tier 1 capital raise in 2015, likely via a rights issue, a report by Renaissance Capital has revealed. According to the report,...

    • Posted November 19, 2014
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  • FirstBank unveils 20 wheelchair accessible branches

    FirstBank of Nigeria Limited has said it recently designated over 20 branches with access to wheelchairs across the country. Group Managing Director/Chief Executive Officer, FirstBank, Mr. Bisi Onasanya stated this at the recently concluded FirstBank’s International Sustainability...

    • Posted November 18, 2014
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  • Lagos drags 50 firms to court for tax evasion

    The Lagos State Government on Sunday said it had begun the prosecution of over 50 corporate organisations and individuals who allegedly defaulted in paying their taxes in accordance with the state’s tax laws. The Chairman of Lagos...

    • Posted November 18, 2014
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  • FG, shareholders commend Dangote Cement for investment

    The Federal Government, stakeholders in the cement sector as well as shareholders have hailed Dangote Cement Plc over the huge investments in the production of the essential construction material as well as the recent slash in the...

    • Posted November 18, 2014
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  • Unity Bank blacklists Bulet Intenational, Kabo Air, 109 other debtors

    Unity Bank Sunday made public the names of 111 of its customers with bad loans. The bank stated in a public notice signed by its management that it decided to publish the names because the debtors failed...

    • Posted November 18, 2014
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