By Tony Edike ENUGU—THE Independent Petroleum Marketers Association of Nigeria (IPMAN) has blamed the clampdown on commercial banks by the Governor of Central of Nigeria (CBN) Mr. Sanusi Lamido Sanusi, for the current rise in prices of petroleum products, especially kerosene, which now sells for N150 in most part of the South East. Chairman of […]

The amnesty programme of President Umaru Yar’ Adua was a success. This is obviously his biggest achievement so far, even though in Nigeria it pays to withhold praise from politicians.

THE family of the late publisher of Newswatch Magazine, Dele Giwa, weekend called on the Federal Government to re-open investigation into the gruesome murder of their son. They also lamented being abandoned by friends and government, despite the contributions of the late Giwa to journalism in the country.

TOTAL E&P is to send forty persons this October from its areas of operations in the Niger Delta to Angola and Norway to acquire skills for engagement in oil and gas projects.

A Naval rating on board the new Navy gunship, NNS Zaria, stationed at the Escravos river in Warri South-West local government area of Delta State got drowned in the sea trying to recover the detached anchor of the gunship last Thursday.

THE Retrial Election Tribunal sitting in Asaba, will this morning deliver judgment in the much-awaited election petition filed by the Democratic Peoples Party (DPP) governorship candidate in Delta State, Chief Great Ogboru, during the 2007 governorship polls.

Oceanic Bank has urged Nigerian youths to embrace the culture of savings and prudence in the management of their finances.
Speaking to participants in the Oceanic Football Talent Hunt project, a TV reality show camp, Mr. Abel Ajala, the head of Public Sector, Oceanic Bank International plc said the nation’s youths can ensure a robust future by seeking ways of handling their finances prudently. Ajala who spoke on “Money Management” said that recent trends show that youths raking in huge gains from the arts and sports fritter away their earnings on frivolous things only to have nothing to fall back on when their careers start waning.

Skye Bank Plc has tasked government at all levels on the need to put in place the necessary machineries that will ensure the success of the much touted Public Private Partnership (PPP) initiative.

At the peak of the crude oil price boom in 2007, this commodity sold for as high as $150/barrel on the international market and Nigeria fortuitously garnered her highest ever external reserves of over $60bn. This figure would have exceeded $72bn, but for the ‘illegal’ withdrawal of about $13bn to exit the controversial Paris and London Club debts just over three years ago!

Despite the challenges confronting it, especially unfavourable operating environment brought about by the global economic crunch, Nigerian Bags Manufacturing Company Plc (BAGCO) has announced a significant improvement in its turnover for the 2009 financial year.

Expert in the Nigerian capital market has attributed the bearish run recorded in the Nigerian Stock Exchange (NSE), last week, to uncertainty trailing the conclusion of the audit of banks by the Central Bank of Nigeria (CBN), especially the recent publication of the names of debtors to the five troubled banks.

Federal Mortgage Bank of Nigeria (FMBN) is set to inject $1.5 billion (about N225 billion) loan facility into the mortgage sector that will enable Nigerians have easier accessibility to housing loans.

A recent report by the World Bank classified Nigeria as the most difficult place to register a property in Africa, in a further reflection of the sorry state of housing development in the country.

Bank customers have protested against the various types of charges deducted by banks from their accounts saying the charges are outrageous. The customers appeal to the Central Bank of Nigeria (CBN) to intervene by regulating the bank charges.

The five troubled banks have faulted the list of debtors published by the Central bank of Nigeria (CBN) last week. The banks said that the debtors list was compiled by the CBN and they did not see the final copy before it was published. Officials of the banks who spoke to Vanguard under condition of anonymity said that the debtors’ list was full of errors and most of the accounts not non-performing contrary to what was published by the apex bank.