Latest News

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  FCMB records N9.9bn Net Loss, Proposes Bonus Issue

  First City Monument Bank Plc has announced a net loss of N9.9bn for the full year ended December 31, 2011. The bank’s profit after tax, which stood at N7.9bn in December 2010, fell by 225 per cent...

  • Posted March 20, 2012
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  Federal, state and local governments share N621 billion for February

  The Federal, state and the local government areas in Nigeria will share the sum of N621 billion for the month of February, 2012. This was disclosed by the Minister of state for finance, Yerima Ngama after the...

  • Posted March 20, 2012
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  Inflation Drops to 11.9% in February, Food Inflation Rises

  Information recently released by the National Bureau of Statistics (NBS) indicate that inflation fell in the month of February. The Consumer Price Index (CPI) was recorded at 11.9% as against 12.6% recorded in January. The partial removal...

  • Posted March 20, 2012
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  Nigeria Internet Group to Grant N 1,000,000 for Young Entrepreneurs in I4J Competition

  The Nigeria Internet Group has declared open the “Internet for Jobs” initiative designed to explore the potential of the Internet to create jobs for the people. It is also aimed at transforming the country into a knowledge...

  • Posted March 20, 2012
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  Dangote Cement to Begin Operations in Liberia, Makes Initial $35 Million Investment

  Dangote Cement is to begin operating a subsidiary in Liberia within the next six weeks. The subsidiary named Dangote Cement Liberia will receive a capital injection of $35 million from the parent company in Nigeria. These details...

  • Posted March 20, 2012
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  Porsche targets rich Nigerians’ love for luxury

  Nigeria’s super rich are no strangers to conspicuous consumption, and there’s no better way to flaunt your wealth than by buying a brand new European sports car. German carmaker Porsche officially opened a new car dealership on...

  • Posted March 20, 2012
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  Arunma Oteh Calls House of Rep Committee’s Allegations “Frivolous” – Full Press Statement Inside

  Arunma Oteh and the Securities and Exchange Commission (SEC) have released a press statement in order to clear the air concerning the allegations of incompetence and graft levelled against her by the House Committee on Capital Markets....

  • Posted March 20, 2012
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  Europe Commits N20 billion to Fight Corruption, Drug Trafficking in Nigeria

  The European Union (EU) has provided Nigeria with €98 million worth of funding commitments to help tackle corruption, drug trafficking and to boost the judicial system. The agreement was signed on Monday by the Minister of National...

  • Posted March 20, 2012
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  Fed Govt Orders Review Of Double Taxation

  The Federal Government has ordered the Federal Inland Revenue Service (FIRS) to review Nigeria’s double taxation law regime. This is aimed at ensuring that tax treaties entered into would provide the maximum value for the country. The Co-ordinating...

  • Posted March 20, 2012
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  Lagos-Ibadan railway to cost $1.5b – Idris Umar

  The Minister of Transport, Senator Idris Umar, yesterday said about $1.5billion is required for the modernisation of the Lagos-Ibadan Railway Line. He also said the Federal Government will review the Railway Act of 1955, which is about...

  • Posted March 20, 2012
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  Nigerian Stock Exchange Watch: ASI Gains 1.13% as Bulls outperform Bears

  The Stock Market gained 113 points today due to an overwhelming outing of bullish performers successfully overcoming initial bearish sentiment. Dangote cement was up 285 points. Other blue chips trading in the green today included UAC (+5%)...

  • Posted March 19, 2012
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  Carlyle Group launches new Private Equity fund for Africa, Aims for $500 Million

  About a year after it launched an investment team for sub-Saharan Africa, US-based private equity firm, The Carlyle Group, is raising a new fund focused on the region.  The Carlyle sub-Saharan Africa Fund comes hot on the...

  • Posted March 19, 2012
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  KAINJI HYDRO STATION BACK ON NATIONAL GRID

  The Kainji Hydro Power Station is back on stream and delivering power to the national grid from its four available units that were shut down three days ago, Minister of Power, Prof. Bart Nnaji, announced this morning....

  • Posted March 19, 2012
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  OTEHGATE: Shocking Example Of Government Corruption

  Like many other Nigerians, I was partly distressed and partly overjoyed when I watched the exchange of words between the SEC boss, Aruma Oteh and Herman Hembe, Chairman for the House Committee on Capital Markets. Honourable Hembe...

  • Posted March 19, 2012
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