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  FBN Capital introduces Fixed Income Fund, Money Market Fund

  In its resolve to bolster wealth creation through specialized products, FBN Capital, the investment and asset management business of the FirstBank Group has launched two funds – the FBN Money Market Fund and FBN Fixed Income Fund....

  • Posted June 22, 2012
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  Air Nigeria, Others Accused of Diverting N 300 billion Aviation Intervention Fund

  The National Assembly Joint Committee investigating the Dana Air crash has accused Airline operators of the country of diverting the N 300 billion Aviation Intervention Fund made available to the sector by the Central Bank of Nigeria...

  • Posted June 22, 2012
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  Air Nigeria Suspended over Financial Distress, Charged to Court by FIRS over N 5 bn Back-taxes

  The Nigeria Civil Aviation Authority (NCAA) yesterday suspended the operations of Air Nigeria over alleged financial distress of the company which it says could affect the safety of the carrier. Air Nigeria spokesperson, Sam Ogbogoro confirmed the...

  • Posted June 22, 2012
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  Senate Orders Arrest of Pension Reform Task Team Officials

  The Nigerian Senate has ordered the arrest of the Pension Reform Task Team officials for alleged fraud, embezzlement and misappropriation of funds. The arrest warrant covers the Chairman of the Task Team, Mr. Abdulrasheed Maina and two...

  • Posted June 22, 2012
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  Nigerian Stock Exchange Watch: ASI (-0.76%) Performance Plagued by Profit-Takers

  The All Share Index shed 0.76% in today’s trading on the back of a bearish market with the activities of profit takers serving as a catalyst. The banking sub-index fell 2.10% as Access (-4.42%), GTBank (-4.46%), UBA...

  • Posted June 21, 2012
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  New Government Policy to Build 1 million houses per annum

  The Federal Government has approved a new housing policy that envisions the construction of 1 million houses on a yearly basis. The Minister for Housing and Urban development, Ms. Amma Pepple disclosed this to journalists at the...

  • Posted June 21, 2012
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  Dangote chairs Stock Exchange National Council Meeting

  The National Council of The Nigerian Stock Exchange (“The Council”) met on Tuesday, 19 June 2012. Alhaji Aliko Dangote, whose presidency of The Exchange was recently confirmed by the Court of Appeal, sitting in Lagos chaired the...

  • Posted June 21, 2012
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  Skye Bank builds capacity for ‘YouWin’ entrepreneurs

  In order to help develop the entrepreneurial and managerial skills of the awardees of the Youth Enterprise With Innovation in Nigeria (YouWin) scheme, Skye Bank Plc has held a customer engagement and enlightenment forum for the awardees....

  • Posted June 21, 2012
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  Reps Query Subsidy Overpayments to Otedola’s Company, Others

  The House of Representatives Committee on Petroleum Resources (Downstream) has unraveled a series of over-payments made to major oil marketers from the Petroleum Equalization Fund (PEF). The oil companies mentioned in this recent investigation include Forte Oil...

  • Posted June 21, 2012
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  FG to Realize N 200 billion from Sale of Power Assets

  The Federal Government expects to earn N 200 billion from the privatization of the power sector even as the successor companies take up assets formerly belonging to the Power Holding Company of Nigeria (PHCN). The Director-General of...

  • Posted June 21, 2012
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  Nigerian Stock Exchange Watch: ASI (+2.03%) Gains Big as Investors Mop up Bank Shares

  The All Share index gained major points in today’s trading as Investors showed renewed interest in banking stocks. However the bullish performance of the banking sub-sector was not the only driver of today’s gain, as Dangote Cement...

  • Posted June 20, 2012
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  Rio 20+: Sustainable Development needs Innovative Financing and Private Sector Support

  Innovative sources of finance and resources from the private sector are key to achieving sustainable development in Africa, African leaders and world experts said yesterday at the United Nations Conference on Sustainable Development, or Rio+20, in Rio...

  • Posted June 20, 2012
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  NLNG To Offer Two Additional Spot Cargoes For July

  Nigeria LNG Ltd., Africa’s biggest exporter of liquefied natural gas, tendered to sell two additional cargoes of the fuel on the spot market next month, three people with knowledge of the matter said. The first shipment is scheduled to...

  • Posted June 20, 2012
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  Fortis becomes Second Micro Finance Bank to list on Nigerian Stock Exchange

  The Nigerian Stock Exchange has admitted Fortis Micro Finance Bank into its official daily list. This is the second micro-finance bank to be listed on the Nigerian Stock Exchange. According to sources close to the company, the...

  • Posted June 20, 2012
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