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  Ecobank Transnational Declares N254.4 billion in Gross Earnings After Nine Months

  Ecobank Transnational declared gross earnings of N254.4 billion in its 3Q, 2012 earnings. This result represented a 63% year-on-year improvement over the N155.9 billion it made in 2011. Provision for doubtful debts soared 8.8% to N13.5 billion...

  • Posted October 25, 2012
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  Earnings: Fidelity Reports N13.1 billion Profit After Nine Months, 117% year-on-year improvement

  Mid-tier bank, Fidelity, reported its earnings to the Nigerian Stock Exchange before the close of business yesterday. The bank declared gross earnings of N80.4 billion, a remarkable growth of 75% from the N46.1 billion it made over...

  • Posted October 25, 2012
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  AfDB hosts a workshop to boost local currency bond market development in Africa

  The African Financial Markets Initiative (AFMI), managed by the African Development Bank (AfDB), hosted a Pan-African Stakeholder Workshop from October 22 to 24, 2012, at the Ramada Plaza Hotel in Tunis. The workshop offered a unique opportunity...

  • Posted October 25, 2012
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  Export Projects: NEXIM disburses N85 billion

    The Nigerian Export Import Bank, NEXIM disbursed over N85 billion to support 900 export projects in the real sector. This development was disclosed by the Managing Director and Chief Executive Officer of the bank, Mr. Roberts...

  • Posted October 25, 2012
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  EFCC Moves to tackle Money laundering and Terrorist Financing

  In a bid to tackle corruption and insecurity in the country, the Executive Chairman, Economic, and Financial Crimes Commission (EFCC), Ibrahim Lamorde has called for a strong political resolve to deal with money laundering and terrorist financing....

  • Posted October 25, 2012
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  Flooding cuts Oil production by 500,000 barrels per day

    Nigeria has lost at least a fifth of its oil output in recent weeks due to severe flooding and oil theft, government oil officials said on Wednesday, in comments that helped push oil prices higher. Nigeria’s...

  • Posted October 25, 2012
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  Ribadu Report Indicts FG, Shell, Eni, Total and NLNG of Grand Corruption, $183 billion Fraud

  Former Economic and Financial Crimes Commission (EFCC) chairman and ACN presidential aspirant, Mallam Nuhu Ribadu has released his report on the sleaze in Nigeria’s oil and gas sector. Just after the fuel subsidy riots in January, Ribadu...

  • Posted October 25, 2012
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  Benin Disco: Southern Consortium Accuses BPE of Rigging, Denies Breaching Privatization Rules

  One of the competitors for the Benin Electricity Distribution Company (BEDC) , the Southern Electricity Distribution Company (SEDC) has denied claims that it violated the investment schedule guidelines for the Request for Proposals (RFPs) provided by the...

  • Posted October 25, 2012
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  Women Empowerment: CBN to Launch N220bn MSME Fund

  The Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi, revealed that everything was set for the launching of a N220 billion-Micro Small and Medium Enterprises Development Fund (MSMEDF) before the year runs out. Sanusi said,...

  • Posted October 25, 2012
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  Ribadu Report Exposes Crass Corruption in Petroleum Ministry, Diezani Reacts

    When the petroleum minister, Diezani Alison-Madueke set up the Nuhu Ribadu led Petroleum Revenue Special Task Force, she had no idea she would emerge as one of the culprits serially indicted in his committee’s findings. The Minister...

  • Posted October 25, 2012
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  Floods reduced oil production by 500,000 bpd in third quarter – DPR

  Department of Petroleum Resources yesterday (Tuesday) said that Nigeria’s daily crude oil production for the third quarter of 2012 dipped by 500,000 barrels as a result of production shut-down caused by the ravaging floods in some parts...

  • Posted October 24, 2012
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  We can buy who we want: Manchester United say debts will not hinder big transfers

  What Fergie wants, Fergie gets – that’s the money-no-object claim being made by Manchester United vice-chairman Ed Woodward, despite the club’s £360million debt. Woodward said Sir Alex Ferguson has been supported in his pursuit of every player...

  • Posted October 24, 2012
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  MTN introduces new software for Microfinance Banks

  As part of  efforts to improve microfinance banking in Nigeria, MTN has introduced an innovative micro-bank software called  MTN XaaS, for microfinance banks. The software, which is developed in partnership with Computer Warehouse Group (CWG), will be ...

  • Posted October 24, 2012
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  $180m Halliburton scandal: FG orders re-arrest of principal suspects

  Indications emerged in Abuja on Tuesday that the Presidency has issued a directive to the Police to re-arrest the major suspects of the $180million Halliburton bribery scandal. The instruction received from the presidency according to source is...

  • Posted October 24, 2012
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