Latest News

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  City Trader Who Spent £200,000 on Champagne Arrested by FSA

  In March, 23-year-old UK Foreign Exchange trader Alex Hope made headlines for reportedly spending more than $320,000 on champagne at a Liverpool night club. Exactly one month later, he’s back in the news. But this time, instead of...

  • Posted April 4, 2012
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  UBA breaks silence on N 3 billion Police Pension Account

  Following a series of media reports implicating UBA officials in the Police Pension fraud investigation, the management of UBA has released a press release in order to set the record straight concerning the allegations. Notably, the account...

  • Posted April 4, 2012
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  NNPC Revives 3 Refineries, Fuel Scarcity ‘Will be History’ – NNPC GED

  The Group Executive Director (GED), Refining and Petrochemical, Nigerian National Petroleum Corporation (NNPC), Mr Philip Chukwu, in Kaduna, on Tuesday, said with the coming on stream of the three major refineries in Warri, Port Harcourt and Kaduna,...

  • Posted April 4, 2012
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  VALUCARD transforms, now UNIFIED PAYMENTS

  ValuCard Nigeria Limited, the foremost payment industry solutions provider becomes Unified Payment Services Limited. Bisi Onasanya, Chairman, Board of Directors, Unified Payments®, in a statement during the formal launch of the new identity in Lagos Monday, said...

  • Posted April 4, 2012
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  NCAA to issue regulation on Air passengers’ Bill of Rights

  Many Nigerian air carriers such as Aero are notorious for arbitrarily cancelling passenger’s flights without adequate notification or provision of alternatives for such passengers. Respite may be coming soon as the Nigerian Civil Aviation Authority (NCAA) is...

  • Posted April 4, 2012
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  Why Jonathan has not signed 2012 budget –Okonjo-Iweala

  The Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Tuesday said President Goodluck Jonathan had not signed into law the 2012 budget, which was recently passed by the National Assembly, because of the need for the Executive to...

  • Posted April 4, 2012
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  Canada’s Manitoba Hydro Requests $ 23.7 Million to Manage Transmission Company of Nigeria

  Manitoba Hydro, the Canadian power engineering firm, that won the bid to manage the Transmission Company of Nigeria (TCN), one of the PHCN successor companies, has asked the Federal Government to pay it $23.7 million in order...

  • Posted April 4, 2012
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  Diamond Bank seeks merger talks, to raise bonds

  Diamond Bank said on Tuesday it will ask shareholders for their approval to enter into merger talks with other banks and also plans to raise $200 million in bond issues. The mid-tier lender has been trying to...

  • Posted April 4, 2012
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  Nigeria Stock Exchange Watch: Market Halts Losses, Okomu (+10%) leads QTD Performance

  Okomu Palm is up 10% this week, and is the best performing stock this quarter on the back of a further 5% uptick today after recording same in yesterday’s trading. The market gained 0.96% as the All...

  • Posted April 3, 2012
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  2011 Earnings: GT Assurance Grows Net Income 44%, Proposes 8 kobo Dividend

  GT Assurance has released its FYE 2011 audited financial statements. The company reported a 33% increase in Gross Premium Written at N 10 billion, up from N 7.5 billion at FYE 2010. GTAssure also reported a 34.5%...

  • Posted April 3, 2012
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  Confusion Trails Commencement of Cashless Policy in Lagos

  Full commencement of cashless policy in Lagos State started yesterday with most Automated Teller Machines (ATMs) out of service while some customers could not withdraw money on third party basis. The Central Bank of Nigeria (CBN) had...

  • Posted April 3, 2012
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  Nigeria urged to join fight to eliminate illiteracy

  World Literacy Foundation Chief executive Officer Mr Andrew Kay today called on Nigeria’s Government and education and community leaders to place a higher priority on reducing high illiteracy rates in Nigeria. Speaking at the World Literacy Summit...

  • Posted April 3, 2012
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  Mobil Earnings 2011: Net Income Down Marginally, Proposes N5 Dividend and Bonus Issue

  Mobil Nigeria has released its financial year end 2011 audited financial statements. The company reported a 6.4% increase in Revenue at N 62 billion from N 58 billion in 2010. The company, however, reported an increase of...

  • Posted April 3, 2012
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  UAC Nigeria 2011 Earnings Impressive, Net Income at N 10 billion, Proposes N 1.50 Dividend

  UAC Nigeria, one of the country’s leading conglomerates, and consumer goods manufacturers has released its Financial Year End 2011 audited financial statements. The company reported a 21% increase in headline Revenues at N 63.5 billion from N...

  • Posted April 3, 2012
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