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Rice Importation Waiver is Fraudulent, Group Tells EFCC

A non-governmental coalition, Civil Society Network against Corruption (CSNAC), has urged the Economic and Financial Crimes Commission (EFCC), to urgently set in motion its investigative team to unravel the cases of abuse and massive fraud in the N117billion rice import quota scheme. According to the Chairman of the coalition, Olanrewaju Suraju, CSNAC ...

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Ogun Honours Oba Otudeko Group Chairman, FBN Holdings Plc

The Ogun State government has conferred the special recognition award on , Business Mogul, and Group Chairman of FBN Holdings Plc, Dr. Oba Otudeko, CFR. Otudeko  was given the award as part  of the 40th anniversary celebrations of Ogun State.He was one of the five outstanding Ogun stakeholders on Tuesday. ...

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FCMB Sacks 150 Staff

First City Monumental Bank has sacked 150 of its staff, a top official confirmed on Monday. According to official who does nto want to b mentioned , told the News Agency of Nigeria (NAN) in Lagos that those relieved of their duties represented five per cent of the bank’s 3,000 ...

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FG seeks $3.5bn emergency loans from W’Bank, AfDB

The Federal Government is seeking from the World Bank and the African Development Bank the sum of $3.5bn (N697bn) in emergency loans to fill a growing gap in its budget in the latest sign of the economic damage being wrought on oil-rich nations by tumbling crude prices. The $2.5bn (N498bn) ...

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Group urges EFCC to investigate CBN’s $7bn loan to bankers

A Non Governmental Organisation, Civil Society Network Against Corruption (CSNAC), has  called on the the Economic and Financial Crimes Commission (EFCC), to investigate a Central Bank of Nigeria (CBN) soft loan of $7 billion granted to a consortium of bankers in 2006. In a petitioned signed signed and sent to ...

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Coca-Cola acquires 40% stake in Chivita

The Coca-Cola Company is now a shareholder of the holding company of Chi Limited, Tropical General Investments Group. Both companies, in a statement on Saturday, said a binding agreement had been concluded for the Coca-Cola Company to acquire an initial minority equity shareholding in Chi Ltd. In the statement by ...

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Oworu joins FirstBank Board, As Mahey And Abiru Retire

First Bank of Nigeria Limited, Friday, announced the appointment of Mrs. Olusola Adetoun Oworu (FCA) to its Board of Directors as an Independent Non-Executive Director, while Alhaji Mahey Rafindadi Rasheed, OFR and Mr. Adetokunbo Abiru both retired from the Board. Mrs Oworu’s appointment, which is still subject to approval by ...

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Buhari Is Repeating Mistakes Of Past 30 Years Says The Economist

“GIVE me lucky generals,” Napoleon is supposed to have said, preferring them to talented ones. Muhammadu Buhari, a former general, has not had much luck when it comes to the oil price. Between 1983 and 1985 he was Nigeria’s military ruler. Just before he took over, oil prices began a ...

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FirstBank Promotes Financial Literacy Programme For Secondary Schools

First Bank of Nigeria Limited, has reiterated its commitment to improve  financial literacy among the youth and the unbanked segment of Country’s  Economy. As part of the activities to empower the Nigerian child with a sound financial education, the bank has established the FutureFirst initiative aimed at empowering secondary school ...

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FG gives conditions for out-of-court settlement with MTN

The Federal Government on Tuesday gave conditions for an out-of-court settlement with MTN Nigeria in respect of the N780bn fine imposed on the company by the Nigerian Communications Commission for having 5.2 million unregistered subscribers on its network. At the resumed hearing of the suit it filed to challenge the ...

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