Uganda's Central Bank plans to raise the minimum capital requirement for commercial banks by March 2013 to boost their ability to absorb shocks and put the country's financial system on a par with others in the region. Elliot Mwebya, the Central Bank's director of communications, said banks in East Africa's third largest economy would be required to increase capital bases…
The value of equities at the Nigerian Stock Exchange (NSE) yesterday rebounded appreciably after negative performances. The NSE market capitalisation of the 194 First-Tier equities closed on Wednesday at N8.077 trillion, after opening the day at N7.983 trillion, reflecting 1.18 per cent or N94 billion gains. The market had last week plunged to N7.775 trillion due to low investors' confidence,…
23 March 2011 The group phase for UEFA Euro 2012 qualifiers resumes this weekend, with no less than 19 matches being played across the European continent. The most-hyped game is the all-British Group G clash between Wales and England in Cardiffs Millennium Stadium on Saturday afternoon. It will mark Gary Speeds competitive debut as the Dragons coach. He is poised…
23 March 2011 Nigerias Super Eagles will play a high-profile friendly against Lionel Messis Argentina on June 1 in Abuja. Officials informed MTNFootball.com that the friendly is being bankrolled by one of the teams leading sponsors, Guinness. An event to announce the details of the match will take place in Lagos later Wednesday. This will be a rematch of a…
23 March 2011 MTNFootball.com will bring you live Play-by-Play coverage of the 2012 Africa Cup of Nations qualifiers this weekend - South Africa vs Egypt (Saturday from 20h00). We will also bring you live coverage of all the goals as they go in around the continent on both Saturday and Sunday! - South Africa v Egypt, 26 March, Johannesburg -…
Civil society groups, the Protection for Okomu National Park and the local Advisory Committee for Okomu National Park have called on the governor of Edo State, Adams Oshiomhole, to urgently look into the numerous attacks on the park by illegal loggers. The petitioners say the reserved forest is facing extinction due to the activities of loggers and poachers. The groups…
The National Agency for Drugs Administration and Control has attributed the outbreak of cholera in Kaduna State to the use of contaminated water and fruits by residents. The agency’s Zonal Director in the state, Eric Iful, advised residents to refrain from drinking unsafe water and to wash fruits thoroughly before consumption. Mr. Iful gave the advice in an interview on…
The President of the Senate, David Mark, has alleged that opposition parties in his constituency plan to deface ballot papers after voting. Mr Mark stated this while addressing the people of Ogwule at a campaign rally in Agatu Council, Benue State Monday. Mr Mark, who is facing a stiff contest for his return to the senate against Lawrence Onoja, the…
Finance experts are undecided about the fate of Nigeria’s Monetary Policy Rate (MPR) after the Monetary Policy Committee (MPC) meeting scheduled to be concluded today. The monetary policy rate is the process whereby the Central Bank controls the supply of money, often targeting a rate of interest for the primary purpose of promoting economic growth and stability. Yvonne Mhango, a…
The Nigerian Accounting Standards Board has waived the general loan loss provision for banks financial year, which ended 31 December, 2010. The board, in a statement on Monday, said this was due to the fact that banks’ have subjected their loan portfolios to extensive review since the beginning of the current Central Bank reforms to up to the end of…
The Federal Government at the weekend said it is committed to decongesting the nation’s ports by activating operations at the six Inland Container Depots (ICD) located in the country’s six geopolitical zones. Minister of transport, Yusuf Suleiman, who disclosed this during his inspection visit to Inland Container Nigeria Limited (ICNL), a subsidiary of Chrome Group, said his ministry would soon…
20 March 2011 Inter Milan closed the gap on leaders AC Milan to just two points ahead of the top of the table city derby in two weeks time with a 1-0 victory over lowly Lecce on Sunday. Giampaolo Pazzini scored the only goal of the game seven minutes into the second period to close even further a gap that…
Gboyega Isiaka, the governorship candidate of the Gbenga Daniel faction of the Peoples Democratic Party (PDP) in Ogun State, whose candidacy was voided by a Federal High Court judgment, has finally got some relief as his name has been included in the final list of governorship candidates for the state announced by Independent National Electoral Commission (INEC). Mr Isiaka’s name…
Twenty-eight graduates are to be awarded with First Class Degree in various disciplines by the Bayero University Kano at its 29th Convocation Ceremony scheduled for Friday. The University is also to confer honorary doctorate degrees on three Nigerians: The governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi; a one-time Defence Minister, Theophilus Yakubu Danjuma and a US-based…
The governor of Osun State, Rauf Aregbesola, has blamed his Oyo State counterpart, Adebayo Alao-Akala for the ownership crisis facing the Ladoke Akintola University of Technology ( LAUTECH), Ogbomosho, saying despite Mr Alao-Akala’s unilateral announcement that the institution is solely owned by Oyo State, it remains the joint property of both states. Mr. Aregbesola’s criticism follows the refusal of the…