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  • Lufthansa Must Pay N 2.4 billion Debt – Senate Aviation Committee

    German airline Lufthansa has been ordered by the Nigerian Senate to pay US$ 14.8 million or over N 2 billion to the country as damages for flouting a Bilateral Air Service Agreement (BASA) it entered into with...

    • Posted May 10, 2012
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  • Nigeria Set to Re-commence Fuel Haulage by Rail

    The Nigerian Railway Corporation (NRC) is set to begin inter-state and inter-regional fuel haulage in the country. This development comes as the Lagos to Kano route is almost re-established. The NRC has been hauling cement inter-state (from...

    • Posted May 10, 2012
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  • Hilton to Collaborate with Transcorp on Eight New Hotel Projects

    Hilton Worldwide, owners of chains of luxury hotels across the world, has disclosed its plans to further deepen its partnership with Transnational Corporation of Nigeria Plc (Transcorp) to develop eight new luxury hotel facilities across Nigerian cities...

    • Posted May 10, 2012
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  • Ibori Case Causes British Government to Shift Attention to Children of Corrupt Politicians

    The British government has signaled it will begin to clamp down on the children of corrupt politicians in order to further hamper the activities of their parents. This disclosure was made to CNN by Detective Chief Inspector...

    • Posted May 10, 2012
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  • Jonathan arrives Addis Ababa for World Economic Forum on Africa

    President Goodluck Jonathan arrived Addis Ababa, Ethiopia Wednesday for the 22nd World Economic Forum on Africa alongside seven other African Heads of States. More than 700 leaders from business, government, civil society, academia, media and the arts...

    • Posted May 10, 2012
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  • HSBC Sells Largest Structured Note Linked to Nigerian Debt

    HSBC Holdings Plc (HSBA) sold two structured notes tied to Nigerian government debt, including the largest credit-linked note referencing Africa’s most populous nation since at least 1999. The two 10-month securities, one for $33.5 million and the other for...

    • Posted May 9, 2012
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  • Conoco CEO confirms sale of Nigeria assets

    Ryan Lance, the new chief executive officer of ConocoPhillips, on Wednesday confirmed that the U.S. exploration and production company plans to sell its Nigerian assets, but said a deal was not imminent. “We’re testing the market on...

    • Posted May 9, 2012
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  • Dangote Cement Sets N 64 Billion Revenue in Q1, 2012 Earnings, Sees No Need For Cement Imports

    Dangote Cement, Nigeria’s largest manufacturer just released its Q1, 2012 earnings. The company reported revenue of N 64 billion, up 17.6% from the N54.5 billion it made over the same period last year. Earnings before Interest and...

    • Posted May 9, 2012
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  • Guinness Appoints Yvonne Ike Non-Executive Director

    The Board of Directors of Guinness Nigeria at its meeting of Thursday, 26 April 2012 accepted the resignation of Mrs. Ifeoma Mafeni from the Board of Directors of the Company with effect from 13 April   2012. Until...

    • Posted May 9, 2012
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  • Jonathan Awards Oil Blocks Secretly to Unknown Parties

    According to a report from the Vanguard, the Federal Government has awarded oil blocks in a manner that flouts the Extractive Industry Transparency Initiative (EITI) of which Nigeria is signatory. Government recently awarded Otakikpo field in Oil Mining...

    • Posted May 9, 2012
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  • EU Calls on Federal Government to Backtrack on Planned Ban of Cement Imports

    The head of the European Union delegation to Nigeria, Ambassador David McRae has called upon the Federal Government to reconsider its plans to ban the importation of cement to Nigeria. The diplomat said the move could cause...

    • Posted May 9, 2012
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  • Jonathan’s Chief Economic Adviser Delusional on Power Situation in Nigeria

    The Chief Economic Adviser to the President, Prof. Nwanze Okedigbe, has claimed that the power generation in the country now stands at 4,400 Megawatts. This is in spite of the fact that many Nigerians are still wallowing...

    • Posted May 9, 2012
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  • FG Awards Gold Mining Licenses to 7 Firms

    The Federal Government has awarded gold mining licenses to seven firms. The Minister of Mines and Steel Development, Mr. Musa Sada, revealed the identities of the firm as Retel, Savannah Gold, CGC Nigeria Ltd, Erin Mineral Resources,...

    • Posted May 9, 2012
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  • CBN Boss, Oteh Accused of Lying to House Committee by Former Afribank MD

    The former Group Managing Director of the defunct Afribank, Sebastian Adigwe has accused the Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu and Ms. Arunma Oteh of spreading falsehood concerning the activities of Afribank during...

    • Posted May 9, 2012
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