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  • Expert advises CBN to address banks’ hidden charges

    A financial expert, Oluwole Ibikunle, on Tuesday, advised the Central Bank of Nigeria (CBN) to address the issue of hidden charges by banks. Ibikunle, the Managing Director, Boar Management & Financial Strategies Ltd., said that the step...

    • Posted April 17, 2013
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  • FG prioritises Lagos-Ibadan Expressway, Second Niger Bridge

    The Federal Government has said it will give priority to the reconstruction of the Lagos-Ibadan Expressway and the building of the Second Niger Bridge that will connect Delta and Anambra states. The government’s position was made known...

    • Posted April 17, 2013
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  • Naira set for lowest level in two weeks

    The naira retreated on Tuesday, heading for its lowest level in two weeks, as importers were said to increase demand for dollars. The currency declined by 0.2 per cent to N158.25 per dollar in Lagos, according to...

    • Posted April 17, 2013
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  • Dangote to build $8bn oil refinery in Nigeria

    Africa’s richest man, Alhaji Aliko Dangote, plans to invest up to $8bn to build a Nigerian oil refinery with a capacity of around 400,000 barrels a day by late 2016, the tycoon told Reuters on Tuesday. This will almost...

    • Posted April 17, 2013
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  • UNIDO to spend N31.8bn on industrial sector in Africa

    United Nations Industrial Development Organisation (UNIDO) plans to inject another $200 million (about N31.8 billion) towards industrialising Nigeria and other African countries over the next six years, said Dr. Kandeh Yumkella, its Director-General. In Nigeria, the organisation...

    • Posted April 17, 2013
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  • Skye Bank Declares N0.50k Dividend On N12.6 billion Earnings

    The management of Skye Bank Plc transmitted their 2012 audited financial statements to the Nigerian Stock Exchange today. The Akin Adesola headquartered bank reported gross earnings of N127 billion, a growth of 25% from the N102 billion...

    • Posted April 16, 2013
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  • Fidelity Bank Grows Profit By 604%, Declares N0.21 kobo Dividend

    Fidelity Bank has released its 2012 audited financial statements, reporting an increase in profitability over the period year to the tune of 604%. The company also declared a dividend of N0.21 which is to be paid on...

    • Posted April 16, 2013
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  • Clubs relegated from the Premier League to receive £60m boost

    Clubs relegated from the Premier League will receive in excess of £60m over a four-year period from next season after the Premier League agreed new parachute payments for the next three years. The Premier League is yet...

    • Posted April 16, 2013
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  • Ebonyi State to construct Turbine Power Plant to improve electricity

    To compliment the efforts of Federal Government in power generation, the Ebonyi State government has concluded plans to construct an independent turbine power plant that will generate electricity to serve the State and some other States of...

    • Posted April 16, 2013
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  • World Bank gives N77m loan to commercial farmers in Cross River

    The World Bank has given N77million credit facilities to some commercial farmers in Cross River with a view to boost rice, cocoa and oil palm production. Mr Owali Ilem, Commercial Agriculture Development Association (CADA), made the fact...

    • Posted April 16, 2013
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  • NCAA grounds British Airways aircraft

    The Nigerian Civil Aviation Authority (NCAA) on Monday grounded a British Airways aircraft due to operational reasons. The Country Manager, British Airways Kola Olayinka, confirmed the development in a press statement released in Lagos. The statement was released...

    • Posted April 16, 2013
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  • Electricity: Deadline for Kaduna, Afam bidders ends today

    Investors bidding for the Kaduna Distribution Company Plc and Afam Power Plc must submit their technical and financial proposals by the end of today (Tuesday), which is the deadline for the submission of the proposals. The Head,...

    • Posted April 16, 2013
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  • Central Bank recovers N8.6billion excess bank charges

    The Central Bank of Nigeria on Monday said it had recovered N8.6bn as excess charges fraudulently collected from customers by Deposit Money Banks. The amount was recovered between May 29, 2012, when the Consumer Protection Department was...

    • Posted April 16, 2013
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  • Nigeria earns N599bn from crude, FG overspends by N178bn

    Central Bank of Nigeria, CBN, yesterday, said the country earned N599 billion from crude oil in January, while Federal Government overspent its budget by N178 billion in the same month. The apex bank disclosed this in its...

    • Posted April 16, 2013
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