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  • EFCC Files Fresh Charges Against Elumelu, others Involved in N 5.2 billion REA Scam

    The Economic and Financial Crimes Commission (EFCC) has appealed the Federal High Court ruling issued on March, 24, 2012 that cleared several lawmakers of corruption and criminal breach of trust concerning the N 5.2 billion Rural Electrification...

    • Posted April 13, 2012
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  • Nigerian Stock Exchange Watch: Transcorp Trade Boosts Market Volume by 366%

    The Stock market dipped today, shedding 35 points and bringing the ASI to settle at 20,742.10. Losses were sustained by selling pressure on several bluechips including Dangote Cement, Guinness, Dangote Flour and Mobil. The banking sub-sector saw...

    • Posted April 12, 2012
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  • Portland Paints Revenue Hits N 2.5 billion, Proposes 20 kobo Dividend in 2011 Earnings

    Portland Paints a major distributor of building materials in the country has released its 2011 audited financial statements. The company reported an 8.6% growth in revenue at N 2.5 billion from N 2.38 billion in 2010. Profit...

    • Posted April 12, 2012
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  • ‘Nigeria will not be Shortchanged’ by British Airlines – Harold Demuren

    The Director General of the Nigerian Civil aviation Autority (NCAA), Dr. Harold Demuren has said that the Federal Government will not relent in its efforts to ensure that foreign carriers, particularly Britis airways and Virgin Atlantic stop...

    • Posted April 12, 2012
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  • GTBank Moves against Arisekola Alao over N6.9 billion Debt

    Guaranty Trust Bank Plc (GTBank) has asked Justice Okechukwu Okeke of the Federal High Court in Lagos to enter judgment against renowned businessman, Alhaji Abdul Azeez Arisekola-Alao following his alleged failure to file his statement of defence...

    • Posted April 12, 2012
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  • NCAA Develops Passenger Bill of Rights to check Erring Airlines

    The Nigerian Civil Aviation Authority (NCAA) has developed a passenger bill of rights in order to penalize local and international airlines for cancelled flights, flight delays, lost baggage amongst other offences towards passengers. The rules entitled, “Passengers’...

    • Posted April 12, 2012
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  • Total Appoints First Nigerian Woman to its Executive Management Team

    Total E&P Nigeria has announced the appointment of its first indigenous female Executive Director, Mrs. Edith Ofili-Okonkwo. A statement by the firm said Ofili-Okonkwo was appointed Executive Director, Human Resources and Corporate Affairs. She was also appointed...

    • Posted April 12, 2012
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  • Visafone Eyes N600 Billion Broadband Market

    The Chairman of Visafone, Jim Ovia, has revealed that the voice and data communications company is positioning itself in order to take advantage of the immense opportunities in the Nigerian telecommunications sector. In order to achieve this,...

    • Posted April 12, 2012
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  • Nigeria’s first Wind Farm Goes Onstream in Katsina

    The Katsina State Government will soon launch Nigeria’s pioneer Wind Farm. The Wind farm located in Katsina is funded by the Japanese International Cooperation Agency and has a capacity of 10 Megawatts. Minister of State for Power,...

    • Posted April 12, 2012
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  • Nigerian Stock Exchange Watch: Losses Extend Further, GTAssure on Bullish Run

    The market declined further into negative territory on the back of a bearish banking sub sector. The All Share Index declined by 0.15%. The market capitalization inched upwards due to the listing of additional Union Bank Shares....

    • Posted April 11, 2012
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  • UTC Nigeria Plc Books N 1.4 billion Profit in 2011 Earnings

    UTC Nigeria Plc a leading processor and marketer of baked goods and meats has released its 2011 audited financial statements. The company’s revenues took a slight hit, dropping 0.9% from N 2.82 billion in 2010 to N...

    • Posted April 11, 2012
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  • Seven states adopt Songhai integrated farm model in Nigeria

    SEVEN of the 36 states in Nigeria have concluded partnership agreement with the Songhai farm in Porto-Novo in neighbouring Benin Republic to set up integrated farm system in their states. Revd. Godfrey Izamojo, the Director of Songhai Regional Operations...

    • Posted April 11, 2012
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  • Iweala Lands New Gig with United Nations

    Ngozi Okonjo Iweala is amongst 27 international leaders appointed by the UN secretary general, Ban Ki-moon to help improve maternal and child nutrition. Other eminent members of the group include  Armando Emílio Guebuza, President of Mozambique; Jakaya...

    • Posted April 11, 2012
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  • Delta to spend N7.4b on Asaba Airport in just 10 Days

    The Delta State government on Tuesday said it has approved the contract for the demolition of hills surrounding the Asaba Airport to allow for bigger aircrafts to land. Commissioner for Economic Planning, Kenneth Okpara, who briefed journalists...

    • Posted April 11, 2012
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