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  • Capital Oil drags Access Bank to Court over contempt

    Capital Oil and Gas Limited and its Chief Executive Officer, Ifeanyi Ubah, have begun to initiate contempt proceedings against Access Bank Plc and some of its principal officers. It follows the banks alleged refusal to comply with...

    • Posted February 3, 2013
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  • Ebonyi State to generate 2,000MW by September

    The Ebonyi State government has signed a Memorandum of Understanding with a firm to produce 2000 megawatts of electricity by September 2013. The State Governor, Martin Elechi, who disclosed this during a town hall meeting to round...

    • Posted February 3, 2013
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  • Federal Government commences review of revenue allocation formula

    The Federal Government has commenced the review of existing revenue allocation formula among the three tiers of government, and the new formula is expected to be ready by the end of the year. Chairman, Revenue Mobilisation Allocation...

    • Posted February 3, 2013
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  • Contractors abandon N800m schools’ projects in Benue

    Benue state Commissioner for Science and Technology, Mr Godwin Adah, said contractors have abandoned over N800 million science and technical schools’ projects in Anyiin and Otukpa areas of the state. The commissioner said this on Friday in...

    • Posted February 2, 2013
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  • Former ExxonMobil workers protest cuts in terminal benefits

    Disengaged workers of ExxonMobil at Qua Iboe Terminal in Akwa Ibom on Thursday protested over alleged cuts in their terminal benefits and described the action as unacceptable. The 1,400 disengaged junior workers protested on some streets in...

    • Posted February 2, 2013
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  • Adebija says labour market needs major intervention

    Trainer and Chief Executive Officer of Ashton & Layton Nigeria, Gbenga X-adebija, has lamented the dilapidated labour market, which he said results from declining educational standard in the country. He described the market as one that requires major...

    • Posted February 2, 2013
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  • Sinopec set to acquire Afren’s $1bn assets

    China Petrochemical Corporation, Sinopec, has announced plans to acquire Afren Plc’s assets valued at N157 billion ($1 billion) in Nigeria and other part of the globe. According to a source who asked not to be named, Sinopec...

    • Posted February 2, 2013
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  • Saraki says N8bn fines FG slapped on Shell, Chevron is unconstitutional

    Chairman, Senate Committee on Environment, Mr. Bukola Saraki has declared as unlawful and unconstitutional, the $8 billion fines being sought by the Federal Government of Nigeria against Royal Dutch Shell and Chevron for oil spills in the...

    • Posted February 2, 2013
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  • Faulty credit system is killing SMEs, local manufacturers – Okeke

    Over the years, investigation had revealed that apart from the epileptic power supply that has affected business operations at every level in this country, poor credit facility has been a major challenge of local manufacturers. In this...

    • Posted February 2, 2013
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  • iROKOtv to launch Nollywood Mobile App on Nokia Lumia

    Streaming ‘Nollywood’ movie service iROKOtv has announced that it is partnering with Nokia to launch the Nigerian company’s first mobile app, exclusively on the Windows Phone platform on its Lumia range. The deal is a way of...

    • Posted February 1, 2013
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  • Mastercard, Interswitch set to reward Nigerian consumers

    Nigerian shoppers who make cashless purchases at merchant locations with Verve Card and MasterCard at designated shopping outlets that are Reward Money enabled, or through a point of sale (PoS) are to get instant rewards. This is...

    • Posted February 1, 2013
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  • Nigeria parleys with Canada on stronger economic ties

    Nigeria and Canada have resolved to strengthen trade and investment ties between both countries by leveraging on areas of competitive and comparative advantage. The two countries also agreed on strategies to double the volume of trade between...

    • Posted February 1, 2013
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  • Nigeria’s domestic debt rises to N6.54trillion

    The Federal Government borrowed a total of N914.69bn from domestic sources in the last one year, bringing its total domestic debts to N6.54tn, information made available by the Debt Management Office has shown. Statistics posted on the...

    • Posted February 1, 2013
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  • Delta suspends e-payment of salaries

    The Delta Government announced on Thursday the suspension of e-payment of workers’ salaries with effect from January. The Governor, Dr Emmanuel, said the measure was part of efforts to check the problem of ghost workers in the...

    • Posted February 1, 2013
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