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  NB gets approval to merge with Consolidated Breweries

  Nigerian Breweries (NB) monday disclosed that it has secured regulatory approval to merge its operations with rival Consolidated Breweries, majority owned by its parent firm Heineken. Heineken, the majority shareholder in Nigerian Breweries, acquired a controlling stake...

  • Posted October 15, 2014
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  Nigeria will lose Africa’s top oil producer status – IEA

  Nigeria will be overtaken as Africa’s largest crude oil producer by Angola from around 2016 to the early 2020s, as crude theft and regulatory uncertainties persist in the Nigerian oil industry, the International Energy Agency says in...

  • Posted October 15, 2014
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  Customs generates N249.3bn in third quarter

  The Nigeria Customs Service (NCS) has said it collected N249.3 billion revenue from duties and levies in the third quarter of 2014. This is contained in the Service’s “Monthly Revenue Report” made available to the News Agency...

  • Posted October 15, 2014
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  NNPC loses millions of dollars on crude oil exploration in Chad Basin

  The Nigerian National Petroleum Corporation (NNPC) has lost millions of dollars in its fruitless search for crude oil in the Chad Basin, without any strong indications that the efforts, which have been described as “political” would yield...

  • Posted October 15, 2014
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  Access Bank shareholders approve N68bn rights issue

  The shareholders of Access Bank Plc have approved the proposal by the bank’s Board of Directors to raise additional equity capital of up to N68bn by way of rights issue. The approval was part of special resolutions...

  • Posted October 15, 2014
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  FG opens up power market for competition

  After series of postponements, all is now set for the Federal Government to declare the Transitional Electricity Market, which will mark the commencement of full competition in the industry. One significant change under the new arrangement is...

  • Posted October 15, 2014
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  Government’s deficit rose to N329bn in Q2 – CBN

  The Federal Government’s fiscal operations for the second quarter of this year resulted in a deficit of N329.37bn, compared with the quarterly budget and the preceding quarter’s deficit of N241.1bn and N202.7bn, respectively. During the period, the...

  • Posted October 15, 2014
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  FG to raise N73bn through bonds

  The Federal Government has issued for subscription three set of re-opening bonds in a move to raise up to N73.6bn, according to a statement by the Debt Management Office. The DMO said it would raise N18.61bn through...

  • Posted October 15, 2014
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  InvestmentOne acquires Kakawa Asset Management

  InvestmentOne Financial Services Limited, a financial services group has expanded its operations with the acquisition of Kakawa Asset Management Ltd (KAML), a former subsidiary of Kakawa Discount House Limited. A company statement yesterday explained that with three...

  • Posted October 15, 2014
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  Investors reap returns above 50% in six stocks

  Despite the lacklustre performance of the Nigerian equities market so far this year, about six companies have fetched their investors capital appreciation of over 50 per cent, THISDAY investigations have revealed The aggregate growth of the equities...

  • Posted October 14, 2014
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  BOI disburses N692bn loans in 10 years

  The Managing Director, Bank of Industry (BOI), Alhaji Rasheed Olaoluwa, yesterday said the bank had disbursed N692 billion as loans to industrialists nationwide in the past 10 years. Olaoluwa made this known to journalists in Ilorin during...

  • Posted October 14, 2014
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  External reserves may drop by $4.44 bn

  Economists are of the view that Nigeria’s foreign reserves will be seriously depleted in the coming months if the fall in global crude oil prices continues, thus posing a threat to the economy, OKECHUKWU NNODIM writes The...

  • Posted October 14, 2014
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  Swiss firms demand forensic audit on change of ownership of Union Bank

  Two Swiss firms, GG Private Limited and Rainmaker BV Limited, have requested a Federal High Court in Abuja to order a forensic audit of the change of ownership of Union Bank of Nigeria Plc. The change of...

  • Posted October 14, 2014
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  British Court blocks Shell agreement on Rivers community

  A High Court in London has blocked an agreement between the oil giant, Shell Petroleum Development Company and a UK law firm, CW Law, in relation to thousands of residents of Bodo community in Rivers State, which...

  • Posted October 14, 2014
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