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  • Exchange row threatens market confidence

    The positive trading recently recorded at the Nigerian Stock Exchange (NSE) may be reversed following the quarrel between Ndi Okereke-Onyiuke, director general of the Exchange, and some aggrieved AP shareholders, some market operators have said. The exchange...

    • Posted April 23, 2011
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  • Central Bank may sack staff

    Lamido Sanusi, the CBN Governor has stated that some officials whose responsibility it was to raise the flag when things were going wrong in the banks cannot be absolved from blame for the crisis that eventually overwhelmed...

    • Posted April 23, 2011
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  • Strong oil prices trigger fear of fiscal indiscipline.

    Analysts have warned against financial indiscipline in the corridors of power. Speaking against the backdrop of the increase of the benchmark for oil price in the budget last week, they cautioned against fiscal indiscipline. According to Yvonne...

    • Posted April 23, 2011
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  • Central Bank to curb currency speculation

    As part of efforts to reduce pressure on the naira, the Central Bank of Nigeria (CBN) will today commence the sale of foreign exchange forwards. The sale was supposed to have commenced last Tuesday but had to...

    • Posted April 23, 2011
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  • China Leads in Asian Stocks Decline

    Most stocks fell in Asia as Chinese shares slipped on speculation that the country’s central bank may let the yuan strengthen to cool inflation. China’s currency touched a 17-year high against the dollar, gold climbed to a...

    • Posted April 23, 2011
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  • Toyota Predicts Global Output Will Normalise by December

    Toyota Motor Corp.   expects production to return to normal by December at the latest, as the world’s biggest car maker struggles with supply-chain disruptions caused by Japan’s record earthquake and tsunami. The automaker will begin raising production...

    • Posted April 23, 2011
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  • 90,000 Botswana Govt Workers on Strike

    Public servants across Botswana are in the fourth day Thursday of a strike that is expected to last until April 29. The strike began after the mediator between the five unions representing civil servants and the Directorate...

    • Posted April 23, 2011
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  • 22 Freight Forwarders on the Run Over Password Fraud

    Six chief executives of  freight forwarding agencies  have been arrested by the   Nigeria Customs Service (NCS)  for allegedly using the passwords of  three officers in the rank of Assistant Comptrollers  to exempt their  containers from being scanned...

    • Posted April 23, 2011
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  • Japan Budgets $49 billion for Post-disaster Reconstruction

    Japan’s cabinet on Friday approved a $49 billion budget to help in the reconstruction of areas decimated by last month’s earthquake and tsunami. The Disaster Relief Fund will pay for removal of rubble and debris, temporary housing,...

    • Posted April 23, 2011
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  • Polls: Economy records N280bn loss – LCCI

    The Lagos Chamber of Commerce and Industry, LCCI, yesterday, said the economy lost a cumulative N280 billion in the on-going elections nationwide. Speaking at the first quarterly press conference on the economy, President of LCCI, Otunba Femi...

    • Posted April 21, 2011
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  • Nigerian Breweries to acquire Sona from Heinekan

    Nigerian Breweries Plc has announced plans to acquire Sona Systems and Life Company from Heinekan NV. The company, in a statement made available to our correspondent on Wednesday, said this followed recent acquisitions of five companies from...

    • Posted April 21, 2011
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  • AMCON to list N1.7tn zero coupon bond today

    The Asset Management Corporation of Nigeria will today list 1.7 billion zero coupon bond 2013 Series 1 at the Nigerian Stock Exchange. According to a statement from the NSE, the 1.7 billion zero coupon bond will be...

    • Posted April 21, 2011
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  • CBN seeks creation of financial Ombudsman, others

    The House of Representatives, the Central Bank of Nigeria and other stakeholders in the financial sector have backed the establishment of the Office of the Nigerian Financial Ombudsman. Its duties are mainly to resolve “financial and related...

    • Posted April 21, 2011
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  • Oil market ‘ll continue to be an ever-changing arena – OPEC

    The Secretary-General of the Organisation of the Petroleum Exporting Countries, Dr. Abdalla El-Badri, has said that the oil market has been and will continue to be an ever-changing arena. According to him, this is because oil is...

    • Posted April 21, 2011
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