Latest News

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  Aliko Dangote Makes Bloomberg List for World’s Richest People, Earns $3.5 billion so far in 2012

  Alhaji Aliko Dangote, Chairman of Dangote cement and richest man in Africa has been mentioned for Bloomberg Markets’ inaugural list of the world’s richest people, in the magazine’s December 2012 issue. The magazine says the individuals mentioned on...

  • Posted November 2, 2012
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  Finance Minister Persuades Global Investors to Nigeria as an Investment Destination

  The Nigerian Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala on Thursday asked the global investment community to increase their investments in Nigerian companies.   Okonjo-Iweala made the call in London at the...

  • Posted November 2, 2012
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  Ex-Staff of Liquidated Banks’ Protest over Settlement

  The Federal Government has been called upon by Some former workers of commercial banks that failed to meet the 2005 consolidation exercise by the Central Bank of Nigeria (CBN) to prevail on the banking sector regulator to...

  • Posted November 2, 2012
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  IMF Cautions Nigeria On Huge Spending

    On the backdrop of the shaky  global economic front, the International Monetary Fund(IMF) has advised Nigeria to avoid unnecessary  huge spending that could expose the economy  to crisis. This was the message of the Fund’s representative...

  • Posted November 2, 2012
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  NIGERIA LOSES $37 BILLION IN OIL REVENUE

    A report by the Presidential Committee and Task force on Oil and Subsidy submitted to President Goodluck Jonathan reveals that Africa’s biggest producer of Oil has lost about $37 billion of revenue in the petroleum sector over the...

  • Posted November 2, 2012
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  FG Tells Indicted Oil Marketers to Face Trial as Police Tender Hard Evidence

  The Federal Government has urged indicted Oil Marketers to Face trial rather than resort to propaganda. In the face of the propaganda, the Police Special Anti-Fraud Unit is said to have confronted the suspects with hard evidence....

  • Posted November 2, 2012
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  NNPC, DPR, Shell others embezzled N2.8 trillion – Ribadu report

  The report of Nuhu Ribadu-led Petroleum Revenues Task Force has shown that government agencies and major oil companies will be asked to refund about $17.8 billion to the Federation account. President Goodluck Jonathan on Monday asked the...

  • Posted November 1, 2012
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  Ottoabasi Abasiekong: Debt Management And Economic Sustainability (16)

  Wednesday 24th of October was another crucial day as far as the future of the ‘eurozone’ was concerned as the President of the European Central Bank (ECB) Mr Mario Draghi met with German Lawmakers over his decision...

  • Posted November 1, 2012
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  Stanbic IBTC Reports 3Q Earnings, Declares Net Income of N6.9 billion

  Stanbic IBTC reported its 3Q earnings to the Nigerian Stock Exchange yesterday. The company said its gross earnings were up 35% to N64 billion, from N47.4 billion over the same period last year. Interest income was up...

  • Posted November 1, 2012
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  Nestle’s Nine Month Income Up 63% to N15.4 billion

  Nestle, makers of popular beverage Milo, transmitted its 3Q earnings to the Nigerian Stock Exchange yesterday. Revenue was reported at N85 billion, up 21% from N70.5 billion made over 3Q, 2011. Profit before tax was up 41%...

  • Posted November 1, 2012
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  Ribadu report: Group calls on the President to Fire Petroleum, Finance ministers

  President Goodluck Jonathan has been urged to sack the Petroleum Resources and Finance Ministers, Mrs. Diezani Alison Madueke, and Dr. Ngozi Okonjo Iweala respectively, following the controversy generated by disclosures from the Nuhu Ribadu led Petroleum Revenue...

  • Posted November 1, 2012
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  PHCN Workers Move To Disrupt Electricity Supply in the Country

  The union leaders of Power Holdings Company of Nigeria (PHCN) have begun to assemble its workers to disturb efforts by investors who want to take over the company.   This development was revealed by the President of...

  • Posted November 1, 2012
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  Subsidy fraud: Jonathan Turns his Back on Desperate Marketers

  The perpetrators of the fuel subsidy fraud may be heading towards their waterloo as sources have confirmed that the president has refused to give audience to the distressed marketers who made efforts to get the Presidency to...

  • Posted November 1, 2012
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  Capital Oil Denies Involvement in subsidy fraud, Accuses Access Bank CEO of Hidden Interests

  The management of Capital Oil and Gas Industries Limited has denied any involvement in the fraudulent collection of subsidy claims following allegations levied against them by the Presidential Committee on Subsidy, headed by Aigboje Aig-Imoukhuede. The Media...

  • Posted November 1, 2012
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