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  • Sterling Bank’s N12.5b rights issue opens

    APPLICATION list for the N12.5 billion rights issue of Sterling Bank Plc opens today, paving the way for existing shareholders to increase their shareholdings in the high-return bank. The opening of application list followed the completion of...

    • Posted June 24, 2013
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  • NNPC frets over US shale oil discovery

    The discovery of shale oil by the United States to meet its domestic crude oil needs may adversely affect Nigeria’s revenue. As a result, the Nigerian National Petroleum Corporation has expressed fears, saying the US might go...

    • Posted June 24, 2013
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  • Power cuts worsen as generation drops by 1,598MW

    Power generation in the country dropped by 1,598 megawatts on Sunday, the Transmission Company of Nigeria said. The company explained that the massive load shedding being experienced nationwide was caused by vandalism of two major gas pipelines...

    • Posted June 24, 2013
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  • Union Bank’s shareholders demand better performance

    Shareholders of Union Bank Plc have demanded improved performance from the board and staff of the bank, even as the board promised to address all the problems confronting the bank. At the 44thAnnual General Meeting of the...

    • Posted June 24, 2013
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  • Labour, stakeholders disagree on poaching, bonding in banks

    Organised labour and shareholders have disagreed over the appropriateness of staff poaching and bonding in the banking industry. Under the umbrella of the Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, labour maintained that...

    • Posted June 24, 2013
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  • IMI builds integrated power plant

    THE Rivers State Government is to develop  an alternative economy to oil. Chairman of Integrated Medical Industries, IMI, and Commissioner for Health, Dr Sampson Parker, who disclosed this during the first test run of the integrated medical...

    • Posted June 24, 2013
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  • Nigeria spends N600bn on vehicles importation annually – NAC

    The Director-General, National Automotive Council (NAC), Mr Aminu Jalal, has disclosed that Nigerians spend about N600 billion annually on import of vehicles. Jalal told newsmen in Abuja that about 50,000 new and 150,000 used vehicles were imported into the country yearly. “Nigerians...

    • Posted June 24, 2013
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  • Insurers need to be vocal on national issues — Lawal

    Managing Director, Sterling Assurance Nigeria Limited, Mr. Fatai Lawal, has just emerged as President, Chartered Insurance Institute of Nigeria. He spoke with NIKE POPOOLA on how to make insurance more relevant to the economy Many years ago, did you ever...

    • Posted June 23, 2013
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  • We’ll continue to invest in Nigeria — Turkish ambassador

    The Turkish ambassador to Nigeria, Mr. Mustafa Pulat, has said despite the security challenge in the country, his home country and investors will continue to invest in Nigeria. He said in a statement obtained on Friday that...

    • Posted June 23, 2013
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  • NSE fines Julius Berger, Costain, others for defaulting

    The Nigerian Stock Exchange has imposed a fine of N14.8m on Julius Berger Nigeria Plc, Costain (West Africa) Plc and six other quoted companies for various infractions. The information obtained by our correspondent from the NSE’s X...

    • Posted June 23, 2013
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  • Shell, LIMGE join forces against fire in Lagos

    In a rare collaboration, Shell Nigeria Exploration Company (SNECO) and Lagos Island Millenium Group on the Environment (LIMGE) are joining forces to end fire disasters in Lagos. Consequently the soft launch of Ajele Fire Station in the...

    • Posted June 23, 2013
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  • NNPC to tackle environmental degradation

    Nigerian National Petroleum Corporation, NNPC, has tasked its staff to imbibe self-consciousness and the spirit of preservation and friendliness toward the environment across the country as part of measures to prevent environmental degradation. The corporation, under leadership...

    • Posted June 23, 2013
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  • Julius Berger’s turnover hits N196.9bn, pays N3bn dividend

    The Group’s Profit Before Tax also increased by 24 per cent to N12.34 billion in 2012 from N9.93 billion in the previous year. The company’s profit after tax increased to N8.02 billion up from the N4.411 billion...

    • Posted June 22, 2013
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  • FCTA to build 14 rail stations

    Preparatory to the inauguration of the Abuja Rail Project, the FCT Administration will soon perform the ground breaking for 14 rail stations across the Federal Capital Territory and some satellite towns. The Minister of the Federal Capital...

    • Posted June 22, 2013
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