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  • CBN Halts Currency Auctions for 2011 as Naira free falls

    The naira headed for its weakest in about 10 weeks as dollar demand shot up on bets the Nigerian currency may further decline with the end of central bank auctions for the year. The currency of Africa’s biggest...

    • Posted December 21, 2011
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  • Shell spills 40,000 barrels of oil in Nigerian coast

    Royal Dutch Shell is shutting down its huge 200,000 barrels per day (bpd) Bonga oilfield off the Nigerian coast after a leak occurred while loading a tanker on Tuesday, the firm said in a statement. The Anglo-Dutch...

    • Posted December 21, 2011
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  • Amazon weighed buying RIM but interest cooled

    Research In Motion Ltd has turned down takeover overtures from Amazon.com Inc and other potential buyers because the BlackBerry maker prefers to fix its problems on its own, according to people with knowledge of the situation. Amazon...

    • Posted December 21, 2011
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  • Nigeria LNG Limited appoints Babs Jolayemi Omotowa as MD

    Nigeria LNG Limited has appointed Mr Babs Jolayemi Omotowa as its new managing director. He will replace Mr Jonathan Ibeneche, who will retire on January 31, 2012, after three years in the saddle. Omotowa, according to a statement from...

    • Posted December 21, 2011
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  • FG will diversify economy before oil well dries up – President Jonathan

    Ahead of the prediction by oil experts that Nigeria’s oil well reserve might dry up within the next 35 to 45 years, President Goodluck Jonathan yesterday in Ewekoro, Ogun State said his administration was committed to diversifying...

    • Posted December 21, 2011
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  • BPE Probe: Senate cancels sale of Daily Times and eight others

    THE Senate yesterday rescinded the sale of Daily Times Nigeria plc, the Aluminium Smelter Company of Nigeria ALSCON, Transcorp Hilton Hotel, and six other public enterprises formerly owned by the Federal Government. This followed the Senate’s approval...

    • Posted December 21, 2011
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  • Stock Market Watch: ASI gains as Dangote subsidiaries take the lead

    The Nigerian stock market appreciated for the 3rd consecutive day, as the All Share Index gained 39 points to close at 20,122.80. All the Dangote subsidiaries were in the green after trading today, except Dangote Cement which...

    • Posted December 20, 2011
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  • Earnings Forecast: Oando, Studio Press & 7Up forecast Q1, 2012

    Several quoted companies released their earnings forecast on the Nigerian Stock Exchange today. They include: Company Revenue/Gross Premium Net Income Period Oando Plc N 141.83 Billion N 2.97 Million Q1 2012 (March) 7Up N 17.5 Billion N...

    • Posted December 20, 2011
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  • 2012 Budget: Presidency to Spend Naira 1 Billion on Food Subsidy

    Taxpayers will spend a fortune feeding the president and his deputy next year The Federal Government plans to spend approximately N1 billion in feeding its first and second citizens next year if the National Assembly approves President...

    • Posted December 20, 2011
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  • Europe Economic Shock: Nigeria may be on the receiving end – IMF Chief

    Managing Director of International Monetary Fund (IMF) Christine Lagarde yesterday warned the Federal Government that Nigeria may be on the receiving end of the economic shock from Europe because of the volume of her trade all over...

    • Posted December 20, 2011
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  • Africa’s Future: Responding to Today’s Global Economic Challenges (IMF Boss Speech)

    The following is full text of the speech delivered by the Managing Director of the IMF, Christine Lagarde at a Rountable Discussion with stakeholders at the Eko Hotel this morning.   Good morning. It is a privilege...

    • Posted December 20, 2011
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  • IMF Boss Cautions Nigeria on Impending EuroZone Recession

    Managing Director of the International Monetary Fund (IMF), Christine Lagarde has called on developing economies like Nigeria to build a firewall against the financial crisis in developed countries, specifically in Europe. Speaking at the Eko Hotel and...

    • Posted December 20, 2011
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  • Akwa Ibom Hints Of Upcoming $ 1 Billion Bond Issuance

    Akwa Ibom State Governor Godswill  Akpabio has said the state would raise  over N150 billion from the capital market through bond with a viewing to financing the industrial development of the state in the coming year. Akpabio,...

    • Posted December 20, 2011
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  • Mobile Money: GTBank Partners MTN

    GTBank has entered into a partnership with MTN Nigeria to promote financial inclusiveness, with the launch of Mobile Money, targeted at the unbanked population of the county. Statistics reveals that 75 percent of adult Nigerians are either...

    • Posted December 20, 2011
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