Businessday Nigeria Archive for May 2012

Wednesday, May 30, 2012

Naira weakens on short dollar supply

Nigerian Prince offers £100 for stolen bike

Jonathan’s macroeconomic scorecard, one year after

Tuesday, May 29, 2012

NAICOM guideline on takaful insurance ready July

Jonathan takes foreign rice off government menu

Oil bill waters down its reform, weak on transparency

60 % of youths in Africa give up finding jobs - AfDB

FG owes N185bn judgment debts – Jonathan

Jonathan to present new oil bill in June

Monday, May 28, 2012

62 stock broking firms face penalty over quarterly financials

Tampering with CBN autonomy will hurt economy - Sanusi, Ciroma, Nwankwo

Fear robs local investors as foreigners swoop on equities

Oando gains, heads for longest streak in 3 weeks

Nigerians smile to the bank after UEFA Champions League

Pensions scam: CBN indicts banks

Sunday, May 27, 2012

Oando to acquire 40% participating interest in Qua Iboe oilfield

Analysts warn against amending CBN Act, question lawmakers’ motive

Naira hit as portfolio inflows waver on Euro debt crises

Increase in Electricity tariff will bring investors-Governors

PPPRA scrutinises 2 foreign firms, suspends First Deepwater

Saturday, May 26, 2012

Africa contributes less than 1 % world manufactured goods - Aganga

Nigeria may reduce reserves of Euros to minimize risk - CBN

Friday, May 25, 2012

Interbank rates tumble 4 percentage points

New PIB draft being finalized

Thursday, May 24, 2012

IMF warns against stripping CBN of its autonomy

NestOil, Oilserve win deal to build $400m gas pipeline

Nigeria’s non-store shopping up 25% to N62bn in 2011

Dangote cement to produce 60m tonnes by 2015

Nigeria’s active mobile subscriptions hit 99.14m

Jonathan orders audit of students at UNIABUJA

Wednesday, May 23, 2012

Respite for equities as new guidelines compel PFAs to 10% minimum investments

FRC blasts Forte Oil over N24.7bn phantom shares, asks ICAN to postpone AGM

Fuel imports down by 27 million litres on subsidy removal

Oando's shares fall to an 8-year low

Dangote blames capital market near crash on weak regulation

Tiger Brands sees 30% revenues from Africa

Tuesday, May 22, 2012

UBA, Access, Diamond drive banking stocks gain in 19 weeks

Fuel subsidy probe: Presidency succumbs to pressure

MPC rides on growth concerns to keep rate at 12 percent

Lagos state closes down worship centres

Jonathan orders EFCC to spare no one indicted in subsidy fraud

CBN retains 12% interest rate

Reps summon power minister, NERC over new electricity tariff

Software piracy in Nigeria remains high

Monday, May 21, 2012

Fears for bond market liquidity as market makers flounder

Nigeria risks oil price shock

Access Bank, Intercontinental merger wins M&A award

Telcos lobby to overturn NCC's N1.17bn fine

Consolidated breweries profit suffer as operational costs increase

Sunday, May 20, 2012

Nigeria’s cocoa output may be cut by 50%

New PIB draft avoids biggest worries

Consumer goods stocks lead in 11% market rebound

Consolidated Breweries attributes decline in profit to increasing operational costs

Gas flaring drops to 14 per cent

Bankers institute focuses on technology, others

Saturday, May 19, 2012

Drogba fires Chelsea to Champion League glory

Friday, May 18, 2012

UBA shareholders bemoan CBN on N81bn CRR

FG to set up task force on oil theft

NSE trading ends on a negative note

Total plugs major gas leak

Nigerians spend too much on packaged goods

Thursday, May 17, 2012

Nigeria’s consumer spending on packaged goods tops in Africa

Insecurity deepens North, South economic divide

Law to compel multinationals to list on NSE underway

IOSCO/AMERC signs regional MoU as conference ends

Fidelity Bank declares 14 kobo per share dividend

Naira gains first day in two weeks

Olorunsogo plant set to light up industries

NSE penalises stockbrokers for non-rendition of Q1 financials

Manufacturers take flight over insecurity

Wednesday, May 16, 2012

Discrepancies in payment of various estacode to individuals identified (14)

FG assures on power evacuation at Olorunsogo plant

Mixed response as RenCap looks to consumer banking foray

Manufacturers hit, pull out on security concerns

PHCN N88.44bn debt holds power supply hostage

KPMG exposes the inconsistent payments in Maina's biometric exercise

Nigeria and Mauritius strengthen financial ties through MOU

Power supply gets boost as gas pipeline nears completion

Foreign computers lose to FG ban

Tuesday, May 15, 2012

No sufficient data in respect of estacode, DTA paid for biometric exercise (13)

Boost to power supply as Olorunsogo gas pipeline nears completion

HP, LG to lose as FG enforces ban on foreign computers

Sterling Bank posts N4.6bn PAT

Transactions on volume of shares increase by 53 per cent

Oteh returns as Chairperson of AMERC

How Maina opened 'irregular' bank accounts

Inflation rises to 12.9% in April

Monday, May 14, 2012

More allegations of irregular opening, maintaining of bank accounts by Maina (12)

Presidency moves to review ministers’ performance

NSE constitutes new board of trustees to oversee N635m Investor Protection Fund

N705bn ports investments create 15,000 jobs

NSE indices drop by 0.31 per cent

AFC targets $3bn investments in sub-Saharan Africa

Shell loses 43,000 bpd to theft

Sunday, May 13, 2012

PPO’s revised data fraught with inconsistencies (11)

Oversized influence of bank stocks led to capital market collapse

Financial reporting council risks losing FG support

CBN to boost economy with microfinance fund

Etisalat blames poor services on inadequate power supply

Saturday, May 12, 2012

BPE to announce power privatization winners in October

Friday, May 11, 2012

Firm invests N5bn in vegetable production

Total to stop Niger Delta gas leak in "few days"

NSE market indices grew by 0.49%

NCC fines MTN, others N1.17bn over poor service

Interbank rates climb to 14.16 % on cash shortage

NEC approves electricity tariff hike

New underwater cable for Nigeria goes live in 2014

Thursday, May 10, 2012

PPO staff claim supplementing running costs from monthly allocations for payment of pensions, arrears, gratuities (10)

Stakeholders push for cement-based roads

Dangote to spend $7.5bn on expansion

Cement producers say poor gas, LPFO supply killing business

SEC chiefs draw the sword as fued heightens

Power generation from Kainji Dam drops by 38mw

NSE turnover drops by 31.3%

Airline operators want probe of airports’ remodelling cost

Wednesday, May 09, 2012

No plan to change ministers now – Jonathan

NCC steps in to reduce internet service cost

Planned banks’ stress test unsettles industry

Funds were moved from highest interest yielding accounts to lower interest yielding accounts (9)

Bloomberg CEO shares optimism of a more vibrant Nigeria financial system

Investigators could not ascertain taskforce’s penchant for frequent transfers (8)

Power sector privatisation on track - BPE

Intercontinental masked losses as profit in Ghana subsidiary

Nigeria gets help on groundnut production

Okereke-Onyiuke queries NSE over new trading platform

Ranbaxy plans new plant for Nigeria

Tuesday, May 08, 2012

Conocophillips sells Nigerian assets

Firm completes four power projects in Lagos, Kaduna

Monday, May 07, 2012

Only 644 pensioners were entitled to benefits - Maina (7)

Jonathan warns BPE against messing with power privatisation

Breather for business as traffic flows on Mile 2-Apapa road

Rescued banks defraud investors N106bn - SEC audit

Traffic flows again on Mile 2-Apapa corridor

Tiger Brands in talks with Dangote over flour unit

Dangote may sell 80 percent of its food business to foreign investors

Sunday, May 06, 2012

18 beneficiaries of N9bn pension didn’t receive payment (6)

Inflation, lower income to squeeze beer market in 2012

AMCON to sell Mainstreet, Enterprise, Keystone on capital market

Private equity firms bullish in real estate financing, development

Total bores relief wells to tackle Ibewa field gas leak

IoD convention to focus on business sustainability

Saturday, May 05, 2012

Shell shuts down Nigerian pipeline due to theft

Customs record N57.9bn revenue in Apapa port

Friday, May 04, 2012

SHELL declares force majeure on Bonny Light Loadings

Nigeria’s N6trn debt manageable, says Okonjo-Iweala

Air passengers demand respect from air operators

Army, Navy, Police to clear Mile 2-Apapa road

Thursday, May 03, 2012

No document to support Maina’s allegations (5)

Nigeria to top inflow with $23bn FDI per year, 95,000 new jobs expected

PIB goes public in six weeks, says ministerial committee

First Bank commits N500bn facilities to finance oil, gas operations

More ‘dirt’ uncovered in KPMG pension probe

FEC approves N8.2bn for inland water ports, dredging works

Bonga gets $30m boost with AVEON contract

Wednesday, May 02, 2012

Bonga development gets boost as Shell Nigeria, others enter $30million contract

Protest FG waivers on rice, cement, says Oshiomhole

Intercontinental execs traded in unclaimed dividends

Maina’s incriminating allegation 4

GTBank rises to 4-Year high

Tuesday, May 01, 2012

Labour decries growing unemployment, inflation, calls for unbundling of NNPC

Fashola says Lagos will no longer pay FG’s imposed wage increase

KPMG’s most revealing report on Nigeria’s pension scam (3)

Sorry state of PH refinery moves committee to tears

Samsung's pipeline and undersea welding trainees return home

MTN staff protest suspension of members in Jos

NCC releases draft MNP guidelines for inputs

Monday, April 30, 2012

Guinness names Nigeria’s Adetu new CEO

Employees of Total, Oando, Mobil best paid in sector

Banking recovery lures funds back to Nigeria stocks

KPMG’s most revealing report on Nigeria’s pension scam (2)

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