All posts by Afolabi Ogunde

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  Nigeria Secures Low Interest $600 million Chinese Loan for Rail Projects

  Nigeria has signed a deal to borrow $600 million from China’s Export-Import Bank, most of which will be used to build a railway servicing the capital Abuja and surrounding areas, the finance ministry said on Wednesday. The loan was...

  • Posted September 13, 2012
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  Privatization Council to Take Decision on DISCO bidders Today

  The National Council on Privatization is expected to shortlist the 54 companies bidding for the 11 power distribution companies in Nigeria. Some of the companies that are involved in the bid process include Honeywell Energy, Oando, Rockson...

  • Posted September 13, 2012
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  Flour Mills $65 Million Lagos Plant Comes Onstream

  Flour Mills has inaugurated its $65 million ‘West Mills’ plant which has been described as the beginning of a new era in the conglomerate company. Speaking at the inauguration ceremony of the new mills plant, the Chairman, Flour...

  • Posted September 13, 2012
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  We’ll resume flight soon — Dana Air

  The management of Dana Air on Wednesday said the carrier would recommence its flight operations very soon, the spokesman of the airline following the restoration of its operating licence by the Federal Government. Dana’s spokesman, Mr. Tony...

  • Posted September 13, 2012
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  Power Ministry and PHCN Give Conflicting Data on Power Generation

  The Power Ministry has disputed claims that the quantum of power generation in the country has fallen by 1000 megawatts. The Permanent Secretary of the Ministry of Power, Dere Awosika, issued a statement on Tuesday disputing figures given...

  • Posted September 13, 2012
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  Zenith Bank and Visafone Introduce EaZyMoney

  Zenith Bank and Visafone Communications Limited have introduced a new mobile money payment system that is compliant with the vision of the cashless economy. The product is called the EaZy Money and it was unveiled to the...

  • Posted September 13, 2012
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  Access Bank to Cut Stake in Zambia Unit to 49%

  Access Bank, Nigeria’s fourth- biggest lender by market value, will cut to 49 percent its stake in its Zambian unit after the southern African country raised capital requirements, Chief Executive Officer Aigboje Aig- Imoukhuede said. Access will cut...

  • Posted September 12, 2012
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  Stock Market Review: Top Banking Stocks by Year-to-Date Performance

    The Nigerian Stock Exchange is offering investors some good returns so far this year. Some stocks have returned as high as 117% (International Breweries) and 101% (CAP Plc) as at today’s closing prices. As at today,...

  • Posted September 12, 2012
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  Dana Airlines: The Rise and Fall of Nigeria’s Common Enemy #1

  Nigerians love to have a common enemy, that’s why the churches modeled after MFM are thriving. Dana is a common enemy now because seemingly it’s a good target. It crashed 153 lives out of our airspace and...

  • Posted September 12, 2012
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  Telling Swiss Secrets: A Banker’s Betrayal

    Part 1: A UBS insider blows the whistle on Swiss banking. It’s the inner sanctum of Swiss banking — the heavily-guarded nexus between numbered Swiss bank accounts and their owners’ good names — and it’s the...

  • Posted September 12, 2012
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