Businessday Nigeria Archive for June 2011

Wednesday, June 29, 2011

Stronger regulation will end kerosene scarcity - Allison-Madueke

Group flays Jonathan’s plan to appoint 20 political advisers

Immigration boss warns officers against extortion of travellers

FG ends amnesty programme with 26,358 ex-militants

IPMAN constitutes 22-man committee on products allocation

Tuesday, June 28, 2011

ETI commissions state-of-the-art headquarters in Lome

Okonjo-Iweala, Omobola Johnson missing from ministerial list

US, EU condemn violence in northeastern Nigeria

Telkoms sells Multi-Links to Helios in $10m buyout deal

Jonathan wants Senate to confirm 34 ministerial nominees

Acute kerosene scarcity hits Calabar, Enugu

CCB declines comment on Tinubu’s trial date

FG says emission in Gombe not volcanic eruption

Maritime security bill will stall growth, NIMASA warns

Senate receives list of 34 ministerial nominees

Jonathan heads to Malabo for AU meeting

International Criminal Court

World Bank lists Nigeria among promising economies by 2025

Oil bill shelves joint venture plan – Sources

Monday, June 27, 2011

JTF takes over security in Maiduguri

SEC tightens noose on IFRS implementation, corporate governance

Expect tough economic policies, Jonathan tells Nigerians

CBN’s agriculture boosting plan to ease access to loan

Global Fund may suspend Nigeria over $474.6m fraud

CBN designs new scheme to de-risk agricultural lending

EXIM Bank of India to extend $20m line of credit to NEXIM

FG plans incentives for local manufacturing firms

Jonathan submits cabinet list to Senate – Source

Medical practitioners task FG on National Health Bill

FG set to strengthen ALSCON, says Sambo

Deadly bombing in Maiduguri kills 25

Sunday, June 26, 2011

Analysts foresee one successful merger open doors to M&A deals

Textile manufacturing gets boost, as ASCE starts trading in cotton

Senate president, speaker decide jumbo pay of federal legislators

NITEL’s viability scares investors

NLC, TUC flay increase in electricity tariff

Dangote Group wins African Business of the Year Award

ACN wants Jonathan master plan on road rehabilitation

Sarah Jibril says dialogue panacea to security situation

Robbers attack ex-Kano deputy governor

Ban crude export, gas flaring, experts tell FG

NNPC repositions for gas exploitation amid tsunami threat to nuclear plants

Saturday, June 25, 2011

Tension in Badagry over beheading of 14-year-old boy

WAAPP commends Jonathan for nominating opposition leaders as ministers

Governors courting revolution over minimum wage, says NLC

Bharti makes final payment of $ 700m to Zain

London court adjourns Ibori case to July 22

FG to seek development partners' support for post-amnesty programme

Friday, June 24, 2011

Senator Lawan says new revenue formula ready in three months

NGO flays UK acceptance of stolen funds from Nigeria, others

Okonjo-Iweala in frame for cabinet role

FG loses $1.1bn over dispute with Mobile, Shell, Chevron

NNPC faults IPMAN's kerosene hoarding claim

Thursday, June 23, 2011

We’ll review running cost of governance – Tambuwal

Businesses need strategy for differentiation – Kanter

Jonathan may cede project, policy execution to economic team

FG raises electricity tariff to attract investors

FHQ blast: FG tightens security in FCT

Presidential committee on election violence ends sitting in Uyo

Police, soldiers in near-clash over enforcement on BRT lane

Tambuwal seeks financial autonomy for State Assemblies

FG to launch 34m-pound NigeriaSat-2, -X July 7

Security operatives comb PDP national secretariat over bomb blast

MTN hits 150m subscriber mark

‘Global gas oversupply could vanish by next year’

Delta polytechnics, COEs reopen as workers suspend strike

Oniwon hinges end to gas flaring on increased consumption

Wednesday, June 22, 2011

NNPC soon to float $6 bn petrochemical plants

Non-interest banking to expand patronage – CBN

Poor infrastructure stunts e-governance, commerce, education in Nigeria

Violence, bombings affecting investment decisions on Nigeria – NIPC

Bankole arrives Lagos in chartered jet, shuns journalists

Abuja bomb blast spurs security beef-up at NASS

Airport access toll gate expansion to gulp N1bn

Nigeria oil exports to rise to 5-1/2 year high

NNPC plans to float $6bn petrochemical plants

Jonathan tasks civil servants on efficiency

ASUU insists on total implementation of 2009 agreement

Minimum wage: Group wants resignation of non-paying governors

NEMA tasks local councils on Disaster Management

DPR plans depot inspection to prevent hoarding of kerosene

Governors to engage Labour on new minimum wage

Nobody was killed in Apapa on Monday - Police

Tuesday, June 21, 2011

44 killed in Russian plane crash, 8 survive

N3trn cost threatens minimum wage implementation

Oteh, in London, canvasses ‘right politics’ to grow debt capital market

Jumbo pay reinforces call for part- time legislature

Okah to call 103 witnesses over Independence Day blasts

PDP NWC members lobby for ministerial positions

Manufacturers decry biting effects of ethno-political crisis

NDLEA foils attempt to export 800g cocaine to London

PHQ bombing: Security expert says dead bomber not likely on suicide mission

Former Army Provost Marshal tasks Jonathan on national security

Transmit tobacco bill for presidential assent, ERA tells NASS

'Development finance key to unlocking investment potential in Africa'

Monday, June 20, 2011

Search for finance minister throws up issues about role

Competitive pricing, hassle-free visa, put Emirates ahead of the pack

Sanusi promises first ever Islamic bond in 18 months

NNPC throws spanners in Shell’s divestment plan

100 Abuja-bound passengers escape plane crash

Abuja bomb blast linked to porous borders

Shell Nigeria oil block sales face operator tussle

National security central to my government, says Jonathan

Death toll in Maiduguri Boko Haram attack increases to 5

NLC wants federal, state governments to pay minimum wage

Group commends army, taskforce for smashing hideout in Onitsha

Forum urges FG to review 35% import duty on cement

Sunday, June 19, 2011

‘Nigeria’s inflation falls to single digit December’

Kanter points businesses to growth path at BusinessDay conference

Nigeria’s leather industry faces extinction as EEG kills tanneries, shoe firms

Analysts upbeat on banks’ earnings as NPLs decline

FG doles out N3bn to UNIPORT, Amaechi N100m

Rivers Police rescue kidnapped woman

Nigeria signs security pact with US on terrorism

Ogoni, soldiers feud widens as pan-Ogoni Congress demands Army withdrawal

NAC slams ethnic chauvinists over trial of Bankole, others

Resign now, Lagos PDP tells Tambuwal

Price of cement drops in Benue

PDP chieftain tasks FG on bombings

Saturday, June 18, 2011

Bitumen extraction will ruin communities, ERA cautions FG

Bombings: Muslim group calls for 2-day fasting, prayers

Poor infrastructure stunts broadband Internet, data capacity

Bankole, Nafada challenge bail conditions

Friday, June 17, 2011

N200bn Agric Fund: Farmers decry stringent disbursement conditions

Police beef up security at Lagos airport over bombings

Drop non-performing ministers, PENGASSAN tells Jonathan

Jonathan calls for calm in aftermath of Abuja explosions

Islamic Council wants FG to extend amnesty to Boko Haram sect

Group slams government, oil majors over poor response to oil spills

Boko Haram claims responsibility for bomb attack

Bomb attack: FCTA orders stop-and-search in Abuja

Thursday, June 16, 2011

Okonjo-Iweala accepts to serve in Jonathan’s government

Suicide bomber attacks force headquarters

Bankole, Nafada return to EFCC custody

11 in hospitals from Abuja scene of explosions

UNDP tasks Nigeria on increased energy supply

Abuja Bomb blast: Labour leaders lament rising insecurity

Bankole, Nafada, granted bail

Okonjo-Iweala may serve in Jonathan administration

Kidnapped corps members still held captive as colleagues pass out in Rivers

Aderinokun's death has depleted banking gurus in Nigeria, says Ajimobi

Bombing threatens security, corporate existence of Nigeria – Mark

Bomb blast: Labour leaders lament rising insecurity

Abuja blast hits police headquarters

15 Nigerians incarcerated for life in Iran

Abuja blast hits Nigeria police headquarters

7Th National Assembly to make people-oriented laws - Lawmakers

World Bank told report on land grabs is dubious

Wednesday, June 15, 2011

Internet access set to triple in Nigeria

NBA blasts CJ over visit to EFCC chairman

2011 general elections cost Nigeria N470bn, 1.9% of GDP

FG spends N385bn on fuel subsidy in five months

DPR to seal stations selling kerosene above N50 per litre

Blair in Nigeria, urges leaders to focus on achievable programmes

Corps members’ kidnapping: Abductors reduce ransom to N10m

Kerosene still unavailable in Abuja filling stations

ERA flays non-passage of PIB into law

FG to review policy on tobacco companies

Tuesday, June 14, 2011

South - South governors sign pact on regional economic cooperation

Jostle for ministerial appointment rattles PDP

Gunmen abduct Olusola Oke’s mum

Banks’ recapitalisation gets relief as court cases are quashed

Kaduna Police discover three bombs in four days

Nationwide strike looms over new minimum wage

N75.5bn fraud: Court grants Lawal bail

Nigeria says to sell power sector assets by Q1 2012

NASB wants MDAs to produce timely financial statements

Kerosene consumers in Anambra bemoan product price hike


funding central to revitalizing steel sector, says expert

Telkom laments fate of N224.64bn investment in Multi-Links

Joint inter-agency training reduces clashes - Chief of Army Staff

Monday, June 13, 2011

NCC flags off Number Portability scheme

GDP growth to drop to 5.9% in 2011 on back of political horse-trading

S/Africa’s Telkom stops funding Multi-Links

Bankole granted bail, re-arrested

War against bad governance is my next challenge, says Jonathan


Declare June 12 Democracy Day, Balarabe tells FG

NCC to flag off Number Portability soon

High bank rates, aviation fuel slow airlines’ growth - NCAA

NASME wants FG to establish bank for SME sector

South Africa's Telkom pulls funding from Nigeria unit

Sunday, June 12, 2011

Nafada joins Bankole in EFCC cell over N40bn scam

Kidnapping, armed robbery resume in southern states

Tambuwal’s emergence booby trap for Jonathan, says Okorie

Oil marketers warn NNPC over kerosene allocation guidelines

Bristow Helicopters divests stake in Pan African Airlines

FAAN apologises over disruption of water services at Lagos airport

‘Jonathan administration needs human capital development blueprint’

Sagay wants FG to declare June 12 national holiday

South-South chambers task governors on 2009 Economic Blueprint

Jonathan administration needs human capital development blueprint

Presidency demands apology over offensive report

Saturday, June 11, 2011

MEND says set to attack ENI

Customs, SON partner to decongest seaports

NLC wants nation’s security system revived

S/East Chamber of Commerce set to restore zonal economy

Soyinka, Tinubu, others for June 12 anniversary in Ogun

Friday, June 10, 2011

Obi, Babalola, 94 others Bag CIBN’s Fellowship Awards

Court defers ruling on Bankole’s bail till Monday

Nigeria charts new course in fight against HIV/AIDS

Time for Nigeria to dialogue, PRONACO

October 1 bombing: Okah, others know fate July 29

Nigeria gets $4.15m from GEF to boost environmental management

Thursday, June 09, 2011

NYSC stops posting corps members to crisis prone areas

Surveyors call for urgent amendment to Land Use Act

Rescued banks, investors in last minute rush to tie-up deals

Lawyers flay Mark over stance on NASS members’ jumbo pay

Don’t make Bankole a scapegoat - Ogun PDP Elders Council

US, Canadian investors to partner FG on power, housing

ASUP set for strike as Plateau police arrest protesting students

NIMC advocates review of legislations on national identity

INEC vows to increase voter participation in electoral process

Oil gains as supply concerns mount

Fashola blames FG for army, police clash

Nigeria uncommitted in a divided OPEC

NANS gives FG one-week ultimatum on Kaduna polytechnic crisis

Wednesday, June 08, 2011

Court remands Bankole in EFCC custody, trial starts July 26

Aig-Imoukhuede appointed co-chair of GBC-Health Board

Borrowing cost soars as banks begin CRR implementation

NERC wants power firms to guarantee better service ahead new tariff

N10bn loan: EFCC grills ex-deputy Speaker, five principal officers

Nigerian pilots, engineers storm NAAPE office over expatriates

Lagos tax force seals Air Nigeria office over unpaid tax

N75BN fraud: Court returns ex-works minister, 7 others to prison

Court remands Bankole in EFCC custody, fixes trial for July 26

NERC wants service delivery guarantee from power DISCOs

Britain backs second term for U.N. chief Ban

E. coli: Germany says worst of illness is over

Tuesday, June 07, 2011

FirstRand back on acquisition trail after Sterling Bank setback

Rescued banks: September 30 deadline sacrosanct, says CBN

NNPC admits kerosene distribution problem as consumers groan

FG’s 400 parastatals bleed the nation, says Al-Gazali

Explosions, gunfire hit Maiduguri

NNPC cuts ties with affiliates over kerosene diversion

Abuja bomb blast victims to get treatment abroad – FCTA

Stakeholders flay non-passage of PIB

PHCN ties low power generation to maintenance at Utorogun plant

Stakeholders seek implementation of ECOWAS regional water policy

Cement price drops 24.1% in South-South

Jonathan arrives US, to address UN Security today

Monday, June 06, 2011

Cement price drops 21% in 20 days as president’s ultimatum ends June 17

Tambuwwal is new Speaker, Mark, Ekweremadu retain posts

Telcos, IOCs, FGN bonds hold key to market deepening

Jonathan, Elumelu, Mandela, others make Top 100 Africans list

EFCC obtains search warrant on Bankole, seizes travel documents

Tambuwal emerges Speaker, House of Representatives

Experts advise CBN to stop upward review of MPR

Don’t interfere in Bankole’s trial, group tells Jonathan

Mark re-elected Senate president, Ekweremadu deputy

CBN sees no need to depreciate naira

FG restates commitment to investment-driven policies

Ekweremadu re-elected Deputy President of 7th Senate

EFCC arrest Dimeji Bankole over #10 Billion 'fraud'

Sunday, June 05, 2011

Omen loses bid for NITEL if revalidation extension fails by Friday

Jonathan may submit ministerial list to Senate Thursday

Analysts weigh in with bearish views on banks’ profitability

Shell targets $3 billion investment in domestic gas

N10bn scam: EFCC arrests Bankole

Business leaders foresee CBN maintaining tightening posture, list post-election challenges

PDP wants legislative, executive cooperation for speedy budget passage

Speakership: Two Reps members drag FG, EFCC, others to court

Air Nigeria to re-commence Lagos-London, other International routes September

NASB wants repeal of laws inconsistent with IFRS

Jonathan’s 36 state coordinators flay N7.4m parting gift

Obama to receive Jonathan at White House

TUC, CACOL, others chide Bankole over EFCC face off

Saturday, June 04, 2011

Give Nigerians an environmental blueprint, group urges FG

Akwa Ibom seeks N3 billion mortgage loan

Lawyers set agenda for 7th National Assembly

7.5% of insurance stocks trade below N1

Interbank rates flat, seen rising next week

Friday, June 03, 2011

Sterling Bank: Where to from here? – Renaissance Capital

Bankole to honour EFFC invitation on Monday

N10bn loan: Bankole resists EFCC arrest

GEF, UNDP to boost energy efficiency in Nigeria

Dangote Cement makes history, joins Forbes best 2000 companies

Yemen: Shells hit presidential palace in Sanaa

Jonathan dissolves Presidential Campaign Council

New revenue sharing formula coming Q1, 2012

INEC dissociates self from plans to celebrate April elections

Thursday, June 02, 2011

N/Assembly winds down, Reps absolves ‘indicted’ Etteh

FG projects fall to corruption, mediocrity — PPAC

Rescued banks may seek London Exchange listing to raise funds

PenCom raises PFAs’ share capital to N1 billion

Nigeria Police break suspected baby-trafficking ring

Labour flays sale of lawmakers’ official cars, office equipment

Jakande wants ASUU to reconsider planned strike

Nigeria to sell N125bn in treasury bills

Boko Haram claims responsibility for bomb attacks

N25bn suit: Chimaroke gets bail in Enugu High Court

Wednesday, June 01, 2011

Banks fall back on alternative windows to raise cheap funds

Polymergate: Middleman influenced Obasanjo, Australia Ex-PM meeting

Jonathan urges support from party leaders

BPE shortlists 525 bids for PHCN sale

National Assembly passes Anti-Terrorism Bill

INEC to begin preparation for 2015 elections

Obi congratulates Anyim on appointment as SGF

Flour Mills to hold EGM for Rights Issue

Centre seeks effective implementation of FoI

NACCIMA urges Jonathan to appoint young technocrats to cabinet

FG seeks out-of-court settlement on N481.4bn withheld funds

Tuesday, May 31, 2011

24,000 new jobs expected from BUA’s $500m cement plant deal

Nigeria to benefit from Bharti’s $1bn new Africa investment

Banks face new stress test next year - CBN