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  • FCTA, Millard Fuller to build 5,000 low-cost houses in FCT

    Succor is on the way for the urban poor and low income earners in the Federal Capital Territory, as the Administration has approved and released a 4.6 hectares land in Mamusa District for the construction of 5,000...

    • Posted May 1, 2013
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  • Diamond Bank posts N22billion profit

    DIAMOND Bank Plc has grown its profit after tax (PAT) for the 2012 financial year by over 250 per cent to N22.1 billion as against theN13.9 billion loss achieved in 2011. The bank’s profit before tax (PBT)...

    • Posted April 30, 2013
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  • Skye Bank grows first quarter earnings by 25%

    SKYPE Bank Plc has posted gross earnings of N34.7 billion in the first quarter of 2013 against N27.8 billion recorded in the same period of 2012. The performance represents a 25-per cent year on year improvement, just...

    • Posted April 30, 2013
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  • Union Bank’s earnings rise by 33%

    Union Bank of Nigeria Plc has recorded a 33 per cent rise in its gross earnings for the financial year ended December 31, 2012. Its full year results, released to the Nigerian Stock Exchange on Monday, showed...

    • Posted April 30, 2013
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  • Enterprise Bank records N40bn gross earnings

    Enterprise Bank Limited became the first among the bridged banks to make public its financial reports as it revealed that its gross earnings increased significantly to N40.4billion as at December 2012,  compared to the N10.5 billion achieved...

    • Posted April 30, 2013
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  • Unity Bank grows profit after tax by 130%

    Unity Bank Plc grew its profit after tax by 130 per cent in the 2012 financial year as it improved on all other ratios. According to its audited accounts, which have been made available to the Nigerian...

    • Posted April 30, 2013
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  • FCMB declares N16.3bn profit, issues bonus shares

    Shares in First City Monument Bank (FCMB) Plc fell by 8.5 per cent yesterday as investors reacted to non-payment of  cash dividends by the bank for the year ended December 31, 2012. The Nigerian Stock Exchange (NSE)...

    • Posted April 30, 2013
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  • Notore, foreign firm to build 500MW plant

    Notore Power Limited (Notore Power), an indigenous independent power producer (IPP), has just signed a Memorandum of Understanding (MoU) with ContourGlobal to develop, construct, finance and operate a gas-fired power station. The plant would have an available capacity...

    • Posted April 30, 2013
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  • Glo extends 2013 network investment to $1.2bn

    Nigeria’s indigenous telecoms service provider, Globacom, has signed a new $500 million contract with ZTE, a global Information and Communication Technology solutions provider, for network upgrade, bringing the former’s network investment for 2013 to a whopping $1.250...

    • Posted April 30, 2013
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  • Elumelu wants Nigerian Banks to co-finance $3.4bn Transmission Networks

    Chairman of Transcorp Ughelli Power Plant and former Managing Director of United Bank for Africa (UBA), Mr. Tony Elumelu, has urged the federal government to grant Nigerian banks consideration to participate in funding scheduled long-term projects aimed...

    • Posted April 30, 2013
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  • NPDC daily crude production now 138,000 barrels

    The Nigerian Petroleum Development Company Limited, a wholly owned subsidiary of the Nigerian National Petroleum Corporation, has increased its daily oil production to 138,000 barrels from 60,000bpd. This was contained in a rejoinder signed by NPDC management...

    • Posted April 30, 2013
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  • PIB: Experts call for upward review of host communities’ fund

    SENATORS were,yesterday, told that passage of the Petroleum Industry Bill, PIB, into law might lead to repeal of laws that established 10 agencies, including Nigerian National Petroleum Corporation, NNPC, and preservation of five others. Senators were also...

    • Posted April 30, 2013
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  • Minister raises alarm over theft of rail components

    Minister of Transport, Senator Idris Umar, has raised alarm over the frequent theft of rail components on  the Port Harcourt – Enugu rail line. The minister, who frowned at the situation, charged the Managing Director of Nigerian...

    • Posted April 30, 2013
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  • NCC orders MTN to collapse rates

    TELECOMMUNICATIONS regulator, the Nigerian Communications Commission, has ordered MTN Nigeria to collapse the rates for its on-net and off-net voice services, which it said has a 300 per cent differential with effect from tomorrow, May 1. The...

    • Posted April 30, 2013
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