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  • Oando adds 2,500 bpd production capacity from Ebendo oil field

    Oando Energy Resources has announced the completion and testing of the Ebendo 5 well, which is expected to contribute additional 2,500 barrels of oil per day (bpd) from the field. The development, according to a statement from...

    • Posted May 22, 2013
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  • First Bank upgrades IT infrastructure for enhanced service delivery

    First Bank of Nigeria is currently upgrading its IT infrastructure to enhance service delivery and provide specialized financial solutions to all customer segments, the Bank’s management has said. FirstBank’s spokesperson, Folake Ani-Mumuney, said the Bank’s upgrade to...

    • Posted May 22, 2013
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  • Jonathan orders MDAs to complete on-going projects

    AHEAD of the second anniversary of the present federal administration, President Goodluck Jonathan has given a marching order to all Federal ministries, departments and agencies to complete ongoing and abandoned projects that are viable and of economic...

    • Posted May 22, 2013
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  • Why NCC should prioritize dominant-operator regulation – Ogii

    The Nigerian Communications Commission, NCC, penultimate week, opened the telecom industry up for another debate when it released the operators’ market status and declared two, MTN and Globacom, as dominant players in different categories. Since that declaration...

    • Posted May 22, 2013
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  • Benin youths issue 7-day ultimatum to RCC over sacked workers

    Bini Development Union, BDU, a socio-cultural organisation in Edo State, has issued a seven-day ultimatum to Reynolds Construction Company, RCC, operating in the state, to reconsider its decision to suspend some Bini natives working in the company...

    • Posted May 22, 2013
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  • Fidelity Bank grows profit after tax by 604%

    Fidelity Bank plc yesterday declared a profit after tax of N18.2 billion for its financial year ended December 31, 2012, just as it approved a dividend of 21 kobo per share to its shareholders. The bank’s profit...

    • Posted May 22, 2013
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  • Skye Bank posts N127.7 billion profit for 2012

    …plans to invest over $100m million in power sector Skye bank Plc has achieved gross earnings of N127.7 billion in 2012 operations, against N102.4 billion posted in 2011. Besides, the bank announced plans to inject over $100...

    • Posted May 21, 2013
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  • UBA Capital increases gross earnings by 300 per cent

    UBA Capital Plc tripled gross earnings to N890.3 million in the first quarter of the year and grew Profit Before Tax to N617 million, translating to 211 percent growth when compared to N198 million achieved in the...

    • Posted May 21, 2013
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  • FAAN carries out further security checks at Abuja airport

    The Federal Airports Authority of Nigeria has introduced more security measures at the Nnamdi Azikiwe International Airport, Abuja, the News Agency of Nigeria has reported. Henrietta Yakubu, the FAAN spokesperson at the airport, told the NAN that...

    • Posted May 21, 2013
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  • Jonathan challenges banks to fund infrastructure development

    President Goodluck Jonathan on Monday in Abuja challenged banks in the country to fund infrastructure development in Africa. The president speaking to the Group Chief Executive Officer and Managing Director of Ecobank Transnational Inc., Mr Thierry Tanoh,...

    • Posted May 21, 2013
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  • IMF okays PIB; calls for early passage

    Global financial watchdog, the International Monetary Fund, IMF, has commended Nigeria’s Petroleum Industry Bill, PIB, saying, it “would boost investment, government revenue, and fiscal transparency.” The commendation was given in spite of varied criticisms by oil majors...

    • Posted May 21, 2013
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  • Nigerian banks now IFRS compliant – CBN

    The Central Bank of Nigeria on Thursday said that all Deposit Money Banks in the country were now International Financial Reporting Standards compliant. The Deputy Governor, Financial Systems Stability, CBN, Mr. Kingsley Moghalu, said at the Ernst...

    • Posted May 21, 2013
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  • BoA targets 30 million farmers with mobile money

    The Bank of Agriculture has entered into a partnership with Cellulant of Kenya to provide mobile money banking services to about 30 million Nigerian farmers. The move will enable farmers to enjoy broader base services by leveraging...

    • Posted May 21, 2013
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  • Lagos commences work on Fourth Mainland Bridge

    The Lagos State Government has finally started a preliminary work on the Fourth Mainland Bridge. The 26-kilometre infrastructure would be designed to link Ikorodu to the state’s economic hub in Eti-Osa Local Government Area. The state Commissioner...

    • Posted May 20, 2013
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