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  • Canada Condemns Attack on Deeper Life Church

    OTTAWA, Canada, August 8, 2012/African Press Organization (APO)/ –Foreign Affairs Minister John Baird today issued the following statement: “I am deeply saddened by the cowardly murder by gunmen of parishioners who were gathered in worship at a church...

    • Posted August 8, 2012
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  • Q2, 2012 Earnings: ConOil Net Income Slumps by 81%

    ConOil, an indigenous petroleum marketing company, released its q2, 2012 to the Nigerian Stock Exchange on Monday. Turnover fell by 4.6% to N 76.2 billion, from N 79.9 billion recorded in Q2, 2011. Gross Profit dipped 18.4%...

    • Posted August 8, 2012
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  • Gold Snaps Three-Day Advance As Dollar’s Strength Damps Demand

    Gold dropped for the first time in four days as the metal’s advance to a one-week high encouraged sales and as the dollar’s strength sapped demand for bullion as an alternative investment. Silver declined. Spot gold lost...

    • Posted August 8, 2012
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  • Clearing Cheques Now Takes Two Days in Lagos

    Cheque Truncation is to take two days in Lagos. Truncation refers to the conversion of physical cheque into electronic form (i.e. scanned image) for transmission to the paying bank. The processing time which used to be T+2...

    • Posted August 8, 2012
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  • CBN Mandates Whistle-Blowing and Reviews Corporate Governance Code

    In an attempt to improve corporate governance within the Nigerian Banking industry, the Central Bank of Nigeria is reviewing the existing codes of corporate governance and has developed guidelines for whistle-blowing which all financial institutions under the Central Bank’s supervision...

    • Posted August 8, 2012
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  • Power Supply Hits Record 4327 MegaWatts

    The Federal Minister of Power, Barth Nnaji, has faced a lot of criticism as he is in charge of one of the most sensitive portfolio’s in President Jonathan’s cabinet. However Nnaji announced yesterday that Nigeria is currently...

    • Posted August 8, 2012
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  • Oil At Two-Month High As Equities Gain, Dollar Declines

    Oil rose to the highest level in more than two months after better-than-estimated corporate earnings bolstered optimism that economic growth will accelerate. Futures climbed as much as 2.4 percent as equities gained, led by commodity and industrial...

    • Posted August 7, 2012
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  • Has Standard Chartered Bank gone Rogue?

    Standard Chartered bank illegally “schemed” with Iran to launder as much as $250bn (£161bn) for nearly a decade, a US regulator says. The New York State Department of Financial Services said that the bank hid 60,000 secret transactions...

    • Posted August 7, 2012
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  • N-11’s, MISTs and BRICs: How Emerging Economies Are Winnning

    Jim O’Neill is a man of great foresight. When he was the head of Global Macroeconomic Research at Goldman Sachs, he developed some of the most important acronyms known to the world of economics. The most important...

    • Posted August 7, 2012
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  • Reps Vow not To Pass PIB in Present Form, Cite Oil Minister as Cause for Concern

    The Representatives are adamant on not passing the Petroleum Industry Bill in its present form. According to interviews conducted by Reuters, the lawmakers cite several reasons for refusing to pass the PIB in its current form. One...

    • Posted August 7, 2012
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  • First Bank Gets Go-ahead to restructure

    First Bank said last week it had won regulatory approval to transfer its subsidiaries into a newly-formed holding company, in line with regulatory requirements to separate core lending from other businesses. The central bank two years ago...

    • Posted August 7, 2012
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  • FG Promotes Investment Opportunities with Brazilian Investors

    The Federal Government has highlighted the investment opportunities to Brazilian investors who recently paid a visit to the Minister of Trade and investment, Dr. Olusegun Aganga. The Brazilian company Queiroz Galvao is a multi-billion dollar company with interests...

    • Posted August 7, 2012
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  • Business Leaders to Converge on Porsche Centre for Awards

    Airtel Nigeria in conjunction with Forbes Africa and CNBC will be hosting this year’s All Africa Business Leaders’ Awards. The awards are a platform to give recognition to business leaders creating a culture of entrepreneurship, developing best practices,...

    • Posted August 7, 2012
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  • AMCON Appoints RenCap and Citi Bank as Advisers for Bridged Banks

    The Asset Management Corporation of Nigeria (AMCON) has appointed Renaissance Capital and CitiBank to act as advisers in the sale of the bridged banks rescued by the government agency. The three bridged banks are former Bank PHB,...

    • Posted August 7, 2012
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