Businessday Nigeria Archive for August 2011

Tuesday, August 30, 2011

Enugu pays minimum wage, clears arrears

UN underestimated security threat in Nigeria, says security chief

OPEC oil output nears 3-year high – survey

UI loses property, animals worth N10bn to Ibadan flood

Ban Ki-moon to address General Assembly on Abuja bombing

Tight security in Jos as Muslims mark Eid-el Fitr

Army chief wants ex-militants to respect amnesty pact with FG

Jonathan pledges improved security

Ibadan flooding: LASEMA urges Lagos residents not to panic

Monday, August 29, 2011

Social indicators paint bleak picture of Nigerians

Rivers takes N100bn from bond portfolio for power distribution

NNPC takes up operatorship of Shell oil blocks

Lives lost, properties destroyed in renewed Jos crisis

FG assures diplomatic community of safety in wake of bomb blast

Jos boils again, scores killed

Job creation framework coming, says Economic Adviser

Gadhafi family members in Algeria

Boko Haram claims Nigeria UN bombing

Stakeholders say high cost of transportation, production, others hike cement price

Brent oil above $111 as Irene weakens, dollar slides

Access Bank to buy 75% Intercontinental Bank

IFC invests N4.58bn in GT Bank

Don't abuse prisoners, Libyan leaders warn followers

Sunday, August 28, 2011

Bank lending up N441bn in first quarter 2011

Bombings, insecurity frustrating FDI into Nigeria

UN deputy scribe visits Nigeria, says bombing is attack on global peace

Morgan Stanley forecasts net capital inflows of $33 billion for Nigeria in 2011

World Bank approves $82m for Kainji dam

Saudi to deport 1,500 Nigerian illegal immigrants

U.N. deputy Sec. Gen. visits Abuja bomb victims

Jonathan pledges to rebuild bombed UN House, 23 confirmed dead

$1.5bn air tickets sold in Nigeria annually- report

Ibadan flood: Death toll rises to 30

Gunmen assassinate ex-acting judge in Oyo

It is time for ceasefire, ACN tells Boko Haram

Okonjo-Iweala, Clark, CAN president, others shun Delta award ceremony

12 feared dead in Ibadan downpour

Saturday, August 27, 2011

Hurricane Irene makes US landfall as millions flee

UN bombing: Sylva calls for united action

CBN extends interbank guarantee to ETB

UN urges return to order in Libya

Stop agitation for state creation, Oyovbaire tells Nigerians

Bomb blast: Italy, Poland condole with Nigeria

Friday, August 26, 2011

Akpabio approves N18,000 minimum wage, labour suspends strike

At least 18 die in car bomb attack on Nigeria UN HQ

‘Intercontinental, Access Banks’ merger deal gets SEC approval’

Obama condems bomb attack on UN HQ in Abuja as "horrific"

Bank rates up despite budget flow

Shell restarts gas plant after pipeline leak

Suspected suicide bomber kills 20 UN staff, several injured---as EU, Reps, FCT minister condemn the act

Jonathan, Obasanjo condemn suicide attack on UN House

Bomb blast at U.N. building in Abuja kills at least 18

Bomb blast hits UN building in Abuja

UK jets bomb Gaddafi hometown bunker

Smoke billows from UN building in Abuja -witnesses

Thursday, August 25, 2011

Jonathan assures of ECOWAS presence during Liberian election

Jonathan canvasses reward, punishment for public officeholders

Court grants Salami leave to serve NJC, others summons

EFCC fails to deliver – Rights Watch

Investors say power bulk trader will give confidence, reduce corruption

Analysts condemn governors over Sovereign Wealth Fund

Nigeria’s huge beer market offers opening for more investments

Libya rebels fight on in Tripoli

Naira set to rise against the U.S. dollar

Rebels target Gaddafi's hometown

Nokia unveils two cheap phones for emerging mkts

Libya rebels battle to root out Gaddafi die hards

EFCC fails to deliver, says Rights Watch

Libya rebels battle to root out Gaddafi diehards

Apple boss Steve Jobs to be replaced by Tim Cook

NLC wants FG to re-appraise decision on Salami

FG to position Nigeria as net exporter of cement, says Aganga

Price on Gaddafi's head as rebels plan for future

Wednesday, August 24, 2011

Financial constraints scared NDIC off nationalised banks

Okonjo-Iweala’s economic blueprint points to lean govt

New tenancy law makes multiple years rent illegal

FG reviews nation’s trade policy, inaugurates 23-man technical committee

Salami suspension: Court denies oral application for motion

AfDB to release infrastructure development report on Nigeria

Okah faces fresh charges, appears in SA Court

Nigeria, Vietnam partner on farm settlement establishment

Nigeria to focus on tighter spending, jobs - Okonjo-Iweala

Gaddafi flees Tripoli HQ ransacked by rebels

Heineken sees weak Europe, US in H2; shares plunge

Tuesday, August 23, 2011

Firms pledge N1.5trn investments in response to Aganga’s challenge

Experts list expectations as Okonjo-Iweala unfolds blueprint

FG establishes bulk trader to guarantee power investors

Gaddafi to ‘fight to end’ as rebels seize compound

Shell Nigerian oil export shut by hacksaw attack

Stauss Khan charges droped

Gaddafi to ‘fight to end’ as rebels seize HQ

‘Bulk Trader’ to guarantee power investors

‘Unstable electricity supply, major challenge in telecoms sector’

Governors want clarity on wealth fund

Football fans commend police for rescue of Mikel’s father

Nigerian Pilgrims escape death in Saudi Arabia

Nigeria pledges support for Libyan transitional government

Mikel's kidnapped father released

Gaddafi son vows to fight rebels

FG poised to ensure high academic standards in polytechnics

Monday, August 22, 2011

Justice Salami: NBA withdraws from NJC, protests suspension

Power supply can ease unrest in Nigeria– Nnaji

Nigeria loses 5m jobs to poor cabotage Act implementation

Oil price down as rebels capture most of Tripoli

EFCC gets ballistic vests from US Police

Salami’s retirement: ASUU opposes Jonathan approval

N2.1bn scam: ICPC to prosecute ex-NDDC Chiefs Alaibe, Aguariowodo

Nigeria loses 5 million jobs to poor Cabotage Act implementation

NEMA gets mobile clinic for Maiduguri bomb blast victims

CJN swears in Justice Adamu as acting president, Court of Appeal

Renaissance Capital highlights huge potential in African beer markets

Islamic Banking is governance by ambush, say Catholic bishops

Gaddafi's son Saif arrested in Libya – ICC

Sunday, August 21, 2011

Cotton production to rise to 300,000 tons on ASCE listing - expert

Japan, China eye 18 million metric tons of Nigeria’s LNG

Single digit inflation: World Bank says don’t celebrate yet

Adenuga targets MTN’s dominance in NITEL acquisition bid

Cholera outbreak hits Ibadan, four dead, 16 hospitalised

FG mulls privatisaton of Aviation College

Chachangi Airlines dissociates self from Boko Haram

Nigeria vulnerable to food crisis, says IFAD President

NAICOM arrests 2 Lagos IRS staff, 4 others for fake insurance

Service remembers 77 killed in Norway massacre

Saturday, August 20, 2011

ACN challenges Sylva on audited accounts

Market indicators drop 0.22% on NSE

‘Installation of new power equipment to be completed December’

Friday, August 19, 2011

CBN removes cap on forex sales to BDC

CPC alerts on impending shipment of radioactive goods

UNEP Report: Ogoni leaders douse tension, begin consultation

Islamist sect kills 3 policemen

Minister appeals for unconditional release of Mikel’s father

NITEL holds bilateral talks with Cable and Wireless Worldwide

2011 election violence: NBA, LRC file N100bn suit against FG for victims

Sambo gives boundary commission thumbs-up for resolving border disputes

Thursday, August 18, 2011

NJC suspends Salami, asks Jonathan to retire him immediately

Oil money blinds Nigerian states to destination branding

Business welcomes Okonjo-Iweala with fresh hope in economy

Parastatals, agencies set for FG’s hammer

2012 guber primaries: PDP opts for consultation

Report on Islamist sect attacks delayed

Obasanjo flays IBB at 70 for derogatory comments

Al Mustapha’s claims unfounded, says former CPS to Ige

Protesters storm National Assembly, call for Katsina-Alu’s probe

Lagos dredges canals to stem flooding

Nigeria taking lead in African local debt

FG sets up committee to reduce parastatals, agencies

FG sells N93b naira in bonds-DMO

Mikel gets "sizeable" demand for dad

Akwa Ibom reads promoters riot act on Amakpe refinery project

NUJ to picket media outfits over non–payment of staff salaries

Jonathan constitutes committee on Ogoni pollution report

Jonathan condoles Aikhomu family

Wednesday, August 17, 2011

CBN approves rescued bank MDs as consultant to new lenders

Foreign direct investment declines by 78.1% to $668m

Okonjo-Iweala talks tough, makes job creation target of role in govt

Bank fraud up 55% as lenders lose N13 billion

Former Vice President, Augustus Aikhomu dies

Kidnappers ask Mikel's family for N20m.Police

Economic experts blame drop in educational standards on government negligence

Cement manufacturers blame price hike on LPFO, shutdown of plant

Mikel John Obi's family make first contact with father's kidnappers

Inflation drops to 9.4% in July

Nigeria launches two new satellites

FG to review operations of Free Trade Zones, says Aganga

Okonjo-Iweala sworn in as finance minister

Amakpe refinery project suffers setback

Jonathan promises uninterrupted power supply before 2015

IBB says single term not solution to political problems

Tuesday, August 16, 2011

Investors exiting equities for fixed income market

Finally, inflation hits single-digit after three years

Cement producers say not responsible for hike in price

AMCON loses N230bn in nationalised banks

FG needs additional N11 billion annually to pay minimum wage

FG approves N19bn as compensation for power projects

Nation’s banks to vote on deals by Sept 30 –AMCON

Nigeria facilitates $60m W/African sea link project

Nigerian banks: The threat to growth

Army General arraigned over Boko Haram suspects' escape

Consumption of processed foods increases risk of health complications

Don't scrap state, LGCs’ joint accounts, ACN tells Jonathan

Renaissance Capital appoints Yvonne Ike CEO, W/Africa

Aba gets international trade fair status

Nation’s inflation falls to more than 3-year low

Fighting corruption is dangerous, says EFCC boss

‘FG will not scrap colleges of education’

Monday, August 15, 2011

Nationalised banks sought AMCON’s recapitalisation

Flood puts property market in fresh crisis

Cement price shoots up 67% as importers’ certificates expire

NNPC looks to Japan for $2bn to fund Brass LNG

Probe Obasanjo now, Colonel Umar urges FG

Bomber killed in failed attack on Nigeria police

Mikel pleads for safe return of dad

15 die in fresh Jos crisis

Strike: FG threatens civil servants with ‘no work, no pay’ policy

Oil reforms to cost Nigeria $3bn a year – auditors

8 feared killed in Jos night attack

FG to launch Nigeria SAT-X Wednesday

Immigrations repatriates 3,185 foreigners

Sunday, August 14, 2011

Opportunities in Lagos Lekki corridor grow as investors pour billions of naira

Declining investments threaten domestic gas supply, power target

FG, States, LGs spend N8.37 trillion in 2010

NUPENG urges investor-friendly PIB for oil & gas sector growth

MOSOP gives FG 30 days’ ultimatum for action on UNEP report

Jonathan has not jettisoned single-term proposal, says Abati

Presidency approves allowances for ex-militants in N/Delta

Saturday, August 13, 2011

BPE probe: Former deputy director admits to collecting bribe

Unpaid salaries threaten Bayelsa industrialisation drive

Revisit Niger Delta disarmament, lawyer urges FG

Research crucial to nation’s cassava revolution, says agric minister

Mixed reactions greet FRSC’s new number plate, driver's licence

NLC wants Senate to continue probe on sale of public enterprises

FG distributes 616 bln naira to govt for July

Interbank rates rise on NNPC cash withdrawal

Friday, August 12, 2011

FG requires N650m to revamp Ajaokuta, says minister

Enforcement of compulsory insurances begins September –NAICOM

EFCC puts PEF boss under surveillance, seizes her passport

Anti-graft war: We’ll make Nigeria unsafe for criminals – EFCC

NGO faults NJC’s verdict on Kastina-Alu, Salami feud

Somalia famine is worrisome, says Jonathan

SA’s clothing giant targets Nigeria, plans 50 outlets

South-South NUJ cautions political class against tenure elongation

GT Bank records 38% rise in PAT

NMA wants speedy assent to National Health Bill

Okonjo-Iweala aims to diversify Nigeria's economy

Jonathan eyes stronger ECOWAS Parliament as Ekweremadu becomes Speaker

Sterling Bank says to buy rescued ETB

Thursday, August 11, 2011

Committee of lawyers dissuades Salami from apology to CJN

EFCC grills PEF boss over multimillion-naira fraud

CPC wants tribunal to deliver judgment in its favour

Tenants jubilate as Lagos State promises rent law enforcement

Bad roads, poor driving raise half year accident deaths by 21%

Analysts urge depreciation, dollar supply to bridge exchange rates

Nigerian economic reform heavyweights set for tussle

April polls have restored nation’s image, says INEC commissioner

63 million Nigerians not properly housed – CBN

Obasanjo blocked sale of Nigeria Airways, says el-Rufai

World Bank ties poor infrastructure to nation’s unfriendly investment climate

FG mulls launch of emergency health call centres nationwide

EFCC recovers N1.8trn in 8 years

IPMAN blames FG for scarcity, high cost of kerosene in S/East

South Africa's Standard Bank halve capital utilisation in Nigeria

Economic reform heavyweights set for tussle

Wednesday, August 10, 2011

Market continues free fall, loses N59bn in a day

Abiola, Yar’Adua, Habib Pakistan, lose billions in nationalised banks

Fresh mergers & acquisition deals imminent in small telcos

36 states, FCT owe $2.22bn external debt in H1’ 2011

FG approves augmentation of East-West road with N106bn

Naira eases on strong dollar demand

FOI law will deepen democracy, says Orji

Ajimobi mourns Kolapo Ishola, Sam-Loco

Nigeria, US commit to power sector reforms at energy summit

Tuesday, August 09, 2011

Keystone, Mainstreet pay N70bn, N50bn CBN debt

Growing interest, fraud drive unclaimed dividends to new high

Nationalised banks:Governance issues scuttled deals with suitors

Media lose N30 billion to advertising agencies’ ‘greed’

Former Oyo Governor Ishola dies at 77

FG, UNDP to roll out N/Delta development framework soon

FG to employ 300,000 graduates through data digitisation

CBN : Nigeria's forex reserves hit 6-month high

Mofe-Damijo blames Sam Loco's death on excessive stress

London riots: Tafida, groups say Nigerians are safe

FG to take stand on Ogoniland oil spill report soon, says Allison-Madueke

Monday, August 08, 2011

Why we nationalised AfriBank, Bank PHB, Spring Bank, by NDIC

Stock market suffers N138bn loss

Declining investment: NNPC warns joint venture partners

Nigeria investigates ‘al Qaeda’ hostage video

FG sets KPI standard for assessing ministers, heads of agencies

Passenger service charge: Airlines commence fare reduction

Oshiomhole, Uduaghan, others mourn Sam Loco

MTN plans $1bn investment in network upgrade

Edo organised labour calls off strike

Minimum wage: Don't applaud FG yet, labour leader tells Nigerians

Sam Loco’s death a great loss to Nollywood -- Zebrudaya

Naira gains on NNPC dollar sales

Chime distributes self-employment equipment to 60 physically challenged persons

Sunday, August 07, 2011

NSE projects $1trn market capitalisation by 2016

Nigeria’s economic projections threatened by fresh global crisis

Okonjo-Iweala begins work in US, meets Citi, JPMorgan, top investors

AMCON appoints CEOs, chairmen, boards for nationalised banks

5 prisoners escape PH maximum prison, 2 apprehended

18,163 ex-militants graduate from post-amnesty training camp

National ID card project eyes financial closure

Nigeria contributes highest troops to Darfur peace mission

Ex-envoy advocates solar energy to boost power generation

Osun agrees to pay workers N18,000 minimum wage

Friday, August 05, 2011

Okonjo-Iweala resumes August 15

FG targets private sector exposure as foreign policy

Jonathan ties delayed take-off of federal varsities to poor infrastructure

Bad roads, poor driving raise half-year accident deaths 21%

UN wants Shell to overhaul oil cleanup process in N/Delta

CBN guarantees 'Bridge Bank' deposits

Dieting can grow into eating disorder says dietician

I have no hand in Kudirat Abiola’s death, says Al Mustapha

Minister lauds FG on number of women occupying ministerial positions

UNICEF team assesses polio eradication success level in Kebbi State

Lagos port takes delivery of 15,000 metric tonnes of kerosene

Thursday, August 04, 2011

Apapa-Oshodi Expressway: Accidents, hypertension may rise, say medical experts

European shares fall to 11-month low over Italy’s debt woes

UN slams Shell as Ogoniland needs biggest ever oil clean-up

CBN wants N2trn pension fund unloaded for infrastructure

Nigeria's Ogoniland needs oil clean-up -UN

Shell faces Nigerian oil spill claims in UK

Wednesday, August 03, 2011

Nigeria slow on economic transformation, says AfDB

Ogoniland oil spills: Shell pay-out could top N62bn

FG’s profligacy continues, withdraws N250bn from excess crude account

Oil slips on US deficit, ratings worries

UN report on impacts of N/Delta oil pollution due Thursday

FG mulls development of minerals, metal sectors for export

Aviation ministry to partner CPC on improved services

CBN extends interbank guarantee to Oceanic Bank

Tuesday, August 02, 2011

Ume-Ezeoke, ex-chair, ANPP dies at 76

Lagos loses aviation hub to Accra on account of liberal agreements

N18,000 minimum wage: Payment begins this month

Don’t negotiate with Boko Haram, FG warns committee

NSE suspends 24 companies, places 9 on technical suspension

Don’t dialogue with Boko Haram, FG tells committee

3 killed, 20 injured in Anambra gunfight

Presidential election: Tribunal fixes hearing of CPC petition for August 15

Monday, August 01, 2011

Nigerian Oil and Gas companies to receive first consideration in oil block bids

Economic interests should drive foreign policy, says Jonathan

FG, crooked officials feed fat on Apapa-Oshodi road misery

Nnaji sacks four CEOs, rejigs PHCN companies

Dangote to establish cement factory in Ivory Coast

Wabara backs Jonathan on proposed single six year- tenure bill

IBB restates call for release of al-Mustapha

Mixed reactions trail presidential probe of NDDC

N250bn bond for major developmental projects - Rivers

Sunday, July 31, 2011

Minimum wage: Labour divided over implementation

Analysts call on FG to follow Lagos lead in budget structure

Nigerians to enjoy cheap sugar as raw material price falls - Report

Apapa-Oshodi road: Pressure shifts to Julius Berger, Borini Prono

Ecobank Transnational, Oceanic Bank in share exchange deal