“The report of the 14 Nigerian banks which were appointed as Asset Managers of Nigeria’s reserves was carried on the back page of The Guardian Newspaper of the 5th of October 2006. The report confirmed that “already deposits worth $7bn representing part of the Central Bank of Nigeria’s share of foreign reserves estimated at about $38bn had been released to the consortium of bankers”, according to CBN’s Head of Corporate Affairs, Mr. Festus Odoko.

The Securities and Exchange Commission (SEC) and the National Insurance Commission (NAICOM) will collaborate for better enforcement against insurance companies that misappropriate funds raised from the capital market. This disclosure was made by the Acting Director General of SEC, Mr. Mounir Gwarzo, who hosted the Management of NAICOM on a courtesy visit at his office in Abuja.

A consortium led by FirstGate Group has signed a Memorandum of Understanding, MoU, with the Federal Government to build two separate 1,000MW gas-fired and solar plants in Nigeria. The Minister of Power, Prof. Chinedu Nebo, signed the MoU on the project with a timeline of four to five years on behalf of the government Chief Executive, FirstGate Business Intermediaries Ltd, Kelvin Asogwa who signed the dotted lines at the Ministry’s headquarters in Abuja, promised that the project will assist in the realization of Mr. President’s Power Sector Transformation which is cruising at a high speed.

That statement by the Minister was tucked into a report which screamed, POWER GENERATION DROPPED BY 2,042MW. The story went on to state that “Peak generation for the country as of Tuesday was out at 3,865MW, while 3,331MW was the figure for the off-peak generation.” Meanwhile, the first month of the year has come to an end and the nation is still receiving less than 4,000MW steadily, despite the lies by the PDP and the Minister’s widening credibility gap.

The Lagos State Criminal Investigation Department, SCID, Yaba, is currently investigating the murder of a man whose corpse was discovered recently in an abandoned Previa vehicle at Agbala, in Ikorodu area.

Dana Airline has indicated its readiness to begin its daily flight operations to Owerri airport in a few weeks time. Disclosing this development to newsmen, Chief Commercial Officer of the airline, Obi Mbanuzuo said that such move was part of the airline’s expansion plan to convey passengers to their various destination across the country.

The National Insurance Commission (NAICOM) is making plans to introduce parks and filling stations as selling points for insurance products. The Commission said the need to provide multi-channel outlets to sell insurance products has become imperative for the industry’s customers to buy insurance products at ease. Commissioner for Insurance, CFI, Mr. Fola Daniel, made this known to insurance correspondents, in Benin, Edo State.

Residents of Alisimie, an agrarian community, in Agbor, Ika South Local Government Area of Delta State, are now living in perpetual fear, following alleged presence of people suspected to be ritualists.

The Nigerian stock market suffered a major setback last week as all the performance indictors declined for the five consecutive trading days with investors losing not less than N594 billion.

lagos—President of Dangote Group and Chairman of Dangote Cement Plc, Aliko Dangote, has advised Nigerians to see the current economic challenges being faced by the country as a wake up call for all to re dedicate themselves to the task of building the nation through production activities. Dangote, who has always expressed his faith in Nigeria as an economically viable nation, told a delegation of cement distributors from across the country who paid him a visit in his office in Lagos that Nigeria still remained the destination of choice for investments despite the economic and security challenges.

Fresh facts have emerged on the status of some of the women, who died on Saturday in Bayelsa State, in a tragic accident near the old Ahoada Market Road along the Rivers State stretch of the East-West Road.

The Board of Directors of Nigerian Breweries, NB Plc has declared a total dividend of N37.2 billion for the 2014 financial year. The amount represents a pay out of N4.75 (four naira seventy five kobo) per ordinary share of fifty kobo each. According to the company, the total dividend of N37.2billion has been recommended by the board for shareholders’ approval at the 2015 Annual General Meeting, AGM.

The mortgage industry in Nigeria is just starting if you look at the size of our contribution to the GDP is less than one percent but my target before I leave here is that we should be able to contribute at least 15 percent. That is why we are putting a lot of issues on ground to be able to drive this process.

The Nigerian Aviation Handling Company (NAHCoAviance) has entered into a partnership with the National Security and Civil Defence Corps in order to enhance security at the Murtala Muhammed International Airport, MMIA, Lagos.

ChamsMobile in collaboration with Skye Bank Plc has entered into agreement to launch a Virtual Visa Card in Nigeria an entirely digital payment card for online and mobile use. In a statement, Deputy Managing Director, ChamsMobile, Mr. Gavin Young, expressed excitement in partnering with Skye Bank on the new virtual payment solution, developed with the company’s international joint venture partners Bancore and Global Technology Partners (GTP).