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  • IFC invests N800m in AB Microfinance Bank

    The International Finance Corporation (IFC), a member of World Bank Group, has signed an agreement to provide N800 million ($5 million) to AB Microfinance Bank. IFC said that the loan would help the Micro, Small and Medium...

    • Posted February 20, 2014
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  • Bitflux offers N3.8bn to win the 2.3GHz spectrum band

    Bitflux Communications Ltd. on Wednesday in Abuja won the bid for the 2.3GHz spectrum for broadband deployment at the cost of 23.251 million dollars (N3.8 billion). The News Agency of Nigeria (NAN) reports that the company, a...

    • Posted February 19, 2014
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  • Akwa Ibom to experience uninterrupted power supply soon – Akpabio’s aide

    Akwa Ibom would soon begin to experience uninterrupted power supply with the readiness of the Ibom Power Plant, a state government official has said. Dr Victor Udoh, Gov. Godswill Akpabio’s Senior Special Assistant on Power, made the...

    • Posted February 19, 2014
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  • Shippers Council threatens shipping companies, terminal operators over illegal charges

    Nigerian Shippers Council (NSC) has threatened to sanction erring shipping companies and terminal operators for increasing their service charges, including Deposit processing and storage charges without seeking approval from the Federal Government. In a warning notice which...

    • Posted February 19, 2014
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  • Work on N100bn 2nd Niger Bridge commences next month

    Work  on the proposed  N100 billion Second Niger Bridge is to commence next month. Already, ministry officials said that preparations were in top gear for President Goodluck Jonathan to perform the ground-breaking ceremony on March 15, for work...

    • Posted February 19, 2014
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  • Oil marketers deny bribing NNPC officials

    National President of Independent Petroleum Marketers  Association of Nigeria, IPMAN, Alhaji Aminu  Abdulkadir has denied allegations that its members bribed officials of the oil ministry, describing the allegation as false and politically motivated. Abdulkadir also warned against...

    • Posted February 19, 2014
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  • IPMAN flags off kero-direct at N50 per litre

    In ensuring effective distribution of Kerosene product to every nook and crannies of the country, the Western Zone of the Independent Petroleum Marketers Association of Nigeria, IPMAN, has commenced sale of kerosene at N50 per liter in...

    • Posted February 19, 2014
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  • AMCON to pay N1.6tn interest on N4tn debt

    The Managing Director, Asset Management Corporation of Nigeria, Mr. Mustafa Chike-Obi, on Monday said the agency would pay N1.6tn as interest on the N4tn used to purchase the bad loans that led to the collapse of some...

    • Posted February 19, 2014
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  • FIRS introduces new tax regime

    The Federal Inland Revenue Service has introduced a new tax regime for multinationals and enterprises operating in the country. The Acting Executive Chairman, FIRS, Mr. Kabir Mashi, gave the indication on Monday, adding that the development involved...

    • Posted February 19, 2014
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  • Private investors generated 1,546MW electricity in 2013 – FG

    A total of 1,546 megawatts of electricity was generated by private investors in the power sector in 2013, the Federal Government has said. According to the government, the planned target for the private investors during the period...

    • Posted February 19, 2014
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  • NNPC blames kerosene scarcity on product diversion, others

    The Nigerian National Petroleum Corporation has said that diversion of kerosene to neighbouring countries, industrial use, aviation fuel, sharp practices by middlemen and pipeline vandalism are reasons why the product is not readily available for domestic consumption....

    • Posted February 19, 2014
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  • SIM registration: NCC says agents using pictures of goats

    Mr Efosa Idehen, the Head, Compliance, Monitoring and Enforcement of Nigeria Communication Commission, on Monday said some SIM card registration agents were still using the pictures of goats and foodstuff instead of human beings. Idehen, who disclosed...

    • Posted February 18, 2014
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  • Shale: KPMG warns FG that Nigeria’s economy is at risk

    KPMG Professional Services has warned that the discovery and exploration of Shale oil and gas across the globe will put Nigeria’s economy at serious risk, unless the country is able to churn out policies that will bring...

    • Posted February 18, 2014
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  • VConnect pledges continue support for SMEs

    Leading online business directory, VConncet has pledged continue support for the promotion of Small and Medium Enterprises, SMEs, in Africa as it plans to extend it reach to Ghana. Since its introduction in 2011, VConnect has revolutionize...

    • Posted February 18, 2014
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