Nigeria issued a $500 million debut Eurobond on Friday with a 7.0 per cent yield in a deal that was heavily oversubscribed, as appetite for high-yielding assets outweighed concern about its depleted oil savings.

The naira has been projected to further depreciate in the coming years and may exchange for N202.7 to a dollar by 2015 according to International Monetary Fund evaluation of Nigeria macro economic indices. Projection by the multilateral institution said that in 2009, the naira will exchange on the average for N148.7 to the dollar while in 2010, it will go for N149.9 to the dollar.

Primary Mortgage Institutions (PMIs), under the aegis of Mortgage Bankers Association of Nigeria (MBAN), are seeking involvement in the collection and management of contributions to the National Housing Fund (NHF) scheme.

Wema Bank Plc, weekend announced that its Board of Directors has finally endorsed plans to concentrate on regional banking, even as it recovered N30 billion from its debtors.

The boom on the Nigerian Stock Exchange (NSE) paused Wednesday, last week, as profit takers rally on blue chip shares dragged down the performance indices, market capitalisation and the All share by 1.2 per cent.

Spring Bank shares have emerged as one of the most sought after on the Nigerian Stock Exchange (NSE) with demand spiraling price appreciation to 82% in the last three and half weeks of trading on the floor of the NSE.

Zenith Bank PLC, First Bank and UBA have been tipped as the banks to watch and invest in their shares this year, 2011. A study conducted by Citibank Group research department on Nigerian banks and circulated among foreign and local investors published recently said: “ Our top picks in order of preference are Zenith Bank, First Bank and UBA.”

Interbank interest rate fell on the average by 23 per cent last week following inflow of N232 statutory allocations to the three tiers of government. The naira also appreciated by 98.75 kobo in the interbank foreign exchange rate owing to improved supply from autonomous sources.

As the Monetary Policy Committee of the Central Bank of Nigeria (CBN) begins its maiden meeting for 2011 today, concerns about inflation, which is the rate of increase of prices of goods and services, is expected to dominate the agenda of the meeting as it did for most part of last year.

Certain businesses will continue to add value to the well-being of humanity despite their conceptualisation by individuals. Welding business is one of such businesses. For those who still commonise the practice, the Nigerian Institute of Welding, a non-governmental organisation and a part of the global body of professionals working towards the development and advancement of global and national industrial advancement through welding technology has vowed to bring back the dignity of its practitioners and as well make welding a respectable job for all who want to make a career in the field.

The upsurge in investors’ fortunes on the Nigerian Stock Exchange (NSE) continued last week, as the key performance indices, the All share index (ASI) closed the week on a positive note, appreciating by 1.53 per cent.

The Central Bank of Nigeria, CBN, has said mission drift by some microfinance bank operators (MFBs), weak capacity, poor understanding of the microfinance concept and the methodology for delivering MF services are some of the reasons why the 103 liquidated MFBs failed.

Asset Management Corporation of Nigeria (AMCON) set up by the CBN will take up shareholding in banks from which they purchased bad debt especially the troubled banks. This has further raised fears in the financial sector, some bank Managing Directors and shareholders, that AMCON may become a smokescreen for those who want to buy into these banks.

The Standard Organisation of Nigeria (SON), yesterday awarded Dangote Cement Plc with NIS BS OHSAS 18001: 2007 and NIS 9001: 2008 Quality Management System certificates in recognition for meeting its standard.

The International media has in the last two decades or so sustained a tradition, which may best be described as ‘Nigeria bashing’. In this vein, they have always been eager to amplify any aberration and indeed, grievously distort any misdeed by Nigerian citizens anywhere in the world.