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  • Sanusi Shuts Down Lawmakers Crude Benchmark Proposal, Advises on $75

    The Central Bank Governor, Mallam Lamido Sanusi, has faulted the proposal by federal lawmakers to hike the benchmark crude price from $75 to $82. Sanusi appeared before the House of Representatives Joint Committee on Finance and Legislative...

    • Posted October 4, 2012
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  • Indian Bharat signs 10,000 bpd Nigeria oil deal

    Indian state-run Bharat Petroleum Corp has signed a deal with Chevron to buy 10,000 barrels per day (bpd) Nigerian crude in the year ending March 31, 2013, sources said on Wednesday. Chevron will supply light sweet barrels...

    • Posted October 3, 2012
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  • Federal Government sacks, redeploys aviation staff

    One year after the Federal Government carried out a major shake-up in the aviation sector, a similar exercise has been repeated with the dismissal and redeployment of some directors. In the latest shake-up, seven General Managers have...

    • Posted October 3, 2012
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  • FEC approves N1.5billion to complete Nnamdi Azikwe’s mausoleum

    The Federal Executive Council has approved the contract for the completion of a mausoleum in Onitsha, Anambra state, in memory of the first president of Nigeria, late Dr Nnamdi Azikiwe. Briefing state house correspondents after the council...

    • Posted October 3, 2012
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  • Dana crash threatens Africa’s aviation insurance rating – AIBA

    The African Insurance Brokers Association, a body of the African Insurance Organisation, has said that the crash of a Dana aircraft in Nigeria in June this year may lower the position of African aviation insurance sector in...

    • Posted October 3, 2012
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  • Oando Can Overhaul Electricity Supply in Nigeria

    Shareholders of Oando Plc have expressed faith in the company’s capability to deliver dividends in the transformation of the Nigerian power sector.                                 They...

    • Posted October 3, 2012
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  • Unity Bank Dragged to Court by Jigna Farms

    Jigna Farms has yanked Unity Bank to the Federal High Court Bwari for allegedly acting in way that denied it from assessing a N500 million loan under the Central Bank of Nigeria (CBN) Commercial Agriculture Credit Scheme...

    • Posted October 3, 2012
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  • 12 Wonder Banks Shutdown by SEC

    The Securities and Exchange Commission (SEC) has shut down the operations of 12 illegal financial institutions also identified as ‘wonder banks’. A highly placed source who spoke with The Guardian yesterday, also disclosed that the case files...

    • Posted October 3, 2012
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  • Over 2000 Hoarded Transformers to be Deployed by PHCN

    Darius Ishaku, the Minister of State for Power, has ordered that every one of the 33/11KV transformers, panels, oils as well as other power tools at the Central Stores of the Power Holding Company of Nigeria,(PHCN), Shogunle,...

    • Posted October 3, 2012
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  • MTEF: Reps Throw Out FG’s $75/barrel Proposal, Recommend $82

    The lawmakers in the House of Representatives saddles with the responsibility of reviewing the 2013-2015 Medium Term Expenditure Framework document have recommended that the  oil price benchmark be reviewed upwards to $82 as against the Federal Government’s...

    • Posted October 3, 2012
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  • Reps Express Alarm over Nigeria’s $25 billion Projected Debt Profile

    Members of the House Committee on Legislative Budget and Research have expressed alarm at the present and projected levels of borrowing by Federal, State and Local governments. The level of borrowing was disclosed when the Director General of...

    • Posted October 3, 2012
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  • Fuel Subsidy Thieves on the Run – EFCC

    The Economic and Financial Crimes Commission has alerted the general public of the failure of three wanted oil subsidy fraudsters too report to the commission for prosecution. EFCC spokesman, Wilson Uwujaren, said “The three persons declared wanted by...

    • Posted October 3, 2012
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  • Court orders Central Bank to declare cash, assets seized from Cecilia Ibru

    A Federal High Court sitting in Lagos, Southwest Nigeria, this morning ordered the Central Bank of Nigeria, CBN, to declare the total cash and properties recovered from the former Chief Executive Officer of Oceanic Bank, Mrs.Cecilia Ibru,...

    • Posted October 2, 2012
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  • More than 2,000 transformers “idling away” in PHCN stores

    More than 2,000 transformers and power transmission accessories are “idling away” at the central stores of PHCN in Lagos, according to revelations from the power ministry. The revelation emerged at an unscheduled visit of the Minister of...

    • Posted October 2, 2012
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