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  • Toyota to recall 7.4 million cars

    Toyota is voluntarily recalling more than seven million vehicles worldwide, including some Yaris, Corolla and Camry models, over faulty window switches, reports the BBC. It affects 1.39 million cars in Europe – 138,000 in the UK –...

    • Posted October 10, 2012
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  • House of Assembly seeks to inflate budget oil price

    Nigeria’s parliament speaker Aminu Tambuwal said on Wednesday the house had proposed to inflate cabinet’s oil price assumption in the 2013 budget to $80 barrel, from $75 a barrel proposed, signalling a likely showdown over the bill....

    • Posted October 10, 2012
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  • Central Bank refunds N5bn illegal bank charges to customers

    The Central Bank of Nigeria has said that it has recovered and returned to customers a total of N5bn wrongfully taken from depositors by banks operating in the country. It also said it would focus on the...

    • Posted October 10, 2012
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  • Nigeria Gross Domestic Product (GDP) growth rate to hover around 7% – IMF

    Nigeria could achieve an overall Gross Domestic Product (GDP) growth rate of 7% in 2012, this declaration was made yesterday by the International Monetary Fund (IMF). Adding that, it was possible if Nigeria springs back in its...

    • Posted October 10, 2012
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  • ‘Insurance adds only 0.7% to GDP’

    The insurance sector adds about 0.7 per cent to the Gross Domestic Product (GDP), this assertion was made by Vyasa Krishna Burugupalli, a consultant to the World Bank.   Burugupalli disclosed this while speaking at a forum...

    • Posted October 10, 2012
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  • Banks’ Raise ATM Daily Withdrawal Limits

    Automated Teller Machines (ATMs) in the country before now permitted only a withdrawal limit of N100,000 daily, but recently some banks have increased that amount to N150,000 daily.   Guaranty Trust Bank (GTB), Diamond Bank, and United...

    • Posted October 10, 2012
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  • FG Grants Fuel Import Allocations to Indicted Oil Marketers

    Not a few eyebrows have been raised over the fourth quarter fuel import allocation list soon to be released by the by the Petroleum Products Pricing Regulatory Agency (PPPRA). The agency which approves the list of oil marketers...

    • Posted October 10, 2012
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  • Diamond Bank Nets N18.2 billion in Third Quarter Earnings Report

    Diamond bank released its third quarter unaudited financial statements to the Nigerian Stock Exchange yesterday. The company reported gross earnings of N110 billion, up 48% from the N75 billion recorded over the same period last year. The...

    • Posted October 10, 2012
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  • Why Ifeanyi Ubah, Capital Oil boss was Arrested by Special Fraud Unit

    Capital Oil and Gas CEO, Ifeanyi Ubah was yesterday arrested by members of the Special Fraud Unit (SFU) over allegations of his company’s involvement in the fuel subsidy scam. The Aig Imokhuede-led committee on on Verification and...

    • Posted October 10, 2012
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  • Nigeria Stock Exchange Watch: Bulls Dominate Market as Diamond Bags 10% Gain

    The bulls dominated the Nigerian Stock Exchange in today’s trading as the All Share Index booked a gain of 0.83%, bringing the years tally to 29.47%. The banking sub-sector recorded 9 gainers vs 3 losers as the...

    • Posted October 9, 2012
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  • Trial of former Bank PHB boss stalls over allegation of threats to witness

    The trial of a former Managing Director of Bank PHB, Francis Atuche, was on Tuesday stalled again, following the absence of a prosecution witness, Mr Bolaji Ogunsola, who alleged threat to his life. Atuche is being prosecuted...

    • Posted October 9, 2012
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  • Police arrest Ifeanyi Uba, Capital Oil chief over fuel subsidy scam

    The Police Special Fraud Unit, Ikoyi has arrested oil magnet, Mr Ifeanyi Uba, the Managing Director of Capital Oil & Gas Industries Ltd over the involvement of his companies in the fuel subsidy scam. Uba was taken...

    • Posted October 9, 2012
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  • Kinfe Kahssaye resigns as CEO of Air Nigeria

    Kinfe Kahssaye, the Chief Executive Officer of AirNigeria, has resigned from the troubled airline. SaharaReporters learnt that Mr. Kahssaye finally decided to step down yesterday after discovering that the airline was unlikely to return to business. Air...

    • Posted October 9, 2012
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  • Ottoabasi Abasiekong: Politics And The State 12

    2012 Politics has continued to reveal the new year message of Christian Leader Dr Myles Munroe that it will test the character and strength of men when it comes to the issue of Leadership. Leadership and Politics...

    • Posted October 9, 2012
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