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  • Ifeanyi Uba’s posters take over Awka as judge slams Access Bank over London court order

    A Federal High Court in Lagos on Monday expressed great disappointment with action of Access Bank in ridiculing the Nigerian judiciary and constitution before a London Court, insisting that the development was not only condemnable, but also...

    • Posted January 29, 2013
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  • Reps to probe sale of OML 30 to Heritage Oil

    Nigeria’s House of Representatives on Tuesday resolved to institute a thorough probe into the sale of Oil Mining Licence, OML 30 to an alleged questionable oil exploring company. The job of the investigation was at the Tuesday...

    • Posted January 29, 2013
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  • N1.3b subsidy scam: EFCC’s negotiation with marketers breaks down

    The attempt by two marketers, Aro Sunday Bamidele and Abiodun Kayode Bankole, to negotiate with the Economic and Financial Crimes Commission (EFCC) over the N1.3 billion subsidy fraud preferred against them has failed. Both marketers are standing...

    • Posted January 29, 2013
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  • 65% new businesses die within first 3 years in Nigeria – NASME

    The Nigerian Association of Small and Medium Enterprises (NASME), on Tuesday, said that 65 per cent of new businesses were moribund within the first three years in operation in Nigeria. NASME’s director of public relations, Mr Nerus...

    • Posted January 29, 2013
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  • PPPRA to axe defaulting marketers

    With a view to restructuring and reorganizing its operations effectively, the Petroleum Products Pricing Regulatory Agency (PPPRA) says it will not relent in its effort to axe marketers found wanting in their task and duty of delivering...

    • Posted January 29, 2013
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  • Nigeria, Canada sign agreement to reinforce trade relations, target $6bn trade volume by 2015

    The Nigerian Government and the Canadian Government yesterday signed a memorandum of understanding to reinforce trade and investment ties between both countries. Both countries came to term by leveraging on areas of competitive and comparative advantage. They...

    • Posted January 29, 2013
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  • Nigeria Stock Exchange Watch: ASI (-0.34%) Dips As Investors Exchange Nearly 1 billion Units

    The Nigerian Stock Exchange All Share Index retreated 34 basis points in what was one of this year’s most active trading days. The market usually averages about 250 million units but investors staked 970 million units valued...

    • Posted January 28, 2013
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  • Capital Requirement: MFBs Call For Deadline Extension

    The South West Zone of the National Association of Microfinance Banks has urged the Central Bank of Nigeria to extend the December 31, 2012 deadline given to them to comply with the Revised Microfinance Policy Framework, which...

    • Posted January 28, 2013
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  • FG fires back at Ezekwesili on $67b reserves squander claim

    The Federal Government has denied the allegations levelled against it by Former World Bank Vice President for Africa, Oby Ezekwesili that it squandered $67billion reserves, which the Olusegun Obasanjo administration left, saying only $43.13billion was left. Responding...

    • Posted January 28, 2013
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  • Heritage Bank begins SGBN accounts validation exercise

    Customers of former Societe Generale Bank Plc (SGBN) are set to heave a sigh of relief as it formerly begins a four-week validation exercise on Tuesday (tomorrow) under a new name- Heritage Banking Company Limited. This is...

    • Posted January 28, 2013
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  • We generated N5trillion from taxes in 2012 for FG – FIRS

    The Federal Inland Revenue Service (FIRS) over the weekend claimed that it made about N5.007tn from taxes only for the Federal Government in the 2012 fiscal year, adding that the amount was the highest tax ever collected...

    • Posted January 28, 2013
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  • Flour Mills Set To Merge With Niger Mills

    The management of Flour Mills Nigeria Plc has announced its merger with subsidiary Niger Mills Limited. According to a statement released by the company last Friday, the merger is intended to create a more efficient company, reduce...

    • Posted January 28, 2013
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  • MTN set to introduce number portability

    With a determination to gain wider influence in the Nigerian Telecommunications Sector, South African based Telco Giant MTN says it is ready for the much awaited mobile number portability project to be fully implemented in the country....

    • Posted January 28, 2013
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  • RMAFC allocate LGs separate account in new revenue formula irrespective of pressure from State Governors

    The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) have disclosed its determination to go ahead and create separate accounts for the Local governments in the anticipated new revenue prescription, irrespective of pressure from Governors. According to a...

    • Posted January 28, 2013
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