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THISDAY • THURSDAY, OCTOBER 18. 2012
:JUSI NESS/MONEYG UIDE
flood Pushes up Food Prices ~ Inflation Eases to ll3% On the me hand, the d~
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Composite COllSUIJleI" Index (CPI), whKh ;;.. ~~ the ~el of inOation :- !he country eased 10 11.3 f.- r cent m September from 7 pi!l'" COlt in August. But the ~., r,flabl.{; ~~~ • MJi refIectJve ri ~ nwginaI e In pnces of food Items • a result ollhe fJood. which t ;vagro many parts 01 the ' JUntry in the penod under ~
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stability 01 the nalfa Wlthm the period ~ well as cop harvesting I"Kerriws, which began lal!' luly "'" auty Augu;I. """'" to mItigate the seventy ollhe lrI food pm hike, the ~ booaI Bureau of StaUstia (NOS) said yesterday. Acoonhng 10 its 1ah.5t r pi fil;UJ1!5, !he 3.4 per <ell ·-!<1derabm in Mldhne infIa- ..n was U90 made possibie ... the relativr 5Iow risoP in - ::lre" iroI:Jell whidl fell III 13.1 ,. cent year-on-year In the • ,;00 I.IrdII!r n.'YIl'W £rom 10 • ,. cent the prevIOUS month.
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inflation gave ~ 10 Central Bank 01 NigeN's U1
(CON's)
recent
tightening
monetary
stalll'e
which
afllmlg otirr thi~
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am-..d at redoclng inflation 10 single digit. The iIfl'l!X bulk had n..'Caftd 1rUere5f,..,lO!::! L2 per toll: .-d masnialnE'd the Cash ~ Requirement of banks at 12 per cent from 8 per <rill m a movr to reduce the voIwne of cash in the system. liDWe'Ve!", the NIt) noted that food inf1aOOn RR III 102 per C1!n1 from 9.9 per aont m the- same period. Ona~f.u;i.;.
the food index ~ by 1.1 per cenl from August. The me m food ~ was blamrd largety 00 higher knd pricr.s in variJus ~ including poblo5, yam and other tubeB as wdI as fruits,. bread and c..uOO and otha-
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""Th! ~ in therure IOdex wao; prutialty as. resuk of base eliccts the sharp rise in !he indo: cxhi:Iitcd in
as
· ;hareholders Scuttle Cornerstone, jnkage Assurance Merger Plan
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funds aJlmng from II major mvestor in the COPtJany •
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another NI billion ex~ from the National 't 1nsurarK"e SchcrnI! (N being ~ of previous nghts ts6Ue thai was trapped IJ1 the defunct AlIsbk5 i'rust Bank Me.. the company does not nerd any merge- for survival !-Ie am advint the boonJ 10 do a nghts iB.Jc,. il'l'ilIfWlg Ihat shard-dde-s would be rno5t wilUro\'" ...., up ..... """"
m the romp.my acrontingly.
AOO _kino on !he
ISSUe. another
shareholder.
Mr. Nona Awo,
tfu-egtl!ned that sharetdden would not allow the a.npany'5 b:lanJ 10 rail· road them into ill nnger ~ci:mon
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of Cornerstone, adding thai mmority shanfdIers WUJId
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MARKET INDICATORS
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NI80N " MONDAY
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1~·t lJ ·201l
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Adsyan. saJd sharehoIdem not afraid of Illf'J8'Cf but warned th.1t sharmoldns would not dose their ~ and a11ow3 the board 10 mIcr"
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Skye Bank Records N16.5bn Profit
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Comer.stone Irl;urarao which
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BUHtAU Ut ,,-""NUt """Hl\t' • MUt.oUII.l' 1"l"fU';':UI ...
defmitely move agotinst il Al9o, President old.! Ni rian Sharchokieni Association, Mr. Ttmothy were
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