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CPC alerts on existence of bad fuel in the country
The Consumer Protection Council (CPC) has alerted on the existence of bad premium motor spirit (fuel), which has allegedly wrecked many vehicles in some parts of the country.
FG to establish teachers’ regulatory council
The Federal Government is to establish a teachers’ regulatory council as part of measures to raise the falling standard of education in the country....Defence Headquarters wants new equipment for navy, air force
The Defence Head quarters has urged the Federal Government to acquire modern equipment for the Nigerian Navy and Air Force....Yar’Adua in China, meets state oil company officials
President Umaru Yar’Adua will meet with China National Offshore Oil Corp (CNOOC) officials in Beijing this week, Chinese state radio said on Thursday, as energy-hungry China courts the oil-rich African nation....Liberty, S/African insurance firm, eyes Nigerian market
Liberty Group Limited, the life insurer controlled by Africa’s largest bank, is in talks to buy stakes in financial-services companies in Nigeria and Kenya to tap rising income on the continent....
PRODA has failed the nation -Ekpiwhre
The Minister of Science and Technology, Grace Ekpiwhre, has criticised Project Development Institute (PRODA), Enugu, saying it failed to achieve its objectives, since its establishment in 1970....Nigeria records 760,000 abortions yearly, says Gynecologist
Ejike Oji, a gynecologist, said on Thursday in Abuja that about 760,000 abortions are procured in Nigeria annually....Freedom of Information Bill passes second reading
Chairman, House of Representatives Committee on Information and National Orientation, Dino Melaye, says the Freedom of Information Bill has passed its second reading....Court fixes March 4 to decide PDP convention
An Abuja high court yesterday in Abuja fixed March 4, for ruling on the PDP National Convention, following a motion filed against the party and its key officials....Group plans one million-man march against kidnapping in Rivers
A socio-political organisation known as Rivers Solidarity Forum, says it is planning one million man march to protest the spate of kidnapping in Rivers State....CNPP criticises insecurity alarm by army, police
The Conference of Nigerian Political Parties (CNPP) yesterday in Abuja criticised the insecurity alarm raised by the military and the police after the judgment of the presidential election tribunal....Niger Insurance to raise capital base to N10bn
Bala Zakariya’u, chairman, Niger Insurance plc, yesterday in Lagos said the firm would be shopping for funds in the capital market by April....
Amaechi and the challenge of restoring peace in Rivers State
Chibuike Amaechi made history last year when he was asked by the Supreme Court to inherit the votes won by the PDP in Rivers State and step in as governor. IGNATIUS CHUKWU, our Assistant Editor in PH, examines the governor's efforts to improve the economic fortunes of the crisis-torn state...IATA begins countdown to last paper ticket
The International Air Transport Association (IATA) has begun an important countdown - 95 days to 100 percent e-ticketing. "In 97 days, the paper ticket gets put in a museum. On June 1, 2008 we will achieve 100 percent electronic ticketing," said Giovanni Bisignani, director general/CEO, IATA....Banks give N12.05trn credit to private sector in four years
The domestic economy got a boost as Deposit Money Banks (DMBs) gave out credits valued at N12.05 trillion to the private sector between 2003 and 2007, Chukwuma Soludo, governor Central Bank of Nigeria (CBN) revealed....IMFB partners Kano on Islamic banking
Integrated Microfinance Bank Limited (IMFB) has partnered Kano State Government to float and run Islamic banking product with a view to alleviating poverty among the people in the state....Dysfunctional politics not good -NLC
Nigeria Labour Congress, NLC, on wednesday formally reacted to the Tuesday ruling of the Presidential Election Tribunal that upheld the electoral victory of President Umaru Yar’Adua and reminded the political elite that Nigeria cannot continue to live on dysfunctional politics alone....
Nigeria missed oil boom opportunities -IMF chief
Nigeria has missed some of the fiscal opportunities offered by high oil prices, although it has made successful reforms which must now be preserved, the head of the IMF said yesterday....
‘Security, threat to private sector led economy’
Government’s desire to create a private sector led economy can not be realised without a secured environment essential for enterprise to thrive....
First City Q3 helps share price to new high of N19.88
First City Monument Bank plc Wednesday announced its third quarter result which ended up pushing the share price by N0.09 to a new high of N19.88...SSS closes Imo finance ministry
The State Security Service Wednesday locked the Imo State Ministry of Finance premises for over an hour....Niger Republic becomes co-sponsor of Trans-Saharan Gas Pipeline Project
Minister of State for Energy (Gas), and chairman of the steering committee of the Trans Saharan Gas Pipeline Project, Emmanuel Odusina has said Niger Republic has been admitted as as co-sponsor of the project....
Stemming the carnage on our roads
Accidents on our roads have reached such a level where the temptation to assume that it is a permanent feature on our roads is high....Handbags, envelopes now attract criminals in Port Harcourt
Handbags,large envelopes and other categories of hand luggage now attract criminals on the roads of Port Harcourt, the Rivers State capital, News Agency of Nigeria (NAN) survey has shown....Build your investment pyramid
This week I will let you know the importance of structuring your portfolio, after you have drawn up your financial and investment plans....Selected Insurance stocks that can delight investors
The huge potential of the insurance business has remained untapped in Nigeria. ...
Technology incubation: SMEDAN, NBTI map out strategies
Small and Medium Enterprises Development Agency of Nigeria [SMEDAN] and National Board for Technology Incubation [NBTI] have identified inadequate infrastructure, poor business management skills, obsolete equipment, poor networking and marketing skills, among others, as the reasons why technology incubation centres across the country have not grown to full potential....Investors switch to Oando after SNEPCO’s deal
The announcement that Oando has acquired 49.18 percent of Shell Nigeria Exploration and Production Company Limited (SNEPCO’s) interest in “production sharing contract & joint operating agreement” with respect to Offshore Mining License may have become an impetus needed to drive up further its share prices....Heavy selling depresses Big Treat despite earnings growth of 40%
Shares in Big Treat plc Tuesday dropped N0.35 despite earnings report for the third quarter ended September 30, 2007 which shows 39.69 percent increase in net profit....
NUC uncovers 10 fake universities
National Universities Commission (NUC) has uncovered about 10 universities operating in the country without approval....
Yar’Adua returns budget 2008 to NASS
President Umaru Yar’Adua on Tuesday returned the 2008 budget passed by the National Assembly and asked it to reconsider areas of increase in the budget....
Verdict, wake-up call for Yar’Adua -Business leaders
For the business community and indeed all Nigerians, yesterday’s verdict by the presidential election tribunal is a signal to the Umaru Yar’Adua administration to get down on the job of fixing the country undistracted....
News Analysis: What next after Yar’Adua’s victory?
The cloud of uncertainty surrounding the presidency of President Umaru Yar’Adua was lifted on Tuesday after the Presidential Election Petition Tribunal hearing the petitions against his election last April put to rest the anxiety and uncertainties of his presidency....Appeal court upholds nullification of Nyako’s election
The Court of Appeal in Jos on Tuesday upheld the nullification of the election of Murtala Nyako as governor of Adamawa State and ordered a fresh election within 90 days....Nigerian prisons a ‘national scandal’ - Amnesty
Nigeria’s prisons are a “national scandal”, filled with thousands of inmates who have never been convicted of any crime and some prisoners wait decades to face trial, Amnesty International said on Tuesday....Gunmen kidnap 2 toddlers, an oil worker
Unknown gunmen have kidnapped two toddlers and an oil company staff in two separate incidents in Port Harcourt....
Tribunal upholds Yar'Adua's election
The presidential tribunal upheld the election of President Umaru Yar'Adua on Tuesday, rejecting challenges from his two closest rivals who alleged widespread vote-rigging....Transactions attract N19 bn as operators support market sanitisation
Equity transactions on the floors of the Nigerian Stock Exchange (NSE) Monday maintained its steady rise as investors swapped 1.3 billion shares valued at N19.03 billion in a deal of 20, 857 deals....Banks advised to walk away from big deals
Leading banks are being advised that it would be cheaper to walk away from big buy-out deals than incur further losses on their funding commitments, increasing the chances that more high-profile private equity transactions will collapse....
Kaduna refinery comes on stream this week -NNPC
The group managing director of Nigeria National Petroleum Corporation (NNPC), Abub-akar Yar’Adua, said Monday in Abuja that the Kaduna refinery would come on stream this week....Court adjourns hearing in Igbinedion’s case till March 17
Olayinka Faji of Federal High Court, Enugu, Monday granted Adetunji Oyeyipo, counsel to Lucky Igbinedion, former Edo State governor, 21 days to prepare his defence....Yar’Adua returns budget to National Assembly
President Umaru Yar’Adua has returned the 2008 appropriation bill passed on February 20, by the National Assembly to the legislature....Kabbah recommends Nigerian system to Africa
Former Sierra Leonean President Tejan Kabbah has called on African countries to emulate Nigeria by creating institutions to handle national political problems....
NAICOM resumes issuance of vehicle sticker
The National Insurance Commission (NAICOM), at the weekend, said it had resumed issuance of vehicle insurance sticker (VISER) as part of efforts to stamp out touting from licensing offices....Sony Ericsson, Netcom Africa, Starcomms secure stands at W.Afri.Tel 2008
As theopening date for this year’s annual West African International Telecommunications and Information Communication Technology Exhibition (W.Afri.Tel) draws near, leading handsets manufacturer, Sony Ericsson and Nigeria’s largest CDMA operator, Starcomms, are among companies that have got their stands confirmed by the organisers...
As enigmatic Castro takes a bow
A couple of days ago, the world was treated to a melodrama when the indefatigable Fidel Castro threw in the towel as the president of Cuba after 40 years on the saddle....Crusader Insurance to raise N15bn through hybrid offering
Crusader Insurance (Nigeria) plc is set to approach the capital market to raise fresh funds of N15 billion through a hybrid offering of Rights Issue and Public Offering....Resort Savings proposes 20K Dividend in 2010
Resort Savings and Loans Limited is to offer investors a 20 Kobo dividend in 2010, as it is set to raise fresh funds through a hybrid offering of Private Placement (PP), Rights Issue and Debenture....
'Why mortgage products are yet to translate into increased housing stock'
Mortgage finance Mortgage finance as it is today is not particularly established as a structure as it should and as it exists in developed economies....
Cuba: Reform beckons as Castro takes a bow
With the stepping down of Fidel Castro from power, CHIDI NDUKA AJA with agency report writes that Cubans have the opportunity to make real change but with his image looming large in the background, this may be far from happening immediately...Cadbury reviews prices over rising costs
The price of chocolate and sweets made by confectionery firm, Cadbury Schweppes may increase in view of the rising cost of raw materials....Guinness 6 month profit rises 11 percent
Results of Guinness Nigeria Plc, a subsidiary of the world's biggest alcholic drinks group, Diageo, for its six months to Dec. 31, 2007, as released by the Nigerian Stock Exchange....
Intercontinental Bank gets over subscription on $160m unsecured facility
Despite prevailing global credit squeeze, Intercontinental Bank plc has become the first Nigerian bank to achieve an oversubscription in the international debt market, with its just-concluded $160-million unsecured syndicated facility transaction....NYSC certificates declared missing
The National Youth Service Corps (NYSC) Headquarters in Abuja has declared some of its certificates missing....
Notore floats strategy to appease Niger Delta militants
A strategy to put a top to the incessant militants’ disturbances in the oil-rich Niger Delta region has been floated by Notore Chemicals Limited, the company that bought over National Fertilizer Company of Nigeria (NAFCON)....
The need to sell NNPC
In our previous editorial of the (date), we called for the privatisation of the Nigerian National Petroleum Corporation (NNPC)....SEC introduces electronic dividend payment system
As from next month, investors will be paid their dividends online, the Securities and Exchange Commission (SEC) said last week in Lagos....Universal Insurance coasts home on news of cross border merger talks
Newly listed Universal Insurance plc has continued to record huge patronage following news that the company is currently holding talks with an institutional investor based in the United Kingdom....UNIDO signs subcontracting, partnership exchange agreement with Nigeria
The United Nations Industrial Development Organization [UNIDO] has entered into an Industrial Subcontracting and Partnership Exchange [SPX] agreement with Nigeria by signing a Memorandum of Understanding (MOU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Abuja recently....Lotus Capital goes public with Halal fund
Nigeria’s pioneer ethical investment company, Lotus Capital, will today, offer to the public through an Initial Public Offer 1 billion ordinary shares of the Lotus Capital Halal Investment Fund at N1:00 (One Naira) per unit....Intercontinental Bank wins suit against Water Parks
Intercontinental Bank Plc and International Citadel Leenk Ltd last week, secured clearance from a Lagos Magistrate Court, which absolved them of any fraudulent act over the sale of Water Park’s property at Lekki Phase 2, Lagos, Magistrate Paul Ojo in his ruling on the suit filed by the Commissioner of Police against Intercontinental Bank and other accused persons also gave a clean bill of health to other accused persons Messrs. Kunle Ogunba, Akeem Babatunde and Kamal Bayewu....
Oceanic Bank structures middle class focused facility products
Chief Executive of Oceanic Bank International plc, Cecilia Ibru has assured that Oceanic Bank would work effectively with the Federal Government (FG) to create a middle-class society, with a view to properly developing the country....Diamond Bank to collect payments for LAWMA
Diamond Bank Plc, a leading Nigerian bank offering a wide range of financial services and products has been appointed by Lagos State Waste Management Authority (LAWMA) to collect its bills which can be paid in any of its branches within Lagos State....International Energy Insurance partners FADE on green desert
International Energy Insurance Plc (IEI), in following her culture of caring for the people and their environment, is sponsoring the Fight Against Desert Encroachment (FADE) team led by Newton Jibunoh on his 3rd expedition across the Sahara Desert....FG back-tracks on Nitel, seeks new investor
Federal government and private firm Transcorp, the owner of former state telecoms monopoly Nitel, said on Friday that a new investor should be found to buy a controlling stake in Nitel....FG sells 330-day secondary market treasury bills at 10.39%
Details of trading in Nigerian secondary market treasury bills in the week to Friday as released by the central bank on Friday:...Court grants MEND leader access to lawyers
Judge Babs Kwewumi on Friday ordered that Movement for the Emancipation of the Niger Delta (MEND) leader Henry Okah be given access to his lawyers, in the first court hearing related to an arrest that is capable of rekindly violence in the relatively calm Niger delta....
Election petition: Yar’Adua knows fate February 26
The presidential election tribunal hearing the petitions against Yar'Adua's presidency will rule on Tuesday on whether the election of was valid, a decision that could enshrine the status quo or plunge Nigeria into turmoil....
Naira drops vs dollar on big fx inflows
The Nigerian naira rallied to 117.47 per dollar on the interbank market on Thursday from 117.56 on Tuesday, buoyed by dollar big inflows from foreign investors and state oil firm NNPC, traders said....
NITEL: Arbitrary revocation against 2020 dream -Utomi, Etomi
Pat Utomi, a professor at the Lagos Business School has warned that Nigerian leaders cannot afford to arbitrarily abrogate transactions if Nigeria wants to be one of the world’s leading economies by the year 2020....Enugu procures N78m agro processing machines
The Enugu State government has approved the purchase of 520 agro processing machines at N78 million for cassava production....US airline to stop operations to Nigeria
US-based North American Airlines will on May 20, discontinue its scheduled service between New York and Lagos, an official said on thursday....A shot to revive Aba Textile Mills
Efforts are being made towards the resuscitation of Aba Textile Mills but daunting challenges await its owners and other operators in the textile industry, writes CHUDEY PRIDE, Assistant Editor, Eastern Bureau ...
Ageing: Making brisk business out of people’s indulgence
There is a boom in the cosmetic market for anti-ageing products and entrepreneurs are taking full advantage of this, write FUNKE ADETUTU and KEMI AJUMOBI...
MSMEs get a boost with the debut of Treasures MFB
With the recent final operating license granted it by the Central Bank of Nigeria (CBN), Treasures Microfinance Bank Limited is set to add a major boost to the federal government’s commitment to developing micro, small and medium scale enterprises (MSME) as a means of nation building....United Mortgage signs MoU with Bauchi gov
United Mortgage Limited (Mortgage Bankers), one of the foremost Primary Mortgage Institutions (PMI) in the country has just executed a Memorandum of Understanding (MoU) with Bauchi State Government for the provision of mortgage finance to civil servants in the state....Guinness unveils new bottle for Malta Guinness
Malta Guinness, non-alcoholic drink from the stable of Guinness Nigeria plc, now wears a new look, a contemporary shaped bottle, embossed with the distinctive barley labelling....MMA2 safety may force Arik to divest $5.2bn from Nigeria
Arik Airlines may soon divest the sum of $5.2-billion from the nation’s economy and divert it to willing neighbouring African nations....
N/Assembly passes harmonised N2.898trn budget
The Senate and the House of Representatives have both passed the harmonised N2.898-trillion budget for the year 2008....CBN records $65.6bn Forex
Between January and November 2007, aggregate Foreign Exchange (FOREX) inflow to the country through the Central Bank of Nigeria (CBN) totalled $65.6 billion....Oil companies can’t meet gas flare-out deadline -Chevron boss
International oil and gas companies operating in Nigeria may not meet this year’s deadline to end gas flare, a top oil executive has said....Court urged to adjudicate in Virgin Nigeria, FG case
A Federal High Court sitting in Lagos has been urged to adjudicate in a suit filed before it on the breach of the Memorandum of Mutual Undertaking (MMU) entered into by representatives of the Federal Government of Nigeria and Virgin Atlantic Airways on the establishment of Virgin Nigeria Airways Limited....
Lukman sheds light on new petroleum industry bill
A renowned energy expert, Rilwanu Lukman, says the new Petroleum Industry Bill will constitute one-stop legislation for all actors in the industry....Group plans mass protest against militants
Leadership and Youth Empowerment Initiative (LYEI), a non-governmental organisation, says it will mobilise youths and women to protest against violence in the Niger Delta region....
AP shares suspended prior to public offer
African Petroleum Plc (AP) has been suspended for trading on the floor the stock exchange, the suspension came prior to a public share offering, said Stock Exchange spokesman on wednessday....Obi orders decongestion of Upper Iweka as 25 die in auto crash
Following last weekend fatal accident in Anambra State, Governor Peter Obi has directed the immediate decongestion of the ever busy and crowded Upper Iweka area of Onitsha, the commercial nerve centre of the state....
SGS scanning pursues 48 hours cargo clearance deadline
With the recent move to enhance quick cargo clearance at the country's seaports, on line posting of Risk Assessment Reports is the sure means of making this government policy a reality, CLIFF ALOZIE-ERONDU writes....AP moller gives Apapa Port facelift
Huge investments by some terminal operators have added a new angle to business transaction at the country's ports CLIFF ALOZIE-ERONDU writes...Killing Tinapa with officialdom
In today's race for development and advancement, nobody needs to reinvent the wheel. For individuals, organisations and, especially, nations, the path to advancement is no longer a mystery. It has been treaded over the years by those we are trying to emulate....
Navigating Lagos chaotic traffic and danger spots
Worsening security and traffic situations have aggravated the fortunes of starry-eyed Lagos residents who are already bogged down by high cost of living, writes MIKE OCHONMA ...Investors reposition for gains as Livestock Feeds Q2 rises 140%
Livestock Feeds plc which recently released its second quarter un-audited results on the floor of the stock exchange posted a gain of N0.18 or 2.6 percent Wednesday as investors reposition for gains in the animal feeds manufacturing company....Facing up to China
So much has been written about China, its place in the world, and its current interest in Africa that your diarist has tended to shy away from the subject, especially as the interest is probably going to become more intense as the Olympic games approach....
We are safety conscious – Chanchangi Airlines boss
Chanchangi Airlines has been operating for over 10 years, managing director of the airline in an interview recently with WALE HAASTRUP says safety has always been the airlines’ watchword....
Diamond bank 9-month profit jumps 107 pct
Results of Diamond Bank Plc for the nine months to Jan. 31, 2008, as released by the Nigerian Stock Exchange on Wednesday: ...
GTBank returns N25.89 to investors
GTBank during the year ended 2007 had a total average return on investment of N25.89 to investors....New capital base to engender growth of mutual funds -Olayemi
The capital market will witness sharp growth in the mutual funds market as a major fall out of the new policy for N1.0 billion base fund for operators, experts say. ...
Nigerian stock market is on the right track — Akamobi
Akamobi ECM, managing director Star Insurance Brokers Ltd has said that the recent speculations about possible world stock tumble would not have any effect in Nigeria....Why parents secure children’s future through stock investments
By combining two resource materials, “How To Make Money In Stocks” by William O'Neill, the founder of Investor's Business Daily and excerpts from The Investopedia University, I was able to come up with the above caption and the contents below....Stocks that can reward investors in 2008
Custodian and Allied Insurance Plc New generation” insurance company, focused on underwriting general insurance risks...FG gets $5bn from oil firms to plug $8.8bn gap in JVs
After prolonged dithering over fundingof government share of joint venture oil operations, presidential adviser on energy, Emmanuel Egbogah, yesterday said a breakthrough that would close the $8.8 billion (N1.03 trillion) gap has been found....Higher food prices speed inflation to 8.6% in January
Consumer price index accelerated to 8.6 percent year-on-year in January driven by sharp increase in food prices, the National Bureau of Statistics has said. The CPI rose from 6.6 percent in December last year....Militants demand proof leader is alive
A militant group, Movement for the Emancipation of the Niger Delta (MEND) from Niger Delta demanded on Wednesday that lawyers, relatives and the Red Cross be allowed to see their detained leader, Henry Okah, to confirm he is alive....Union welcomes FG’s decision on NITEL, Mtel
The National Association of Telecommunications Employees (NUTE) yesterday applauded Federal Government’s decision to reverse the sale of NITEL and Mtel to Transcorp....
Yar'Adua vows to triple power generation in 18 months
President Umaru Yar'Adua on Tuesday ordered a new task force to triple electricity generation capacity within 18 months, an ambitious goal in a country where power generation has stagnated for decades....Sugar council calls for review of 2003 policy
Usman Bello, the executive secretary, National Sugar Development Council, has called for an update of the 2003 policy to reflect the status of the industry as private sector-driven....Oyo will generate N2bn from billboards - Commissioner
Oyo State is expected to generate about N2 billion from placement of billboards in 2008....Northern speakers want Yar’Adua to address issue of epileptic power
Speakers from the 19 northern states houses of assembly have called on President Umaru Yar’Adua to find solution to the problem of epileptic power supply in the country if the goals of Vision 2020 are to be realised....UNICEF to assist Nigeria on sanitation
UNICEF says it will continue to assist Nigeria to overcome the challenges in meeting the MDG targets on sanitation, News Agency of Nigeria(NAN) reports....Institute gets grant for bio-safety research
The National Biotechnology Development Agency (NABDA) has approved a N950,000 grant for the Institute of Agricultural Research (IAR), Zaria to develop biosafety amenities....Transcorp recalls N35m January salary of Mtel staff
Transcorp has recalled a cheque of N35 million meant for the payment of January salaries of Mtel staff, an official of Mtel said Tuesday in Abuja....
Imo elections tribunal adjourns judgment indefinitely
The Imo State Election Petitions Tribunal yesterday in Owerri adjourned indefinitely on a petition against Governor Ikedi Ohakim’s election by Ifeanyi Araraume...FG commences process of optimising indigenous science and technology
The Federal Government has commenced the process of streamlining and optimizing indigenous science, technology and innovation system for global competitiveness....27 Delta communities receive international aid -Official
No fewer than 27 poor rural communities in Delta have benefited from an internationally funded community-based National Resource Management Programme (CBNRMP)....
For a people-oriented agenda
Recently, US-based international opinion research firm, Gallup Poll, released the results of a survey which found that over 79 percent of Nigerians are ignorant of the economic blueprint of the Federal Government as encapsulated in its seven-point agenda....Welfare of Nigerian workers and trade on Workmen’s Compensation
Welfare of Nigerians should be the top priority of Government at all levels particularly those who have been elected to represent the people at the National Assembly....
Access Bank’s 9.164b shares boost outlook
Shares outstanding in the name of Access Bank Plc totaling 9,164,340,987 were Monday listed on the floor of the Nigeria Stock Exchange....SEC investigation causes panic sales in Afroil, IPWA
The market closed strong, although the NSE All- Share Index remained relatively flat, as shares from the 2007 offer for subscription for Access Bank were listed Monday....Yar’Adua laments conflicting roles of NNPC
President Umaru Musa Yar’Adua yesterday lamented over what he called the multiple and conflicting roles of the Nigerian National Petroleum Corporation (NNPC), saying it has affected the corporation’s capacity to discharge its primary functions....Yar’Adua restates commitment to fight electoral frauds
President Umaru Yar’Adua yesterday reaffirmed the determination of his government to tackle the problem of electoral malpractices at all levels of government in the country....
Court adjourns Ibori's case to March 5
The Federal High Court, Kaduna, yesterday adjourned the trial of former Governor James Ibori of Delta to March 5....Technology village will become a reality - minister
Minister of the Federal Capital Territory , Dr. Aliyu Modibbo Umar, has stated that one of the main challenges of his administration is to ensure that the Abuja Technology Village becomes a reality....
Reversal of NITEL sale as privatisation albatross
When, in July 2006, the 51 percent takeover bid by Transnational Corporation of Nigeria (TRANSCORP), was finally sealed, hopes were high that the Nigerian Telecommunications Ltd (NITEL) would soon bounce back to life....Speculations drive Chevron as investors relish Fidelity’s Q2
Speculations on a the acquisition of Chevron Oil Nigeria Plc by various companies that have been showing interest has continued to drive the company’s share price....Investors see Costain plc as hot money stock
This commercial construction company could be one of the biggest profit leaders in the next 10 months....Build your own retirement financial plan
However, we must admit that Government or company sponsored or Pension Plan is a right step in the right direction when it comes to the future welfare of workers....Chevron, others launch learning centres
Chevron Nigeria Ltd. (CNL), Coca-Cola Nigeria (CCN), The Coca-Cola Africa Foundation and Discovery Channel Global Education Partnership has announced the launch of an innovative education project in Lagos involving eight new Learning Centres and a teacher training programme....Ericsson appoints Sesema PR communications agency
Ericsson has announced Sesema PR as winner of the company’s West Africa public relations account....Electricity consumers owe PHCN N1.2bln in Niger
Electricity consumers in Niger are owing Power Holding Company of Nigeria (PHCN) N1.2 billion....Banks to pay life insurance to policemen
The life insurance of policemen killed by armed robbers while guarding banks would henceforth be paid by the banks....Minister worried over implementation of reform agreement
Poor implementation of port concession agreement two years after the exercise kicked off has become a source of worry to the Minister of Transportation, Diezani Alison Madueke....
Nigerian naira dips to 117.57/$ despite dlr inflows
Naira slipped to 117.57 per dollar on the interbank market on Thursday from 117.55 on Tuesday despite dollar supplies by two oil companies, traders said....
Lack of rainfall threatens Nigerian cocoa mid crop
A longer-than-usual dry harmattan season in Nigeria's key southwest cocoa farming zone has raised fears of sharp decline in the imminent light crop, the Cocoa Association of Nigeria (CAN) said on Friday....
High stakes, hard road ahead for Nigeria gas plans, says expert
If they succeed, Nigeria’s ambitious plans to grow its domestic gas sector and boost power generation could improve the lives of millions, but translating the blueprint into reality will be a major challenge....
Investors look to Afribank for dividends, bonus shares
There are indications that the board of Afribank Nigeria Plc is contemplating a bonus declaration at the end of current financial year....
Those moralists in Abuja
We feel rather sad that we are compelled to devote editorial space for an issue that should be consigned to the dust bin of history....
Citiserve boss urges stricter supervision of microfinance banks
A call has been made to Central Bank of Nigeria (CBN) to step up its supervisory oversight on microfinance banks to ensure they work within the framework for which they were established....UBA commences account verification in former Gulf Bank
United Bank of Africa (UBA) Plc has started verifying the accounts of depositors in the liquidated Gulf Bank....Dafinone decries N444 billion vote for Niger Delta security
Niger Delta leader, David Dafinone, says the N444.6 billion allocated to security in the Niger region in the 2008 budget will not achieve the desired result....FG asks court to vacate injunction on Virgin Nigeria
The Federal Government has asked a Federal High Court to vacate an interim injunction restraining it from relocating airlines operating domestic flights from the Murtala Muhammed International Airport, Lagos....
10 million Nigerian children out of school?
Two days ago, we chronicle the disaster that has become of the country's educational system and the way forward, but we are less comforted by the news from UNICEF that over 10 million Nigerian children are not in school....
Skye Bank eyes power sector
The Managing Director of Skye Bank Plc, Akinsola Akinfenwa, has expressed his bank’s interest to invest in the power sector as a means of shoring up the investment base of the bank and make it ahead of its competitors in the market....Benue not yet on pre-paid meter — PHCN
The Acting Manager of PHCN in Benue, Baba Ayi, says the state was yet to join other states where pre-paid meters are in use....FCMB records 223% subscription level
First City Monument Bank Plc (FCMB) has announced the result of its recently concluded Public Offer with a subscription level of 223 per cent....Exchange trades N83.6bn shares
A total of 5.9 billion shares worth N83.6 billion were traded in 91,171 deals on the Nigerian Stock exchange last week....Equity Assurance embarks on staff development
Equity Assurance Plc has reemphasized its readiness to invest in the training and retraining of its manpower as a necessary step to positioning the company for new challenges in the market....Nasarawa tribunal affirms Doma’s election
The Nasarawa Elections Petitions Tribunal Monday affirmed the election of Aliyu Doma as the governor and struck out the petition of Solomon Ewuga, the ANPP governorship candidate....
FG studying monthly dollar releases to states
The Federal Government is study ing the possibility of releasing monthly funds to state governments in dollars rather than in naira but no decision has been taken, Shamsuddeen Usman, finance minister said yesterday....Minister asks gas companies to satisfy local market first
Minister of state for energy (gas), Emmanuel Odusina, says there is need to satisfy the nation’s domestic gas demand before export. He said this Tuesday in Abuja at the conference marking “50 Years of Oil in Nigeria.”...Ministry develops ‘drought preparedness plan’
In order to proactively avert the increasing poverty level associated with the phenomenon, the Federal Ministry of Environment has developed a “drought preparedness plan”...
World Bank to partner Anambra
The World Bank has commended Governor Peter Obi of Anambra State for his efforts at comprehensive development of the state and his commitment to due process....Navy, NIMASA establish panel to fight piracy
A panel has been established by the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Navy to fight piracy in the Nigerian waters....FG urges halt to kidnap, hostage taking
The Federal Government has urged militants in the Niger Delta to stop kidnapping and hostage taking to pave way for peace and development in the region....Government to involve traditional rulers in supervision of schools
The Sokoto State government will collaborate with traditional rulers to effectively monitor the performances of secondary school principals, the commissioner for education, Arzika Tureta, said....I have no influence in Benue Election Tribunal, says Mark
Senate President David Mark says he has no influence in the matters before the Benue State Electoral Tribunal or any tribunal sitting over electoral matters in the country....
LASTMA, the law and revenue generation
We doubt if there is any country where the laws of the land are violated with impunity the way it is in Nigeria, even with the assistance of the institutions mandated to enforce some of these laws....
Child's right to life: Action before extinction (5)
It is a fact well known to civilization that the reason why a child is sent to school is to obtain quality education. ...Motorists unaware of new FRSC safety standard
Commercial vehicle drivers in Warri and environs say they are not aware of the new Road Transport Safety Standardization Scheme (RTSSS) of the Federal Road Safety Commission (FRSC)....Fund is our constraint, says Emanuel Iroh
Iroh is the marketing manager, Bemm Foods and Beverages Limited, makers of Buggles peanuts and cheese corn snacks. He shares with GODFREY OFURUM the challenges of producing peanuts in Nigeria. He spoke to GODFREY OFURUM. Excerpts ...Oceanic Bank set for biggest dividend payout
Oceanic Bank International Plc has concluded arrangements to pay an interim dividend this year to all its shareholders....Trade facilitation: SGS backs govt’s trade drive
Societe General deSurveillance (SGS) Limited, a worldwide cargo inspection agency said it is poised to back the Nigerian government achieve success in global trade facilitation drive....NDE partners Celtel on job creation
National Directorate of Employment (NDE), has signed agreement with Celtel to generate jobs for unemployed youths in the country....
Oil sector gulped $39.2bn in 8 years -Ajumogobia
Minister of State for Eergy (Petroleum) Odein Ajumogobia says that about 39.2 billion dollars was allocated to develop the nation’s oil and gas industry in the last eightyears....
S/Africans take N70.5bn in minor divestment from MTN Nigeria
Mobile Telephone Networks (MTN), the South African parent company of MTN Nigeria, has successfully completed its private placement in which it allowed Nigerian individual and institutional investors to acquire 9.45 percent stake in the local business....
FG shops for new investors for NITEL/MTel
The Federal Government has embarked on the search for new investors for NITEL and MTel to improve on its dwindling fortunes. In a meeting with Transnational Corporation (Transcorp) last December, government made clear its position to get another investor to salvage the telecom company....
Igbinedion, Ibori regain freedom
Former governors of Edo and Delta states, Lucky Igbinedion and James Ibori who are standing trial for corrupt practices were on monday granted bail by courts in Enugu and Kaduna....Commission requires $100bn to execute master plan — Alaibe
The Niger Delta Development Commission (NDDC) requires $100 billion to execute its master plan, its managing director, Timi Alaibe has said....Oyo generates N39.6bn in 10 months -Commissioner
Adebayo Bankole, Oyo State commissioner for finance, budget and planning, said weekend that the state government realised N39.7 billion as accrued revenue between January and October 2007....
Oyo allocates land to public through electronic method
Oyo State government is to commence allocation of land to the public through electronic method this year, commissioner for lands, housing and survey, Kunle Ishola, has disclosed....
The collapse of the education system (II)
In our Monday editorial, we had drawn attention to parlous state of the nation's higher education, calling for an emergency and Marshall Plan to be declared on the sector to bring the Ivory Towers to the glory days if Nigeria is to attain the Vision 2020 status....
Afribank outlines growth strategy
Sebastian Adigwe, chief executive officer, Afribank, told the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN) led by Juliet Madubueze, that the Board and Management have developed the mindset and strategies to make Afribank a world-class financial institution....VISAFONE launches first dual sim phone in Nigeria
Visafone, Nigeria’s newest mobile telephone company has unveiled its first-ever, customised and branded dual SIM phone which can receive calls on both CDMA and GSM networks simultaneously....
CBN considers policy shift in reserves management
•UBA gets edge on account of European expansion...
Excess crude fund share poses further liquidity challenge
There is an unprecedented amount of money washing round the banking industry and it has to try and find a home....
FG to evolve national power master plan
The Federal Government is to evolve an effective electricity master plan for the country as part of a long-term power supply strategic planning goal....
‘Nigeria’s power generation drops by over 79 %’
Nigeria’s quest for a stable power supply would be a mirage unless concrete efforts are put in place to save the electricity supply sector from collapse....
Armed bandits accompany Chadian refugees -Senate president
Senate President David Mark Sunday alleged that armed bandits were coming into Nigeria along with Chadian refugees, saying that security agents at the borders must intensify surveillance....Anti-graft agencies set up task force for assets’ verification
A joint task force of the country’s anti-corruption agencies has been set up for the verification of the assets of public office holders, the News Agency of Nigeria (NAN) reports....Reps urge release of NDDC funds
South South caucus of the House of Representatives has urged the Federal Government to immediately release all funds accruable to the NDDC....Jonathan flags off transportation of Christian pilgrims
Vice President Goodluck Jonathan has enjoined Christianpilgrims to this year’s pilgrimageto conduct themselves in a way that would bring glory to the country while in the holy land....
The collapse of our institutions(I)
It is an incontrovertible fact that the reason why things work well in advanced societies is the realisation that institution building is very important in value creation and development....NDE partners Celtel on job creation
National Directorate of Employment (NDE), has signed agreement with Celtel to generate jobs for unemployed youths in the country....Capital Alliance names two new partners, launches family of funds
Nigeria’s first private equity firm, Capital Alliance has appointed two new partners into its fold as it launches a family of funds to promote Nigeria’s quest to put her available medium and long term capital to productive use....Ban on promotions by GSM operators
Following the results from its our latest tests with the newly acquired GSM quality of service testing equipment, the Nigerian Communications Commission (NCC) has issued fresh directives stopping the GSM operators from embarking on promotions of any kind....Monetisation benefits to be paid soon -Adeyemi
Smart Adeyemi, chairman of Senate committee on federal character and Intergovernmental affairs, has said that the arrears of monetisation benefits owed workers in parastatal agencies will soon be paid....
Shell declares force majeure on 130,000 bpd
Oil giant, Royal Dutch Shell has declared a force majeure on exports of 130, 000 barrels a day from Bonny Light oil terminal due to security concerns, company officials said yesterday....‘Education puts Nigerians off hard work’
The more educated Nigerians are, the less they believe hard work will deliver success, a new poll shows....Aero begins regional flights from MMA2
Nigeria’s flag carrier, Aero will Monday, February 11 become the first airline to begin flights to its regional routes from the Murtala Muhammed Airport Terminal 2, MMA2....Dangote’s cement factories in Ogun to cost N115.8bn
The chairman of Dangote Group of Companies, Aliko Dangote, says the two cement factories being established by the group in Ogun State will cost N115.81 billion....How a relocation order threatens the peace of aviation industry
A fresh crisis is brewing in the aviation industry as an affected airline squares up against government's directive for the relocation of all domestic operations from the international wing of Lagos Airport. WALE HAASTRUP writes on the need to resolve the issues before things go awry...
Legislative drag on the wheel of stock market growth
From all indications, it is fast becoming obvious that not a few investors believe there are legislative and regulatory voices which are determined to slow down growth in the Nigerian capital market....
The carnage in Chad
On Saturday last week, some residents of the Chadian capital, N'djamena, were struck with fear, while some others cheered on as rebel forces entered the city and surrounded the presidential palace....
Nigeria moves to terminate onshore MoU with oil firms
Royal Dutch Shell plc said the Nigerian government has indicated its intent to terminate a memorandum of understanding signed in 2000 that governs onshore production and replace it with a standard tax plan, Bloomberg reported on tuesday....
Fish scarcity looms as 170 vessels are recalled
Fish, the major source of protein for most Nigerian families may become unavailable soon as over 170 fishing trawlers have been withdrawn from the country’s water by their owners....
Nigeria will not host AFRICOM -Defence Minister
Nigeria has not agreed to host the headquarters of the Africa Command (AFRICOM), the minister of defence, Yayale Ahmed, said Tuesday in Abuja....Profits up 98% at Union Homes
Union Homes Savings and Loans plc recorded a profit after tax of N1.4billion for the nine-month ended December 31, 2007. ...