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All posts by BusinessNews Staff

  • Depositors Loss In Failed Banks amounts to N187.23bn

    A total of N187.23 billion was lost by over 2.7 million depositors as a result of poor corporate governance that led to the liquidation of 46 banks by the Nigeria Deposit Insurance Corporation (NDIC) from 1994 to...

    • Posted October 17, 2011
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  • Dangote cement targets 18 million metric tons output per annum

    Dangote Group’s Chief Human Resources Officer, Mr. Pabby Paramjit disclosed this at the inauguration of Dangote Academy’s  Graduate Engineer Trainees Scheme, GETS,  at the Obajana Cement plant, Kogi State,  at the weekend. He put Dangote’s current cement...

    • Posted October 17, 2011
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  • Ngozi Okonjo-Iweala
    Nigeria Foreign reserves rise to $32.9b

    The nation’s foreign reserves has risen to $32.98 billion. As at October 13, it netted over $2 billion in five days. Data from the Central Bank of Nigeria’s (CBN) website showed that as at October 7, the reserves stood...

    • Posted October 17, 2011
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  • Access Bank finalise Intercontinental Bank takeover

    Intercontinental Bank Plc has become a subsidiary of Access Bank Plc, making it the first rescued bank to complete its recapitalisation. This follows the approval of the shareholders of Access Bank Plc and Intercontinental Bank Plc, sanction of the...

    • Posted October 17, 2011
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  • Retail giant Yusuffali MA tops Indian Power List

    EMKE Group boss Yussuffali MA has topped the list of the GCC’s 100 most powerful Indians, published by Arabian Business today. The group, which owns the Lulu chain of hypermarkets, is headquartered in Abu Dhabi and has offices...

    • Posted October 16, 2011
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  • This 23-Year-Old’s Startup Is Generating $10 Million This Year

    Nikhil Sethi is 23 years old. He met his 22-year-old cofounder, Garret Ullom, at Northwestern University in a Probability of Statistics of Random Signals class. Ullom was a computer science major; Sethi was studying electrical engineering and law. Sethi’s father had tried his...

    • Posted October 16, 2011
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  • International MBA: Top 30 Business Schools

    In its 9th annual list, The Economist ranked Dartmouth’s Tuck School of Business as the best in the world. Grads can expect to earn around $107,000, on average 65% more than their pre-MBA salary. But of course, there was a...

    • Posted October 16, 2011
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  • Sport: Chelsea will not sell Drogba and Anelka in January – Andre Villas-Boas

    Andre Villas-Boas says he will not sell Didier Drogba and Nicolas Anelka in January and would rather risk losing them for nothing. Drogba, 33, Anelka, 32, fellow striker Salomon Kalou, 26, and full-back Jose Bosingwa, 29, are...

    • Posted October 15, 2011
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  • The Nemesis Called Oil And Gas (1) – Nasir Ahmad El-Rufai [Opinion]

    Editor’s note: This guest post is written by Nasir Ahmad El-Rufai, a former Director General of The Bureau of Public Enterprises,  and also the former Minister of the Federal Capital Territory, Abuja. That Sunday was like every other one, but the impact...

    • Posted October 15, 2011
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  • Sport: Chelsea pays £2m for 14-year-old Oluwaseyi Ojo

    Chelsea have agreed to pay a staggering £2million to make an MK Dons youth-team player the most expensive 14-year-old in football. Teenage sensation Oluwaseyi Ojo is viewed as one of the hottest prospects in English football, with...

    • Posted October 15, 2011
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