The ticketing counters in most airlines reflect the high usage of cash in Nigeria. In addition to the airline staff that issue tickets, there are also about two banks’ staff, collecting cash on behalf of the airline. Consequently, passengers have to go through two points. They first pay through the bank staff for the ticket, collect the teller, and then proceed to the airline staff to collect the ticket. Hence, passengers spend additional time on queues just to buy flight tickets

The Global Environment Facility(GEF) and the government of Cuba are set to implement a four-year (2011-2015) energy efficiency project in Nigeria.

The Nigerian economy will change if there can be an effective and efficient implementation of its planned policies, says the World Bank.

The Nigerian Institute of Management is canvassing for laws that will protect the nation’s foreign reserves from recurrence of depletion.

The Central Bank of Nigeria (CBN) isto license independent firms to roll out Point of Sale (PoS) terminals across the country, in a bid to ensure effective implementation of the limits on cash transactions.

Sovereign Trust Insurance Plc has adopted the Enterprise Risk Management (ERM) Framework in line with the directive of the National Insurance Commission, NAICOM, that all insurance companies in the country should before the end of Year 2011, set in place an ERM machinery as a way of ensuring that the insurance business in the country is professionally anchored on the tenets of international best

Investment & Allied Assurance Plc (IAA) has been run by an interim management since the 23rd of February this year. The National Insurance Commission (NAICOM) appointed the interim management after it discovered a N26 billion fraud. ROSEMARY ONUOHA spoke to the interim Chief Executive Officer, Mr. Yomi Rufai and he bared his mind on some of the challenges the interim management is confronting.

Mr Charles Adebiyi, a real estate consultant, says lack of commitment by professionals in the construction sector may frustrate the take-off of Construction Development Bank (CDB). Adebiyi said in Lagos that although professionals in the sector were desirous of establishing a bank, they were not willing to commit their funds to it.

A founding father of the Nigerian Stock Exchange (NSE), Mr. Akintola Williams over the weekend called on operators of the Nigerian Stock Exchange to protect the market, ensuring there is no scandal.

Though, net interest margin dropped to 6.3 per cent from 7.1 per cent in 2009 in response to the low interest rate environment, Average cost of funds, however, declined sharply to 3.4 per cent from 6.1 per cent, driven by change in pricing, and mix, of deposits. Also though its liquidity ratio dropped slightly to 50.9 per cent from 58.7 per cent in 2009, it is still far above the 30 per cent required minimum for banks.