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  • Lawmakers move to Place Ceiling on Government Borrowing

    Lawmakers in Abuja, concerned with the country’s skyrocketing debt profile have sought to ensure the introduction of legislation that controls the borrowing of the executive. The National Debt currently stands at N 6.5 trillion or $ 40...

    • Posted March 28, 2012
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  • Electricity Bills: Government reads Riot Act to PHCN Successor Companies on “Crazy Billing”

    In a move certain to appease electricity consumers across the country, the Nigerian Electricity Regulatory Commission (NERC) has blamed PHCN successor company officials of over-billing customers on electricity usage by deliberately frustrating proper meter usage. The age-long...

    • Posted March 28, 2012
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  • ‘KPMG Report Fake’ – Maina’s Pension Reform Task Force

    A spokesperson for the Pension Reform Task Team that uncovered N 151 billion in pension money has said the allegations accusing the team of wasting N 180 million on an offshore pension registration exercise are unwarranted and...

    • Posted March 28, 2012
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  • Nigerians Spend N 1 billion Every Day on Imported Rice – Agric Minister

    The Minister of Agriculture, Mr. Akinwunmi Adesina has disclosed that Nigerians spend an average of N 1 billion daily on imported rice. Buttressing further the government technocrat also stated that  the country spends N 1.3 trillion annually...

    • Posted March 27, 2012
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  • Dokpesi to pay N7.5bn debt to Fidelity Bank

    A Federal High court in Lagos has ordered Chief Raymond Dokpesi and his Daar Communication Plc, to pay the sum of N7.5bn debt to Fidelity Bank Plc. Justice Mohammed Idris, in his judgment on Monday, ordered that...

    • Posted March 27, 2012
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  • Ex-Government Official, Shuaibu Suffers Asset Forfeiture over N 4.56 Billion Pension Scam

    Dr. Sani Teidi Shuaibu, former Director, Pension Administration in the Office of the Head of the Civil Service of the Federation has been relieved of choice commercial and residential property in Kogi and Abuja and other environs...

    • Posted March 27, 2012
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  • Amosun Opens Up Ogun State for Investment: 80% Off Land for Agriculture, other Incentives

    The Ogun state governor, Ibikunle Amosun, seems positioned to upstage his colleagues and perhaps even the Federal Government with the kind of policies he is formulating in Abeokuta. At the inaugural edition of the Ogun State Investor’s...

    • Posted March 27, 2012
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  • Hembe Collected Money from SEC for Phantom Trip

    The Economic and Financial Crimes Commission (EFCC) have obtained confessions from former Chairman of the House Committee on Capital Market and Other Institutions Herman Hembe and his erstwhile deputy, Chris Azubogu. The lawmakers have revealed that whilst they...

    • Posted March 27, 2012
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  • Nigeria gives BA, Virgin Atlantic ultimatum on fares

    Nigeria has given airlines British Airways (BA) and Virgin Atlantic 30 days to lower fares or face a ban from flying to the West African nation, its aviation minister said on Monday. Britain responded by saying it...

    • Posted March 27, 2012
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  • Nigeria Appoints Manitoba of Canda as Network Operator for Power Utility

    Nigeria’s National Council on Privatization approved Manitoba Hydro Electric Board of Canada as the network operator for the state-owned power utility, Transmission Co. of Nigeria, the presidency said. Manitoba Hydro and Power Grid Corporation of India Ltd. on...

    • Posted March 27, 2012
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  • ‘Aggravated Pimping’ Probe for Strauss-Kahn

    French magistrates charged Dominique Strauss-Kahn with “aggravated pimping,” placing the former International Monetary Fund chief under preliminary investigation for his alleged involvement in a French prostitution ring, prosecutors said. The magistrates on Monday ordered Mr. Strauss-Kahn to...

    • Posted March 27, 2012
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  • Nigerian Stock Exchange Watch: Activity Levels Tank as Market Drops 0.9%

    Negative sentiment dominated the market today as the All Share Index fell 90 points to close at 21,000.15. Selling pressure drove the prices of majority of the banking counters down as only two regional banks, Wema (+0.02%)...

    • Posted March 26, 2012
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  • WORKSHOP ON CORRUPTION: NESG Restates Commitment to Ethical Business Practices

    The NESG in conjunction with the United Nations Global Compact and the Siemens Integrity Initiative today in Abuja held a National Stakeholders Workshop on corruption at the Transcorp Hilton hotel. The workshop tagged “Openness & Transparency: A...

    • Posted March 26, 2012
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  • Light rail: Fashola woos British, other investors

    As work progresses on the first phase of the 61-kilometre Lagos-Badagry Light Rail Project christened the Blue Line, Lagos State Governor, Mr. Babatunde Fashola has wooed British and other investors for the concession of the second part...

    • Posted March 26, 2012
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