President, Association of Senior Staff of Banks in the country, Comrade Sunday Olusoji Salako has vowed that his Association will not allow the CBN to throw thousands of workers out of jobs and bring the economy to a halt in its planned liquidation of the eight rescued banks if they failed to recapitalise at the end of September.

The value of investment on the Nigerian Stock Exchange, NSE, dipped last week by N12.01 billion as the indices for measuring the performance of listed equities, the market capitalisation and all-share index both dipped by 0.15 per cent each.

Shareholders of Conoil Plc have commended its Board of Directors and management for the improved performance attained for the financial account ended December 31, 2010.

The Managing Director of Starcomms Plc, Maher Qubain has reasserted his position that consolidation in the CDMA segment of the telecommunications market and a fair playing ground for all networks are vital considerations in the effort for proper development of the telecoms market in the country.

ABUJA- As part of moves to increase the potential growth of the country, the World Bank disclosed weekendthat plans have been concluded to inject $4.185 million in the Nigeria Fadama project.

Investors’ appetite for Federal Government of Nigeria’s, FGN Bonds increased last week, with a significant improvement recorded in trading in the Over-the-Counter, OTC, Bond market, as investors staked N141.688 billion on 157.68 million units of bonds in 1,064 transactions.

A robust and vibrant insurance industry is essential for the development of the housing sector in the country which is currently being hampered by paucity of funds.

BGL Plc, one of Nigeria’s foremost Investment Banking outfit in Nigeria , Nigerian Economic Summit Group (NESG) and FDHL have lamented the non_passage of the Petroleum Information Bill.

The Obasanjo, Yar’Adua and Jonathan administrations have all decried what they consider to be the unnecessary and stifling burden placed on the economy by government’s increasing subsidy on the price of petrol. Last week, the Finance Minister, Olusegun Aganga was quoted in an interview he granted in faraway London that the cost of subsidies which touched N1 trillion (N1, 000bn) in 2009 would fall to about N520bn according to CBN estimates.

For any nation’s economy to grow, the Small and Medium Enterprises (SMEs) sector must play a pivotal role in the overall industrial economy of the nation and Nigeria is not an exception.

In a renewed to boost its Corporate Social Responsibility (CSR) drive and to help promote government’s efforts on environmental cleanliness, Macleans, a toothpaste brand from GlaxoSmithKline Consumer Nigeria (GSK) Plc, said its partnering Passion House to clean up Amukoko, a suburb in Ifelodun Local Council Development Area of Lagos State.

Ogun State Command of the Nigeria Customs Service has raked in N1,274,856,458.08 between January and May this year. Presenting the revenue profile to journalists in his office, the Acting Customs Area Controller (CAC) in charge of the command, Deputy Comptroller Richard Oteri revealed that the revenue of the command shot up following the management’s innovation to work closely with the traditional rulers especially in the area of making smugglers to pay duties of any vehicle they bring into the country illegally.

The launch of the Microfinance policy framework by the Central Bank of Nigeria (CBN) brought a level of confidence to bank customers, especially as microfinance banks (MFBs) held a lot of promises for small and medium entrepreneurs, and there were feelings of better things to come.

Operators and other stakeholders in the Nigerian capital market have joined in eulogising the immediate past Group Managing Director of Guaranty Trust Bank (GTbank), Mr. Tayo Aderinokun who passed on recently, saying his death will not negatively affect the performance of the bank.

Six months to the commencement of the cash withdrawal/deposit limit imposed by the CBN, some banks have commenced selective implementation of the policy barring cash transactions by some organisations.