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  • Interswitch creates holding coy, spins off core divisions for sustainable growth

    Interswitch Transnational Holdings, a pan-African integrated payment processing and transaction switching company, has announced the spin-off, of two of its core divisions: Verve International and Switching and Processing, as separate, autonomous businesses. The company in a release...

    • Posted June 14, 2013
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  • Samsung Heavy to build $3.0bn oil storage in Nigeria

    South Korean shipbuilder Samsung Heavy Industries said Thursday it had won a $3.0 billion order to build a giant offshore oil storage platform in Nigeria. Under the deal with an unnamed client, the shipbuilder will construct the...

    • Posted June 14, 2013
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  • Police pull out of FG insurance scheme

    The Nigeria Police Force has pulled out of the group life insurance scheme initiated by the Federal Government for all its workers. It is, instead, seeking approval to have a separate policy solely for its officers and...

    • Posted June 13, 2013
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  • NCAA, NDLEA warn cargo handlers against dangerous goods

    Cargo agents operating at the Murtala Muhammed Airport in Lagos have been warned to desist from shipping dangerous and prohibited goods onboard domestic and foreign airlines. The agents were also urged to critically check items given to...

    • Posted June 13, 2013
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  • World Bank commits N837.4bn to projects in Nigeria

    The total value of World Bank projects in Nigeria as of May 1, 2013 is N837.4bn, our correspondent has gathered. It was also gathered that the bank had 33 projects in the country with different ages with...

    • Posted June 13, 2013
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  • Ikeja Electricity Company offers free pre-paid metres to debt-free consumers

    Ikeja Electricity Distribution Company, yesterday announced free pre-paid metres for consumers who had settled their outstanding bills. The Chief Executive Officer, CEO, of the company, Mr Chris Akamnonu, told the News Agency of Nigeria, NAN, in Ikeja...

    • Posted June 13, 2013
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  • 24 years after oil spillage, Shell builds 6-classroom block for community

    SHELL Petroleum Development Company has built a six-classroom block for Ogodobiri community in Burutu Local Government Area of Delta State, 24 years after the community and eight others were devastated by an oil spill. Vanguard gathered that...

    • Posted June 13, 2013
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  • Customs destroys smuggled turkey worth N98.6m in Oyo state

    Barely one month that the Oyo/Osun States Command of the Nigeria Customs Service destroyed smuggled frozen turkey worth N11.5 million, it has again destroyed another batch worth N98.6 million. The Deputy Comptroller of the NCS in the...

    • Posted June 13, 2013
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  • Chevron to sell stake in Nigerian oil blocks

    An international oil company operating in Nigeria, Chevron, has announced its intention to divest its stakes in two shallow water oil blocks in the country. The company said on Tuesday the two oil blocks, OML 83 and...

    • Posted June 12, 2013
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  • NSE investors staked N101bn on stocks in May

    The total value of equities exchanged by investors on the Nigerian Stock Exchange for the month of May stood at N101.03bn. Findings by our correspondent showed that the amount represented a significant increase of N12.52bn or 14...

    • Posted June 12, 2013
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  • FG faults foreign airlines’ claim of market forces on fare disparity

    Federal Government, yesterday, faulted foreign airlines’ claims that their fares were determined by market forces of demand and supply, saying such variables should not apply only to Nigeria. Government, which assured the travelling public that it would...

    • Posted June 12, 2013
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  • Main One moves into manufacturing

    Main One, West Africa’s leading wholesale Communications Services Company, recently announced its strategic entry into the nation’s manufacturing sector with bespoke connectivity offerings targeted at FMCGs, manufacturing companies and other businesses resident in the Ikeja, Agbara and...

    • Posted June 12, 2013
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  • Sustainable energy, key to Nigeria’s development – ECN DG

    The Director General of Energy Commission of Nigeria, ECN, Prof. Eli Bala, said yesterday that the vision of President Goodluck Jonathan to transform Nigeria’s economy must be backed and supported by Sustainable Energy for All, SE4ALL, for...

    • Posted June 12, 2013
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  • Okomu to build Africa’s largest mill

    To boost yield from oil palm and rubber plantations in the country, Okomu Oil Palm Company Plc has revealed plans to build the biggest oil mill in Africa. The plan, which will see the company expanding its...

    • Posted June 11, 2013
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