Businessday Nigeria Archive for October 2011

Friday, October 28, 2011

Market indices appreciate further by 1.43%

Brent Crude rises to $106

Interbank rates rise on budgetary delay

Stanbic Bank pre-tax profit up 9%

Fitch revises Lagos Outlook to stable

Diamond Bank swings to N425.5million pre-tax loss

FG spends $175 million on 'ghost' pensioners

Investors buy 68% of GTAssure for N12.3bn

Transport infrastructure revival hinged on PPP

Thursday, October 27, 2011

New investors buy 68% of GTAssure for N12.3bn

PPP central to revival of transport infrastructure – experts

Ministers to sign performance contract with presidency

MTN Q3 subscribers up 4% , warned by Nigeria

Wednesday, October 26, 2011

Improved earnings for Nigerian banks imminent

Euro-Israeli financiers to invest in Nigeria

Naira weakens on strong forex demand

Fitch expects Nigerian banks' earnings to improve

Weak currencies worsen Africa stocks

Tuesday, October 25, 2011

Governors direct finance commissioners to reject revenue allocations

NCC issues deadline to telcos over service quality

ABB returns to Nigeria, targets power investment

Nine oil thieves jailed for 90 years each

Ecobank concludes buyout of Oceanic Bank

Monday, October 24, 2011

Power generation up 300mw on Shell gas supply

Multi-billion Naira spent on fertilizer subsidy was a fraud

Sanusi sees Naira reaching N155 to dollar

Governors appeal to block sovereign fund

Nigerians seek $1bn from Shell over oil spills

FCMB pre-tax profit up 62%

Naira eases at interbank, forex auction

Flour Mills to raise N28bn capital

JTF arrests 46 oil thieves, seizes ship

Sunday, October 23, 2011

Jonathan’s agenda absent from Senate list

Bank post-merger survival based on performance

Bank customers push for higher rates on deposits

34 commercial-quantity minerals found in Nigeria

Friday, October 21, 2011

Interbank rates rise on low cash

Sterling Bank pre-tax falls by 44%

Bankole, Nafada application against charges dismissed

Fitch : Nigeria's rating outlook to stable

CBN raises forex net open position limits

Thursday, October 20, 2011

Britain to compel UK firms to disclose money paid to FG, says envoy

Security funding to top 2012 budget

GT Bank pre-tax profit grows by 31%

Access Bank grows pre-tax profit

AMCON to buy rescued banks

‘Nigeria rate hikes issue for private sector’

Fitch Ratings affirms Access Bank Plc

N55.67bn bonds sold, yields rise

Wednesday, October 19, 2011

FG targets N4.8trn revenue in 2012

US Eximbank targets Nigerian power sector

Senior layoffs imminent at NNPC over audit report

Nigeria to sell N108bn in treasury bills-CBN

EFCC re-arraigns Fayose over alleged N1.3b fraud

Naira firms in interbank market, stable at auction

NAPE wants gas sector investments encouraged

Ngeria to sell N108bn in treasury bills-CBN

Zenith Bank pre-tax profit rises to 28%

FG to sell N108billion in treasury bills-CBN

Tuesday, October 18, 2011

NSE awaits SEC approval on share buy-back

Sovereign wealth fund takes off in December

Banking stability shaken by falling asset prices

Gunmen attack Exxon Mobil oil platform

Naira firms at interbank, forex reserves up

Union Bank awaits SEC’s approval on right issues

Gunmen attacked Exxon Mobil oil platform

Nigeria’s UK high commission begins new visa regime for investors

Nigeria’s UK high commission begins new visa regime for investorscredible

Monday, October 17, 2011

SEC projects robust capital market by 2016

Collier outlines path to Nigeria ’s economic breakthrough

Banks hike rates on existing facilities

Unions warn Jonathan over fuel subsidy

Naira firms as dollar demand eases

Brent oil nears $114 on debt plan hopes

Naira firms as dlr demand eases

Access Bank completes Intercontinental Bank takeover

Sunday, October 16, 2011

Governors support Sovereign Wealth Fund

'Subsidy removal will fast-track economy'

Credit squeeze hurting business expansion plans

NDIC recovers N22.7bn in 2010

Saturday, October 15, 2011

Protest rallies grip major cities

Inflation rises 10.3%, 12.9m unemployed

Banking stocks lift transactions on NSE

FG tackles banks on corruption

Friday, October 14, 2011

Naira to strengthen-CBN governor

Interbank rates drop on AMCON bond flows

CBN limits forex sales to foreign firms

First Bank on track with loan growth

Unemployment rises to 21.1% in 2010

2011 Q2 imports totalled N3.3tln

Inflation rises to 10.3%

Thursday, October 13, 2011

Ngozi, Diezani lead work on subsidy palliatives

Why forex access is restricted

Market remains hostile over rate hike

World Bank country director assumes duty

FG sells N201.8bn in bills, yields rise

Interbank market halts on dollar shortages

First Bank Q3 pre-tax profit up

Wednesday, October 12, 2011

Naira firms as CBN feeds dollar demand

Deregulation will break cartels, spur competition

PenCom bullish on bonds, investment up 134%

South Africa's Woolworths opens stores in Nigeria

FG sells N55bn in bonds in October

FG sell N55billion in bonds in Oct

Naira firms ahead of CBN forex auction

South Africa's Woolworths open stores in Nigeria

Tuesday, October 11, 2011

Jonathan targets 110,000 jobs in four years

BPE cuts power investors to 150

MPC meeting spurs hostile market

Interbank rates, Bonds rise on rate hike

Naira surges after big interest rate hike

Shell to lift crude oil Forcados force

Monday, October 10, 2011

Hard times for borrowers as CBN raises MPR to 12 percent

CBN makes strongest case yet on subsidy, push for PIB

Analysts turn screw on fiscal managers after MPC meet

CBN hikes rates to help naira

Equities bleed as NSE ASI dips 0.59%

Shell declares force majeure on Forcados oil

Nigeria loses N153bn in paper sector

Naira hits all-time low against dollar

oil workers in 3-day strike

Interest rates must rise-Ngama

Naira, bonds fall ahead of CBN meeting

More volatile food prices likely, UN says

Sunday, October 09, 2011

Oil price drop to cut $28bn from revenues

Blackout likely as five gas stations shut down

MPC meeting may adjust exchange rate band

Friday, October 07, 2011

NSE ASI sheds 1.38%

Interbank rate steady as banks use CBN window

Naira strengthens ahead of CBN meeting

CBN calls extraordinary meeting on Oct 10

Thursday, October 06, 2011

Tariff, service failure top NCC, CBN consultation

Naira falls to all-time low

Dangote plans $4m Congo cement plant

Profit taking dips equities market

CBN to stop oil firms buying dollars

SMEDAN, SEC plan funding for small businesses

NNPC seeks debut $1.5bn loan

Airtel customers cut off from network

Airtel customers cutts off from network

Naira hits fresh all-time weakest level

NNPC seeks debut $1.5 bln loan

Dangote to build cement plant in Ethiopia

Apple founder Steve Jobs dies

Wednesday, October 05, 2011

Plan for cashless economy troubled

FG to scrap excess crude account for SWF

CBN weighing options for Naira valuation

Stocks rally further at Nigerian Stock Exchange

FG to sell N156-N215 billion in bonds in Q4

CBN won't defend naira at all costs

Naira hits weakest ever on CBN

FG to end fuel subsidies

Tuesday, October 04, 2011

Poor oil receipts, reserves hit nation's Eurobond

N/A targets revenue expansion

Government fires aviation agencies’ chief executives

Nigerian crude slips on slowing demand

NSE ASI up 1.022%

Okonjo-Iweala set to implement wealth fund

Factors to watch in OIL & GAS industry

OIL & GAS risks to watch in Nigeria

Monday, October 03, 2011

N250bn subsidy for electricity consumers underway

Zambia’s CEC moves for PHCN distribution firms

Rivers mulls power sufficiency with N75bn

Zambia's CEC looks to buy PHCN

Sunday, October 02, 2011

Nigeria risks ‘hot money’ with MPR hike

FG to check insecurity with high-tech equipment

Poor reform linked to skyrocketing cost of business at ports

Financial experts tasked on anti-unemployment measures

Wema Bank appoints two new directors

US signs $.3m grant with Nigeria