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  • Govt to rescue airlines with $500 million lifeline

    THE Federal Government may have concluded plans to rescue the nation’s ailing aviation industry with the injection of $500 million for the procurement of new aircraft. According to Aviation minister, Stella Oduah-Ogiewonyi,  government this time will not...

    • Posted November 27, 2012
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  • 2013 Budget: Police Ministry Proposes to spend N2.8 billion on Anti-terrorism

    The Nigeria Police Force has proposed to spend about N2.8bn next year to fight terrorism in the country. Minister of Police Affairs, Affairs, Navy Capt. Caleb Olubode (retd.), in his defence before the house committee on police...

    • Posted November 27, 2012
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  • EFCC Insists N1.4 billion Subsidy Fraud Suspects Must Face the Law

    The Economic and Financial Crimes Commission (EFCC) yesterday told a Federal Capital Territory High Court that it has sufficient proof to put three suspects on trial for alleged N1.4billion fuel subsidy fraud. The N1.4b subsidy fraud suspects...

    • Posted November 27, 2012
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  • Ibaka Deep Sea Port Project Delayed by Legal Challenges

    The commencement of work on the Ibaka deep sea port may suffer a protracted setback if the Chairman of Mercury Maritime Concession Company Limited Rear Admiral Okoja (rtd) continues with his  legal challenge of  the project . His grievance is...

    • Posted November 27, 2012
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  • Price of Rice Hiked 20% as FG Clamps Down on Imports

    As a result of the Federal Government’s  agricultural policy to stop the importation of rice and encourage its local production the price regime  has been affected by an increment of 20%. The price which used to be pegged...

    • Posted November 27, 2012
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  • Reps Fault Envelope System for the 2013 Budget

    Members of the House of Representatives have damned the implementation of the ‘Envelope Template’ for budget preparation for Ministries, Departments, and Agencies (MDA) with no due consideration of individual peculiarity of the MDAs. This followed the condemnation...

    • Posted November 27, 2012
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  • Opposition, Civil Groups Chide Jonathan on N5 trillion Loot

    The Congress for Progressive Change (CPC) and Civil rights groups on Monday poked President Goodluck Jonathan over the rising level of corruption in his administration The groups comprising the Voters Assembly and Coalition Against Corrupt Leaders made...

    • Posted November 27, 2012
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  • Unilag Students Dazzle Africa Win Google Business Competition

      Three Students of the University of Lagos Willie Aniebet, Bolutife Ogunsola,and Michael Adeyeri  have put their names in gold, making their University proud as they  emerged winners of the Google Apps Developer Challenge for the Enterprise/Small Business Solutions...

    • Posted November 27, 2012
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  • South Africa’s FirstRand Gets Nigeria Merchant-Banking License

    FirstRand, South Africa’s second-biggest financial company, obtained a license to run a merchant bank in Nigeria, sub-Saharan Africa’s second-biggest economy. “The bank was granted a license after it met the 15 billion naira ($95.2 million) minimum capital...

    • Posted November 27, 2012
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  • Nigerian Stock Exchange Watch: ASI (+0.15%) Begins Week on Positive Note

    The All share Index started the week off on a slightly positive note with a gain of 0.15%. The Index closed at 26,360.55 whilst the market capitalization steadied at N8.39 trillion. Guinness (+0.08%) and Nigerian Breweries (+1.41%) were...

    • Posted November 26, 2012
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  • How First Bank’s Delisting on the NSE Affects your Shareholdings

    First Bank delisted its shares from the Nigerian Stock Exchange last week Friday, and listed the shares of its holding company, FBN Holdings Plc. The move came in response to regulation from the Apex bank which ordered...

    • Posted November 26, 2012
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  • Nigeria Mergers Give Starcomms New Chance Against Rivals

    Nigerian telecommunications companies operating non-GSM technology, led by Starcomms Plc, have another chance to challenge dominant rivals, such as MTN Group Ltd. (MTN), after takeovers and new investments, the Association of Licensed Telecoms Operators of Nigeria said. Starcomms Plc, a...

    • Posted November 26, 2012
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  • African Fraud Barometer: KPMG Scores Nigeria, South Africa High

      The high profile economic status of South Africa and Nigeria came under scrutiny  when a recent report released by globally renowned auditing firm KPMG revealed that the two leading economies are among the most fraudulent countries in...

    • Posted November 26, 2012
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  • Meteorology 2004 Act: Oil terminals without metres to be shut

    In spite of the ill fated, corrupt, confused, and operational failing oil sector, the Federal Government has threatened to shut oil and gas terminals in the upstream sector, should their operators turn down installation of metering systems...

    • Posted November 26, 2012
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