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  • Missing funds: NNPC claims spending $8.49bn on subsidy

    The controversy surrounding the allegedly missing $10.8bn meant to be remitted to the Federation Account by the Nigerian National Petroleum Corporation took another turn on Friday as the NNPC claimed that it spent $8.49bn of the sum...

    • Posted January 11, 2014
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  • Nigeria lauds UK’s support in debt management

    Vice-President Namadi Sambo on Friday hailed the United Kingdom for its support to Nigeria, particularly in debt management. Sambo made the commendation when he received the reports on the partnership between the UK-Department for International Development and...

    • Posted January 11, 2014
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  • lkeja DISCO warns workers over extortion

    The Management of the Ikeja Distribution Company (IKEDC) on Friday urged its customers to report any worker demanding payment for purchase of pre-paid meters or the repair of its equipment. This was contained in a statement issued...

    • Posted January 10, 2014
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  • Exchange rate: Naira remains firm against the dollar, pound sterling

    The Nigerian currency, the Naira, on Friday traded on a stable platform against two major international currencies, the dollar and the pound sterling, as transactions ended for the week. The News Agency of Nigeria (NAN) reports that...

    • Posted January 10, 2014
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  • Shareholders threaten to sue Cadbury over capital reduction

    Some shareholders on Friday threatened to sue Cadbury Nigeria Plc over the company’s plan to embark on share capital reduction. The shareholders, under the aegis of the Progressive Shareholders Association of Nigeria (PSAN), made the threat in...

    • Posted January 10, 2014
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  • Oando to extend natural gas distribution in Lagos

    The Management of Oando Plc on Friday announced plans to extend its natural gas distribution network from Ijora to the Marina Central Business District of Lagos. Mr Bolaji Osunsanya, Chief Executive Officer of Oando Gas and Power...

    • Posted January 10, 2014
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  • NSE ASI gains by 0.28% on Friday

    Transactions at the floor of the Nigerian Stock Exchange, NSE, ended on Friday on a bullish trend as the All Share Index, ASI, closed higher at 41,480.62 basis points to gain by 117.57 points or 0.28 percent...

    • Posted January 10, 2014
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  • Access Bank Plc announces divestment from Access Bank Cote d’Ivoire

    The Board of Directors, Access Bank Plc has announced the completion of the bank’s divestment from its Cote d ’Ivoire subsidiary, Access Bank Cote d’Ivoire. The bank disclosed that the divestment was concluded through a direct sale...

    • Posted January 10, 2014
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  • Lagos Assembly passes N489.69bn budget for 2014 fiscal year

    The Lagos State House of Assembly, late Thursday approved the sum of N489. 69billion as the amount to be spent by the state government during the 2014 fiscal year. The News Agency of Nigeria (NAN) reports that...

    • Posted January 10, 2014
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  • SEC orders Ecobank Transitional Corporation to convene EGM

    The Securities and Exchange Commission (SEC) on Thursday directed Ecobank Transitional Corporation (ETI) to organise an Extra Ordinary General Meeting (EGM) before the end of February 2014. SEC said in a statement that the findings and recommendations...

    • Posted January 10, 2014
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  • Gas shortage, transmission hitches threaten power supply – Investors

    Private sector investors in the power generation and distribution companies on Wednesday said President Goodluck Jonathan’s directive to improve electricity supply across the country by June was being threatened by the inefficiency of the Transmission Company of...

    • Posted January 10, 2014
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  • Operators fault NPA, back Shippers Council as port regulator

    Operators in the maritime industry have accused the management of the Nigerian Ports Authority, NPA, of neglecting their interest, even as they expressed confidence in the proposed move by the Federal Government to make the Nigerian Shippers...

    • Posted January 10, 2014
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  • CBN introduces new payment system

    The Central Bank of Nigeria (CBN) has introduced a new payment system called Real-Time Gross settlement (RTGS) system as part of efforts to implement Payment System Vision (PSV)2020 strategy. Mr Tunde Lemo, CBN Deputy Governor (Operations), made...

    • Posted January 10, 2014
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  • Poor services: Telecoms firms know fate soon

    Telecommunications service providers will know their fate later this month as far as punishment for rendering poor quality services is concerned. Our correspondent learnt from a top source in the Ministry of Communications Technology that the industry...

    • Posted January 10, 2014
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