Gold shot up above $1,500 an ounce on Wednesday for the first time ever, as worries over the health of the global economy boosted the metal as a safe haven. Spot gold hit a high of $1,505.21...

Depositors of the 103 failed Micro Finance Banks (MFBs) whose licences were revoked by the Federal Government are to be paid about N9.8 billion by the Nigeria Deposit Insurance Corporation (NDIC). Beneficiaries numbering 731,000 in 91 out...

The absence of market makers is stifling the growth and efficiency of the Nigerian capital market.     New chief executive officer of the Nigerian Stock Exchange (NSE), Oscar Onyema, has promised to reverse this trend by...

THE role being played by Nigerians involved in the downstream sector of the country’s economy towards national growth is unquantifiable. In fact, they have succeeded, to a large extent, in filling the yawning gap in the area...

First Bank’s decision to make one per cent general provisioning on its performing loans in its 2010 operating year is to strengthen future profitability says Bayo Adelabu, Chief Financial Officer of the Bank. The bank last week...

The Central Bank of Nigeria (CBN) has released revised list of codes for microfinance banks (MFBs) for the electronic rendition of returns. According to a release on the apex bank’s website and signed by the Director, Other...

There are indications that the banking sector may soon experience increased cost of borrowing as liquidity continues to diminish in the sector. The Chief Financial Officer, First Bank of Nigeria Plc, Mr. Bayo Adelabu, disclosed in an...

The merger and acquisition talks between First Bank of Nigeria Plc and Oceanic Bank International Plc have reached a deadlock. The management of the two banks had been talking secretly on a merger and acquisition deal. Both...

Nokia’s proprietary platform for applications, games, navigation and music, the Ovi Store, has grown by nearly eight times over the last year and has now reached up to five million downloads per day. This, according to a...

The total market for semiconductors was just shy of $300bn in 2010, notching up a 30 per cent increase from 2009, techeye.net reported on Monday Intel was once again top at the market, which grew overall by...