Businessday Nigeria Archive for August 2010

Friday, August 27, 2010

Intel warns of revenue shortfall on weak PC demand

Canadian, Indian, Irish firms bid to run Nigeria grid

Thursday, August 26, 2010

Orubebe, Mohammed to resign as ministers for Jonathan’s campaigns

Nigeria @ 50: FG to redesign N50 note, coins

Facts about reform plans for domestic power sector

EFCC vows to stop corrupt politicians contesting 2011 elections

ASUU wants law to back up retirement age for lecturers

Nigerians count losses, as PHCN workers return to work

Bonny Light crude output restarted

NSE sacks three GMs, 92 workers

Stakeholders worry over absence of council to oversee BPP operations

Nigeria needs power revolution, says Jonathan

UN calls for urgent action over mass DR Congo rape

FG invests $12bn in energy, transportation sector

Nigeria to privatise power firm PHCN

U.S. Stocks Drop on Concern Over Spain, Manufacturing Slowdown

Nigeria warns of nation-wide cholera threat

PHCN workers end strike …Abuja residents count losses

Wednesday, August 25, 2010

PHCN workers embark on strike over monetisation arrears

Jonathan 2011 ambition has several implications, says Kukah

Naira heads toward N150/$ budget target, berths at N149.06/$

Soboma George: No one should take laws into his hands, says Rivers police chief

Angry women shut Shell oil flow-station

2011: PDP governors dump Saraki, root for Jonathan

LASG warns communities of imminent dangers

Soboma killing sparks fears of poll unrest

Foreign firms eye microfinance sector on back of reforms

N32trn projected in 1st phase of new national development plan

Police confirm Soboma George killed in gun battle

English FA invites Nigeria's U-13, U-15 teams to 2011 tournament

Oil rebounds above $72 on inventory drop

Ondo Govt secures N1bn agric loan --- Mimiko

12 countries send in entries’ lists for 1st U-23 ECOWAS Games

Tuesday, August 24, 2010

Amnesty International challenges UN data on Niger Delta oil spills

2011: PDP governors no threat to Jonathan’s ambition, says Abba-Aji

Votes must count in 2011 elections, NLC warns politicians, INEC

Jonathan backs SEC’s ongoing reforms

Sambo receives report on NITEL/MTEL restructuring

BusinessDay’s conference to set agenda in power sector

Category one: Our focus now is to fix airports’ infrastructure – NCAA

CBN issues guidelines on N300bn aviation, power intervention fund

World Bank commits $800m to power sector reforms

Foreign fund managers spot gold in Nigeria, others

Tankers allegedly laden with adulterated fuel under watch


Jigawa Govt. donates 70 tonnes of grains to flood victims

Somali militants storm hotel, 31 reported dead

US grants Nigeria Category One Certification

Monday, August 23, 2010

Vision 2020: Shamsudeen reassures on double digit growth target

Product adulteration: NUPENG insists police must produce culprits

2011: Jonathan seeks NBA’s assistance in conducting free, fair elections

ACN asks Jonathan to address poor living conditions of Nigerians

NSE demutualisation back on track, says SEC

Steady electricity supply reduces operational cost of firms, families

Jos crisis: Committee submits report, recommends stiff penalty for offenders

CBN targets 15% growth in banks' assets to fund AMCON's N1.5trn

FG moves to implement power reforms, to sell 11 firms

FCTA scraps London Taxis Scheme

HP Offers $1.6 Billion for Storage Maker 3Par, Topping Dell Bid

Ekiti to repeal law establishing state-owned education varsity

FG terminates N600m water contract at Onitsha

Ekiti spends N1.7b on MDG health intervention projects -- Commissioner

Sunday, August 22, 2010

Inter-bank rates fall on budgetary allocations’ release

Stakeholders seek to lift economy, meet in London to resolve gas, power crises

Ghana anchors on WAGP to push power output to 1,830mw

FG seeks Customs’ focus on trade facilitation

CPC, NBA blame bank staff for ATM frauds

Bloated salary suit: NBA is striving after the wind, says Senate

Nigeria, other African banks resist pressure to boost lending

Nigeria's ascendant oil industry faces host of pitfalls

EITI may de-list Nigeria over corruption in NEITI

Oando Group to offer investors 49% of marketing arm in strategy shift

Bauchi senatorial by-election records low voters’ turnout

Saturday, August 21, 2010

Wyclef Jean rejected as Haiti candidate

Sylva declares intention to contest for second term

ICMR flays regulators on single register for banks

FG still targets 48 hours clearance at the ports ... Inaugurates taskforce on Customs reforms

Friday, August 20, 2010

Jonathan signs electoral bill

Nigeria releases election funds after poll chief's warning

NFF Elections put on hold pending hearing of application

LASG raises annual health vote from N2.5b to N42b

Health workers strike claims 20 patients in Katsina

Thursday, August 19, 2010

FG signs employment generation pact with five sectors today

Death toll in Bauchi, Borno cholera outbreak rises to 231

Lekki-Epe express road concession critical to success of LFTZ, says Fashola

Nigeria supplies 600, 000 barrels crude oil to Tema refinery

CBN approves new bank number standards for seamless automated transactions

Bankole: Only president, deputy exempted from screening at airports – NCAA

Jonathan consulting before assenting to electoral bill, says minister

Power constraints force telecos to seek alternative energy sources

MTN pays interim dividend as strategy shifts

Nigerians, firms generate N2.6trn own electricity yearly – CBN

Gold rises sixth day in a row on weak jobs data

WAEC withholds results of 77, 168 candidates

SNG, CLO, CNPP set for protest over INEC’s conduct of 2011 polls

Rivers govt releases N4b for festival stadium

MTN H1 profit up 21 percent, hikes dividend

Wednesday, August 18, 2010

INEC gives condition for de-registration of political parties

Jonathan’s camp strategises to meet Buhari at 2011 polls

Industrial court orders Lagos doctors to suspend strike

2011 election should not be business as usual–British High Commissioner

Insurance operators’ capital base hits N500bn –Commissioner

FG says five new remodeled international airports to be ready in 24 months

Ghana stops ExxonMobil takeover of $4bn Jubilee stake

Voters’ card: Local ICT coys worry over preference for foreign firms

Shell declares force majeure on Nigerian Bonny oil, shuts in 100,000bpd

Legal wrangling, funding delay election preparations – Jega

Former Delta Varsity VC Kidnapped

Druckenmiller Calls It Quits After 30 Years as Job Gets Tougher

Cholera: death toll rises to 67 in Bauchi State

U.N. secures more Pakistan flood relief funds

EFCC boss, U.S. officials meet

Debt: PHCN threatens to disconnect Port Harcourt airport

Workers plan further South Africa strike

Tuesday, August 17, 2010

Shock as NBS revises inflation rate for June to 14.1%, puts July rate at 13%

U.S. ambassador commends SEC on strong capital market reforms

Price of cement may fall by December – Manufacturers

2011 elections may undermine Nigeria’s precarious stability

Nigerians protest against killing in South Africa

Atiku writes PDP for waiver to contest 2011 presidential election

Bribes fuel corruption in Nigeria police – human rights group

NSE, Accenture start headhunting for NSE DG

Discordant tunes trail Jonathan’s presidential bid

Council, management planned 60% ownership of demutualised NSE

Deadly diseases could bring more tragedy to flood-stricken Pakistan

Jonathan may not contest 2011 polls

Monday, August 16, 2010

Atiku threatens to drag PDP to court over waiver

2011 election battle heats up as rivals declare

Presidency denies Gusau’s resignation

CBN to raise N200bn bond to revive automobile sector

Lagos government to dump FG’s salary structure

Universal banking not cause of banking crisis, says finance minister

Transactions resume at NSE on positive note

CBN seeks 5% non-performing loans ceiling for banks

Clearing of NIPP containers yet to commence

Four rescued banks get bids as CBN targets 9.5% inflation rate

MTN Group Says First-Half Earnings per Share Rose

UBA’s Senegalese Unit Plans Branch, Lending Expansion

Amended Constitution conflict: SNG, CLO, others seek urgent Supreme Court's intervention

NPC registers 264,816 births in 2009

Sunday, August 15, 2010

Dangote withdraws from attending council meetings

Ikazoboh assures investors of stock market rebound

Corruption still high in public contracts, procurement, reveals BusinessDay, LCCI survey

2011: Atiku declares presidential ambition, outlines five key sectors to tackle

Inter-bank rates climb on large cash outflows

Inflation targeting by CBN threatened as rice prices come under pressure

Expensive National Assembly costs N685bn in just 11 years

Elected politicians put Nigeria at risk as $20bn oil fund is squandered

Impersonating Anyim

20 burnt to death in multiple accident on Lagos bridge

Saturday, August 14, 2010

Growth Prospects Dim in U.S. After Retail Sales, Trade Reports

4 universities to offer masters degree in nuclear science, engineering ---DG

Obama throws support behind controversial Islamic center

Flood-ravaged Pakistan cancels independence day events

Kogi assembly passes bill on remuneration of public office holders

SON to sign MOU with Chinese Government on importation of goods

UK Police coming for Ibori


Friday, August 13, 2010

Akingbola sent back to EFCC custody, awaits determination of bail application

Court orders negotiations between doctors and Lagos State, invokes S. 20, NIC Act

Oil rises above 76 dollars on technical, euro gains

Bumps reduce accidents in Abuja, says FRSC

Court denies Akingbola bail, to remain in EFCC custody

Thursday, August 12, 2010

Doctors commence indefinite strike in Lagos, Ibadan, Katsina

Electricity workers reject proposed tariff increase

Oil, gas insurance underdevelopment linked to overriding commission, premium discounting

Why we offloaded Bankole from London bound flight, by BA

Construction sector contributes 3% to GDP, says Aganga

Reps approve N87.7m INEC budget, caution on utilisation

W/Africa could see record main cocoa crop

Bread, noodles, others to cost more as Russia wheat ban bites

PDP NEC endorses zoning, says Jonathan, others free to contest 2011 presidency

Nigerian stock rally seen as delayed despite fund flow

Reps approve N87.7b INEC budget, caution on utilisation

Health workers commence indefinite strike in Katsina.

2011 Election timetable depends on 2010 Electoral Act, says INEC

NSE records 21.5% loss in market turnover

Board creates data base for oil, gas industry

Experts worry over government spending in 2010 budget

Wednesday, August 11, 2010

Jonathan berates politicians over ‘pull-down’ syndrome

Theodore Orji, Abia governor, joins PDP, meets Nwodo

Amendment of 1999 constitution: NBA drags National Assembly to court

Fashola renames Igbosere Magistrate Court after Taylor

9 persons feared dead in Abuja building collapse

NLNG seeks $2bn loan – Bankers

Jonathan acquires three new jets

Security still suspect at Lagos, Abuja airports

CBN wants banks to insure AMCON against losses

Intercontinental Bank swings to H1 profit

Nigeria to buy 3 new presidential jets

Wall Street tumbles at open after Fed and data

Ramadan: Muslim groups urge unity, love

Kagame wins re-election in Rwanda, official results show

Jonathan swears in 3 ministers, effects minor cabinet change

Tuesday, August 10, 2010

FG seeks additional $4.427bn foreign loan to finance critical infrastructure

Gunmen attack Bayelsa monarch’s palace

2011: PDP targets N7.2bn from online registration of members

Enforcement against illegal ‘okada’ operations begins September 1

NEC blames banks over inability to disburse N200bn agric loan

FG sets up inter-ministerial committee on unemployment

2011: ACF votes for zoning

Implementation of NESG’s summit recommendations unsatisfactory –Ohuabunwa

Jonathan approves N525bn electricity grid

Senate ignores public outcry, approves N87.72bn for INEC

Senate approves N87.72bn for INEC Voters Register

Nigeria's Skye Bank H1 profit drops to 6.4 bln naira

Oil price falls to near $81 on lower China

World Bank urges nations to avoid food export bans

More rains add to Pakistan's flooding misery

Monday, August 09, 2010

2011 election: I will account for every penny appropriated, Jega assures Reps

Jega: Senators query N13bn profit margin for ICT vendors

Minimum wage: TUC threatens showdown with states

PenCom set to increase capital base of PFAs

NNPC reaffirms commitment on gas to power

CBN, AGRA sign MoU to pump N457bn into agriculture sector

Banking, oil reforms to unlock Nigeria’s potential – fund managers

HiTv offers to buy share of Premiership rights from DStv

131 apply for NSE director general position

Jega’s N74bn voter budget fails procurement benchmark test

2011 election: I will account for every penny, Jega assures Reps

BP says oil spill costs hit $6.1 billion

Goldman Sachs Lost Money on 10 Days in Second Quarter

Kebbi govt sets up commission of inquiry on political violence

Farrow: Campbell said diamond was from Taylor

Sunday, August 08, 2010

Software engineer faults INEC’s N74bn budget for voter registration

Jonathan eyes poll bid but needs the North

2011: INEC evaluates NIGCOMSAT e-voting machine

Hope of economy rebounding rises as power generation hits 3,804 megawatts

FG restates commitment to diversify economy, boost export

NIPP containers get 70% waiver on charges

Losses by rescued banks wiped out 67% of industry capital, slowed credit

Top notch lawyers join forensic audit at NSE

Ghana, Bangladesh figures shame Nigeria’s cost per voter

FG may commission some NIPP facilities this year

Saturday, August 07, 2010


Platts Survey: OPEC Pumped 29.22 Million Barrels of Crude Oil Per Day in July

RIM, Saudi Arabia Reach Deal to Continue BlackBerry, AP Says

Jonathan appoints Chief Economic Adviser

PDP dissolves Ogun State Executive

Friday, August 06, 2010

‘NIGCOMSAT can save 25% of INEC’s N74bn for voters’ registration’

6000 youths to undergo ICT training in Kogi

Naomi Campbell's friend turns over diamonds to police

Hundreds expected at UK Muslim anti-terrorism camp

Thursday, August 05, 2010

Election is not war, says Sambo

2011: Shekarau, Kano governor, declares presidential ambition

Ikazoboh: Rise of a top accountant

Stakeholders hail sack of Okereke-Onyiuke, ask SEC to prosecute guilty operators

Facility managers advocate budgetary legislation for infrastructure

FG says 1st implementation plan of 20:2020 stands at N32trn

I had offered to step aside - Dangote

Out with the old in the Nigerian market

Rise in credit to private sector, positive sign for economy

Forensic audit could lead to criminal prosecution of NSE chiefs

NIMC D-G Commissions Nationwide Identity Management ICT Infrastructure by Galaxy Backbone

SEC appoints interim stock exchange boss

Ataoja of Osogbo, Matanmi, is dead

Oando secures $400 mln loans

Supermodel Campbell testifies about receiving 'dirty-looking stones'

Wednesday, August 04, 2010

Power crisis: Agency blames government’s inconsistent policies

Naira weakens as dollar demand grows

Constitution amendment: No need for president’s assent, say Reps

World Bank to release N3.4bn to science education centres

Outlook for rescued banks’ mergers, acquisitions positive – CBN

N72bn to INEC won’t hurt economy, says finance minister

Loan security, shareholders’ funds to drive sale of rescued banks

SEC steps into NSE crisis, sacks Okereke-Onyiuke

EFCC detains Akingbola, Seizes his travel documents

Naomi Campbell will testify in war crimes trial Thursday


Iran denies reports of grenade lobbed at Ahmadinejad's convoy

Prices of tomatoes, pepper drop drastically in Benue

Tuesday, August 03, 2010

Daniel recounts problems facing administration

CBN governor charges policy makers to revisit land ownership system

Present National Assembly will still create states—Mark

NUC withdraws OSUTECH’s licence, threatens Ekiti varsity

FG says Brazil, China to finance core projects in Nigeria

Akingbola sneaks into the country, EFCC in manhunt for him

Senate to reconvene, approve INEC’s N74bn budget

Economy could have lost N4.6bn without AMCON, says CBN

Bank suitors seek clarity on bad loans

Stock Exchange lied, Accenture not involved in CEO search

46 stocks suffer losses on NSE


Senate to reconvene to approve N74 billion for INEC

Monday, August 02, 2010

N74bn too much for voters’ registration, says Deputy Senate President

FG to expand military structure to deal with emerging internal, external threats

Abia Assembly removes deputy governor

Fuel import racket: NUPENG alleges cartel runs PPPRA

Gunmen attack Bayelsa House speaker’s home, kill one

MAN’s N15bn Kano wind power project ready in 2011

‘Why property market is yet to see distressed assets’

Jega explains expenditure pattern for N74 billion budget

NSE crisis deepens as Accenture suspends CEO selection over debt

Crude Oil Rises to Highest in Four Days as Asian Equities Gain

FG ready to partner private sector on gas development

Doctors in Plateau say still on strike

Road crashes have dropped in Nigeria by 51 per cent -- FRSC

Sunday, August 01, 2010

PIB: CISLAC seeks 30% royalties for oil producing communities

Higher oil output, prices seen boosting Nigeria growth

NEPAD’s efforts stifled by poor funding

Factbox : Reform plans for Nigeria’s energy sector

Oil reforms to pass soon, bid round to follow

Inter-bank rates fall on fresh cash inflow

Why elections may not hold in January

Ghana clears obstacle for Glo’s operation

Nigeria’s voter registration is world’s most expensive

Germany beat Nigeria to clinch U-20 Womens’ World Cup

Mismanagement responsible for loss of 27 ships – NSC

Germany beat Nigeri to clinch U-20 Womens’ World Cup

UAE to suspend Blackberry service on security fears

Chelsea Clinton marries in NY

Labour, MAN hail release of N30b textile bailout grant