From the monthly archives: April 2010

Bayelsa AC flays plans to withdraw corps members

On April 25, 2010 · In News

Action Congress, AC, in Bayelsa State has described as worrisome, the planned withdrawal of National Youth Service Corps, NYSC, members serving in Okolobiri area of the state over alleged insecurity.

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PENGASSAN petitions Jonathan over insecurity

On April 25, 2010 · In News

PETROLEUM and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has petitioned Acting President, Dr. Goodluck Jonathan, deploring the worsening insecurity in the country, saying, it has degenerated to a very high level hoisting an atmosphere of uncertainty over safety and security of lives and property in the country.

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Akwa Ibom community warns state govt

On April 25, 2010 · In News

THE Ikot Akpan Udo community in Ikot Abasi Local Government Area of Akwa Ibom State has warned the state government against plans to return the Amazaba Andonis of Eastern Obolo Local Government Area to its neighbourhood, after the Andoni genocide and virtual destruction of the community on 28 August 2008.

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Losing my job was a blessing in disguise, Akanbi

On April 25, 2010 · In Finance

Mr. Ola Akanbi is the chief executive officer of De_Koolar Nigeria Limited, a refrigeration and air_conditioning company with offices in Abuja and Lagos. Recently, the National Diploma holder in Mechanical Engineering from Owo Polytechnic spoke to Financial Vanguard.
Excerpts.

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Chasing growth just to be the largest, problem of Nigerian banks, Stanchart CEO

On April 25, 2010 · In Finance

In a time of great turmoil for the global financial system, when banks-big and small, declared huge losses and laid off staff en-mass, Standard Charted Bank Group reported a seventh consecutive record annual profit of $3.38 billion for the year ended December 31st 2009.

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We have 65 Nigerians on our payroll, MD Swaga Records

On April 25, 2010 · In Finance

Mr. Jerome Frank is the Managing Director of Swaga Records, a recoding company operating both in Nigeria and Malaysia. He says his company is on the move again to establish the First Malaysian Restaurant and an Entertainment outfit in the country.

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CBN, SEC codes differ on corporate governance

On April 25, 2010 · In Finance

THE inability to harmonize the code of corporate governance in the financial sector by the regulators has generated heated controversies in terms of compliance as the Central Bank of Nigeria (CBN) code clashes with that of the Securities and Exchange Commission (SEC).

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New directive on interest rate: Tough days ahead for banks?

On April 25, 2010 · In Finance

The new directive on interest rate may introduce another dimension to the competition in the banking industry, with possibility of reducing banks’ profitability.

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CBN seeks support of Sudan for Islamic banking

On April 25, 2010 · In Finance

The Central Bank of Nigeria (CBN) has requested for the support and cooperation of the Central Bank of Sudan (CBOS) for the implementation of Islamic banking (non-interest banking) in Nigeria.

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Target examination will reveal health of MFBs

On April 25, 2010 · In Finance

With the recent conclusion of the target examination of 360 of the 900 licensed microfinance banks (MFBs) by the Central Bank of Nigeria (CBN) in conjunction with the Nigeria Deposit Insurance Corporation (NDIC), MFB operators are optimistic that such moves would separate healthy MFBs from those that are not healthy.

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Jonathan signs local content oil bill

On April 25, 2010 · In Business, Finance

Nigeria’s acting president on Thursday signed into law an oil industry bill that gives Nigeria firms priority in the award of oil blocks and requires foreign companies to hire more local workers.

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Ghana insurers storm Nigeria for expertise in oil & gas insurance

On April 25, 2010 · In Business, Finance

A delegation of Ghanaian Insurers Association (GIA), umbrella body of that country’s insurance companies, was in the country to tap from the expertise of Nigerian oil and gas insurance.

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NIA bungles VISER, hides under ICT

On April 25, 2010 · In Business, Finance

The dream of the Nigerian insurance industry to hit N1trilion income by 2012 may just be far-fetched if frantic efforts are not stirred by insurance companies to re_activate the Vehicle Insurance Sticker (VISER) which the Nigerian Insurers Association (NIA) has bungled.

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PMIs, developers differ on CBN’s proposed reforms

On April 25, 2010 · In Finance

Primary Mortgage Institutions (PMIs) under the aegis of Mortgage Banking Association of Nigeria (MBAN) and developers under the umbrella of Real Estate Developers Association of Nigeria (REDAN) have reacted differently to the draft review of universal banking recently released by the Central Bank of Nigeria (CBN), as it affects activities allowable by the mortgage operators especially regarding property development.

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