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  • Power investors jittery as performance ultimatum approaches

    Investors in the privatised power firms and the Federal Government may be heading for a showdown as the deadline for the improvement of electricity supply to consumers ends at the end of this month without much progress...

    • Posted June 26, 2014
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  • New capital base: BDCs seek deadline extension

    Some Bureau De Change (BDC) operators yesterday urged the Central Bank of Nigeria (CBN) to extend the deadline for the new capital requirement released for the industry. The BDCs operators, who pleaded anonymity due to what some...

    • Posted June 26, 2014
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  • NSE moves 622.377m shares as index improves further by 0.39%

    Investors on the Nigeria Stock Exchange (NSE), on Tuesday in Lagos traded a total of 622.377 million shares worth N7.76 billion in 7,921 deals. The News Agency of Nigeria (NAN) reports that the volume represented an increase...

    • Posted June 25, 2014
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  • Cashless policy: CBN gives one-year waiver on withdrawal charges in 30 states

    The Central Bank of Nigeria has granted one year withdrawal waiver charges on individual and corporate accounts in the remaining 30 states which will implement the cashless policy on July 1. This is contained in a statement...

    • Posted June 25, 2014
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  • UBA cards now accepted on PayPal

    The United Bank for Africa (UBA) Plc has announced that its debit and prepaid cards are now accepted on the PayPal platform. PayPal is one of the world’s largest online payment platforms which allow individuals and businesses...

    • Posted June 25, 2014
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  • Airport rehabilitation: Minister orders FAAN to terminate unsatisfactory contracts

    The supervising Minister of Aviation, Dr. Samuel Ortom, yesterday ordered the Federal Airports Authority of Nigeria (FAAN) to terminate the contracts of some contractors handling the projects at various airports in the country whose work did not...

    • Posted June 25, 2014
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  • FG spends N47bn to service external debt

    The Federal Government spent the sum of $297.33m (N47.57bn) in the 2013 fiscal period to service debts owed multilateral institutions, documents obtained from the Budget Office of the Federation have revealed. The Budget Office, in its 2013...

    • Posted June 25, 2014
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  • BPE urges power firms to liaise with security agencies for safeguard of facilities

    The Director General of the Bureau of Public Enterprises (BPE), Benjamin Dikki has urged owners of the Power Holding Company of Nigeria (PHCN) Successor Companies (SCs) to liaise with security agencies in the country to check the...

    • Posted June 25, 2014
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  • Niger Delta community rejects Shell’s $51m compensation

    A London-based law firm, Leigh Day, representing about 15,000 fishermen who dragged Royal Dutch Shell to a British court, has stated that the fishermen from Bodo community in Gokana Local Government of Rivers State have rejected an...

    • Posted June 25, 2014
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  • Nigerians groan as power generation drops by 1,100MW

    The power supply situation in Lagos and other parts of the country has gone very bad in the past five days, with households and businesses experiencing hours of blackout. In the intervening period, some areas have yet...

    • Posted June 25, 2014
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  • World Bank pledges to support Nigeria’s power sector

    The World Bank has pledged continued support for the development of Nigeria’s power sector following its successful privatisation. The pledge, according to a report by theNews Agency of Nigeria on Monday, was contained in a statement issued by...

    • Posted June 25, 2014
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  • NCC to set up centre for multimedia production

    The Nigerian Communication Commission plans to establish a centre of excellence that will build the capacity of the country in multimedia productions The Executive Vice Chairman of NCC, Dr. Eugene Juwah, disclosed this at the third edition...

    • Posted June 25, 2014
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  • Bayelsa seaport to cost N150bn – Dickson

    Governor of Bayelsa State, Mr. Seriake Dickson, says his administration will spend N150bn to develop Agge Deep seaport in Ekeremor Local Government Area of the state. Dickson made this known during the state PDP Executive Committee meeting...

    • Posted June 25, 2014
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  • General Electric deploys 75mw gas turbines to PH refinery

    As part of the efforts to overcome power outages at Port Harcourt Refinery, General Electricity has supplied GEL Utility Limited with three 25-megawatt (MW) trailer-mounted TM2500+ aero-derivative gas turbines to generate uninterrupted power at the refinery. The...

    • Posted June 25, 2014
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