Positive sentiments returned to the Nigerian Stock Exchange (NSE) on Wednesday after the market had recorded losses in the last five trading days. The Exchange market capitalisation of the 201 First-Tier equities closed higher yesterday at N8.607 trillion after opening the day at N8.541 trillion, reflecting 0.77 per cent increase or N66 billion gains. Meanwhile, the market had lost over…
It is difficult to resist the temptation of writing about the unfolding turmoil in the Maghreb region. The events in Tunisia, Egypt, and other countries that up until recently seemed untouchable by popular revolt is instructive in many ways. In Sub-Saharan Africa, we appear to be sitting on the ringside, buffered by the dessert, maintaining largely deserted streets, and probably…
The Edo State Governor, Adams Oshiomhole has told security operatives in the state to flush out all miscreants in the state. He said this yesterday in Benin City while launching the newly reconstituted state security outfit, ‘Operation Thunder Storm.' According to Mr Oshiomhole, "there is only one common enemy against whom we must direct all our forces, namely those who…
A group called the Elders Forum of West District of Ogun state yesterday rejected the governorship candidate of Action Congress of Nigeria, Ogun State Chapter, Ibikunle Amosun. The Elders want a candidate from the Yewa zone of the state, claiming that it is the zone's turn, and Mr. Amosun is not from Yewa. Addressing a press conference in Abeokuta, the…
The Edo State chapter of the Nigerian Medical Association (NMA) yesterday insisted that the state government must pay its members the full Consolidated Medical Salary Structure (CONMESS) before it will reverse its decision to embark on a full scale strike when its one week warning strike expires. The state chairman of the Association, Philip Ugbodaga said that they want the…
Jasper Uche, the Transition Committee Chairman of Umunneochi Local Government Area in Abia state, said that the council will soon open a cashew processing industry in the area. He revealed this on Sunday in Umunneochi, that the industry will be sited in Mbala community.Mr Uche explained that the industry will utilise the abundant but neglected cashew nuts at Mbala, as…
Six of the country's banks are ready to conclude the processes for their recapitalisation in the next two weeks. Central Bank of Nigeria (CBN) director of banking operations, Sam Oni, disclosed this at the end of the Bankers Committee meeting held yesterday in Abuja. He noted that with the progress recorded so far with the regulators intervention with the ongoing…
The move by the Central Bank of Nigeria (CBN) to introduce derivative foreign exchange products will eventually allow for a more stable national currency. According to the Financial Market Dealers Association (FMDA), the body of financial instruments brokers, the commencement will be beneficial to the end users of foreign exchange. Akinsowon Dawodu, president of the FMDA, said the framework, as…
1 February 2011 TP Mazembe recorded a second straight victory in the African Super Cup at the weekend when they edged Morocco's FUS Rabat on penalties. The African champions have had a tremendous time of late, also reaching the final of the FIFA Club World Cup, where they lost to Inter Milan. And so given all of this success, just…
1 February 2011 We continue our series in the search to find the greatest African XI ever and this week we focus on the midfielders. You have sent in your nominations and together with our panel of experts, we have come up with the following 12 players who will compete for four places in our African XI. So have a…
In spite of the federal government’s declaration that all primary and secondary schools should resume academic activities on Monday, the Anambra State government has extended their resumption to February 7. The state’s commissioner for education, Kay Onyechi, made this known in an interview with the News Agency of Nigeria (NAN) in Awka, the state capital, on Monday, stating that the…
Determined to sooth frayed nerves arising from the recent PDP primaries, Governor Theodore Ahamefule Orji of Abia State has inaugurated a seven-member Peace and Reconciliatory Committee headed by a former senator.Inaugurating the committee led by Ike Nwachukwu at Government House, Umuahia, on Monday, Mr. Orji said the move had become necessary as it was pertinent for the party to go…
The Ogun State Ministry of Health on Monday in Abeokuta inaugurated a 34-man Technical Working Group (TWG) on malaria control. The group was inaugurated at the launch of communication materials for the campaign on malaria control. Speaking at the ceremony, the Permanent Secretary in the ministry, Tunde Olowonyo, said the State Malaria Control Programme (SMCP) was launched to sensitise residents…
Uganda’s inflation rate rose for a third consecutive month to 5.0 per cent in January from 3.1 per cent in December due to seasonal food shortages, the government’s statistics agency said on Monday. Food prices rose 3.6 per cent in the year to January 2011 compared with a decrease of 1.1 per cent recorded for the year to the end…
NIPCO Plc, the marketing subsidiary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), will work with the Nigeria Liquefied Natural Gas (NLNG) for the development of the local gas market. This laid to rest the long standing disagreement over others using NIPCO’s Liquefied Petroleum Gas (LPG) storage terminal for the storage and evacuation of products. Lawal Taofeek, the corporate…