All posts by Afolabi Ogunde

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  Stock Market Soars to 59 Week High, Led by Banks

  Nigeria’s stock index hit a 59 week high on Wednesday, crossing the psychological 24,000 point level, on confidence from the recovery of the banking sector and heavy buying of Union Bank shares, dealers said. Sub-Saharan Africa’s second...

  • Posted September 6, 2012
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  Citizens Plan Boycott to Protest Dana Air’s Lifted Suspension, Ex-President Implicated

  Members of the flying public are organizing boycotts against embattled Dana Airlines to protest the lifting of its suspension by the Federal Government yesterday. Members of the public had wanted Dana Airline to be suspended indefinitely and...

  • Posted September 6, 2012
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  French Company Fined 500,000 Euros for Nigeria Contract Bribes

  French aeronautics and defence group Safran was fined 500,000 euros ($630,000) on Wednesday by a Paris court for bribing public officials in Nigeria to win a contract in 2000/03. Investigating magistrates found that the bribes had helped...

  • Posted September 6, 2012
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  Naira Gains on Inflows, Reserves

  The naira snapped three days of declines on inflows and on bets the central bank will support the currency as reserves increased. The currency of Africa’s biggest oil producer climbed 0.1 percent to 158.38 per dollar as of 3:35 p.m....

  • Posted September 6, 2012
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  Nigerian Police Partners SEC to Tackle Capital Market Infractions

  The Nigerian Police has seconded 18 officers to the Securities and Exchange Commission (SEC) in order to protect investors against sharp practices of fraudulent fund managers, wonderbanks and other market infractions. Speaking on the development the Inspector...

  • Posted September 6, 2012
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  N5,000 note’ll pose threat to security – Lawmakers

  Some members of the Lagos State House of Assembly on Tuesday said  the proposed introduction of N5,000 currency by the Central Bank of  Nigeria would threaten the country’s security. Mr Mufutau Egberongbe , Action Congress of Nigeria...

  • Posted September 5, 2012
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  Iweala, Aganga Named As Potential Replacements for Outgoing WTO Head

  The names of Ngozi Okonjo Iweala and Segun Aganga, both members of the Federal Cabinet and Economic Management Team are being bandied as potential candidates for the leadership of the World Trade Organization (WTO). Current WTO chief,...

  • Posted September 5, 2012
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  Air Nigeria: Jimoh Ibrahim Throws in Towel, Sacks Workers

  Air Nigeria may have come to the end of the tarmac, as company Chairman Jimoh Ibrahim has cited employee disloyalty and weak environmental conditions for the folding up of affairs at the airline. The management of the...

  • Posted September 5, 2012
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  Nigeria Customs Service Generates N476.33 billion Revenue

  The Nigeria Customs Service generated N476.33bn revenue for the federation and non-federation accounts from January to July, this year, according to a document obtained from the NCS headquarters in Abuja on Tuesday. The document, made available to...

  • Posted September 5, 2012
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  Dangote & Business Elite Support CBN Policy, Envision N10,000 Note

  The Currency Restructuring Project of the Federal Government has found allies in the person of Aliko Dangote and other Nigerian business elite. Speaking on the N5,000 note, Alhaji Dangote said, “People are saying that Central Bank is...

  • Posted September 5, 2012
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