Hassan Sunmonu, the mediator appointed to negotiate and reconcile government and members of the organised labour over unresolved issues concerning the full privatisation of the Power Holding Company of Nigeria (PHCN), has said he would begin to collect memoranda and other submissions from concerned parties after next week. Mr Sunmonu, who is chairman of the committee, said yesterday that memoranda…
21 April 2011 Tens of thousands of euphoric Real Madrid fans welcomed their team home to the Spanish capital in the early hours of Thursday after they clinched their first Spanish Cup win since 1993. Supporters, many wrapped in the club's flag, cheered as the squad arrived Madrid's central Cibeles Square, the traditional home for raucous Real Madrid victory celebrations,…
21 April 2011 Cameroon have taken a giant step towards the semifinals of the 2011 African Youth Championships with a hard-fought 1-0 victory over Nigeria on Thursday. The only goal of the game was scored in first-half injury-time by Franck Ohandza and the result leaves Cameroon on top of the pool with six points and with one foot in the…
The management of Obafemi Awolowo University, Ile-Ife, has ordered the re-opening of the institution on April 27, 2011. The institution was closed on February 23rd, 2011 following a protest by students over alleged increment of fees. The students had challenged the 1,000 percent increment of the acceptance fee paid by new students from N2,000 to N20,000. A statement issued yesterday…
A mob in Keffi Local Government Area of Nasarawa State yesterday invaded the residence of the sacked chairman of the council, Mohammed Idris, over the outcome of last Saturday’s presidential election in the state. The angry protesters, who broke into the house located on Abdullahi Maigari Street at about 3:30am in the early hours of Wednesday, overpowered the security officer…
The Ibadan Elders’ Forum (IEF) on Wednesday endorsed Abiola Ajimobi, the Oyo State governorship candidate of the Action Congress of Nigeria (ACN), as its consensus candidate during next Tuesday’s election. The group had supported Mr Ajimobi when he contested for the post on the platform of the All Nigeria Peoples Party (ANPP) in 2007, a bid that failed. Addressing reporters…
The residents of Abua, a suburb of Makurdi, Benue State capital, are living in fear following the attack on them by people alleged to be Fulani herdsmen. Most of the villagers in the area are now taking refuge in the main town of Makurdi and other places. Trouble started last week when the Fulani wanted their cattle to graze on…
The deputy national chairman of the Labour Party, Joseph Akinlaja, yesterday said the leadership of the party has ruled out the possibility of merging with any political party in the country for now. “As of today, we have not decided whether to merge with any political party; we are not even contemplating it at all. Labour Party is growing everyday.…
The result of Saturday’s presidential election has left the people of Bayelsa State ecstatic. While anger and frustration gave way to violent protests in parts of the North, people in the South-South are happy that their son, Goodluck Jonathan, was declared winner and president-elect by the Independent National Electoral Commission. In Yenagoa, the Bayelsa State capital, celebrations started on Monday,…
The recent chaos and post election violence in some parts of the north have been described as a bad signal to investors and the international community. Assessing the impact and the implications of the crises, finance experts and industry analysts said how it affects the economy and the confidence of investors who may want to invest in the country depends…
The successful issuance of the $500 million Eurobond in January has improved Nigeria's path towards being regarded as an emerging market economy. The director general of the Debt Management Office (DMO), Abraham Nwankwo, in his keynote address at the two-day workshop on ‘Investments in Bonds and Securities in Emerging Economies' organised by the Chartered Institute of Bankers of Nigeria in…
Tokunbo Ishmael, Principal Partner in Alitheia Capital, says value of impact investment in Africa has the potential to exceed 500 billion dollars over the next decade. Mrs. Ishmael described impact investing as investment strategy whereby an investor proactively seeks to place capital in business that would have intentional social or environmental goal. She made the observation in an article on…
The market capitalisation of equities at the Nigerian Stock Exchange, on Monday, rebounded to N8.086 trillion as investors scramble for Transcorp and banks' stocks. The market capitalisation had plunged middle of last month from the N8 trillion region following low confidence in the market as a result of political uncertainty. However, the Exchange's capitalisation of the 194 First-Tier equities closed…
Nigerian stocks rose their most in more than one month on Monday to the highest since mid-March as the completion of presidential elections held the promise of renewed inflows of foreign money. Although rioting erupted in largely Muslim northern Nigeria after results showed victory for President Goodluck Jonathan, Nigeria's All-Share Index rose 2.8 percent to cross the psychologically important 25,000…
In its bid to boost sanitation coverage in Nigeria, the National Task Group on Sanitation (NTGS) is set to establish an international centre for information on sanitation in the country. Obioha Agada, the Chairman of the group, disclosed this on Monday in Abuja in an interview. Mr. Agada, who also is an acting Director in the Federal Ministry of Water…