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  • Federal Government, states owe N10tn – DMO

    The federal and 36 state governments as well as the Federal Capital Territory owe N10.04tn ($64.51bn) as of December 31, 2013, the Debt Management Office has said. Statistics obtained from the website of the DMO on Monday...

    • Posted February 12, 2014
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  • Sovereign Wealth Fund gets additional $550m for investment

    The Federal Government said on Monday it had given an additional 550 million dollars to the Sovereign Wealth Fund (SWF) for the development of infrastructure in the power sector. The Coordinating Minister for the Economy and Minister...

    • Posted February 11, 2014
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  • FG establishes Power Sector Intervention Fund

    The Federal Government on Monday approved the establishment of Power Sector Intervention Fund with initial deposit of N300 billion to facilitate speedy development of the nation’s power sector. President Goodluck Jonathan made this known at an International...

    • Posted February 11, 2014
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  • NSE activities close low on Monday, as market indicators drop by 0.31%

    Equity transactions on the Nigerian Stock Exchange (NSE), on Monday, opened for the week in a downward trend with the market indices dropping marginally by 0.31 per cent. The News Agency of Nigeria (NAN) reports that the...

    • Posted February 11, 2014
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  • FG will not re-concession Lagos-Ibadan expressway – Onolememen

    The Minister of Works, Mr Mike Onolememen, on Monday said that the Federal Government had no intention to re-concession the Lagos-Ibadan expressway project. Onolememen said while on inspection tour of the two sections of the project that...

    • Posted February 11, 2014
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  • UBA commits to business integrity

    The United Bank for Africa Plc has reiterated its commitment to adhere to the Convention on Business Integrity, which defines a minimum standard for business integrity in Nigeria. The Convention on Business Integrity was established with the...

    • Posted February 11, 2014
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  • Non-performing power firms will lose licences – FG

    In a bid to stem the rising power outages across the country, the Federal Government has declared that it will withdraw the operational licences of poorly performing power firms. According to the government, the new owners of...

    • Posted February 11, 2014
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  • Nigerian banks invest N750bn to develop power sector

    Deposit Money Banks in Nigeria have invested over N750bn in the country’s power sector since the commencement of the privatisation exercise of the industry. The DMBs also announced their readiness to plough more funds into the sector...

    • Posted February 11, 2014
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  • Interbank market liquidity defies CRR debit, closes at N612bn

    The amount of idle cash in the interbank money market closed at N612 billion last week.The liquidity surplus was despite debit of banks  for cash reserve ratio (CRR) of N583 billion for the month of January. The...

    • Posted February 11, 2014
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  • CBN lists guidelines for mortgage refinance firms

    Central Bank of Nigeria (CBN) has paved the way for full take off of mortgage refinancing in the country with the release of regulatory and supervisory guidelines for the operations of a Mortgage Refinance company. The apex...

    • Posted February 11, 2014
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  • Nigerian to head New York City Housing Authority

    The Mayor of New York City, Bill de Blasio, has announced the appointment of a Nigerian, Ms Shola Olatoye, as the new Chairman of the New York City Housing Authority. A local media announcement on Monday, stated...

    • Posted February 11, 2014
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  • NCC encourages telecom operators to explore ITU opportunities

    The Nigerian Communication Commission (NCC) on Monday advised telecommunication operators in the country to partner with the International Telecommunication Union (ITU) to seek ways to improve technology in the industry. Mr Tony Ojobo, the NCC spokesman gave...

    • Posted February 11, 2014
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  • Stakeholders identify conflict of interest as major impediment at Nigeria ports

    Some maritime stakeholders have identified conflict of interest among the service providers and port users was part of the impediments at the nation’s ports. They told the News Agency of Nigeria (NAN) in Lagos on Monday that...

    • Posted February 10, 2014
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  • FG will build two power transmission stations in Ebonyi – Official

    The Federal Government said it would build two transmission stations in Abakaliki to enhance power delivery in the area. The General Manager (Transmission), Enugu Transmission Region, Mr Geoffrey Nwokoye, made this known when he paid a courtesy...

    • Posted February 10, 2014
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