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  • Power outage: FG goes after saboteurs

    Minister of Power, Prof Chinedu Nebo, yesterday, inaugurated a technical investigative panel on system collapse to ascertain the major causes of power failure and proffer solution to mitigate future occurrences. The panel, which is the first of...

    • Posted June 11, 2013
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  • Port Security: FG gives agencies 45-day ultimatum

    FOLLOWING the ultimatum the United States Government gave to Nigeria to improve on the security situation at the nation’s seaports, the Presidency, yesterday, adduced reason why Nigeria cannot afford to take the threat lightly, saying that “If...

    • Posted June 11, 2013
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  • NEITI uncovers $9.8bn unpaid taxes from oil companies, others

    Nigeria Extractive Industries Transparency Initiative, NEITI, has uncovered unremitted taxes amounting to $9.8 billions (N1.538 trillion) by oil companies into the federation account. This came as President Goodluck Jonathan, yesterday, promised that the Federal Government would soon...

    • Posted June 11, 2013
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  • Customs intercepts 1,526 cartons of poultry products

    THE Federal Operation Unit (FOU) of the Nigeria Customs Service in Ikeja, Lagos, weekend, intercepted 1,526 cartons of assorted poultry products valued at N6.4million. Confirming the seizure, the Public Relations Officer of the Unit, Mr. Uche Ejesieme,...

    • Posted June 11, 2013
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  • Jonathan approves new package for BoI recapitalisation

    The Federal Government has approved plans by the Bank of Industry (BOI) to shore up its capital base by N750 billion. Speaking at a training programme for media practitioners in Lagos, Mr. Joseph Babatunde, General Manager, BOI,...

    • Posted June 11, 2013
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  • Mercedes Benz recharges with 4 new models for Nigeria market

    Luxury car maker, Mercedes-Benz has added four new models to its model line up in Nigeria to boost its market share. This probably marks the first time the company is introducing this number of new models at...

    • Posted June 11, 2013
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  • NEITI has done well – President Jonathan

    President Goodluck Ebele Jonathan Monday commended the performance of the Nigeria Extractive Industries Transparency Initiative (NEITI) since its establishment in 2003. Receiving members of the board and management of NEITI led by the Chairman, Ledum Mitee at...

    • Posted June 10, 2013
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  • Dangote Cement’s Chief Finance Officer resigns

    Dangote Cement has announced the resignation of its Chief Finance Officer,Tim Surridge. The company said its former official cited family reasons for his exit. Kuzhiyil Ravindran, who is currently the Chief Finance Officer of Dangote Industries, has...

    • Posted June 10, 2013
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  • Lufthansa justifies airlines fare disparity

    The Lufthansa Airlines on Sunday said the economies of demand and supply had created foreign airlines’ fare disparity among African nations. Mr Claus Becker, Managing Director, West and Central Africa of the airline, said this during an...

    • Posted June 10, 2013
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  • BOI-managed funds hit N1.6trn

    Managing Director of the Bank of Industry, Evelyn Oputu, has said that the intervention fund being managed by the bank is more than N1.6 trillion. Oputu said this in Lagos while fielding questions from newsmen at a...

    • Posted June 10, 2013
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  • FAAN set to eject customs agents from its premises

    The Federal Airports Authority of Nigeria (FAAN) is set to eject customs agents operating in its premises at the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos. Mr Yabuku Dati, General Manager, Corporate Communications of FAAN, told the...

    • Posted June 10, 2013
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  • Kaduna Electricity Company power projects to gulp N5.8billion

    The Kaduna Electricity Distribution Company will require N5.8 billion to complete 17 ongoing power projects in Kaduna, Sokoto, Zamfara and Kebbi States, the Managing Director, Alhaji Mohammed Idris, has said. Idris told the Minister of Power, Prof....

    • Posted June 9, 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 9, 2013
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  • Nigeria retires matured bonds in move to curb local debt

    Nigeria retired matured bonds and plans to cut domestic borrowing to 500 billion naira ($3.1 billion) next year as part of a move to reduce growing debt,Bloomberg reports Finance Minister Ngozi Okonjo-Iweala said. This year’s local borrowing...

    • Posted June 9, 2013
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