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  • IFC invests 4.58 billion naira in GTBank

    The International Finance Corporation (IFC) has invested 4.58 billion naira in Nigeria’s Guaranty Trust Bank (GT Bank), one of the top five lenders by assets in sub-Saharan Africa’s second biggest economy, GT bank said on Monday. The...

    • Posted August 29, 2011
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  • NBC Shares on full Suspension, to be delisted on Sept 07, 2011

    The shares of Nigerian Bottling Company (NBC) Plc, bottlers of Coke, has been placed on full suspension following receipt of their application for delisting from the daily official list. The development means that there will be no...

    • Posted August 29, 2011
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  • Federal Government to install four hydro-electric turbines in Kainji

    The Federal Government has unveiled plans to install four additional hydro-electric turbines in the remaining units 1, 2, 3 and 4 open pits of Kainji Hydro-Electric Plant which have remained open since the completion of the plant...

    • Posted August 29, 2011
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  • 38 businessmen from East China visits Nigeria

    A trade group of 38 businessmen and government officials from East China’s Wenzhou City in Zhejiang Provicne visited Nigeria on Aug. 23-27. The businessmen coming from garment and shoemaking, electric appliances, building materials and agriculture visited free...

    • Posted August 28, 2011
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  • Extension of Interbank Guarantee to ETB on Signing of TIA – CBN Release

    Following the successful signing of Transactions Implementation Agreement (TIA) between Equatorial Trust Bank Limited (ETB) and Sterling Bank Plc, the CBN wishes to announce extension of interbank guarantee given to ETB to 31st December 2011. The extension...

    • Posted August 27, 2011
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  • Sanusi’s Financial Gerrymandering [Opinion]

    Editor’s note: This guest post is written by Chudi Offodile, a lawyer and former member of the House of Representatives When Elbridge Gerry was Governor of Massachusetts, USA, in 1812, the State legislature divided Essex County into two...

    • Posted August 27, 2011
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  • Globacom and UBA to Launch Mobile Money Services

    Leading telecommunications company Glo Mobile, on Friday, signed a memorandum of understanding (MoU), with Afripay Ltd., a member of the UBA Group, which has obtained a Mobile Money Licence from the Central Bank of Nigeria (CBN), in...

    • Posted August 27, 2011
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  • Shell Nigeria Reopens Utorogu Gas Plant

    Shell Petroleum Development Co. of Nigeria, or SPDC, said it has reopened the Utorogu Gas Plant in Nigeria’s Niger Delta. The plant was shut down Wednesday night following a leak on the Utorogu-UPS trunkline in Western Niger...

    • Posted August 27, 2011
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  • Copperbelt Energy plans to acquire stake in PHCN

    Zambia’s Copperbelt Energy Corp. intends to acquire a stake in a Power Holding Company of Nigeria. CEC’s managing director for corporate development, Michael Tarney, said the firm intends to bid for part of Power Holding Company of...

    • Posted August 27, 2011
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  • U.S. wants to invest in Nigeria’s energy sector

    United States federal government is taking serious interest in investing in the Nigeria’s energy sector, U.S. Ambassador to Nigeria Terence McCulley said. McCulley, however, urged the Nigerian government to address widespread corruption in the country’s energy sector....

    • Posted August 27, 2011
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  • Weekly Stock News (Aug 26,2011)

    Trading activities on the NSE bourse closed downbeat in all trading days of the week as market sentiments remained weak while market lack positive news to drive sustainable up trend. The bears remained in control of the...

    • Posted August 26, 2011
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  • Lagos to establish more asphalt plants

    The Lagos State Government is planning to establish three additional asphalt plants in Badagry, Ikorodu/Epe axis and the Lagos Mainland. Mr Samuel Ayetutu, Head, Public Relations Department, Lagos State Public Works Corporation (LSPWC), who disclosed this, said...

    • Posted August 26, 2011
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  • Private interests stalled PIB – Lee Maeba

    Overbearing  per sonal gain over national interest, prevented the passage of the Petroleum Industry Bill (PIB) by the previous  National Assembly, a former Senator and key player in the PIB, Lee Maeba, has said. Meaba, who was the...

    • Posted August 26, 2011
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  • FG needs $30 billion annually to develop energy industry

    Federal Government of Nigeria said on Thursday that the country would require a total investment of $30 billion annually to develop the entire energy industry. This is coming as the nation’s power industry is facing system failure,...

    • Posted August 25, 2011
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