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  • Nigerian Stock Exhcange Watch: ASI (+0.28%), Market Capitalization at US$55 billion

    The All Share Index appreciated by 28 basis points on the bank of moderate demand for banking sub-sector participants. Positive price appreciation visited the likes of Union Bank (+5.4%), Skye (+3.75%), Diamond (+1.4%), UBA (+1.52%) and Stanbic...

    • Posted October 18, 2012
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  • EFCC to prosecute man arrested at Murtala Muhammed Airport with $7 million

    The Economic and Financial Crimes Commission, EFCC, has said it is set to arraign Abubakar Tijani, a money smuggler arrested last month. Mr. Tijani was arrested on September 27 at the Murtala Mohammed International Airport, Lagos when...

    • Posted October 18, 2012
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  • Thierry Henry, Marquez, Beckham top list of highest earners in MLS League

    To an overseas player in Major League Soccer, having your salary made public knowledge seems slightly strange to say the least. Remember the furore when John Arne Riise’s wage slip was found in a Liverpool street in...

    • Posted October 18, 2012
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  • Vice President to flag off 14th edition of Abuja International Motor Fair

    The Vice President, Arc. Namadi Sambo will lead other dignitaries from the public and private sectors to declare the 14th edition of the Abuja International Motor Fair open tomorrow. The 14th edition of the Abuja Motor show...

    • Posted October 18, 2012
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  • LCCI raises alarm over Nigeria’s debt profile, cost of borrowing

    The Lagos Chamber of Commerce and Industry, LCCI, said the country’s current debt profile was not sustainable, adding that the high cost of government borrowing was not healthy for the economy. Speaking at its third quarter press...

    • Posted October 18, 2012
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  • Newsweek magazine to stop printing, go all-digital

    Newsweek, the venerable U.S. weekly current affairs magazine, will publish its final print edition on Dec. 31 and move to an all-digital format early next year, the latest example of how print media have had to adapt...

    • Posted October 18, 2012
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  • Shippers Council declares interest on port regulation

    The Nigeria Shippers’ Council has finally thrown its hat in the ring in the on-going contest for the transmutation of an agency under the ministry of transport to be the regulator of players and activities in the...

    • Posted October 18, 2012
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  • KPMG raises concern over increasing fraud cases in companies

    KPMG has expressed concerns over the rising cases of frauds in companies in Nigeria, saying that if measures to curb it are not put in place urgently, it will significantly hurt the companies and also pose a...

    • Posted October 18, 2012
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  • Naira Weakens on Dollar Demand After Inflation Slows

    The naira declined after the country’s inflation slowed to a nine-month low and on speculation importers demanded more dollars for transactions. The currency of Africa’s largest oil producer slipped 0.2 percent to 157.525 per dollar as of 1:48...

    • Posted October 18, 2012
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  • Inflation Falls to 11.3% in September

    The Consumer Price Index fell to 11.3% in September, the lowest this year, as the impact of the fuel increase in January begins to subside. According to a report from the National Bureau of Statistics, “In September...

    • Posted October 18, 2012
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  • Stakeholders Troubled over the Fate of Privatized PHCN Firms

    Troubled Stakeholders have called on the Bureau of Public Enterprises (BPE) and the National Council on Privatisation (NCP) to make sure that bidders who came out as winners of the privatisation process in the power sector are...

    • Posted October 18, 2012
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  • Over Reliance on oil Responsible for Unemployment

    Over reliance on crude oil is said to be the cause of unemployment, poverty, kidnapping, militancy, and terrorism in the country. The declaration was made by the Chief Executive Officer, Koinonia Ventures Limited Femi Boyede, he said,...

    • Posted October 18, 2012
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  • Angola Starts Sovereign Wealth Fund With $5 Billion

      Angola, Africa’s second-biggest oil producer, is starting a sovereign wealth fund with $5 billion in assets to ease the impact of commodity price volatility that prompted an International Monetary Fund loan three years ago. The Fundo Soberano...

    • Posted October 18, 2012
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  • Cocoa Harvest Starts as Rains, Disease Threaten Yield

      Cocoa farmers in Nigeria, the world’s fourth-largest producer of the chocolate ingredient, have started the harvest for the 2012-2013 season with yields threatened by flooding. Many cocoa farms are submerged in water, leading to high humidity...

    • Posted October 18, 2012
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