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  • Withdrawal of private sector deposits poses threat – Analyst

    The Managing Director, Dunn Loren Merrifield Asset Management and Research Company, Mr. Tola Odukoya, says the recent withdrawal of about N400bn from the banking system by the Central Bank of Nigeria may affect the financial markets. Specifically,...

    • Posted April 25, 2014
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  • ABU develops technology for heavy crude refining

    The Petroleum Technology Development Fund has announced a breakthrough accomplished by the Ahmadu Bello University, Zaria, in the local refining of heavy crude for the production of petroleum products using locally sourced materials. According to the PTDF,...

    • Posted April 25, 2014
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  • Nebo to inaugurate power cable plant

    The Minister of Power, Prof. Chinedu Nebo, will on Saturday inaugurate a new power cable plant by Cutix Plc at Umuanuka, Otolo, Nnewi. The Founder, Cutix Plc, Dr. Gilbert Uzodike, co-founder, Ambassador Odi Nwosu, and the Chairman,...

    • Posted April 25, 2014
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  • Seplat’s IPO a win-win for Nigerian investors – Ebi

    Following the listing of Seplat Petroleum Plc on the Nigerian Stock Exchange (NSE), the Chief Executive Officer, FutureView Financial Services Limited, Elizabeth Ebi, has declared that earnings accruable from Nigeria’s lucrative oil exploration and production sector will...

    • Posted April 25, 2014
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  • Sterling Bank Rrecords N3.5bn profit in first quarter

    After recording an impressive performance for 2013, Sterling Bank Plc has consolidated on the performance with improved results for the first quarter (Q1)ended March 31, 2014. Despite the industry headwinds, Sterling Bank    Tuesrday reported gross earnings of ...

    • Posted April 24, 2014
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  • Dangote Cement keeps shareholders happy with impressive dividend payout

    Having recorded a revenue of N386.2 billion in 2013 and a profit after tax of N201billion, Dangote Cement Plc has recommended a record N119 billion dividend payout to shareholders, writes Goddy Egene Operating in the Nigerian economy...

    • Posted April 24, 2014
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  • Banks must reduce cash handling cost – CeBIH

    The Chairman, Committee of e-Banking Industry Heads, Mr. Chuks Iku, says the cost of handling cash transaction is very huge to banks, insisting that there is need to reduce the amount in coming months. Iku, who spoke...

    • Posted April 24, 2014
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  • Wema Bank posts N591m profit in three months

    Wema Bank Plc yesterday announced a profit before tax of N590 million for the first quarter(Q1) ended March 31, 2014, compared with a loss of N853 million in the corresponding period of 2013.  The result showed that...

    • Posted April 24, 2014
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  • FirstBank leads corporate sector as Nigeria hosts the World Economic Forum on Africa

    As Nigeria continues to play a crucial role in advancing the continents growth through creation of business opportunities and enabling environment, First Bank of Nigeria Limited, Nigeria’s Number One Banking Brand has once again pledged its support...

    • Posted April 24, 2014
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  • Ten stocks account for 71% of NSE capitalisation

    Ten stocks account for N9.173 trillion or 71 percent of the market capitalisation of the Nigerian equities market, THISDAY checks have revealed. The market capitalisation of the Nigerian Stock Exchange (NSE), which measures the value of stocks...

    • Posted April 24, 2014
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  • Senate committee chides Discos for poor power supply

    The Chairman, Senate Committee on Power and Metallurgy, Senator Philip Aduda, has expressed dismay over the epileptic power supply in the country and lamented that despite the completion of the privatisation of the power sector last year,...

    • Posted April 24, 2014
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  • Strike looms in power firms over job losses

    Investors in the power sector may be in for an industrial crisis as labour unions in the industry have threatened to fight moves by the firms to sack thousands of their workers. The unions specifically told our...

    • Posted April 24, 2014
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  • NPA transfers 2,279 overtime containers to Ikorodu

    The Nigerian Ports Authority has said it has transferred 2,279 twenty-foot Equivalent Unit overtime containers from the Lagos Port Complex, Apapa, to the Ikorodu Lighter Terminal. The Assistant General Manager, Public Affairs, NPA, Mr. Musa Illiya, said...

    • Posted April 24, 2014
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  • Agent blames Customs for inappropriate duty valuation

    A licensed customs agent, Mr. Uchu Block, has blamed the Nigeria Customs Service for inappropriate duty valuation on imported goods. Block made this known in an interview with the News Agency of Nigeria on Tuesday in Lagos. He said...

    • Posted April 24, 2014
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