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  • Spotlight on Africa

    Her $3 billion fortune makes Oprah Winfrey the wealthiest black person in America, a position she has held for years. But she is no longer the richest black person in the world. That honour now goes to...

    • Posted December 4, 2011
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  • How Your Mobile Phone Is Spying On You

    If you’ve set up a new mobile phone recently, you were likely prompted with an innocent-sounding request for your “usage information.” The phone probably assured you that it would collect your data “anonymously,” and that it would...

    • Posted December 4, 2011
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  • Singaporean Firm, Olam International, to Inject FDI of N 7.8 Billion for Rice Production

    Olam International Limited (“Olam” or “the Company”), a leading global, integrated supply chain manager and processor of agricultural products and food ingredients, today announced  that it would invest N 7.8 Billion (US$ 49.2 million) to set up...

    • Posted December 3, 2011
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  • Oil Subsidy Beneficiaries List, A Who is Who of Power Brokers in Nigerian Government

    This week, the Senate Joint Committee on Petroleum Resources (Downstream) released a list of the beneficiaries of the Oil Subsidy in the country. Prominent Nigerians, recipients of National awards and cabinet members featured on the list. Notably...

    • Posted December 3, 2011
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  • UBA’s Capital Restructuring Exercise Schedule Released

    Details pertinent to the schedule of the UBA capital restructuring exercise have surfaced. Shareholders should note that the shares of UBA will be placed ontechnical suspension on January 12, 2012. The new holding company will be listed...

    • Posted December 3, 2011
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  • Life Expectancy, Lagos State Leading The Way

    We suffer a low life expectancy rate. Chances are that a billion things are just in place to stop citizens from reaching the biblical 70 years. Now people just die in their golden age.  Our history of...

    • Posted December 2, 2011
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  • NDIC, And The Imbalance In Nigeria’s Financial System

    Recent findings coming from Nigeria Deposit Insurance Corporation (NDIC) has unearthed the imbalance in Nigeria’s financial system. It was revealed that 2, 512, 531 depositors, or six  per cent of those who placed their money in the...

    • Posted December 2, 2011
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  • Electronic Payment of Goverment Salaries to Start in January 2012 -CBN

    The Central Bank of Nigeria has said it had  concluded plans to implement the electronic payment of government supplies, all forms of taxes, salaries and pensions by January 2, 2012. Speaking  at a one-day Public Sector Stakeholders...

    • Posted December 2, 2011
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  • First Hydrocarbon Nigeria buys 45 percent stake in OML 26

    First Hydrocarbon Nigeria (FHN), which is partly owned by oil company Afren, confirmed on Thursday the purchase of a 45 percent stake in Nigerian oil block OML 26 for $147.5 million from Shell, Total and Eni. FHN,...

    • Posted December 2, 2011
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  • Sanusi Didn’t Buy N1 Billion Home in Abuja – CBN

    Central Bank of Nigeria (CBN) has said that its governor Malam Sanusi Lamido Sanusi, didn’t buy a billion naira property in Abuja as speculated in the media. This was disclosed in a press statement signed by the...

    • Posted December 2, 2011
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  • House of Representatives Passes Fiscal Plan, No Subsidy Removal

    Nigeria’s House of Representatives on Thursday approved the government’s medium-term fiscal framework (MTFF) but refused to include plans to remove fuel import subsidies in a major setback for the controversial proposal. Ngozi Okonjo-Iweala, the finance minister and coordinator of...

    • Posted December 2, 2011
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  • Dangote Cement Signs Contract to Expand Ibese Plant

    Dangote Cement Plc , Nigeria’s biggest company by market value, signed a contract to expand its Ibese plant, Chief Operating Officer Joseph Makoju said. The expansion will double output at the 6 million-metric ton plant in southwestern Nigeria,...

    • Posted December 2, 2011
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  • Ahmadu Bello University to Create the Most Sophisticated Campus Network in Nigeria

    Cisco announced  that MEED Networks in Nigeria is to deploy a Cisco Borderless Network architecture at Ahmadu Bello University (ABU), the largest university in Nigeria and second largest in Africa, second only to Cairo University in Egypt. ABU is...

    • Posted December 2, 2011
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  • Stock Market Watch: ASI Closes Beneath 20,000 Threshold

    The Nigerian Stock Exchange buckled in daily trading following sell side pressure as the yuletide period closes in. The All Share Index shed 18 points closing below the 20,000 threshold at 19,967.84. Investors are making cash calls...

    • Posted December 1, 2011
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