Two months after 11 people lost their lives in a boat mishap near Calabar, the capital of Cross River State, another boat has capsized in the same river killing four of the passengers on board, including the boat operator. The latest incident has further instilled fear over marine transportation across the river from Calabar to Creek Town, as boats capsize…
The feud between the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) over the two factions of the Association of Senior Staff of Banks, Insurance and other Financial Institutions (ASSBIFI) is still pending at the National Industrial Court. The two unions are embroiled in a battle of wits over where the union belongs. A faction claims it belongs…
A total of N5.85 billion was repaid as loans by Nigerian farmers under the Agricultural Credit Guarantee Scheme Fund (ACGSF) last year. The highest repaid amount of N769.15 million, representing 13.15 percent of the total, was made by Delta State, followed by Katsina and Adamawa states with N667.21 million and N532.64 million, respectively. Ekiti had the lowest repayment figure of…
The Central Bank of Nigeria (CBN) yesterday set end of June as deadline for full compliance to the proposal for the implementation of uniform customer bank account numbering system in the country. By that date, only banks with the Nigeria Uniform Bank Account Number (NUBAN) codes and validation test pass would be allowed access into the automated clearing system by…
27 April 2011 Manchester United boss Sir Alex Ferguson basked in the 2-0 Champions League semi-final first leg win over Schalke on Wednesday and admitted that his team now face a crucial seven days. United tackle Arsenal on Sunday and fellow Premier League title rivals Chelsea the weekend after with the return European leg against Schalke sandwiched in between. "I…
27 April 2011 English side Chelsea have confirmed Michael Essien is not injured as initially feared which means he is on course for a Black Stars return in June as widely speculated. This also means Essiens charity game between an African XI select side and a World XI select side the AU Peace Ambassador has lined for 25 May will…
The primate of the Church of Nigeria, Anglican Communion, Nicholas Okoh, has appealed to politicians who won their elections to show restraint and humility in victory, while all who lost elections should take it in the spirit of sportsmanship and hope for another opportunity next time. Mr Okoh, who spoke with journalists in Abuja, also called on the federal government…
With less than 24 hours to the rescheduled gubernatorial and state House of Assembly election in Bauchi State, the state police command yesterday declared a 24-hour restriction on movement across the state, especially for people travelling from outside the state. The state police commissioner, Amanam John Abakasanga, who addressed journalists at the command headquarters in Bauchi on Tuesday, said the…
Goodluck Jonathan said yesterday that the rescheduled elections in Bauchi and Kaduna States will hold on Thursday as planned, but if the elections were not held, the federal government may be forced to impose a state of emergency in the two states. Mr Jonathan said this while talking to journalists after voting in his hometown, Otuoke, Bayelsa State, adding that…
The Nigerian Stock Exchange recorded a total loss of N449 billion on equities at the close of trading activities in March, after recording significant losses of N260 billion in the preceding month. The market value of the 217 listed equities, which opened the month at N8.315 trillion, closed on the last trading day in March at N7.866 trillion, reflecting a…
Officials of both the World Bank and the African Union (AU) in Addis Ababa have launched the 2011 World Development Report, published by the World Bank. Sarah Cliff, a World Bank Representative, and Ramtane Lamamra, the AU Commissioner for Peace and Security, represented the two bodies at the occasion. Presenting the executive summary of the report, which was titled ‘Conflict,…
Bankers have expressed optimism that the sector would be better disposed to create new assets by increasing their loan facilities to more applicants this year. This is because some of the banks in their 2010 year end books have demonstrated that with the intervention of the Asset Management Company (AMCON), they have been able to clear their non performing loans…
The chief executive of Ecobank Nigeria Plc, Jubril Aku, has advised the Federal Government to be cautious over its huge expenditure. Mr Aku, who was speaking with Business Editors last week in Lagos, said that the issue of fiscal dominance had become a problem in the country because of the structure of Federal Government revenues. He said this was so…
Wall Street wavered, oil slipped, and the dollar weakened further against the euro in thin trading on Monday, as major European markets were shut for Easter. U.S. stocks were little changed, just below three-year highs, after strong first-quarter earnings. Seventy-five per cent of SP 500 companies that have reported beat analysts’ expectations, just above the average of the past four…
The dollar won a reprieve on Monday after last week’s steep slide but traders said it could head for a test of its all-time low against a basket of currencies if the U.S. Federal Reserve takes a cautious stance towards tightening later in the week. In thin trade due to Easter holidays in Australia and much of Europe, Japanese importer…