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  • 61% of Nigerians are Living in Poverty – National Bureau of Statistics

    According to a report released today by the National Bureau of Statistics, 61% of Nigerians are living in poverty. The report entitled “Nigeria Poverty Profile Report 2010” was crafted from a Harmonised Nigeria Living Standard Survey (HNLSS) and supported...

    • Posted February 13, 2012
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  • GE not constructing power plants in Nigeria – Power Ministry

    According to a statement from the Ministry of Power, General Electric will not be constructing power generation plants in the country. The Minister’s office released a statement in order to clarify misleading media reports that stated GE...

    • Posted February 13, 2012
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  • CBN Inaugurates New Committee to Tackle Electronic Money Fraud

    In order to mitigate the flow of electronic fraud forecasted to follow the introduction of Cashless Nigeria, the Central Bank of Nigeria (CBN) has inaugurated a new committee baptized the Automated Teller Machine Fraud Prevention Committee. The...

    • Posted February 13, 2012
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  • Greece’s parliament passes new austerity deal amid riots

    Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after riots in Athens and other cities left stores looted and burned and more than 120 people...

    • Posted February 13, 2012
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  • Law Union & Rock Insurance Acquired by Consortium

    One of the blue-chip insurance companies operating in the country, Law Union & Rock Insurance Plc has been acquired by a consortium comprising of Alternative Capital Partners (ACAP) and Swede Control Intertek Limited. The consortium purchased Skye...

    • Posted February 13, 2012
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  • FCMB finalizes FinBank Acquisition

    First City Monument Bank has finally completed its acquisition of Finbank, months after shareholders approved the deal. Shareholders had given their approval for Finbank to be acquired as far back as September 2011, however the Securities and...

    • Posted February 13, 2012
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  • Nigerian Stock Exchange Drafts Morgan Stanley for Investor Education Clinic

    The Nigerian Stock Exchange (NSE) has drafted major American financial services institution, Morgan Stanley to collaborate with it on an Investor’s Clinic. In a bid to restore market confidence and drive investor’s back to the market, Mr....

    • Posted February 13, 2012
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  • Apple Sues Samsung

    Apple Inc.’s newest lawsuit against Samsung Electronics Co., set for a hearing May 2, increases the number of Samsung devices that Apple argues infringe its products. Apple seeks a court order blocking the alleged infringement in smartphones...

    • Posted February 13, 2012
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  • 10 Dumb Moves That Should Have Cost Mark Zuckerberg His $25 Billion Fortune

    NOT *THAT* DUMB: One time Zuckerberg stopped at the wrong gas station What happened: A man attempted to rob Zuckerberg at gun point at a gas station. Zuckerberg jumped in his SUV and drove away without a...

    • Posted February 11, 2012
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  • Are You Sabotaging Your Own Career?

    Several of us were talking this morning about the frustrations of waiting for someone to do their job. I see it time and time again yet still find it surprising that some people just don’t realize how...

    • Posted February 11, 2012
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  • Nigeria Stock Exchange: Market Spirals Downwards Entire Week

    The Nigerian Stock Exchange continued to sustain losses yesterday as the All Share Index dipped by 0.04% to settle at 20,623.63. The Banking sub-sector closed up marginally by 0.03% due to the positive uptick in top tiers...

    • Posted February 11, 2012
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  • Guinness Posts Less than Impressive H1, 2012 Earnings

    Guinness Nigeria Plc has released its 1H, 2012 results representing the period from June 2011 to December 2011. The company posted a marginal growth in sales as it recorded a turnover of N 62.8 billion as opposed...

    • Posted February 10, 2012
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  • N’Assembly accepts FG’s proposal to cut 2012 budget

    The National Assembly has accepted the Federal Government’s proposal to reduce the size of the 2012 Budget. It has however, directed the agencies and ministries to immediately submit the details of subheads from which they would cut...

    • Posted February 10, 2012
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  • President May Revoke Lagos-Ibadan Expressway Concession Agreement with Bi-Courtney

    In what appears to be a response to pressure from the Ogun State Governor, Ibikunle Amosun, the President has indicated that he may revoke the road concession agreement granted to Wale Babalakin’s Bi-Courtney. Speaking at the commissioning...

    • Posted February 10, 2012
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