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All posts tagged "featured"

  • NIGERIA LOSES $37 BILLION IN OIL REVENUE

      A report by the Presidential Committee and Task force on Oil and Subsidy submitted to President Goodluck Jonathan reveals that Africa’s biggest producer of Oil has lost about $37 billion of revenue in the petroleum sector over the...

    • Posted November 2, 2012
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  • NNPC, DPR, Shell others embezzled N2.8 trillion – Ribadu report

    The report of Nuhu Ribadu-led Petroleum Revenues Task Force has shown that government agencies and major oil companies will be asked to refund about $17.8 billion to the Federation account. President Goodluck Jonathan on Monday asked the...

    • Posted November 1, 2012
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  • Stanbic IBTC Reports 3Q Earnings, Declares Net Income of N6.9 billion

    Stanbic IBTC reported its 3Q earnings to the Nigerian Stock Exchange yesterday. The company said its gross earnings were up 35% to N64 billion, from N47.4 billion over the same period last year. Interest income was up...

    • Posted November 1, 2012
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  • Nestle’s Nine Month Income Up 63% to N15.4 billion

    Nestle, makers of popular beverage Milo, transmitted its 3Q earnings to the Nigerian Stock Exchange yesterday. Revenue was reported at N85 billion, up 21% from N70.5 billion made over 3Q, 2011. Profit before tax was up 41%...

    • Posted November 1, 2012
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  • PHCN Workers Move To Disrupt Electricity Supply in the Country

    The union leaders of Power Holdings Company of Nigeria (PHCN) have begun to assemble its workers to disturb efforts by investors who want to take over the company.   This development was revealed by the President of...

    • Posted November 1, 2012
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  • Subsidy fraud: Jonathan Turns his Back on Desperate Marketers

    The perpetrators of the fuel subsidy fraud may be heading towards their waterloo as sources have confirmed that the president has refused to give audience to the distressed marketers who made efforts to get the Presidency to...

    • Posted November 1, 2012
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  • Capital Oil Denies Involvement in subsidy fraud, Accuses Access Bank CEO of Hidden Interests

    The management of Capital Oil and Gas Industries Limited has denied any involvement in the fraudulent collection of subsidy claims following allegations levied against them by the Presidential Committee on Subsidy, headed by Aigboje Aig-Imoukhuede. The Media...

    • Posted November 1, 2012
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  • Akpabio Suggests Buying Bakassi Back As FG Moves to Support Cross Rivers

      Akwa Ibom state Governor, Godswill Akpabio has suggested an innovative remedy for the loss of the Bakassi region to Cameroon. The South-south governor of the oil-rich state proposed that Nigeria buy back the territory from Cameroon....

    • Posted November 1, 2012
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  • KPMG: Considered approach required when exploring opportunities in Africa

    For businesses to succeed in Africa, they need to recognise the diverse nature of African regimes. This emerged at KPMG’s Africa Conversation, “Investing in Africa: ‘been there-done that”, convened at the professional services firm’s 2012 Africa Partners’...

    • Posted October 31, 2012
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  • First Bank’s 3Q Profit of N66.3 billion is Industry Highest

    First Bank, the third largest lender in Nigeria according to Market valuation statistics has transmitted its third quarter earnings to the Nigerian Stock Exchange. The bank reported a 19% growth in gross earnings which were N267.7 billion,...

    • Posted October 31, 2012
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