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Private jet, Armoured Cars Were Bought With Malabu Oil Deal ‘Bribes’- Report

Tens of millions of dollars was wired to buy a private jet and armoured cars in the US from the controversial $1.3 billion sale of OPL 245, the Sunday Observer of London has reported, quoting court documents. In the deal struck in 2011, only $210 million of the sum went …

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Buhari Inherited A Bad Economy, Made It Worse – Soludo

A former Governor of the Central Bank of Nigeria, Prof. Chukwuma Soludo, on Thursday said President Muhammadu Buhari had worsened the “very bad” economic situation he inherited when he assumed power in 2015. Soludo spoke at the ‘Big Ideas Podium’, a public policy debate organised by the Afri Heritage Institution …

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FirstBank Partners Oyo State on Women Empowerment

FirstBank Nigeria in collaboration with  Oyo State Ministry of Women Affairs organised  a summit for the empowerment of women in the state on February 28, 2017. The summit which  was hosted by the wife of Oyo state Governor, Mrs. Florence Ajimobi with the chairman FBN limited Board of Directors, Mrs. …

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Malabu Oil Scam: ENI Denies Any Wrongdoings

ENI, also known as the Nigeria Agip Exploration Limited, has said the transactions leading up to the auctioning of $1,616,690,656.78 Malabu oil block followed due process The board of directors of the oil firm made this known in a statement on Wednesday. ENI said that an independent US law firm had …

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Xenophobic attacks: Militants threaten MTN, others as Obasanjo berates S’African leaders

A coalition of Niger Delta militants, on Wednesday, threatened to blow up Multichoice, owner of DSTV; MTN, Shoprite and 16 other major South African investments in Nigeria if the Federal Government failed to shut them down within one month. The militant groups, who were reacting to the xenophobic attacks on …

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LADOL, World Business Leaders Plot Africa’s Benefits In $12trn Global Economic Development

The Lagos Deep Offshore Logistics base (LADOL), has joined notable world business promoters in mapping out strategies to actualize how Africa could effectively reap a whopping $1 trillion from a projected $12 trillion new market value in an emerging global economic system. The projected $12 trillion economic developing plan evolved …

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Naira Further Gains As CBN Pumps In More Dollars

The naira on Monday continued to strengthen against the dollar and other major currencies, gaining N10 to exchange at N450 to a dollar at the parallel market. The pound sterling and the euro exchanged at N560 and N470. At the bureau de change (BDC) window, the naira sold at N399 …

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British Council Partners FirstBank To Host Lagos Theatre Festival 2017

British Council in partnership with First Bank Nigeria plc has announced this year Lagos Theatre Festival holding from 28 February-March 5, 2017. From Tuesday 28 February – Sunday 5 March 2017, over 500 artists will gather to present over 70 performances at 16 Venues, spanning 6 days at the Lagos …

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CBN Reintroduces Charges On Cash withdrawal

The Central Bank of Nigeria (CBN) has announced that charges on deposits will be re-introduced. In a circular released on its website, the apex bank said the decision was made at the 493rd bankers committee meeting that held on February 8. The apex bank also said it would extend its …

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Dollar Tumbles on Parallel Mkt, Buy Rate Falls Below N490

• Buy rate falls below N490 as Teriba urges CBN on building reserves • With $30bn, we have firepower to meet demand, says central bank • Fitch: New FX policy action may ease pressure on banks The new foreign exchange policy actions introduced by the Central Bank of Nigeria (CBN) …

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