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  • Naira Gains on Inflows, Reserves

    The naira snapped three days of declines on inflows and on bets the central bank will support the currency as reserves increased. The currency of Africa’s biggest oil producer climbed 0.1 percent to 158.38 per dollar as of 3:35 p.m....

    • Posted September 6, 2012
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  • Nigerian Police Partners SEC to Tackle Capital Market Infractions

    The Nigerian Police has seconded 18 officers to the Securities and Exchange Commission (SEC) in order to protect investors against sharp practices of fraudulent fund managers, wonderbanks and other market infractions. Speaking on the development the Inspector...

    • Posted September 6, 2012
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  • N5,000 note’ll pose threat to security – Lawmakers

    Some members of the Lagos State House of Assembly on Tuesday said  the proposed introduction of N5,000 currency by the Central Bank of  Nigeria would threaten the country’s security. Mr Mufutau Egberongbe , Action Congress of Nigeria...

    • Posted September 5, 2012
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  • Iweala, Aganga Named As Potential Replacements for Outgoing WTO Head

    The names of Ngozi Okonjo Iweala and Segun Aganga, both members of the Federal Cabinet and Economic Management Team are being bandied as potential candidates for the leadership of the World Trade Organization (WTO). Current WTO chief,...

    • Posted September 5, 2012
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  • Air Nigeria: Jimoh Ibrahim Throws in Towel, Sacks Workers

    Air Nigeria may have come to the end of the tarmac, as company Chairman Jimoh Ibrahim has cited employee disloyalty and weak environmental conditions for the folding up of affairs at the airline. The management of the...

    • Posted September 5, 2012
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  • Nigeria Customs Service Generates N476.33 billion Revenue

    The Nigeria Customs Service generated N476.33bn revenue for the federation and non-federation accounts from January to July, this year, according to a document obtained from the NCS headquarters in Abuja on Tuesday. The document, made available to...

    • Posted September 5, 2012
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  • Dangote & Business Elite Support CBN Policy, Envision N10,000 Note

    The Currency Restructuring Project of the Federal Government has found allies in the person of Aliko Dangote and other Nigerian business elite. Speaking on the N5,000 note, Alhaji Dangote said, “People are saying that Central Bank is...

    • Posted September 5, 2012
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  • Infrastructure Top Priority of Sovereign Fund Chief, Uche Orji

    Uche Orji, the former Goldman Sachs Group Inc. and UBS AG banker named to lead Nigeria’s sovereign wealth fund, plans to make spending on local infrastructure a key aim after local lawmakers opposed the fund’s creation. “It’s a crucial cornerstone of...

    • Posted September 5, 2012
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  • Osun requires N221 billion for Urban Renewal –Aregbesola

    Osun State Governor, Mr. Rauf Aregbesola, has said the state requires over $1.4bn (N220bn) to rebuild houses in major towns and cities in line with his administration’s urban renewal programme. The governor, while speaking at the UN-Habitat...

    • Posted September 5, 2012
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  • Is Incompetence the Major Reason the CBN Spends N40 billion Annually to Print Naira?

    The Naira (n): A store of value or money owned by foreigners but used by the Nigerian people to facilitate commerce in Nigeria. Nowadays I doubt there is any square meter of Nigeria that has been left...

    • Posted September 5, 2012
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  • N5,000 Note: Sanusi Proposes and Jonathan Approves – Minister

    The Minister of National  Planning, Shamsudeen Usman, has said that the Federal Government does not need the approval of the lawmakers to implement the currency restructuring exercise, at the center of which is the scandalous N5,000 note....

    • Posted September 5, 2012
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  • Foreigners Own Naira Patent – CBN

    The trademark patent right of the naira notes in circulation is owned by non-Nigerians, the Central Bank of Nigeria (CBN) has revealed. The apex bank yesterday cited this as one of the reasons it wants to redesign...

    • Posted September 4, 2012
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  • Naira Pares Drop As Economic Expansion Quickens

    The naira pared a decline to the weakest level in three weeks after a report showed economic growth accelerated in the second quarter. The naira was unchanged at 158.1 per dollar as of 4:41 p.m. in Lagos,...

    • Posted September 4, 2012
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  • Nestlé addressing micronutrient deficiency in Nigeria

    Thousands of farmers in Nigeria are supplying the grain for a new range of Nestlé ready-to-eat cereals designed to help address two of the country’s most prevalent micronutrient deficiencies. The company is using maize from local producers...

    • Posted September 4, 2012
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