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  • Banks in Imo embark on strike over huge taxes

    Banks in Imo State yesterday embarked on s strike following an alleged imposition of huge tax on them by the government. The industrial action which is said to be an indefinite strike, came up following the refusal...

    • Posted May 25, 2012
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  • Airtel ranked amongst top 100 global brands

    BHARTI Airtel, a leading global telecommunications company with operations in 20 countries across Asia and Africa, yesterday, joined the elite club of most valuable top 100 global brands. With an overall ranking  of  71 and brand value...

    • Posted May 25, 2012
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  • Labour Shreds Nnaji’s Electricity Tariff Hike Plan

    TOP government functionaries had a tough time selling the new electricity tariffs regime to Labour leaders yesterday at a town-hall meeting in Abuja where President of the Trade Union Congress, Peter Esele, shredded the proposal. Curiously though,...

    • Posted May 25, 2012
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  • Bilateral Trade with Brazil Tops N 1.4 trillion

    Sorronnadi Ezebuiro, the Secretary General of the Nigerian Brazil Chamber of Commerce has disclosed that the bilateral trade between Nigeria and the South American country has reached N 1.4 trillion. Speaking to journalists during the inauguration of...

    • Posted May 25, 2012
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  • Oando Q1 2012 Net Income Slides 5% YoY

    Oando Plc has released its Q1, 2012 results to the Nigerian Stock Exchange. Revenue increased to N 158 billion, up 38% from the N 115 billion it made in Q1, 2011. Production costs soared by 45%, topping...

    • Posted May 24, 2012
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  • ETI Informs Investors on Dividend Payment Schedule

    Ecobank Transnational Incorporated (ETI) has formally informed The Exchange that the closure date of register of the company will be Monday, July 2, 2012 while the dividend payment date will July 17, 2012. This according to ETI...

    • Posted May 24, 2012
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  • AGF recovers N14b police pension funds from banks

    The Accountant-General of the Federation (AGF) Jonah Ogunniyi Otunla has recovered a total of N14.07 billion illegally deposited in various commercial banks by the Task Team on Pensions. The money is being kept  with Central Bank of...

    • Posted May 24, 2012
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  • Senators May Seek to water down Fuel Subsidy Investigation

    Despite the thorough job the House of Representatives conducted concerning the Fuel Subsidy Investigation, the Senate has made it clear that they deem it necessary to conduct their own investigation as is their constitutional right. Setting next...

    • Posted May 24, 2012
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  • Senators Take Ownership of PIB Submission Process

    The upper Chamber of the House of Assembly has taken conclusive steps to present a harmonized version of the Petroleum Industry Bill (PIB), after several delays by the Presidency in presenting its own harmonized version. The Chairman...

    • Posted May 24, 2012
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  • CBN calls on Banks to boost Private Sector Credit

    Unhappy with the decline of credit being extended to the private sector by banks in the country, the CBN has called on the banks to increase lending to private sector in order to boost the economy. Governor...

    • Posted May 24, 2012
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  • Transcorp Q1, 2012 Earnings Top N 500 Million

    Transcorp, Nigeria’s most diversified conglomerate has released s Q1, 2012 results on the floor of the Nigerian Stock Exchange. Revenue fell by 22% to N514 million, from N663 million over the corresponding period in 2011. Net Finance...

    • Posted May 23, 2012
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  • Dangote Flour FY 2011 Results, Profits Slide Big, Declares 10k Dividend

    Dangote Flour released its 2011 FY earnings financial statements yesterday. The Flour, Noodles and Spaghetti maker reported sales of N 66.3 billion, down 2% when compared to the N 67.6 billion it made in 2010. Manufacturing costs...

    • Posted May 23, 2012
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  • Dangote, Chinese, Italian Investors top list of investors in Abuja land swap scheme

    DANGOTE Group Plc and Edimo Gruppo of Italy top the list of investors that have expressed interests in the widely acclaimed land swap scheme devised by the Federal Capital Territory Administration (FCTA) to accelerate provision of affordable...

    • Posted May 23, 2012
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  • House Summons Nnaji , NERC over Planned Hike in Electricity Tariff

    The House of Representatives has summoned the Minister of Power and the  Chairman of Nigeria Electricity Regulatory Commission (NERC), Prof. Barth Nnaji, Mr Sam Amadi  rspectively to appear before it next week  to explain the rationale behind...

    • Posted May 23, 2012
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