Latest News

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  Manitoba TCN Contract Cancellation: Presidency Denies Rift Between Jonathan and Sambo

  The management contract for the Transmission Company of Nigeria awarded to a Canadian firm, Manitoba Hydro International has been cancelled. The presidency disclosed this on Wednesday saying, the contract was cancelled because of a series of infractions...

  • Posted November 15, 2012
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  Want to Know Where Subsidy money Went: Think Private Planes…$6.5 billion Worth of High Flying

  Within the last five years, some of Nigeria’s wealthiest people have spent about $6.5 billion acquiring new private jets, making it Africa’s biggest market for private planes, according to a new report. In a report published Monday...

  • Posted November 15, 2012
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  Nigeria Stock Exchange Watch: ASI (+0.21%) Recovers as Activity Accelerates in Insurance sub-Sector

    The major news in the market today was not the fact that the market bucked its losing streak by the ASI gaining 0.21%, or that Nestle released pretty impressive Q3, 2012 results. Analysts are wondering who...

  • Posted November 14, 2012
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  Private equity poised for push into Africa

  Private equity houses are swapping low-growth buyout deals in Europe and North America for a slice of booming consumer demand in Africa. They are drawn by a youthful and booming population that could almost double to 2...

  • Posted November 14, 2012
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  LASG Gives 48-hour Ultimatum to 1004 Estate Residents

    The Lagos state government has given the residents of 1004 a 48 hr ultimatum before they shut  down the group of flats. This was due to the failure of the residents to pay outstanding Land Use charges....

  • Posted November 14, 2012
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  FG appoints Stanbic as Government bond broker

    The Federal Government has appointed Stanbic IBTC as stockbroker for its debt, in a move aimed at expanding participation in government bond issues to retail investors on the bourse, the debt office said on Wednesday. Africa’s...

  • Posted November 14, 2012
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  Austerity Strikes ravage Europe

  While the European Leaders of Spain and Portugal Mr Marian Rajoy and Mr Pedro Coelho respectively decide to push more Austerity plans for their countries, the Citizens have resisted the move by embarking on a new round...

  • Posted November 14, 2012
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  Mobile Phone Users in Sub-Saharan Africa Rise 44%

  From the launch of the GSM mobile service in Nigeria in 2001 and subsequent spread of the service to other parts of Sub-Saharan Africa, skeptics have held the view that the service and the use of mobile...

  • Posted November 14, 2012
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  Apple reportedly manufacturing iPhone 5s already

  It may have only been on sale for weeks, but online rumours claim Apple is about to begin making the successor to the iPhone 5, believed to be called the iPhone 5S. A Chinese site claims the...

  • Posted November 14, 2012
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  Lagos State Commences Price Discovery on Proposed Seven-Year $507 Million Bond Sale

  Lagos State, Nigeria’s biggest commercial city also regarded as sub-Saharan Africa’s biggest city, concerning its proposed seven-year 80 billion-naira ($507 million) bond sale has started a process to gauge investor interest. The chief executive officer of Lagos-based...

  • Posted November 14, 2012
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  Jonathan Seeks Legislative Approval for $1.1 billion Bond Sale

  In a bid to continue a programme initiated under the administration of President Umar Musa Yar’Adua,” President Goodluck Jonathan has requested permission from the house to issue bonds worth $1.1 billion. Earlier the president wrote three letters...

  • Posted November 14, 2012
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  Oil Bunkering, Theft, Costs Government an Estimated $7 billion Yearly – IEA

  The International Energy Agency, yesterday disclosed that Nigeria loses about $7 billion to oil theft every year. This information was contained in the agency’s monthly report released on Tuesday, it said, “Oil bunkering, or theft, costs the...

  • Posted November 14, 2012
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  Oil Marketer Arraigned for N272.5m fraud, Remanded in Prison Custody

    An Oil marketer, Mr. Adejugbe Anthony and his company, Tonique Oil Services Limited were yesterday arraigned before  Justice Lateefa Okunnu of the Lagos High Court, Ikeja by the Economic and Financial Crimes Commission (EFCC) on a...

  • Posted November 14, 2012
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  A Subsidy Drama: The EFCC’s Romance with The Chairman’s Son

  In the war against terrorism, some countries refuse to negotiate with terrorists. These countries are the ones that are more successful than others. In the war against financial and economic terrorism or crass corruption, Nigeria always chooses...

  • Posted November 14, 2012
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