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  • First Bank strengthens profitability with 1% general provisioning

    First Bank’s decision to make one per cent general provisioning on its performing loans in its 2010 operating year is to strengthen future profitability says Bayo Adelabu, Chief Financial Officer of the Bank. The bank last week...

    • Posted April 19, 2011
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  • CBN releases revised reference codes for MFBsCBN releases revised reference codes for MFBs

    The Central Bank of Nigeria (CBN) has released revised list of codes for microfinance banks (MFBs) for the electronic rendition of returns. According to a release on the apex bank’s website and signed by the Director, Other...

    • Posted April 19, 2011
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  • Banks may experience consistent rise in cost of borrowing

    There are indications that the banking sector may soon experience increased cost of borrowing as liquidity continues to diminish in the sector. The Chief Financial Officer, First Bank of Nigeria Plc, Mr. Bayo Adelabu, disclosed in an...

    • Posted April 19, 2011
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  • First Bank, Oceanic merger talks stalled

    The merger and acquisition talks between First Bank of Nigeria Plc and Oceanic Bank International Plc have reached a deadlock. The management of the two banks had been talking secretly on a merger and acquisition deal. Both...

    • Posted April 19, 2011
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  • Nokia’s Ovi Store hits five million downloads daily

    Nokia’s proprietary platform for applications, games, navigation and music, the Ovi Store, has grown by nearly eight times over the last year and has now reached up to five million downloads per day. This, according to a...

    • Posted April 19, 2011
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  • Chip revenue rose to $300bn in 2010 – Report

    The total market for semiconductors was just shy of $300bn in 2010, notching up a 30 per cent increase from 2009, techeye.net reported on Monday Intel was once again top at the market, which grew overall by...

    • Posted April 19, 2011
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  • Gray handsets’ll continue to plague telecoms market – Report

    The problem of gray-market handset will continue to be a big challenge not only in Nigeria, but in the whole of Africa and the Middle East regions up until 2015. Gray-market handsets are cell phones that are...

    • Posted April 19, 2011
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  • Oil Exports: Funding Constraints Stall Electronic Monitoring

    Non-availability of funds has stalled electronic monitoring of Nigerian crude oil production and exports at land terminals and Floating Production Storage and Offloading (FPSO) vessels, THISDAY investigation has revealed. The idea of computerising of activities in all...

    • Posted April 19, 2011
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  • Inflation Rises to 12.8% on Political Spending

    Inflation rate in Nigeria rose to 12.8 percent year-on-year in March 2011, higher than the 11.1 per cent recorded the previous month, the National Bureau of Statistics (NBS) has said. Most analysts attributed the development to heavy...

    • Posted April 19, 2011
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  • Election: Dollar Demand Climbs by 43% over Violence

    Demand for the US dollar at the Central Bank of Nigeria (CBN) regulated Wholesale Dutch Auction System (WDAS) climbed by 43 per cent compared with the total amount offered by the regulator Monday. This was as a...

    • Posted April 19, 2011
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  • How Glo has maintained an edge in telecoms pricing

    The Nigerian telecoms industry, acclaimed as the fastest growing in Africa, has once again, come under global scrutiny on account of recent activities in the sector. The renewed interest in the country’s telephony landscape is occasioned by...

    • Posted April 19, 2011
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  • IMF urges budget caution in Africa

    The International Monetary Fund (IMF) is cautioning African countries to watch their spending during a year packed with elections in the region where rising food and fuel prices already pose a big threat to the poor. This...

    • Posted April 19, 2011
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  • Central bank goes tough on microfinance banks

    In a bid to check abuse and to tighten the regulatory environment, the Central Bank of Nigeria (CBN) has insisted that microfinance banks in the country must comply with the new reporting format.   It said in...

    • Posted April 19, 2011
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  • Market rebounds to N8 trillion

    The market capitalisation of equities at the Nigerian Stock Exchange, on Monday, rebounded to N8.086 trillion as investors scramble for Transcorp and banks’ stocks.   The market capitalisation had plunged middle of last month from the N8...

    • Posted April 19, 2011
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