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  • 75% Nigerians to be on national grid by 2020 -FG

    The Federal Government on Monday in Abuja gave hope to electricity consumers especially the rural populace with a declaration that by 2020, about 75 per cent of the country’s population and households would be connected to the...

    • Posted February 18, 2014
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  • Kerosene price: NNPC denies bribing marketers

    The Nigerian National Petroleum Corporation on Monday dismissed allegations that its employees usually collect N25 for every litre of kerosene sold as mobilisation fee from marketers before allocating kerosene to them.   The acting Group General Manager,...

    • Posted February 18, 2014
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  • Delay of cargo at seaports worries LCCI

    The Lagos Chamber of Commerce and Industry has said the 48-hour deadline set by the Federal Government for the clearance of cargo at the seaports is far from being attained. It said the delay in clearing cargo...

    • Posted February 18, 2014
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  • We won’t compromise cement quality – Dangote

    The Dangote Group has said it will not compromise on the quality of its products, including cement. The company stated this in a statement on Sunday against the background of the ongoing debate on the appropriate quality...

    • Posted February 18, 2014
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  • Capital Market operators blame CBN over market downturn

    Some capital market operators on Monday blamed the Central Bank of Nigeria (CBN) for the sustained price depreciation of listed equities at the nation’s bourse. Some of the operators, who spoke with the News Agency of Nigeria...

    • Posted February 17, 2014
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  • FBN Life Assurance acquires majority equity interest in Oasis Insurance

    FBN Holdings Plc is pleased to announce that its subsidiary, FBN Life Assurance Limited (“FBN Life” or “the Company”), has acquired 4,630,595,326 ordinary shares of 50kobo each, representing 71.2% of the total issued ordinary share capital of...

    • Posted February 17, 2014
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  • NSE market capitalisation rises by 0.80%

    Weekly equity transactions on the Nigerian Stock Exchange (NSE) opened on Monday in a positive note with the market capitalisation closing at N12.52 trillion. The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened...

    • Posted February 17, 2014
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  • Tax expert decries planned removal of VAT, stamp duty

    The President, Chartered Institute of Taxation of Nigeria, Mr Mark-Anthony Dike on Monday said the removal Value Added Tax (VAT) and stamp duty on capital market activities would affect government revenue. He said that government’s plan to...

    • Posted February 17, 2014
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  • 600 microfinance banks face shutdown

    About 600 of over 800 microfinance banks in the country may be closed down soon by the Central Bank of Nigeria unless they merge within the next few months, investigation, by our correspondent has shown. Some CBN...

    • Posted February 17, 2014
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  • CBN is right in withdrawing N1trillion public sector funds – Professor Ekpo

    The new monetary policy by the Central Bank of Nigeria (CBN) increasing Cash Reserve Requirement (CRR) from 50 per cent to 75 per cent for the deposit banks has sparked  a row  in the financial sector. While...

    • Posted February 17, 2014
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  • Plateau poultry farmers to access CBN N220bn loan

    Mr Julius Gusan, Chairman, Plateau Poultry Farmers Association (PAN), said on Sunday that farmers in the state would access the Central of Bank’s (CBN) Micro, Small and Medium Enterprise Fund. Gusan told the News Agency of Nigeria...

    • Posted February 17, 2014
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  • Delta IPP to contribute 150MW to national grid

    Governor Emmanuel Uduaghan of Delta State says the state’s Independent Power Plant will be inaugurated by the end of the year. A statement on Friday said the IPP would target a national grid contribution of between 120...

    • Posted February 17, 2014
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  • Total appoints first female MD for Nigerian operations

    International Oil Company, Total, has appointed the first female Managing Director to run its Nigerian operations. The company, in a statement on Friday, named Mrs. Elisabeth Proust as the Managing Director/Chief Executive of the Total upstream companies...

    • Posted February 17, 2014
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  • Foreigners invested N1tn in NSE last year — Report

    The total amount of foreign portfolio investment in the Nigerian Stock Exchange last year stood at N1.042tn. The amount, which indicates the total inflow and outflow of FPI from January to December 2013, is N234bn or 29...

    • Posted February 17, 2014
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