By Emma Ujah
The Joint Managing Director of Delta Steel Company Limited, DSC, Ovwian- Aladja Dr. Sam Nwabuokei has said that its privatisation followed due process and warned that moves by interests groups to reverse the privatisation of the company would hurt its workers and the host community, in particular and the nation’s economy in general.

In line with the federal government economic transformation agenda through promotion of maximum utilisation of abundant mineral resources in the country, mining operators under the aegis of Progressive Miners Empowerment Association has said the mining sector would require capital injection of N200 billion to tap the potentials in the sector.

It was obvious from the beginning. Only just that the regulators and operators were not humble enough to accept it, that the framework for microfinance banking in Nigeria is faulty and cannot achieve its objectives. This reality was made the more and undeniably obvious last week by the revealing and moving presentation of Professor Mohammad Yunus, the founder of the first microfinance bank called Grameen Bank.

The need to quickly reposition the Nigerian capital market has been brought to the fore, especially in arresting the persistent declining fortune recorded in the market in the last couple of months.

There are several factors inhibiting the average worker from accessing NHF loans to build, renovate or purchase a house.

The bearish run on the Nigerian Stock Exchange NSE continued last week, as equities value represented by the market capitalization declined by N183.48 billion.

Speaking further on the plan to invest N200 billion in its operations, Mr. George Coumantaros, Chairman, Flour Mills, nother said that proceeds of its bond offering last year and its soon to be launched rights issue will be utilised to enable the company to pursue aggressively the immediate plans to deliver accelerated growth across the Group.

The federal government has initiated moves to review the country’s housing policies by constituting a committee to draft national housing and urban development policies, with Mr. S.P.O. Fortune Ebie as chairman and Arch. E.A. Nya-Etok as vice chairman.

To help boost the creation of affordable housing in Nigeria, an expert has called for the development of an indigenous architectural model, which he termed “vernacular architecture”.

Managers should not just accept diktats from higher authority without discussion.If he or she believes that there is a more effective and productive way that a task can be completed, or that further resources are required to achieve budgets, they must be ready to discuss this openly with their own superiors.

There is greater opportunity for insurance companies to collaborate more with the banking sector to deepen insurance penetration in the country as some banks gradually divest from their insurance subsidiaries.

Over N500 million will elude the Nigerian economy between now and October as two prominent conferences in the insurance sector have been unceremoniously shifted to other countries because of security concerns in the country.

Federal Government has appointed Oladele Amoda, an engineer, as the new Chief Executive Officer, CEO, for Eko Electricity Distribution Company of Power Holding Company of Nigerian, PHCN.

UPPER Niger River Basin Development Authority, UNRBDA, has named Mallam Muhammed A. Dada as its new Executive Director.

To position its latest product in the financial market, Access Bank Plc in collaboration with Nickelodeon said they are deploying new product to redefine the retail banking space for children, whilst it has committed significant investment in Integrated Marketing Communications tool.