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Credit freeze: Banks’ board jittery over bleak income

The prospect of bleak turnover due to the credit freeze in the banking industry has become a source of concern for the boards of some banks and thus their executive management. Bankers are worried that with low income the banks are getting now prospects of robust dividend is ruled out which is the bottom line for all investors. Bank boards and their executive management will be facing hard times with shareholders at this year annual meeting.

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Dirty scrap business brings in clean money

Scraps of all forms and make are scattered in different locations in Nigeria, particularly on the streets, highways and water ways, causing unnecessary traffic and obstructing easy navigation on waterways. One of the most visible groups of scraps is the metal scraps, which consist of broken down ships, boats, barges, trailers, etc, and which have not ceased to constitute a nuisance to society.

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Insurers, reinsurers write off N1.1trn bad debts in three years

The nation’s insurance industry wrote off a whopping N 1.1 trillion in the last three years as provision for bad debts. A breakdown of the N1.1trillion revealed that the 51 insurance and reinsurance companies certified by the National Insurance Commission (NAICOM) wrote of N465 billion in 2007, N356 billion in 2008 and N282 billion by September 2009 amounting to N1.103trillion

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