Latest News

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  Court orders BGL to pay First Bank N1.407bn

  A Federal High Court in Lagos has ordered BGL Plc to pay First Bank of Nigeria Limited the sum of N1.407 billion. Justice Mohammed Idris while delivering judgment in a suit filed by BGL against First Bank,...

  • Posted October 24, 2014
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  NAIC insures crops, livestock for N2.7billion

  The Nigerian Agricultural Insurance Corporation (NAIC) has announced that it has insured crops and livestock in Cross River State to the tune of N2.7 billion. The Corporation also disclosed that it has paid N23.2 million claims to...

  • Posted October 24, 2014
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  NLNG generated $30bn in 25 years – MD

  Since its incorporation in 1989, the Nigeria LNG Limited has generated over $30bn revenue for the country, the Managing Director and Chief Executive Officer of the company, Mr. Babs Omotowa, has said. The NLNG initiative has made...

  • Posted October 24, 2014
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  FG, states share $2.7bn from Excess Crude Account

  The country’s revenue fell by N99.55bn in the month of September, thereby causing the three tiers of government on Wednesday to share N2.7bn that should have been transferred to the Excess Crude Account. The Accountant-General of the...

  • Posted October 24, 2014
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  Reps to get kerosene subsidy report next week

  Members of the House of Representatives will next week know the extent of malpractices in the kerosene subsidy scheme. The House Committee on Petroleum (Downstream), chaired by Mr. Dakuku Peterside, is currently being finalised by the House...

  • Posted October 24, 2014
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  Power generating plants perform below 30% capacity – FG

  Eleven months after being run by private operators, some power generating plants in the country are performing below 30 per cent of their installed capacities, the Federal Government has said. The poor performance, it said, was largely...

  • Posted October 24, 2014
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  Cross River seals PPMC over N262m tax

  The Cross River State Government has sealed the premises of the Pipeline Products and Marketing Company (PPMC) for its alleged tax indebtedness to the state amounting to N262 million. The state Internal Revenue Service (IRS) announced that...

  • Posted October 24, 2014
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  Five firms get NSE’s approval to restructure operations

  Five companies have obtained the approval of the Nigerian Stock Exchange (NSE) to restructure their operations thereby escaping being delisted. The companies are among those approved by the Council of the NSE for delisting. However, they have...

  • Posted October 23, 2014
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  Experts foresee pressure on naira over declining crude oil prices

  The declining crude oil prices, which have continued to cause apprehension across the global market may put pressure on the ability of the Central Bank of Nigeria (CBN) to intervene in the forex market. The global crude...

  • Posted October 23, 2014
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  Shell okays Nigerian assets sale

  Royal Dutch Shell has signed the sale and purchase agreements for all the Nigerian oil assets it put up for sale following a 2013 review of its business in the country, a spokesman said on Tuesday. The...

  • Posted October 23, 2014
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  Insecurity, competition to depress banks, FMCGs Q3 earnings

  Uncertainties, which are likely to stem from the 2015 elections, insecurity in the northern part of the country and increased competition are some of the factors that will hamper the expected third quarter results of banks and...

  • Posted October 23, 2014
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  Crude oil theft now 800,000 barrels monthly – Navy

  The Flag Officer Commanding (FOC) Eastern Naval Command, Rear Admiral Charles Obiora-Medani, has disclosed that Nigeria now loses 800,000 barrels of crude oil monthly to thieves as against over two million barrels monthly at the early part...

  • Posted October 23, 2014
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  New loans must have BVN from November – CBN

  The Central Bank of Nigeria has said all new loans from Deposit Money Banks must have the Bank Verification Number as a condition precedent to drawdown, with effect from November 3, 2014. The CBN in a statement...

  • Posted October 23, 2014
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  Power firms get two-week ultimatum to meter customers

  The Nigerian Electricity Regulatory Commission on Tuesday said power distribution companies had been given a two-week ultimatum to provide meters for customers who had paid for them under the Credited Advance Payment for Metering Implementation scheme. According...

  • Posted October 23, 2014
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