NIGERIA SET TO EXPORT CASSAVA BREAD
FBN PRE-TAX PROFIT RISES TO N75BN
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www.sunnewsonline.com/businessweek
Businessweek NOVEMBER 5, 2012
•Money •Companies •Commodities •Analysis •Technology •Interview •Management •Stocks
N3.7bn power transmission mgt deal under threat By LOUIS IBA
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igeria’s power sector reforms programme appear to be heading towards the rocks, at least in the transmission industry, as Daily Sun learnt that the recently signed $23 million (about N3.7 billion) management
What we have in Nigeria is armed robbery...not piracy – Ify Akerele, DG, NCS CROSS RATES NAME OF CURRENCY BUYING CENTRAL US DOLLAR 154.76 155.26 POUNDS STERLING 247.8946 248.6955 EURO 200.3678 201.0151 SWISS FRANC 165.6073 166.1423 YEN 1.9384 1.9446 CFA 0.2878 0.2978 WAUA 237.4157 238.1828 YUAN/RENMINBI 24.7678 24.8483 RIYAL 41.2638 41.3971 DANISH KRONA 26.8541 26.9408 SDR 237.7887 238.557 Official exchange rates as at 24/10/2012
SELLING 155.76 249.4964 201.6625 166.6774 1.9509 0.3078 238.9498 24.9288 41.5305 27.0276 239.3252
NIBOR TENOR Call 7 Day 30 Day 60 Day 90 Day Source: FMDA
RATE 12.2083 12.8750 13.9167 14.5833 15.2083
CHANGE 0.08 0.17 0.04 -0.04 0.12
DATE 24 Oct, 2012 24 Oct, 2012 24 Oct, 2012 24 Oct, 2012 24 Oct, 2012
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Fuel scarcity: Credit crunch scuttles importation efforts By LOUIS IBA
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igeria's perennial fuel scarcity might likely stretch into the New Year as most importers and marketers, who have the Federal Government's fourth quarter permit to import products into the country, insist they would not lift a finger and venture into the business until all outstanding debts owed them under the fuel subsidy scheme are repaid. An industry source told Daily Sun that marketers were finding it very difficult securing credits from local and domestic banks to bring in products offshore, as most of the firms involved in the deal were already
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contract with Manitobi Electric had been stalled due to an internal crisis between officials of the Power Ministry and the Canadian firm. A top official in the Power Ministry told Daily Sun that at the root of the crisis was
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