Businessday Nigeria Archive for April 2010

Wednesday, April 28, 2010

FG moves to boost power supply, inaugurates hydro-power committee

Lagos Assembly says allegations against Fashola will be dropped if found to be frivolous

My plans to turn Virgin Nigeria around, by Jimoh Ibrahim

Banks embrace credit bureau services

PDP may lift suspension on Nnamani, Masari, others

Court refuses to hear EFCC’s appeal against Ibori, five others

FG resolves face-off with Lagos over Badagry road project

How appropriate tariff can boost domestic rice production - NESG

SEC new rule stipulates underwriting commitment for equity offerings

Jonathan kicks off electoral reform with Iwu’s disengagement

Jonathan sacks Iwu

Tuesday, April 27, 2010

NIMASA begins disbursement of N29bn cabotage fund soon – Omatseye

Why I returned to PDP, by Atiku

‘Abdulmutallab, plane bomb suspect was at militant camp’

Banks ‘repay’ loyal customers with new hidden charges

Court strikes out suit against Ribadu

PDP passes vote of confidence on Jonathan, Ogbulafor

NCC to introduce phone tariff cap

Mixed reactions greet redeployment of NNPC, DPR top shots

Court, in late ruling, clears path for PDP NEC meeting

CBN reform targets reduction of banks’ high operating cost

Monday, April 26, 2010

CBN denies stopping banks from using share certificates as collaterals

IBB, Buhari should give youths a chance, says Okunu

‘Oil fiscal policy, excess crude account saved Nigeria from financial crisis’

Nigeria needs clear policy on excess crude account – IMF

Without reform, PDP can’t win 2011 elections, says Rochas Okorocha

NNPC boss pledges to involve indigenous ship owners in crude oil lifting

Fashola calls for closer economic tie between Nigeria, Germany

Aero seeks FG's assistance to halt grounding over $200 million debt to Oceanic Bank

SEC orders Stock Exchange to appoint new DG by June

N750bn gas project in danger as Korean firms withdraw interest

Jonathan thanks God for Nigeria as Aso Villa Chapel clocks 10

EFCC to involve Interpol in bid to arrest Ibori

Crude oil exports to hit above 2-year high

BPE compromised Nitel sale process, says FG panel

Aero may be grounded over bank's desperate recovery of credit for aircraft purchase

Owners of Virgin Nigeria make $20 million loss

Uwais report: CNPP calls for mass action

Don’t behave like the military, IBB tells PDP members

Umaru, how - and where - are you?

NCC allows telephone operators to register SIMs, exercise kicks off May 1

Saturday, April 24, 2010

JAMB releases UTME results for 1.2 million candidates

OGBULAFOR, 4 OTHERS TO BE ARRAIGNED FOR ALLEGED N104 Million FRAUD

Thursday, April 22, 2010

Oil reform bill to resolve funding issues

FG begins further divestment from Transcorp

Fashola assures on implementing Lagos summit recommendations

CBN defends banking reform, says it has saved the economy

Jonathan signs oil and gas local content bill into law

Skye Bank records gross earnings of N126.67bn

US shifts focus to individuals in terrorists’ classification

PDP set to implode, suspends Masari, Nnamani, Wabara, 15 others

CBN policy measures impacting positively on economy, say analysts

Four firms get FG’s license to drill for gas

Wednesday, April 21, 2010

Senate divided over Emordi

Oando rights issue records 128% subscription

Jonathan signs 2010 budget today

FirstBank pushes Q1 profit by 62%

Major policy pronouncements on micro finance banks coming mid-year

Senate confirms 2 more ministerial nominees

Arik Air, Virgin Atlantic resumes flights from Nigeria

Jonathan gives power council 30 days to produce blue print

Analysts list conditions for Nigeria’s inclusion in global growth forecast by IMF

Foreign investors back out of acquisition of bailed out banks

Tuesday, April 20, 2010

BA, Air France-KLM, others resume flight operations from Nigeria

Jonathan sends names of two ministerial nominees to Senate

Ex-Siemens’ chiefs found guilty in Nigeria bribery case

FG, stakeholders meet over fresh power blue print

Mixed reactions as FirstBank declares 10k dividend, 1 for 8 bonus

Senators reject $500m Chinese loan for Abuja rail project

Police top operatives mobilize to arrest Ibori

Investors opt for fund managers to hedge against loss

Jonathan wants passage of money crimes bills to allay foreign investors’ fears

FG to establish sovereign wealth fund in three months

Sunday, April 18, 2010

2011: PDP may use probation period to bar Atiku

Customs deploys air surveillance to curb rice smuggling

CITN asks Nigerians to reject illegal taxes

Court restrains FG from selling off NITEL assets in Rivers, Bayelsa

Fuel scarcity looms as NUPENG mobilises for strike

EU says half of normal flights may run today

Categorisation of banks by CBN may impair NDIC’s earnings

CBN concerned over imminent high commodity prices

Gusau faults anti-corruption war, banking reforms, legal system

Fears volcano chaos will push into mid-week

Saturday, April 17, 2010

FCT minister probes Moddibo, Aliero administrations

Friday, April 16, 2010

Flight disruptions in Europe get even worse

Thursday, April 15, 2010

AC faults Jonathan over statement on INEC

FG to establish Diaspora commission

Africans worried about future religious conflict

FG promises to ease textile trade barriers

10,000 new jobs: Imo indigenes fault N2, 000 scratch card for application

Over 86 percent Nigerians earn less than $2 daily - report

NNPC adopts eight-month timeline for contract awards

Volcanic ash forces cancellation of Virgin Atlantic, BA, Arik flights to UK

Nigeria gets positive response from Jonathan’s US visit

Travel chaos as ash closes air space

Wednesday, April 14, 2010

Reps probe alleged mismanagement of N200bn agric loan

Ribadu downplays reports of a new government appointment

Shell suspends production of 100,000 bpd oil

I didn’t oppose Atiku’s return to PDP, says Nyako

Ogbulafor asked to save job, mend fence with aggrieved PDP members

Jonathan confers with UN secretary-general on political situation in Nigeria

Gunmen kidnap Akpabio’s chief driver, kill security aide

Come out of hiding, EFCC tells Ibori

Investors target stocks with robust cash flow, low bank credit

Law allows me, IBB, others to contest presidency - Jonathan

Tuesday, April 13, 2010

LCCI laments credit squeeze has taken toll on businesses

Senate reaffirms support for Jonathan, denies move to impeach Yar’Adua

AC asks FG to stop attacks, killings in Jos

Ogbulafor fingers Nnamani, Wabara, Masari, Na’Abba, others as plotting his sack

Babangida lists conditions for political stability

Obama presses world to lock down nuclear materials

Jonathan to constitute economic team next week

Proposed universal banking unsettles microfinance banks

EFCC declares Ibori wanted over N44bn fraud

Nigeria seeks World Bank assistance on power, Niger Delta

Monday, April 12, 2010

Oando gains 5% at NSE as board declares 1 for 2 bonus

US tasks Nigeria, others on terrorist acts

AC lawmakers in Lagos Assembly criticise Atiku’s purported return to PDP

2011: Potential presidential candidates

Commuters stranded in Lagos as drivers protest LASTMA, police harassment

Ladan, new NNPC boss, unfolds 4-point agenda

NBA-Supreme Court rift nearly mars new SANs’ swearing in

Nigeria critical to development, stability in Africa – Obama

Economy on the bounce again, figures show

Jonathan promises major shake-up in INEC

Sunday, April 11, 2010

FG may effect changes in Petroleum Industry Bill

We produce world class mariners at MAN, says rector

NBS makes government act in the dark – Okonjo-Iweala

Insurance records drop in outstanding premium over new regulation

Complainant receives delayed tax clearance on the orders of LIRS boss

South South group lauds Jonathan over power sector reform

Security operatives stop Aondoakaa from traveling, seize his passport

Jonathan meets World Bank president today

Senators demand NNPC revenue profile from 2007 till date

CBN proposes N100 billion maximum capital base for banks

Saturday, April 10, 2010

World leaders pay tribute to Polish leader

Jonathan’s trip to US ill-timed says Na’Aba

Senators demand revenue profile of NNPC ---Barkindo may be summoned

11,000 Policemen Deployed to Area Councils election - FCT Police Commissioner

IBB DECLARES INTEREST TO CONTEST 2011 PRESIDENTIAL ELECTION

Friday, April 09, 2010

FG Terminates N64bn Abuja Runway Contract

Thursday, April 08, 2010

Minister directs heads of parastatals to submit six months’ programme

Maritime unions begin mobilisation for strike

Aviation minister halts airline operators’ strike

Why Babangida’s 2011 aspiration may fail

Naira falls in inter-bank market

Lagos dismisses 87 LASTMA officials

Nigeria may be heading for one-party state

Allison-Madueke faces short, hard tenure

FG assures of radical improvement in power supply

Okonjo-Iweala cautions on Nigeria's fiscal, debt profile

Wednesday, April 07, 2010

55 political associates approve Atiku’s return to PDP

Halliburton scandal not swept under carpet –EFCC

Declare Yar’Adua incapacitated, AC tells new ministers

Absence of bankruptcy laws impeding business growth – CBN

Lagos slams banks over increasing ATM frauds

US, Nigeria to parley on strengthening aviation security

IFC to invest $100m to boost infrastructure in sub-Saharan Africa

Jonathan warns new ministers against financial misconduct

BPP, FAAN, others fail to justify N64bn runway contract

Corporate bond market rides on back of lending freeze, reforms

Tuesday, April 06, 2010

Ribadu ready to return home, rejects police, EFCC jobs

Abuja airport runway: Omotoba, Aisuebeogun, Iyal testify at hearing today

Jonathan under pressure to sack Anyanwu, BPE boss

GTBank records 21% drop in pre-tax profit

Rimi: TUC expresses concern over porous security system

Mixed reactions greet new cabinet

Iwu is obstacle to electoral reform, says Soyinka

New ministers with their potfolios

Perform or get sacked, Jonathan warns new minister

Jonathan sacks NNPC MD, appoints Ladan Shehu

Monday, April 05, 2010

Jonathan orders Onovo to investigate Rimi’s death

Civil societies ask FG to declare airlines’ proposed strike economic sabotage

Obasanjo, Danjuma shun each other at Lagos airport

APGA urges Senate to adopt Uwais’ committee report

Shocker awaits new ministers today over portfolio allocation

Rimi: Circumstances of death unacceptable, says labour

Govts say UBE implementation effective; teachers, parents speak

Maurice Iwu must go - U.S.

Oando’s rights issue breaks recession barriers, signposting market resurgence

Foreign banks await 2009 results to decide on new credit lines

Jonathan directs Onovo to investigate Rimi's death

Acting president mourns Abubakar Rimi

Sunday, April 04, 2010

New technology eliminates merger barriers of CDMA, GSM networks

NIMASA DG says vessel replacement key to Cabotage success

Nigerian inter-bank rates stay low on excess cash

2011: PDP governors move to checkmate Jonathan

New cabinet: Signs of life, surprisingly brisk presidential broom

Fresh moves to fire Ibom Power Plant gather momentum

Why we remain focused on critical infrastructure, by Lagos commissioner

Uncertainty over shape of cabinet clouds investment outlook

Business leaders hopeful on anti-graft war as Ribadu may return

Analysts set agenda for Jonathan as he visits United States

Saturday, April 03, 2010

EFCC’s Arrests of Officials; Gov Sylva Absolves Acting President

Retired civil servant takes shelter under tree after eviction

Sen. Peto dies

Thursday, April 01, 2010

Convicted persons can’t contest 2011 elections – Reps

Jos crisis suspects arraigned, remanded in police custody

Atiku loyalists in AC open talks on party’s future

Nigeria’s upward momentum continues, by Rencap

FG probes Calabar airport accident

Bello is acting NCC chief

Why there is large inventory of unsold goods - manufacturers

CBN’s June deadline for repayment of N620bn bail out loan spurs merger talks

Nigeria beats BRICs as asset manager expects frontier rally

Oil prices rise but economy still down, mass retrenchment looms

Wednesday, March 31, 2010

Elakama stuns brokers, says there was crisis in NSE

Uwais report is only basis for democracy, say national honours awardees

Labour threatens nationwide strike if Iwu is re-appointed INEC chairman

Maritime workers threaten to shut down ports

Bharti shares up on Zain but execution a challenge

Lagos transport contingent departs for UK

Analysts doubt success claims of rescued bank chiefs

Stock market reacts as UBA declares 46% rise in gross income

Aganga, Goldman Sach's MD, points way to economic growth

Rescued banks: Analysts doubtful of turnaround managers’ performance