Businessday Nigeria Archive for September 2011

Thursday, September 29, 2011

NSE All-Share Index gains 0.58%

Sanusi re-affirms support for non-interest banking

Ecobank to raise N450bn after Oceanic acquisition

Wednesday, September 28, 2011

No automatic listing for new products

Why PIB failed to pass, by Mark

Cartel frustrates NNPC audit release

Naira firm at auction, falls at interbank

Fidelity, Access shares drive volume

‘Nigerian funds switch to bonds’

Brent crude oil falls below $107

Tuesday, September 27, 2011

Growing middle class needs infrastructure

Minister’s plan endangers health insurance scheme

Publishing firms troubled as reading wanes

Shareholders approve ETI acquisition of Oceanic Bank

Nigeria joins fastest growing economies

Equities performance stands negative at 19.20%

Shares soar on eurozone rescue plan

SEC DG rings bell at NYSE

Oceanic Bank wins approval for ETI merger

Monday, September 26, 2011

Rising middle class now 23% population

Shareholders approve Inter-Access Bank merger

Credit lending up 9% in 6 months

Sunday, September 25, 2011

Sanusi, FirstBank, Stanbic IBTC bag awards

Oando commits N1bn to education

Shareholders face crucial decision on rescued banks

Thursday, September 22, 2011

Advisory committee gets December deadline on demutualisation

Naira pressure adds to manufacturers’ woes

Global economy in danger zone

NSE mulls options market by 2013

Wednesday, September 21, 2011

Lafarge Cement to raise N50bn bond

Nigeria to gain from FMO’s $1.2bn investment

Wapco Cement issues N50 billion bond

Wapco Cement issue N50 billion bond

Tuesday, September 20, 2011

CBN challenged by foreign reserves strategy

Bond yields down, equities defy rate hike

Dangote starts $115 million cement project in Cameroon

Monday, September 19, 2011

MPC raises benchmark rate to 9.25%

AMCON to step into rescued banks if TIAs fail

MPC raises interest rate to 9.25%

Equities dip as UAC-Properties leads gainers

Naira low on strong dollar demand

Interco votes on Access merger September 26

Stock markets fall ahead of Greek debt crisis

CBN decides on Interest Rate

Sunday, September 18, 2011

FG flayed over spectrum management

Stock market loses N1.3trn in 3 months

Friday, September 16, 2011

Flour Mills to raise N28.2bn by rights issue

BusinessDay plans asset-backed securitisation seminar

NSE ASI sheds 51.58points

2012 budget deficit by 3%

CBN -Interest rate may edge up

Thursday, September 15, 2011

Nigeria advocates regional capital market

Adoboli nabbed over $2bn 'rogue trade'

Corporation records N25bn loss in Enugu mines

'Incompetent distribution companies excluded from tariff regime'

FIRS, Customs expend N43.60bn on revenue collection

NSE ASI retraces 0.19%

Banks act amid new crisis warning

PZ pays shareholders 86k dividend

FG revives nuclear commission

Eurozone coming to a standstill

FG sells N70billion naira in bonds-DMO

Wednesday, September 14, 2011

CBN faults army, police pension withdrawals

N5.93trn spending not reflecting on healthcare, education

Inflation falls slightly ahead rate decision

Naira weakest in one week vs dollar

Equity market halts uninterrupted decline

Ogun spends N1.6bn on education

Pensioners want alleged N50bn scam probed

N77bn illegal fuel subsidy worries Senate

Nigeria’s inflation slips to 9.3%

Gabon adopts diversification as economic fulcrum

BPCL buys 3 mln barrels of crude

Tuesday, September 13, 2011

Analysts forecast ‘long haul’ volatility for capital market

Mayor leads investment advisors to lure Nigerian firms to LSE

Twenty-five shareholders’ groups support CBN banking reform

Nigerian equities market continues bearish trend

Mayor leads UK investment advisors to lure Nigerians into London Stock Exchange

IMF sees changes in asset allocation strategies of private, institutional investors

IOC seeks more crude tender for Nov

Monday, September 12, 2011

Capital market dependence on foreigners dangerous

Mayor advises on nation's global competitiveness

Government spends N5.93trn in seven months

Equities down to 2005 levels

SAA Group net profit up 77%

FG plans trade centre in Kosovo

Equities market favours bears

GGBL set for GHS70m Renounceable Rights Issue

Okonjo-Iweala : 2012 budget ready by November

Union Bank shareholders get 21% shareholding

Banks face major reorganisation

Sunday, September 11, 2011

Okonjo-Iweala embraces transparency, publicises govt allocations

Nigeria, Angola drive $1.37trn assets growth

Hedge funds pullout dims market recovery

Friday, September 09, 2011

Deloitte says coordination challenging for IFRS

IMF asks policymakers to boost growth

interbank rates up on cash outflows

Investors to get 60% of Union Bank

Nigeria sells N140bn in treasury bills

Nigeria's hot money invite falls flat

Woolworths ramps up Africa expansion

Thursday, September 08, 2011

Economic Management Team unveils agric roadmap

Low bargain returns NSE benchmark indices to red zone

Tower Funding plc issues N4.63bn bond

Ekiti finalises N25bn bond fundraising

FG secures N3trn investment commitment in 100 days

Nigerian crude under pressure from margins

Nigeria to sell N70bn in bonds September

Commercial activities pick up in Jos after violent clashes

12 Nigerian research agencies to get $5m from World Bank

NSE market indicators rise by 0.46 %

China says yuan to be fully convertible by 2015

Wednesday, September 07, 2011

How NDIC, Afribank board letters caused nationalisation of banks

Corruption, govt inefficiencies, security concerns stall Nigeria’s progress on competitive rankings

CBN may raise interest rate if inflation not below 10%

NSE approves three new issues

Stocks’ gain drives NSE market capitalisation higher

FG builds 50MW plant to power Kaduna airport, Defence Academy

Naira slips to 11-week low as CBN fails to meet demand

WAfrica Crude: Nigeria eases from highs despite Asia demand

UK police make fresh arrest in phone hacking case

FCMB seeks shareholder approval for Finbank deal

Tribunal to commence hearing on CPC petition against Jonathan September

World stocks, euro rebound after battering

‘Gaddafi last tracked heading south’

Northern governors to meet over regional security

FG says non-oil sector performance enhanced nation’s economic growth

Tuesday, September 06, 2011

SSS discovers bomb factory in Niger State, arrests six people

Dantata warns economy sliding as ACF blames Northern governors for poverty

Terrorists attacks caught us unawares, Azazi admits

Ex-bank PHB chief Atuche loses bid to stop trial

I stand by my words on OBJ, says IBB

Libya troop convoy enters Niger

WHO says African countries unlikely to meet MDGs by 2015

Bauchi approves implementation of N18,000 minimum wage

Bomb factory discovered in Abuja, six people arrested

Sanusi sees China yuan becoming reserve currency

Monday, September 05, 2011

CBN to hold 5 – 10% of forex in Chinese Yuan

Rising global demand fuels charcoal production

Yunus, Nobel Laureate, faults Nigeria’s microfinance banking

Governors’ stance against $2.62trn global SWF practice

Two killed, several injured in Third Mainland auto accident

Minimum wage: NUJ, RATTAWU shut LTV, Radio Lagos

Reps vow to expose corruption among MDAs

Naira eases on dollar supply shortage

World stocks slide on economy, debt fears

CBN investigates seven commercial banks over foreign exchange round-tripping

Indian bus accident kills 15

Lagos House of Assembly polarised over Ikuforiji

Suspected Boko Haram militants kill 55-year-old in Maiduguri

Sunday, September 04, 2011

Oando shareholders receive N5.4bn dividend

Drying Lake Chad puts 30m lives on edge

W/Bank bemoans FG’s policy implementation, accountability

Phone makers battle for Nigeria’s N245bn broadband device market

Libya conflict: Bani Walid siege talks 'have failed'

Jos: STF soldiers get mandate to shoot on sight

Stray cows disrupt flights at Kaduna airport

Give Ofehe fair hearing, ERA tells Dutch authorities

Jonathan pledges to restructure Nigerian missions abroad

Libya pro-Gaddafi town surrounded

Amakpe refinery requires N3bn for completion

Jos Christians troop to church in face of attack rumours

Chile air crash: 'All 21 on board died instantly

Saturday, September 03, 2011

3 feared dead in Borno

Libya spy papers 'show CIA links'

Sarah Jibril says terrorism contrary to nation`s traditional value

Global economy in ‘danger zone’, says World Bank president

Minister summons WAEC boss over conflicting results on official website

FG threatens sanctions on parents defying UBE Act

Friday, September 02, 2011

Onne Customs Command generates N34. 9bn

Firm plans $100m oil refinery in Abia

EFCC arrests Lagos Speaker, Ikuforiji, over 70bn fraud

Interbank rates ease on T-bill maturities

NULGE appeals to governors over N18,000 minimum wage

Oceanic Bank to transfer 40.17 pct to Ecobank

Row in nation’s space agencies deepens

FG announces burial committee for Aikhomu

Jos clashes kill 22 - morgue official

Thursday, September 01, 2011

How clubs can attract investors - Analysts

Naira has 40% devaluation chance in 2012 on oil, imports, Renaissance says

Afam Rivers power project triggers true federalism debate

Ex-CEOs, EDs of rescued banks get millions in severance pay

Activist sues Jonathan, Anyim over FCC chairman's re-appointment

NEMA sends 420 tons of relief materials to Ibadan flood victims

FAAN to intensify security at airports

FG expresses concern over killings, impunity in Libya

I will fight on, says Gaddafi

Fish, poultry farmers lose millions to flood; send FG, Oyo SOS

Access Bank says Intercontinental shareholders to get 10%

Minimum wage: Plateau workers commence indefinite strike

Libya forces extend Sirte surrender deadline

NASRDA says ahead of schedule in commissioning of Nigeria Sat-2, Sat-X

Gaddafi called Algerian president -media report

Soldiers gun down 2 Boko Haram suspects

Gaddafi believed to be in Bani Walid, says NTC commander

NDLEA seizes 2.88kg drugs in 10 years

Gaddafi sons broadcast confusion as battle looms

Wednesday, August 31, 2011

Paris meeting to focus on Libyan politics, economy

Nigeria’ revenue under threat as US Sovereign rating gets down grade

Shell, Malabu $1.3 billion oil deal questions FG indigenisation plan

SSS says Boko Haram, al-Qaeda link behind UN office attack