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  • Nigeria Stock Exchange Watch: The Bull Grazes in the Green

    The Nigerian Stock Market closed in bulls’ territory on the last trading day of the week. Friday saw the All Share Index pick up +0.48% to close at 20,411.17. Fueled by low valuations and dividend yield speculative...

    • Posted February 18, 2012
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  • Student jailed for “extensive” Facebook hack

    A student, who hacked into Facebook’s internal network risking “disastrous” consequences for the website, was jailed for eight months on Friday in what prosecutors described as the most serious case of its kind they had seen. Glenn...

    • Posted February 18, 2012
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  • ASUU Strike: End of the dark ages?

    Another ASUU strike has ended and the students are excited as they resume from another forced holiday. I remember when I was in University we used to joke that apart from the regular holidays scheduled by the...

    • Posted February 18, 2012
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  • Nigeria Loses $5m Daily in Crude Oil Lifting

    Not less than $5 million that should have accrued into the central till is being lost daily as a result of the faulty trade policy in the lifting of Nigerian crude oil, THISDAY has learnt.   Similarly,...

    • Posted February 17, 2012
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  • Central Bank to Auction N149 billion in T-Bills, DMO to sell N 70 billion Bonds

    Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has disclosed its readiness to auction N149.65 billion worth of treasury bills at its bi-monthly debt auction next week. N49.65bn in 91-day paper and N50bn each in 182-day...

    • Posted February 17, 2012
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  • Banking reform: More workers to lose jobs

    As the Deposit Money Banks in the country continue to embrace cost-cutting measures, indications have emerged that another round of mass sacking is imminent in the banking industry. Our correspondent gathered from reliable sources in the banking...

    • Posted February 17, 2012
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  • Over 3,000 Chinese Workers, Many Illegal Aliens, Employed by Dangote- ASBAN

    The Association of Building Artisans of Nigeria (ASBAN) has released startling and grievous allegations against the elite Nigerian manufacturing industry and their insensitivity to the plight of the employment status of thousands of Nigerian graduates. The allegations...

    • Posted February 17, 2012
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  • 30,000 Hectare Rice Farm Underway in Taraba Courtesy of FG

    The Federal Government in conjunction with the Taraba State government has unveiled concrete plans to establish a 30,000 hectare rice farm in Taraba, capable of producing 300,000 tonnes of Rice per annum. This development will lead to...

    • Posted February 17, 2012
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  • Flour Mills raises 35 bln naira in rights issue

    Flour Mills of Nigeria said on Thursday it successfully raised 34.97 billion naira ($220.80 million) in a rights issue of shares. Shares in Flour Mills closed down 2.73 percent at 57.54 naira per share. The rights issue...

    • Posted February 17, 2012
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  • Finance Minister takes Nigeria on European Roadshow, Says FG Committed to Removing Subsidies

    The Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo Iweala, began a two-day, non-deal roadshow to update European investors on the political and economic outlook of Nigeria. International investors, especially those with stake...

    • Posted February 17, 2012
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  • Nigeria’s Cocoa Output Threatened by Shortage of Insecticide

    Cocoa production from Nigeria, the fourth-biggest producer, is threatened by the shortage of an insecticide to fight mirids, the country’s cocoa association said. Wet weather has brought on an onslaught of mirids, insects that attack cocoa leaves, Robo...

    • Posted February 17, 2012
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  • Nigerian Stock Exchange Watch: Market Falls, YTD Losses over 2%

    The Nigerian bourse shed marginally today as the All Share Index fell by 0.08% to close at 20,314.08. The banking sector was well firmed today as most counters spiraled northwards, however other blue chip stocks such as...

    • Posted February 16, 2012
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  • Committee targets 40% female bank headship by 2014

    In a bid to empower more women in the financial sector, the Bankers’ Committee has set a target of 40 per cent female leadership in banks by 2014. The Governor, Central Bank of Nigeria, Mr. Lamido Sanusi,...

    • Posted February 16, 2012
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  • EFCC to Introduce Lie Detector Tests to Oust Corrupt Officials

    The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde has unveiled sweeping new reforms in order to sanitize the apex anti-corruption body in the country including the application of Polygraph or Lie detector tests....

    • Posted February 16, 2012
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