ABUJA – The United States, U.S. Government has promised to intensify its efforts to work with Nigeria to improve its energy supply by seeking innovative solutions to the power gridlock in the country, even as it has endorsed the on-going reform initiated by the Federal Government within the sector.

The need to salvage over N75 billion of investors’ fund trapped in the remaining troubled banks — Intercontinental Bank Plc, Oceanic Bank International Plc, Union Bank Nigeria Plc and Finbank Plc

World Bank President Robert Zoellick has said world markets have entered a “new danger zone,” noting that investors have lost confidence in the economic leadership of several key countries. This came even as bankers in the country, weekend, said outright liquidation of BankPHB, Afribank and Spring Bank by Nigeria Deposit Insurance Corporation, NDIC, would have ruined the nation’s economy.

In preparation for the take-off of its policy on cash withdrawal limit, the Central Bank of Nigeria, CBN, has issued guidelines for payment of goods and services through Point of Sale Terminal (PoS).

“It is better sometimes not to follow great reformers of abuses beyond the threshold of their homes”. George Elliot, 1819-1880.

Is Malam Lamido Sanusi a loose canon? Yes, Sanusi may be a canon! But, is he loose?

Well, if the penultimate weekend revocation of licences and subsequent takeover of three banks is anything to go by, then the lanky CBN governor may be on the loose.

Like a thunderbolt, his decision days ago to create another shockwave in the banking sector has left many wondering what the real objectives are.

Managing Director of NDIC, Alhaji Umaru Ibrahim, explains in this interview that the take-over of the banks was in the interest of depositors. He said shareholders’ capital had been long eroded and that the banks could have precipitated a run in the system if left until the September 30 deadline.

The Indigenous Ship-owners Association of Nigeria,ISAN, has decentralised its operations and inaugurated its Warri Zone in a bid to improve service delivery to its members and give a boost to indigenous tonnage in the shipping sub-sector of the economy.

The Board of Directors of National e-Government Strategies Limited has appointed Chief J.B. Fumudoh, as chairman while the board terminated the appointment of Matrix Solicitors as company’s secretary and legal advisers and also appointed Messrs CNS/Adefulu, as Company Secretary and Legal Adviser.

In a bid to stabilise the banking industry for greater productivity, the Central Bank of Nigeria, CBN, last weekend, revoked the licences of Spring Bank, Bank PHB and Afribank, even as the monetary authority announced the extension of the inter-bank guarantees of the bridge banks to replace the three axed banks until December 31, 2011 to ensure continued operation.