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Nigeria-based Africa Re gets S&P global recognition

Africa RE, the leading reinsurance corporation, has put Nigeria on the global insurance industry map, by being the first company in Nigeria to get a new A-(A minus) rating from Standard & Poor’s, probably the world’s most renowned rating institution. Standard & Poor’s Ratings Services raised its long-term financial strength rating and counterpart credit rating on Nigeria-based African Reinsurance Corp., Africa Re to ‘A-’ from ‘BBB+’.

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E-banking critical to building a stronger Nigeria-Ibru

Group Managing Director/Chief Executive, Oceanic Bank International Plc bank, Dr. Cecilia Ibru, has identified massive deployment of electronic banking solution as a critical factor to building a stronger Nigeria
Speaking at the on-going 9th edition of Card Expo Africa, an international conference and exhibition on cards holding in Lagos, Ibru stated that the bank’s philosophy of building a stronger Nigeria would not be fully realized until electronic banking solutions are found to the banking transaction needs of the customers, especially those whose businesses cut across countries and continents.

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Sale: PENGASSAN gives Addax mgt July 3 ultimatum

PETROLEUM and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has given a July 3, 2009 deadline for all labour/industrial relations matters including pensions and gratuities of members that must be discussed and finalised before any alleged planned sale of Addax Petroleum Development Nigeria Ltd is consummated to avoid the wrath of organised labour.

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