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…Warns of $3bn yearly loss in oil revenue 15 August, Sweetcrude, Abuja – Nigerian Extractive Industry Transparency Initiative (NEITI) has asked the National Assembly not to pass the Petroleum Industry Bill (PIB) in its current form noting  that the country could lose $3 billion annually over...

Emma Amaize 14 August,Sweetcrude, WARRI- DELTA State Board of Internal Revenue, DIBR, has instituted a tax audit into the operations of Shell Petroleum Development Company, SDPC and Chevron Nigeria Limited, CNL, Warri, with regard to tax remittances to unearth the reasons for dwindling taxes paid by both oil companies to the state government in the last three to four...

International News · EUR: The euro fell on Friday, dragged down by persistent worries about core euro zone debt and a short selling ban by four European countries failed to lift investor confidence in the region’s banking sector. · GBP: Sterling fell against the dollar on Friday, tracking falls in the Euro versus the U.S. currency while sentiment remained soured...

  WASHINGTON, Aug 12 (Reuters) – Ngozi Okonjo-Iweala departs the World Bank as managing director on Friday and said her biggest challenge as Nigeria’s new economic chief will be to develop an economy that is less dependent on oil and gas. Okonjo-Iweala, who will take up the role of Nigeria’s Coordinating Minister for the Economy and Minister of Finance...

International News .  EUR: The euro edged up from lows against major currencies in Asia on Thursday but was seen vulnerable to renewed selling pressure as worries about the euro zone sovereign debt crisis spread to the region’s banking sector. .  JPY: The yen briefly fell sharply against the dollar on Thursday, pulling away from a rise close to an all-time high,...

International News · USD: The dollar edged up against the Australian dollar on Wednesday but its bounce was limited after the U.S. Federal Reserve vowed to keep rates near zero for two years, reaffirming the greenback’s status as a funding currency of choice for carry trades. · ZAR: The Rand fell over 1 percent against the dollar in early trade on Wednesday, but had...

International News · AUD: The Australian dollar recouped heavy early losses on Tuesday as Asian shares bounced from lows, though sentiment was still very fragile amid wild market swings. · CHF: The Swiss franc surged to an all-time high against the euro on Tuesday as investor’s confidence was shattered by extended falls in share prices, prompting them to flock to safe...

Oscarline Onwuemenyi The United States of America has promised to support Nigeria’s fight against corruption in the oil and gas sector by insisting...

International News · EUR: The euro jumped on Monday after the European Central Bank announced steps to ease tensions in the euro zone debt market, while the Group of Seven major industrial nations reaffirmed their vow to support financial market stability and growth. · CHF: The Swiss franc stampeded to a new peak against the dollar on Monday, with risk aversion on the...

International News · AUD/NZD: The Australian and New Zealand dollars, among this week’s worst performers in major currencies, nursed deep bruises on Friday following an investor stampede to the safety of cash and bonds on mounting fears of a global recession. · CHF: The Swiss franc hit a fresh record high against the euro on Friday as mounting fear of an economic quagmire...