The African Development Bank (AfDB) Group Board approved on Wednesday, 17 February 2010 in Tunis, the institution’s 2010-2014 Agricultural Sector Strategy.

Chief Economist and Head, Group Market Risk Management, Access Bank, Dr Emmanuel Moore Abolo, has said that the proposed Asset Management Company is critical to the recovery of the banking sector and the economy.

The Committee of Ten, made up of African finance ministers and central bank governors, has said that the African continent has a sound foundation for recovery from the global economic crisis.

United States’ stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period to sustain the still-fragile recovery.

Nestle Nigeria Plc has announced a dividend of N10.60 per share for its shareholders in its 2009 financial year.
According to a statement by the company released to the Nigerian Stock Exchange (NSE), Wednesday, the dividends which is subject to the approval of its shareholders at its Annual General Meeting, scheduled to hold, April 27, will be paid out, April 28, 2010. It further stated that the closure of its register of members will be April 16, 2010.

In order to prevent manipulation of financial statement and promote good corporate governance every quoted company has been mandated to establish audit committee.

Stanbic IBTC Bank Plc, as parts of its commitment towards developing emerging market across the globe, has announced its plans to contribute its quota towards fast tracking the growth of the Nigerian capital market, the financial system and the economy in general.

Despite the economic slow down and other social factors which affected businesses in 2009, Nigerian Breweries has declared a 13 per cent increase in Operating Profit from N36.8 billion recorded in 2008 to N41.7 billion in 2009.

To ensure effective surveillance and security of its territorial waters, the Federal Government has acquired radar with coverage of 100 nautical miles to survey and monitor movements of vessels on the high seas.

Minister for Transport, Alhaji Ibrahim Bio has given the management of the Nigerian port authority an ultimatum to come up with a blue print for the development of the nation’s ports or face severe sanctions. The ultimatum was handed down to the NPA management for failing to develop a blueprint for the development of the country’s ports.