The Nigerian Stock Exchange, NSE, has placed the shares of Dangote Flour Mills Plc, Transnational Corporation of Nigeria Plc, Transcorp, Forte Oil Plc, formerly African Petroleum Plc and 45 others on technical suspension, for failing to present to the authorities, their financial statements for the 2010 financial year, seven months after the end of the financial year and five months to the end of the current financial year.

Six months after the Employees’Compensation Act, ECA, was signed into law by President Goodluck Jonathan, to among others, compensate employees for injuries sustained at work, including death, the Act has finally taken off.

Shareholders of Oando Plc have given its Board of Directors approval to raise funds by way of issuing up to 25 per cent of its unissued share capital.

The shareholders at the 34th Annual General Meeting (AGM) held last week in Lagos also ratified the Oando’s financial accounts for the year ended December 31, 2010, just as they applauded the Board and management for the impressive results considering the harsh operating environment the company operated upon.

The National Institute of Marketing of Nigeria (NIMN) has denied the rumours making the rounds that there is division within the institute’s fold, even as it merges its Annual General Meeting (AGM) and Marketing Summit to cut cost.

The Management of Folio Communications Limited, has said the Group Managing Director, Mr. Fidelis Anosike, and his brother, Noel, were never served with court summons to appear before an Ikeja High Court, Lagos, on the charge of fraud in the acquisition of the Daily Times of Nigeria assets.

When Dana Steel bought the Kastina Steel Rolling Mills in 2006, under the Federal Government’s privatisation programme, it was moribund, having been closed due basically to lack of good corporate governance. The bad state of health of the company was evident from the refusal of private investors to bid for it in 2001 when the Bureau of Public Enterprises, BPE, put it on offer.

The Director-General of Public Procurement Bureau, BPP, Engr. Emeka Ezeh, was in Lagos as guest speaker at the 3rd European Union Business meeting, where he spoke on what the Bureau was doing to enthrone accountability in spending of public funds. Ezeh, in an interview after the session, spoke with Vanguard on activities of his Bureau.

The Central Bank of Nigeria (CBN) has set fitness criteria for persons seeking to occupy top positions in primary mortgage institutions (PMIs) to ensure that only “fit and proper persons” are considered for appointment to top management positions as well as serve as significant shareholders (5% and above) in the banks.

Promasidor Nigeria Limited, makers of Cowbell Milk, said it’s partnering with Orile-Iganmu Progressive Association (OIPA), a community based non-governmental organisation on human capacity development.

Former Chief Executive Officer, National Centre for Agricultural Mechanisation (NCAM), Professor Kayode Oni has said that food security in Nigeria can only be achieved through transformation of the rural area.

We have just cruised past the proverbial half year, and our capital market is still lying prostrate. Ten months down the line, nothing tangible has been done. Investors are groaning under severe pains inflicted through some incoherent and discordant reforms that have made Nigerians look so stupid.

Nigeria’s once-thriving palm oil industry is often cited as one of the most miserably failed economic opportunities in Africa.

Agriculture has suffered from years of mismanagement, inconsistent and poorly conceived government policies, and the lack of basic infrastructure. Still, the sector accounts for over 26.8% of GDP, and two-thirds of employment.

The limit imposed on banks’sale of autonomous foreign exchange to Bureaux De Change,BDCs by the CBN has triggered a boom in foreign exchange round-tripping. Banks are diverting foreign exchange from the inter-bank market to the parallel market to take advantage of the 800 kobo difference between the inter-bank foreign exchange rate and the parallel market rate occasioned by the limit.

Abdulkadir Balarabe Musa, former Governor of the old Kaduna State, leader of the Peoples Redemption
Party, PRP and chairman of the Conference of Nigerian Political Parties, CNPP is arguably the country”s leading critic of the present socio-political system.
An unabashed socialist, when the bourgeoisie styled Kaduna Polo Club sent him an invitation alongside with a mallet for him to join the club as the sitting Governor, he turned down the invitation and reportedly gave the mallet to a domestic worker saying “I don’t play polo … It is the game of the rich and powerful, of neo-colonialists”.
It is not surprising that Balarabe Musa has consistently fought against the powerful influence and power brokers since his first revelation in the second republi

Chairman of the Medical and Dental Council of Nigeria, MDCN, Dr Roger Makanjuola, has said the council was set to institute penalties and appropriate measures against members who embark on industrial action in future.