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  • Arnold Ekpe to step down as Ecobank Group CEO after 2012

    Ecobank has announced that Arnold Ekpe, its Group Chief Executive Officer will be retiring at the end of 2012. Mr. Ekpe will be replaced by Thierry Tanoh, the CEO designate. Mr. Tanoh is currently the vice-president in...

    • Posted December 23, 2011
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  • Retain subsidy and perish, Foreign reserves depleted – Sanusi

    From Governor of Central Bank of Nigeria (CBN) Sanusi Lamido Sanusi, came a warning yesterday that Nigeria is heading for serious economic crisis. His warning followed his disclosure that the country lost $16 billion to subsidies this...

    • Posted December 23, 2011
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  • President Jonathan Commissions BoI’s Office, Orders Recapitalisation

    The Federal Government has ordered the recapitalisation of Bank of Industry (BOI) and directed that its equity be opened up to attract investors. This is to ensure adequate funding for the nation’s industrial sector. President Goodluck Jonathan, who...

    • Posted December 23, 2011
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  • Stock Market Watch: The Bulls are back at it

    The upwards trajectory of the market continued today to the delight of investors and capital market analysts. The All Share Index increased by 90 points to close at 20,604.48. Nigerian Breweries set an outstanding pace as the...

    • Posted December 22, 2011
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  • Nigerians Spend Over $2 Billion Annually On Foreign Degrees

    In a bid to improve the quality of Nigeria’s universities and ensure that more secondary school graduates opt to attend local rather than foreign institutions, the government has unveiled plans to increase the number of campuses and...

    • Posted December 22, 2011
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  • Senate summons Shell over Coastal Crude oil spill

    The Senate on Thursday summoned the Managing Director, Shell Nigeria Exploration and Production Company (SNEPCo) over a major oil spill at its Bonga deepwater facility off the Nigerian coast. Also invited over the massive spill are the leadership...

    • Posted December 22, 2011
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  • Fuel Subsidy: President Jonathan cannot be trusted – Labour Union

    Labour unions have told President Jonathan that they could not trust him to implement the projects envisaged to be financed with fuel subsidy removal funds because he failed to honour previous commitments. They also said the N1...

    • Posted December 22, 2011
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  • FIRS Arrests FCDA Boss Over N28.2bn Unremitted Taxes

    The Federal Inland Revenue Service yesterday arrested the Executive Secretary (ES) of the Federal Capital Development Authority, Engr Adamu Ismaila over N28.2billion unremitted taxes. Adamu was picked up in his office at about 12:03pm by an enforcement...

    • Posted December 22, 2011
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  • IMF chief warns Africa to prepare for Europe fallout

    Many countries in sub-Saharan African are less prepared to deal with an economic shock now than they were during the 2008 food and fuel crisis and the global financial turmoil that followed, IMF chief Christine Lagarde said...

    • Posted December 22, 2011
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  • NCAA Summons Oil Marketers Over Supply of Adulterated Kerosene to Airlines

    The Nigerian Civil Aviation Authority (NCAA) yesterday  summoned oil marketers to a meeting  over alleged supply of adulterated kerosene to airlines instead of the approved Aviation Fuel otherwise called Jet-A1. This stemmed from allegations levelled against one of the...

    • Posted December 22, 2011
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  • Islamic Banking: Sanusi was too emotional – Olu Falae

    Former Minister of Finance, Chief Olu Falae, has faulted Central Bank of Nigeria, CBN, Governor Malam Lamido Sanusi, over islamic banking, arguing that he (Sanusi) was too emotional about the issue which is unexpected of a public...

    • Posted December 22, 2011
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  • Stock Market Watch: ASI Closes on the Up and Up

    The market put on an impressive performance today closing all the way in the green. The All Share Index was up a respectable 148 points to close at 20,420.23. The banking sector was all bull and no...

    • Posted December 21, 2011
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  • Regulators order Facebook to overhaul European Network on Data Privacy Concerns

    Facebook Inc. must overhaul its network in Europe over the next six months as a result of an investigation into how the social network handles personal data. Facebook has to make “a wide range of best practice improvements” to...

    • Posted December 21, 2011
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  • Rivers State Governor Amaechi presents N427b 2012 budget

    Rivers State governor, Rotimi Amaechi has presented a budget of N427 billion to the state House of Assembly for the 2012 fiscal year. Presenting the budget on the floor of the House in Port Harcourt, Amaechi noted...

    • Posted December 21, 2011
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