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  • PayPal expands payment services to Nigeria, 9 other market

    PayPal is set to enter Nigeria and nine new countries this week. A total of 80 million internet users stand to gain access to PayPal global services. They include those in five European markets – Belarus, Macedonia,...

    • Posted June 18, 2014
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  • Interswitch launches transport solution at MMA2

    Interswitch Transnational, one of the leading pan-African integrated payments companies, has launched its new SmartMove solution at Murtala Muhammed Airport Terminal 2 (MMA2). Interswitch said in a statement that SmartMove has been deployed at the airport as...

    • Posted June 18, 2014
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  • Delegates urge Jonathan to declare emergency in power sector

    Delegates at the ongoing National Conference on Monday in Abuja voted that President Goodluck Jonathan should declare a state of emergency in the nation’s power sector to complement the efforts of the late President Umaru Yar’Adua. They...

    • Posted June 18, 2014
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  • Suspending new power tariff will kill sector – NERC

    The Chairman, Nigerian Electricity Regulatory Commission, Dr. Sam Amadi, has raised the alarm that any attempt made to suspend the planned review of the electricity tariff regime will result in the death of the power sector. Amadi...

    • Posted June 18, 2014
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  • Solid minerals sector to receive more funds – RMAFC

    The Revenue Mobilisation Allocation and Fiscal Commission has pledged more funding for the development of the solid minerals sub sector of the Nigerian economy. The Chairman of the commission, Mr. Elias Mbam, made the pledge in Abuja...

    • Posted June 18, 2014
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  • Bread, meat prices push inflation to 8% – NBS

    The National Bureau of Statistics on Monday released the Consumer Price Index for the month of May, stating that increases in the prices of bread, meat and cereals had pushed up the country’s inflation rate to eight...

    • Posted June 18, 2014
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  • Swift Oil acquires Chorus Energy

    A major downstream player in Nigeria’s oil and gas industry, Swift Oil Limited, has made inroads into the upstream sector through the acquisition of Chorus Energy Limited, a marginal field player. Swift Oil Limited was registered with...

    • Posted June 18, 2014
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  • FBN Holdings moves to acquire merchant banking licence

    FBN Holdings Plc says it is making arrangement to acquire a merchant banking licence through their Investment Banking and Management subsidiary. FBN Holdings Group Chief Executive Officer Mr Bello Maccido made the announcement on Monday in Lagos...

    • Posted June 17, 2014
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  • Suspected vandals trigger leakage in Shell’s oil field

    The activities of suspected vandals at Shell’s Okordia Manifold at Ikarama community, Bayelsa, has triggered leakage of crude into the surroundings near the facility reports News Agency of Nigeria (NAN). Community sources at Ikarama in Yenagoa Local...

    • Posted June 17, 2014
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  • UBA launches new banking platform for companies

    The United Bank for Africa (UBA) Plc at the weekend said it has launched the ‘U-Direct Corporate,’ a web-based banking platform for cash management. It explained that the transaction services platform was designed to help small and...

    • Posted June 17, 2014
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  • Market capitalisation dips by N22bn on NSE

    The market capitalisation of the Nigerian Stock Exchange (NSE) depreciated by N22 billion or 0.16 per cent on Monday, as major capitalised stocks recorded price losses. The News Agency of Nigerian (NAN) reports that the market capitalisation...

    • Posted June 17, 2014
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  • Fuel scarcity looms as independent narketers in NUPENG threaten strike

    Members of the independent marketers’ branch of the Nigerian Union of Petroleum Natural Gas Workers (NUPENG) rose from their national executive council meeting in Ibadan, the Oyo State capital, at the weekend with a declaration that strike...

    • Posted June 17, 2014
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  • World Bank, ADB laud Nigeria’s power sector privatisation

    The World Bank on Sunday lauded the Federal Government’s successful completion of the power sector privatisation, urging other African countries to borrow a leaf from the exercise. The African Development Bank also commended the President Goodluck Jonathan’s...

    • Posted June 17, 2014
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  • Three Nigerian banks win error-free processing award

    Ecobank Nigeria, Fidelity Bank Plc and Stanbic IBTC were at the weekend presented with the Deutsche Bank US Dollar Straight Through Processing (STP) excellence award for 2013. The STP or Error-free processing award is given by Deutsche...

    • Posted June 17, 2014
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