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  • Nigeria Stock Exchange Watch: ASI (+0.36%) Starts Off Positive, Dangote Flour (+4.89%) Continues to climb

    The All Share Index gained 0.36% and started the week on a positive note. The Consumer goods drove the positive performance of the bourse today as the sub-index closed up 1.23%. The banking sub-index fell marginally by...

    • Posted July 9, 2012
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  • GLOBACOM Subsidizes Police Telecommunications

    Indigenous telecommunications giant, Globacom has taken the initiative to subsidize the telecommunications needs of the Nigerian Police Force by providing them with 110,000 GSM lines. The police can make calls toll free to other police officers in...

    • Posted July 9, 2012
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  • 7 Nigerian banks listed in Top 1000 Worldwide

    Seven Nigerian banks have been featured in a ranking of the Top 1000 banks in the world. The list is compiled by The Banker magazine, a publication of the Financial Times of London. The seven Nigerian banks...

    • Posted July 9, 2012
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  • Fire at Dangote Sugar Refinery may affect National supply

    A fire incident over the weekend at the Dangote Sugar plant at the Apapa ports may affect the sugar supply nationwide. The plant owned by Alhaji Aliko Dangote, Africa’s richest man, has a capacity of 600,000 metric...

    • Posted July 9, 2012
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  • CBN to Review Bank Tariffs

    The Central Bank of Nigeria has begun the review of bank charges applied in the industry in order to align the tariff regime with the present economic realities. According to a circular released by the apex bank,...

    • Posted July 9, 2012
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  • Eni blames sabotage for Bayelsa oil spill

    Italian oil major Eni said on Sunday there has been an oil spill on its Nembe-Obama pipeline in Nigeria’s onshore Niger Delta due to sabotage. “Repair work has started. The wells of Nembe South have been closed...

    • Posted July 9, 2012
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  • Insights into Tiger Brands Acquisition of Dangote Flour

    Last Thursday, Tiger Brands announced to the Nigeria Stock Exchange (NSE) that it had reached an agreement in principle to acquire 63% of Dangote Flour. Businessnews.com.ng has insight into the details of the deal which should soon...

    • Posted July 7, 2012
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  • Nigeria Leads Africa in FDI

    The Minister of  Trade and Investments, Segun Aganga, may be one of the members of the Federal Cabinet who cannot be accused of sleeping on the job by the Nigerian people. In 2011, the Nigerian government attracted...

    • Posted July 7, 2012
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  • Jaiz Islamic Bank Of Nigeria Plans To Raise More Capital

    Jaiz Bank Plc of Nigeria, which provides Shariah-compliant banking services, said it plans to raise 8 billion naira ($49.7 million) to expand its operations. “We are targeting between the end of July and early August to raise the capital,”...

    • Posted July 7, 2012
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  • President Talks Tough on Subsidy Fraudsters, Vows to Prosecute

    President Goodluck Jonathan has steeled his resolve to ensure the fraudsters unveiled in the Aig-Imoukhuede-led Committee on subsidy claims are made to face the wrath of the law. Last weekend the Presidential spokesman, Reuben Abati, released a...

    • Posted July 6, 2012
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  • Nigeria Stock Exchange Watch: Market crosses 22,000 psychological mark

    The All Share Index gained 0.54% today as the banking sector continued to rally and recover lost ground from the price lull induced by the uncertainty in the sector. 10 out of 11 banking stocks climbed with...

    • Posted July 5, 2012
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  • Air Nigeria Moves to Sack workers as GE Repossesses its Planes

    The fortunes of Air Nigeria seem to have taken an even sharper turn for the worse as its lessor General Electric Commercial Aviation Services has moved to repossess four of the Boeing 737-300 it leased to the company....

    • Posted July 5, 2012
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  • Dangote’s Suit Against Ibeto is anti-competitive – FG

    The Federal Government has described a lawsuit brought against Ibeto Cement Company by Dangote Cement as anti-competitive. In the suit, Dangote is seeking the withdrawal of an import waiver granted Chief Ibeto by the Federal government. The...

    • Posted July 5, 2012
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  • Daewoo Engineering to Partner FG on 10,000 Megawatts Electricity Projects

    South Korean company Daewoo Engineering and Construction Company has entered into a Memorandum of Understanding with the Federal government to partner on 10,000 MW electricity projects in the country. The multi-billion dollar agreement was consummated yesterday and...

    • Posted July 5, 2012
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