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  • Reps Threaten Arrest of Okonjo-Iweala, Aig Imokhuoede Over .Uba and Maduka Dispute

    The House of Representatives Committee on Public Petitions, on Thursday, threatened to order the arrest of the Minister of Finance, Mrs. Ngozi Okonjo-Iweala, and the Group Managing Director of Access Bank Plc, Mr. Aigboje Aig-Imokhuede for failing...

    • Posted December 14, 2012
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  • CBN Responsible For Over 70% of Total Remittances to Govt

    In the wake of corruption in the country, monies called “operational surpluses”meant to be returned to the treasury are used for personal enrichment through fraudulent means. Recently remittances by Ministries, Departments, and Agencies (MDAs) to the government...

    • Posted December 14, 2012
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  • Senate Approves N161.6 billion Subsidy Supplementary Budget, Accuses Presidency of Blackmail

    Just 17 days to the end of the year, senators have approved the N161.6 billion supplementary budget for fuel subsidy payment requested by President Goodluck Jonathan. The Senators approved the request reluctantly to avoid been held responsible...

    • Posted December 14, 2012
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  • Nigeria Gets $250 million Loan from US to Boost Fertilizer Facility

    In a bid to assist Nigeria in expanding the capacity of its Agricultural sector, the United States of America has approved a loan worth $250 million through its strategic Overseas Private Investment Corporation (OPIC). The Spokesperson for...

    • Posted December 14, 2012
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  • Nigeria Telcos Face N20 billion Interconnection Debt

    Key telecommunications operators are believed to be exposed to an interconnection debt of a whooping N20 billion, a development that poses a risk for the heavily subscribed sector in the Nation. The process of interconnection in the...

    • Posted December 14, 2012
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  • Court orders AMCON to re-open Capital Oil’s facilities

    Justice Abdul Kafarati of a Federal High Court, Abuja has ordered the Asset Management Company of Nigeria (AMCON) to re-open the facilities of Capital Oil and Gas Limited to allow it resume business activities. In doing so,...

    • Posted December 13, 2012
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  • Amount of Cash Governor Lamido’s Son Possessed Higher than Declared – EFCC

    Aminu, the eldest son of Jigawa State Governor Alhaji Sule Lamido, was arrested at Mallam Aminu Kano Airport by Operatives of the Economic and Financial Crimes Commission and the Nigeria Customs Service on Wednesday for alleged money...

    • Posted December 13, 2012
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  • MTN Plans $1.3 billion Upgrade For 2013

    South African telecommunications firm MTN is planning to improve its facilities nationwide investing about $1.3 billion for 2013. This is in a resolve to ensure that it maintains its capacity and leadership in the Nigerian mobile technology...

    • Posted December 13, 2012
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  • Senate Signs Warrant for Pension Reform Taskforce Chief Arrest

    The Senate yesterday issued an order for the arrest of the Chairman of the Pension Reform Task Team (PRTT), Mr. Abdulrasheed Maina. The order was issued following Maina’s refusal to come before the joint Senate committee probing...

    • Posted December 13, 2012
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  • FG and PHCN Reach Settlement, Privatization To Be Fast-Tracked

    The long battle between the Power Holding Company of Nigeria workers and the Federal Government has ended as the Federal Government on Tuesday agreed to sign an agreement with the workers’representatives on the payment of their severance...

    • Posted December 13, 2012
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  • Glut and Dumping in Cement Sub-Sector worries Analysts

      Following increased importation of cement into the country , which has adversely affected  the sub-sector operations, investor confidence in the market has been on the negative trend as investigations revealed a2.23 percent  average loss in the...

    • Posted December 13, 2012
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  • Finance Minister Accused of Under Budgeting for 2013 Subsidy

    Oil marketers have accused the Minister of Finance, Mrs. Ngozi Okonjo-Iweala of deceit, adding that the minister told them that the N888bn used to pay subsidy on fuel would be adequate. The oil marketers said they had...

    • Posted December 13, 2012
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  • 2.5mbpd is 2013 Production Target – Oil Minister

    In a bid to enhance its oil production capacity in the global energy market, Nigeria has set a new production target. The oil minister states that the country is set to step up its game from 2.4million...

    • Posted December 13, 2012
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  • Sonangol Posts $3.2 billion Profit

    As Angolan state-owned oil company, Sonangol posted a strong profit growth for 2011, the results also highlight how broken the model of Nigeria’s state-owned oil company, NNPC is due to corruption, poor management and political interference. Sonangol...

    • Posted December 12, 2012
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