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  • Power stations privatisation: Talks between Ethiope, BPE collapse

    Talks aimed at resolving the dispute between Ethiope Energy Limited and the Bureau of Public Enterprises (BPE)  ‎over the bid process for three National Integrated Power Plants (NIPPs) power stations have collapsed. Wednesday, counsel to Ethiope Energy...

    • Posted May 1, 2014
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  • NSE market indices record marginal growth

    Transactions on the Nigerian Stock Exchange (NSE) on Wednesday closed flat with the All-Share Index recording a marginal growth of 0.01 per cent after dropping for two consecutive days. The News Agency of Nigeria (NAN) reports that...

    • Posted April 30, 2014
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  • NERC stops payment of electricity fixed charge in areas without power supply

    The Nigerian Electricity Regulatory Commission (NERC) on Wednesday in Abuja directed electricity Distribution Companies (DISCOS) to stop collecting N750 monthly fixed charge in any area without power supply for 15 days in the month. The fixed charge...

    • Posted April 30, 2014
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  • UBA realigns to improve operational efficiency

    In pursuit of its Project Alpha plans, United Bank for Africa (UBA) Plc has announced key appointments to drive its quest for industry leadership by 2015. UBA’s Project Alpha is a 3-year road map of key transformation...

    • Posted April 30, 2014
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  • Guinness’ profit declines 30% in nine months

    Guinness Nigeria Plc Monday announced its results for the nine months ended March 31, 2014, showing a decline of 30 per cent profit before tax. Analysts said with the decline in bottom-line for the nine months, shareholders...

    • Posted April 30, 2014
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  • Total directs Hyundai to comply with Nigerian Content Law

    Following the violation of the Nigerian Content Act  by a Korean contractor, Hyundai Heavy Industries (HHI), in the execution of Ofon-2 Project, Total Exploration and Production (E&P) Nigeria Limited has directed the Korean firm to ensure full...

    • Posted April 30, 2014
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  • Egbin power plant loses N5.6bn to gas shortage

    The Chief Executive Officer, Egbin Power Plc, Mr. Mike Uzoigwe, has said that the 1,320-megawatts plant is losing N8.134 per kilowatt hour to gas shortage and other challenges and that this amounts to about N5.6bn annually. He...

    • Posted April 30, 2014
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  • CPC clamps down on Aero over violation of passenger rights

    The Consumer Protection Council (CPC) yesterday announced that it had brought its regulatory powers  to bear against Aero Contractors Airline, having found it culpable of gross disregard of the rights of passengers on its November 8, 2013...

    • Posted April 30, 2014
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  • We have not suspended work on second Niger Bridge – Minister

    Minister of Environment, Mrs. Laurentia Mallam, yesterday said contrary to speculations and media reports, her ministry had not stopped work on the ongoing construction of the second Niger Bridge. Media reports had earlier quoted the minister as...

    • Posted April 30, 2014
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  • NHIS, MTN, others develop mobile health insurance

    The Nigerian National Health Insurance Scheme, MTN Nigeria and Salt & Einstein MTS, a mobile insurance services aggregator, have developed a mobile-based universal health insurance service known as Y’ello Health. A joint statement by the firm on...

    • Posted April 30, 2014
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  • Vodacom, NCC get BoICT recognision

    Vodacom Business Nigeria’s contribution to business connection and enablement in Nigeria has been recognised at the Beacon of ICT Awards in Lagos. Vodacom emerged winners in enterprise solutions provider of the year and the cloud service provider...

    • Posted April 30, 2014
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  • Monetary policy limiting bank loans – Otti

    The Group Managing Director, Diamond Bank Plc, Dr. Alex Otti, says the Central Bank of Nigeria’s monetary policy is currently “very tight” and is limiting banks capacity to give out more loans. Specifically, he said with CBN’s...

    • Posted April 30, 2014
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  • Nokia names CEO, restores profitability after Microsoft deal

    Nokia announced Tuesday that the former head of Solutions and Networks (NSN), Rajeev Suri, will take over the helm at the Finnish telecommunications giant. The announcement came just days after Nokia completed the sale of its devices...

    • Posted April 30, 2014
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  • Due process: Jonathan approves debarment of fraudulent, unregistered contractors

    President Goodluck Jonathan has approved the debarment of contractors, consultants and service providers who violate the public procurement laws. Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Mohammed Adoke, announced the president’s approval yesterday in...

    • Posted April 30, 2014
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