Latest News

• 
  NCAA Panel to Decide on BA, Virgin Atlantic $235 Million Fine within Two Weeks

  The Director General of the Nigerian Civil Aviation Authority (NCAA), Harold Demuren has disclosed to pressmen that the panel sitting to deliberate on the $ 235 million fine levied on British Airways ($135m) and Virgin Atlantic ($100m)...

  • Posted January 27, 2012
  • 0
• 
  Nnaji Reveals more details on Power Sector Transformation Process

  According to the Minister of Power, Prof Barth Nnaji, the Power Holding Company of Nigeria (PHCN) is yet to be liquidated. Contrary to popular belief that the PHCN was liquidated on December 31st, 2011, the minister disclosed...

  • Posted January 27, 2012
  • 0
• 
  Sanusi sends Mixed Signals ahead MPC’s Rate Decision

  Mallam Lamido Sanusi, the Governor of the Central Bank of Nigeria has sent mixed signals as regards the decision of the Monetary Policy Committee (MPC) set to meet on Monday. Analysts are uncertain as to whether the...

  • Posted January 27, 2012
  • 0
• 
  Nigerian Stock Exchange Watch: ASI Reverses Losses, Switches to Drive Mode

  The Nigerian Stock Exchange has switched to drive mode, reversing on losses as it closed in the green after today’s session. The All Share Index gained 13 points today to close at 20,625.56, bringing the weekly performance...

  • Posted January 26, 2012
  • 0
• 
  Corruption scandal shakes Vatican as internal letters leaked

  The Vatican was shaken by a corruption scandal Thursday after an Italian television investigation said a former top official had been transferred against his will after complaining about irregularities in awarding contracts. The show “The Untouchables” on...

  • Posted January 26, 2012
  • 1
• 
  BPE Shortlists 15 Indian Companies to Participate in PHCN Privatization

  According to the Economic Times of India, 15 Indian firms have been shortlisted by the Bureau of Public Enterprises (BPE) to purchase the successor companies of the Power Holding Company of Nigeria (PHCN). The successor companies will...

  • Posted January 26, 2012
  • 3
• 
  Visafone spends Billions to Upgrade Network ahead of CBN Cashless Policy, Plans Blackberry Services

  According to the CEO of Visafone Communications Ltd, Sailesh Iyer, the company is spending billions to upgrade its network in order to cope with the increase of data transmissions in the country. The CEO of Visafone stated...

  • Posted January 26, 2012
  • 0
• 
  Oando CEO, Tinubu sets Record Straight on Subsidy

  CEO of Nigeria’s largest indigenous Oil and Gas company, Mr. Wale Tinubu appeared before the ad-hoc committee investigating subsidy yesterday. Mr. Tinubu setting the record straight disclosed that Oando was not a beneficiary of subsidy but a...

  • Posted January 26, 2012
  • 2
• 
  Naira Rises to 5 week High

  Nigeria’s naira appreciated for the second day against the dollar, strengthening to a five-week high, on sales from oil companies after the central bank auctioned the U.S. currency today. The currency of Africa’s biggest oil producer advanced 0.7...

  • Posted January 26, 2012
  • 0
• 
  Sanusi Lectures London School of Economics, Decries Infrastructure Financing Deficit

  Mallam Lamido Sanusi was the guest speaker at the London School of Economics at the annual Sir Patrick Gillam Lecture Series on Monday. The CBN governor delivered a lecture entitled, “The Global Crisis and the Nigerian Economy:...

  • Posted January 26, 2012
  • 2
• 
  Nigerian Stock Exchange Watch: After Consecutive Decline, Market Breathes Sigh of Relief

  The Nigerian Stock Exchange breathed a sigh of relief in the session today, coming up for air after drowning into decline for over a week. The All Share Index gained 13 points today to close at 20,625.56,...

  • Posted January 25, 2012
  • 0
• 
  Creating Jobs In Nigeria

  Driving around Lagos on a normal weekday always makes my blood pressure rise a little. I keep asking myself what all these people are doing on the streets. They all look very busy and focused but if...

  • Posted January 25, 2012
  • 3
• 
  Credit Card Scam: Adekunle Adetiloye, Canadian Man, Sentenced To 18 Years For Massive Bank Theft

  THE ASSOCIATED PRESS — FARGO, N.D. – A Canadian man accused of masterminding one of the largest high-tech bank robberies in U.S. history was sentenced to nearly 18 years in prison Monday following a years-long investigation into...

  • Posted January 25, 2012
  • 0
• 
  NLNG, NNPC Seek $ 4 Billion in International Debt Financing

  The Nigerian Liquefied Natural Gas (NLNG) and the Nigerian National Petroleum Corporation (NNPC) are seeking international debt financing to finance part of their operations in 2012. NLNG is seeking over $ 1 billion to finance the acquisition of new...

  • Posted January 25, 2012
  • 2