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  • N5000 Note is illegal – Lawmakers Tell Sanusi

    The members of the National Assembly, upon resumption yesterday, called the Central  Bank governor to order over plans to review the National currency without their input. Citing Section 4(1 and 2) of the 1999 Constitution and Section 8(2)...

    • Posted September 19, 2012
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  • Naira Gains as Central Bank Maintains Rates at Record High

    The naira strengthened after the central bank kept its benchmark interest rates at a record high to support the currency and control inflation. The currency of Africa’s biggest oil producer gained as much as 0.4 percent, before trading 0.1 percent...

    • Posted September 18, 2012
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  • Why Nigerian banks must rethink their business strategies?

    “The financial system is more than just institutions that facilitate payments and extend credit. It encompasses all functions that direct real resources to ultimate users… It is the central nervous system of a market economy.” — Sanusi...

    • Posted September 18, 2012
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  • Fidelity, Access, Citi, StanChart sign MoU with Shell on Local Content

    Three indigenous banks, Fidelity, Access and First Bank, as well as two foreign institutions, Citi Bank and Standard Chartered at the weekend gave a boost to the Nigerian Local Content initiative of the Federal Government of Nigeria....

    • Posted September 18, 2012
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  • NLNG Train 7 to attract N1.89tn FDI

    Nigeria will attract fresh Foreign Direct Investment worth $12bn (N1.89tn) within the next four years through the proposed Train 7 of the Nigeria Liquefied Natural Gas project. The project is also expected to generate additional $3bn revenue...

    • Posted September 18, 2012
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  • National Assembly Resumes Today as N5000 Note, Other Pressing Issues on Agenda

    The world’s highest paid lawmakers are set to reconvene sitting today, after two long months of recess. The issues on hand in Nigeria are myriad and touch every area of national life. Topping the list on the...

    • Posted September 18, 2012
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  • CBN Seeks ATM Upgrade to Allow Coins

    The Central Bank of Nigeria has said it will facilitate the introduction of Automated Teller Machines that can dispense coins to encourage the citizens imbibe the culture of spending them. The Head of Shared Services, CBN, Mr....

    • Posted September 18, 2012
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  • FCMB set to conclude FinBank Merger in October

    The management of First City Monument Bank (FCMB) has disclosed that it is set to finalize its merger with Finbank no later than the end of October. Deputy Managing Director of FCMB, Segun Odusanya, revealed to journalists...

    • Posted September 18, 2012
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  • CBN Set to Issue N863 billion Treasury Bills before 2013

    The Central Bank of Nigeria (CBN) is to undergo a monetary control exercise that will see the apex bank issue N863.03 worth of treasury bills between now and the end of the year. The treasury bills which...

    • Posted September 18, 2012
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  • Is the EFCC Turning the Spotlight on the Judiciary?

    The Economic and Financial Crimes Commission (EFCC) has unveiled plans to arrest and try corrupt members of the Nigerian judiciary in what analysts are referring to as a positive new development. The Nigerian judiciary routinely engages directly...

    • Posted September 17, 2012
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  • Guinness Earnings Top N126 billion, Declares N8 Dividend

    Guinness Nigeria released its 2012 audited financial statements today, reporting a revenue of N126.28 billion, up 2.1% from the N126.33 billion it made in 2010. The company reported a 14.2% increase in advertisement and promotion expenditure at...

    • Posted September 17, 2012
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  • National Bureau of Statistics Distances Itself from N5000 Note Survey

    The management of the National Bureau of Statistics has said it never carried out a survey which showed 75% of Nigerians are against the N5000 note and currency restructuring exercise being spearheaded by the Central Bank of...

    • Posted September 17, 2012
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  • Oil Price Continues to surge on Expected US Recovery

    Oil traded near the highest price in four months before reports forecast to show a strengthening economy in the U.S., the world’s biggest consumer of crude. Futures were little changed in New York after surging as high as $100.42...

    • Posted September 17, 2012
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  • Bayelsa Fishing Communities Protest Eni Oil Spill

    Italian oil firm Eni said on Saturday an oil spill near its facilities in the Niger Delta had been contained, but local people said the pollution had spread and damaged their fishing. Eni said the spill occurred...

    • Posted September 17, 2012
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