Former militant commanders of the Movement for the Emancipation of Niger Delta, MEND, forum, has condemned the bombing of the country home of Mr. Timi Alaibe, Special Adviser to the President on Niger Delta Affairs, describing it as callous and barbaric.

THE process of repayment of the foreign loans and debts to international creditors had resulted in the Federal Government taking on the role of a guarantor of the various debt contracted by state governments which became insolvent at a time and were failing in their obligations to repay their debts.

The amount of funds in the interbank money market fell to a deficit position of N47 billion causing interbank interest rates to rise to highest level for the year.

Stanbic IBTC Bank Plc, a member of the Standard Bank Group has signed a US$42.68 million (N6.402bn) multi-currency medium term facility with Polo Park Development Company Limited to finance the construction of a shopping mall in Enugu, the capital city of Enugu state, South-East Nigeria. The deal was officially unveiled at a signing ceremony in Lagos recently.

Spring Bank Plc delighted its customers at the just concluded Lagos International Trade Fair with a bouquet of products to showcase its strength as a foremost retail bank.

Niger Insurance Plc disclosed that its Board of Directors has proposed a bonus of one for five shares for their shareholders for the financial year ended December 31, 2010.

Activities on the Nigerian Stock Exchange (NSE) resumed Monday, on a bearish note, as the value of listed equities’ declined by 21.23 billion, however, the market capitalisation closed at N8.079 trillion for the E’idel Kabir holiday.

While the bill seeking the creation of an Information Technology ministry in Nigeria awaits the approval of the National Assembly, there appears to be growing anxiety among stakeholders who are currently pushing on how to see the bill through.

The embattled former Director of the Nigerian Stock Exchange, (NSE), Prof. Ndi Okereke-Onyiuke and her sacked colleagues have secured an order of the Lagos High court restraining the Securities and Exchange Commission, SEC and three others from further publishing or circulating the outcome of an inquiry on NSE and its management by some auditing firms.

Lagos Chamber of Commerce and Industry (LCCI) has said that the private sector in Nigeria is too weak to provide the huge financial resources required to finance the infrastructure in the country.