Businessday Nigeria Archive for May 2010

Sunday, May 30, 2010

Second British Airways strike begins

2011: Opposition vows to wrest power from Saraki

Saturday, May 29, 2010

Total Radar Coverage of Airspace to be completed in June – NAMA boss

One Laptop Per Child's next move: the $100 tablet

Senate approves N11bn salary increase for legislative aides, National Assembly staff

2011 Election: CSOs insist on issues based campaign

Second BA strike looms after talks fail

FG tackles foreign companies over haulage of workers in trailers

FG constitutes inter-ministerial committee on active ageing

FCT Minister approves new salary structure for doctors---averts strike action

Friday, May 28, 2010

Tribunal upholds Gov. Oyinlola’s election

Thursday, May 27, 2010

Customs, APMT trade blame over port congestion

Ike Nwachukwu replaces Dele-Cole as NAHCO Aviance’s chairman

Nigeria’s unemployment rate rises to 10m

AC seeks removal of Iwu’s loyalists from INEC

Jonathan is capable of conducting credible election, says US envoy

New Lagos-Ibadan expressway design awaiting FG’s approval, says Babalakin

Kaduna House confirms Yero as deputy governor

Lohrmann Group to transfer 30,000 bpd refinery to Nigeria

Analysts demand banks’ income streams in financials

Gas price raised to boost investment, power sector

Wednesday, May 26, 2010

Foodstuff, cattle prices to crash as dealers resolve crisis with Lagos government

CBN warns on oil price assumption

Groups laud reversal of Ribadu’s dismissal

Power blue print ready, says Wya

Sambo heads committee on harmonisation of FG, states’ projects

Minister worried over non-participation of Nigerians in UN procurement contracts

NCAA threatens revoking airlines’ AOC over international standard

Phone operators in hot lobby for CBN m-payment licence

Inter-bank rates, collaterised lending crash as FAAC unloads N749.883bn

Egbogah explains 10% dividend programme for oil impacted communities

Facebook privacy settings to be made simpler

Tuesday, May 25, 2010

Governance code for capital market regulators coming

Masari, Nwosu back Jonathan for 2011

FSRCC issues new rules on margin lending

Nigeria may cut Euro holdings in reserves as currency slumps

Wema Bank details recapitalisation plans, to apply for regional licence

FG may review seven-point agenda today

NAICOM approves four insurance firms’ 2009 accounts

Local oil service firms face losses as contracts fail to materialise

Ghana in tacit anti Nigerian business stance

Bill on pension reform passes second reading

North Korea freezes relations with South Korea

British Airways Scraps More Flights; Talks in Limbo

Monday, May 24, 2010

African economy to grow 5.2% in 2011 – OECD, AfDB

Maevis not indebted to FAAN, says Aisuebeogun

NLC, ACE warn Jonathan over contesting 2011 presidential election

CJN urges judges to resist discriminatory judgements

FG summons Polish envoy over death of Nigerian

Jonathan, Ekweremadu’s disagreement stalls naming of new PDP chairman

Committee saves N13bn on Abuja airport runway project

Siemens bribery scam: EFCC grills Bello, PDP acting chairman

FG to revise 2010 budget assumptions

Banks’ 2009 financials delayed as auditors insist on transparency

BA cabin crew begins strike after talks fail

Dangote says no plans to buy Arsenal stake

Sunday, May 23, 2010

CBN denies directing banks not to lend to politically exposed persons

Bayelsa moves to save oil revenue, 2010 budget

Don’t appoint Akunyili INEC chairman, AC tells Jonathan

Anyim, Ozichukwu, Nwachukwu, Ugokwe battle over PDP chairmanship

CBN stares at monetary policy multiple challenges

Total to invest $7b on off-shore exploration in Nigeria

FG set to clear hurdle for smooth privatisation of power sector

Casualties in Air India crash, local official says

Summit to review Nigeria at 50, leadership, governance

POWER GENERATION: WYA tasks companies on time

Friday, May 21, 2010

BA announces record losses

Thursday, May 20, 2010

AC reiterates call to probe mishandling of Yar’Adua’s health

Reps, in rowdy session, vote for multi-party system

Lagos restructures ministries, agencies, elongates career progression

NERC to increase power tariff for bulk consumers in September

True federalism only cure to Nigeria’s problems, says group

$12.4bn oil windfall: FG explores options over prosecution of Babangida

I am a governor for all – Yakowa

Jonathan says investment in education sector not affected by global challenges

Ten reasons why SSA has become the region to invest

New Stock Exchange CEO, EDs to emerge in July

Thailand to prosecute protest leaders

US commends Cameroon and Nigeria on Bakassi

Wednesday, May 19, 2010

Bankole says House will investigate Yerima’s case

Jonathan, Sambo pledge to work together

CBN approves Emefiele as Zenith Bank MD, Oduoza as UBA CEO

Lagos government explains why waste-to-energy project is dragging

NDIC pays N3.3bn to depositors of liquidated banks

Activities paralysed in courts as Lagos magistrates resume strike

Sanusi, CBN governor, gets FG’s endorsement

Siemens bribery scam: EFCC quizzes three former ministers, others

Spike in inflation and exchange rate threat to recovery - analysts

Power blueprint may fall prey to leadership tussle

India's 3G mobile auction raises $15bn

FEC approves N3.6bn for Internet connectivity in schools

Tuesday, May 18, 2010

NCAA summons Aero over fuel surcharge, cash handling charge on tickets

Fashola urged to seek re-election in 2011

NITEL, MTEL workers reject further negotiation over 25 months’ unpaid salary

New submarine cable initiatives may dip fortunes of satellite operators

CBN governor briefs cabinet on economy, reform today

Sambo to be sworn in as vice president today

President Jonathan orders probe into illegal campaign fund

First Bank, S/African set up new mega insurance firm

CBN directs mandatory use of credit bureaux by banks

Banks get more relief as CBN expunges 2% loan loss provision

Thailand government rejects Bangkok protest talks offer

Senate approves nomination of Sambo as Vice President

PenCom chief assures retirees on benefits

Monday, May 17, 2010

VP: Senate may confirm Sambo tomorrow

Anyaoku tasks Jonathan over appointment of INEC chairman, credible election

Opposition parties reject two-party system

FG moves to create 200,000 new jobs via SMEs

BA Nigeria services unaffected by scheduled industrial action

Nigeria, Ghana can help develop West Africa, says Atta-Mills

2011: Jonathan guarantees free, fair elections

Ministry of finance, NNPC fight over NAPIMS

Banking reforms helped economy, Nigeria’s image - Sanusi

FG orders comprehensive probe of NNPC accounts

London airports reopen as volcanic ash disrupts flights

Wounded Thai general dies as chaos continues

Ekiti government to get bank loan to pay salary arrears

Sunday, May 16, 2010

Nigeria’s new president: Stop-gap or long-term leader?

FG inaugurates negotiating committee on workers’ salary today

FAAC meeting ends in stalemate as states reject April allocation

FG says FID on Brass LNG realisable this year

Airline operators seek relocation of West Coast operations from MMIA

PIB: Minister to sign approval for first 26 priority regulations

Regulators intervene in Virgin Nigeria, GTB, UBA crisis

Why Nigeria’s reserves is not following oil price trend

Electricity workers suspend planned strike

UK and Ireland shut some airspace due to ash cloud

Saturday, May 15, 2010

Minimum wage committee concluding report -- Minister

Respect court decision on Igbeke, CNPP tells Senate

I resigned to face corruption charges---Ogbulafor

Friday, May 14, 2010

Minister urges families to uphold Spirit of communal responsibility

Chaos, violence grips Thai capital

Thursday, May 13, 2010

Pipeline damage: Mobil to lose $12m as crude production is disrupted

Weak NERC, sloppy distribution firms, delayed reforms may scuttle power supply

NNPC, Chinese firm sign $28.5bn refinery deal

VP seat: Factors that worked for Sambo

Investigators in Libya to scour site of crashed plane

Jonathan commends Armed Forces for defending constitution

Ibori and the burden of charges

Ogbulafor resigns as PDP chairman

Liquidity dips on massive CBN, NNPC withdrawals

EFCC seeks Ibori’s extradition from Dubai

Jonathan to relaunch efforts to rehabilitate ex-militants

British Airways outlines strike plan

Jonathanto relaunch efforts to rehabilitate ex-militants

Jonathan to relaunch efforts to rehabilitate ex-rebels

Nigerian Vice President nominee Namadi Sambo

Britain seeks extradition of Ibori from Dubai

Ibori Arrested in Dubai

Wednesday, May 12, 2010

El-Rufai arraigned, remanded in EFCC custody until he meets bail conditions

Kano Free Zone investments hit N6.6bn

I won’t resign, Ogbulafor insists

Appeal Court floors Emodi again, orders Senate to swear in Igbeke

2011: Jonathan will run for president – Aide

Buhari says Obasanjo’s tenure was a failure

Senate stops funding of political parties

Oando records 73% increase in Q1 net profit

Boy survives,103 killed as Libyan jet crashes

Nigerian stocks adjudged global investors’ toast

El-Rufai arraigned, granted bail

El-Rufai pleads not guilty to corruption

Libya plane crash kills 103, Dutch boy survives

Jonathan likely to run for president -aide

Tuesday, May 11, 2010

Mark says FG owes nation explanation over Yar’Adua’s death

Northern senators endorse Makarfi for VP slot as Kanti Bello protests

FG committed to Vision 20-2020, says Jonathan

CBN’s directive on off-site ATMs dips banks’ fortunes

Benue Cement Company records N14.4bn profit

New reporting standard to eliminate tax burden on insurance premium

Explosion rocks NDDC Warri office

Business Day makes Diageo 2010 Media of the Year Award shortlist

Britain’s David Cameron becomes PM, Brown out

CBN retains 6% rate, absolves self of blame for credit crunch

Brown resigns as British PM, Cameron to take over

Hung parliament: It's decision time, says Cameron

Monday, May 10, 2010

NBA urges Jonathan to implement Uwais report

UBA: Our Africa expansion is our future jewel, says Elumelu

FG to evaluate complaints of oil and gas industry stakeholders

North-West Reps lay claim to vice president slot

Court slams N5m bail on Ogbulafor, 3 others

IBB wants free hand for Jonathan to pick his deputy

PIB: Litigation threat forces FG to review bill

Analysts point way to world-class capital market, economic growth for Nigeria

Oil talks stall between Nigeria, China - FG

IOCs hold back $24 billion in fresh investment


Volcanic ash cloud disrupts flights

4 weeks of strikes to hit British Airways

UK's Brown to quit in bid to keep Labour in power

Nigerian winners of British parliamentary seats hailed

Sunday, May 09, 2010

Jonathan may name vice president Tuesday

Uneasy calm in Bayelsa after week of insecurity

Fashola tasks Jonathan on Yar’Adua’s seven-point agenda

2011: ‘Opportunists are after Babangida’s money’

N/Delta militants threaten fresh attacks, ask Jonathan to address demands in ‘weeks’

CBN faces challenge stimulating credit

Nigerian interbank rates end stable on excess cash

SEC may revoke 100 stockbroking licenses over breach of rules

Stakeholders list path to economic prosperity for Jonathan

UK political rivals meet to resolve election deadlock

Saturday, May 08, 2010

Asset Management Corporation takes off with N20bn share capital

PENCOM begins verification of retirees for 2010, 2011 in July

Governors condole with Jonathan over Yar'Adua

Election 2010: Nick Clegg to deliberate over Tory deal

Court Orders Bode George to Remain In Prison

Friday, May 07, 2010

UK elections: What is a hung parliament?

Cameron: Labour has lost its mandate to govern

Thursday, May 06, 2010

Mimiko to flag off economic recovery initiative

AC, Mark hail smooth succession in Presidency

Labour tasks Oshiomhole on revival of state’s ailing industries

Who becomes vice president?

Analysts urge Jonathan to support banking reforms

Change of guards imminent at NASB

Nigeria pipeline fire forces Shell oil output cut

Nedbank mulls Nigeria, upbeat on Zimbabwe

States seek to secure early sale of PHCN assets to boost power

Yuguda, Gusau, others in contention for VP as Jonathan takes over

Yar’Adua is laid to rest

Funeral Prayers Held For Yar’Adua

NTA rating scales up

Yar'Aduas' body arrives Katsina for burial

Jonathan sworn in as President

Yar'Adua's remains to be buried in Katsina at 2 pm

Yar'Adua: Nigerian flag at half mast at Nigeria House in New York

Yar’Adua: Obama condoles with Nigeria‏

Yar'Adua: Nigerians in U.S mourn, eulogise late president

Wednesday, May 05, 2010

FG woos foreign investors for new gas projects

NAICOM abolishes holding of chairman, CEO positions by an individual

Tribunal upholds Oni’s election as Ekiti governor

Africa is third most attractive investment destination

Fear grips passengers as financial crisis hits airlines harder

CBN says N200bn fund will sustain agric economy

FG drops charges against Ribadu

NSE suspends four dealing members - official source

$12.4bn scam: 10 groups access original copy of Okigbo Report on Babangida

Banks set to resume lending as Senate gives nod to AMC

Ribadu: Tribunal strikes out case


Agency to spend $192m on anti-polio campaign

Three dead as Greek strike grows violent

Brown gets poll lift on final day of campaign

Tuesday, May 04, 2010

Mark faults Gusua’s comments on CBN reforms

Senate passes FCT budget of N362.3bn

Ekiti judgement: Police deploy 6,000 policemen from 5 states

Former governors want two-party, modified open ballot systems

Key political risks to watch in Nigeria

EU says Nigeria’s regulatory environment obstacle to investors

Shell says it almost lost 14,000 tons of oil in Nigeria

Brown ‘will take responsibility’ for loss as Britons go to polls tomorrow

FG promises transparent 2010 oil licensing round

Tiff with Mobil seen as threat to Nigeria's credibility

NY bomb plot will not terrorise Americans, says Obama

N104m scam: Judicial workers’ strike stalls Ogbulafor’s trial

Times Square bomb suspect arrested in New York

Euro, Stocks Drop on Debt-Contagion Concern; Commodities Slump

Judicial workers’ strike stalls Ogbulafor’s arraignment

Monday, May 03, 2010

Jos crisis: France donates N5m food items to displaced families

Panic as car explodes in Yenagoa

NUJ protests increasing killings of journalists

Ekweremadu asks workers to shelve planned strike action

Ekiti tribunal fixes judgement on re-run poll for Wednesday

Institute of Taxation endorses VAT increment

Microfinance Banks:Association wants self-regulatory framework, ethics code

EFCC to quiz El-Rufai today

Gazprom refutes allegations it wants to scuttle trans-Saharan gas project

Local interest in bailed out banks dwindles

Car bomb rocks Yenagoa

Shell set to increase output to 650 MW

Sunday, May 02, 2010

FG loses N19.5bn yearly over non-implementation of policy on cassava

Rivers worries over Arik Air’s security report on Port Harcourt airport

Yesterday’s men and the struggle for survival

First Bank to form group holding company

Nigeria-Cameroon Commission discovers 300km land belonging to Cross River

Senate urges cancellation of N64bn Abuja runway contract

Share-backed loans get reprieve from positive equity market performance

A minister in a hurry

FG to jerk up Nitel's $644 million benchmark

Analysts say banks’ improved disclosures must be verifiable

New minimum wage to be announced in 3 months -- Acting President

Saturday, May 01, 2010

Mixed reactions trail Iwu’s removal

New Fince Minister Unveils Three-Point Agenda