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PENGASSAN warns govt against planned deregulation

UMBRELLA body for senior staff in the nation’s petroleum sector, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has the federal government full deregulation of the down stream sector of the petroleum industry, without putting in place necessary facilities to make it, warning that anything short of putting the facilities in place would spell doom for the nation.

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Shareholders fault CBN’s move to sell five banks

It is a welcome idea , provided the CBN in its investigation has discovered that the former management of these five banks were not capable to lead the bank to greater height. Our shareholders’ group is in support of the sale of the shares to be created following the bail out of N400 billion given to these banks. But if the move by the CBN is to sell the entire banks, that is, selling both existing shares and the new ones to be created to foreign investors, then we would resist it to the fullest.

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Olive MFB partners Titanium Resources on grassroots empowerment

Olive Microfinance Bank Limited has entered into a strategic partnership with Titanium Standard Resources in its pursuit of grassroots development, as it is committing about N20 million start-up loan to empower graduates of a vocational institute in the country.
The company also introduced a new product that is designed to cater for the needs of artisans and cooperative societies in the country.

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IMF chief warns against unwinding stimulus too soon

The global economy is emerging from a deep downturn but the recovery will be sluggish and unwinding stimulus measures too soon could derail an upswing, IMF Managing Director Dominique Strauss-Kahn said on Friday.Speaking at a Bundesbank conference in Berlin, Strauss-Kahn expressed concern about the risks of a rise in unemployment, which he said could lead to a decline in potential growth and social consequences he said were “even more worrisome”.”

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