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  Former PHB Bank Chief Allegedly Diverted N45m to Pay Tithe

  An Economic and Financial Crimes Commission (EFCC) prosecution witness has disclosed sordid details centered around how former Bank PHP Managing Director, Francis Atuche, diverted N45 million from the bank to pay tithes to two catholic churches in...

  • Posted September 27, 2012
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  RIM Moves to Consolidate Dominance on the Nigerian Market, Opens Flagship Store

  Research in Motion (RIM), manufacturers of Blackberry devices, is taking practical steps to establish a larger footprint across the Nigerian and entire African market. The company which has experienced severe market penetration loss in North America due...

  • Posted September 27, 2012
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  Kogi Floods: FG Mobilizes Contractors to Site, Alternative Route Ready Today

  The Federal Government has mobilized three construction firms to the site of the Lokoja-Abuja road which has been rendered impassable by floods for about a week. Minister of Environment, Mrs. Hadiza Mailafia, addressing journalists at the Federal...

  • Posted September 27, 2012
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  Babangida’s $12.4bn Oil Windfall Theft Suit: Final Judgment In November

  Hope for a definite legal pronouncement and accountability for the missing $12.4 billion oil windfall was yesterday kept alive as the Federal High Court in Abuja finally adjourned the suit to 23 November 2012 for judgment. This...

  • Posted September 26, 2012
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  Central Bank directs banks to implement sustainable banking principles

  The Central Bank of Nigeria (CBN) has directed banks, Discount Houses and Development Finance Institutions (DFIs) to commence the implementation of the Sustainable Banking Principles with effect from today. The policy aims at delivering positive development impacts...

  • Posted September 26, 2012
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  Lagos Assembly approves Governor Fashola’s N80b bond

  Governor Babatunde Fashola of Lagos State can now access a bond of N80 billion as part of the amount required to fund the 2012 budget as the state House of Assembly has granted approval to his request....

  • Posted September 26, 2012
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  Illegal Sale of PHCN: Caveat Emptor By Femi Falana SAN

  It is the height of shameful impunity on the part of the National Council of Privatisation to sell the PHCN to the unpatriotic individuals who have diverted and cornered the public funds earmarked for the uninterrupted supply of...

  • Posted September 26, 2012
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  $1.12 billion for PHCN GENCO Assets, Blacklisted Billionaire Debtor- Otedola among top bidders

  Eight Companies sent in their bids yesterday for the Power Holding Company of Nigeria (PHCN) and just six were announced as having met the criteria set. Transcorp;  Forte Oil (owned by Otedola); CMEC consortium which includes China...

  • Posted September 26, 2012
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  Blacklisted Billionaire Debtors Lobby to Borrow More from Banks

  Serious lobbying has commenced by some billionaire debtors, that were barred by CBN from taking further loans from banks in the country. Sources have revealed that the blacklisted billionaires are on the necks of influential politicians and...

  • Posted September 26, 2012
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  Zenith Bank Plc named the Best Performing Africa Investor (Ai) 40 Company

  Africa investor (Ai), a leading international investment and communications group, announced the winners of  its prestigious Africa investor Index Series Awards, that was held on the 21st of September 2012 at the New York Stock Exchange during...

  • Posted September 26, 2012
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  Intercontinental Bank Acquisition: Access Bank Records N26.13 billion Net Income

  In just six months, Access bank made N26.13 billion of profit minus tax in this year, powered by the acquisition of Intercontinental bank. In a statement issued by Mr. Olusegun Fafore, Team Lead, Media Relations, the bank’s...

  • Posted September 26, 2012
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  El-Rufai allocated PHCN plots to wives, friends – Witness

  A prosecution witness in the trial of former Minister of the FCT, Nasir el-Rufai, Mr. Sunday Idowu, insisted  that the ex-minister illegally allocated plot 1201 to his family members, the News Agency of Nigeria reported on Tuesday. Idowu, an...

  • Posted September 26, 2012
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  Oswald Boateng, Atlantic Energy & Made in Africa Foundation Supports AfDB’s $22bn “Marshall Plan” for Africa

  The African Development Bank (AfDB) has proposed plans to float Africa’s first infrastructure bonds to member nations to raise up to $22 billion for investments in much needed infrastructure projects such as ports, railways, roads and energy,...

  • Posted September 26, 2012
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  Startling statistics: 60 million Nigerians spend N1.6trillion on generators annually

  Some interesting statistics on the usage of power generating sets in Nigeria has been revealed by the Director-General of Centre for Management Development, Dr Kabir Usman. According to him, about 60 million Nigerians spend N1.6 trillion on...

  • Posted September 25, 2012
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