Nigeria insurance practitioners have strongly defended the rational behind the acclaimed high rate of the Nigerian National Petroleum Corporation-Consolidated Insurance Policy (NNPC-CIP) just as the BP oil spill has jerked up insurance rates by 50 percent.

Africa Union Ministerial committee on Thursday, said that African countries were not ready to leave their markets open for the European goods.

Nigeria needs a new system of foreign exchange market operations which include total floating of the naira, says Dr. Emmanuel Balogun, President, Association of Bureaux De Change Operators of Nigeria (ABCON).

AIR Nigeria, has named the duo of Engr. Christopher Kwasau and Mrs. Temitope Fagbemi as heads of the Directorate of Engineering & Maintenance and Human Resources respectively as part of measures to re-position the airline for profit maximisation.

Stockbrokers have dismissed speculation about imminent bubble burst in the Nigerian stock market, even as the performance indicator, the market capitalisation has risen by from N 4.293 trillion at the beginning of the year to close last Thursday at N6.127 trillion

Delta Air Lines has reported its biggest quarterly profit in ten years, chalking up $549 million during the period..
“Delta’s profit this quarter is our best result in a decade and proof AtAhat our plan has positioned us well as the economy begins its recovery.

International Monetary Fund’s board has said that Central Banks of member countries should focus on monetary policy in pursuit of price stability which is the major function of Central Banks across the world stating that, institutional arrangements would need to be put in place to ensure that the role of central banks in the design and application of macro-prudential measures does not impinge on their ability to deliver price stability, which may require further thinking on appropriate governance frameworks.

The Central Bank of Nigeria (CBN) has been commended for proposed regulatory requirements of minimum share capital of N 5 billion for primary mortgage institutions (PMIs).

The Association of Housing Corporations of Nigeria (AHCN), umbrella body of all the housing corporations and related housing agencies in Nigeria, has called for the establishment of a Housing Development Fund (HDF) to help rescue the housing industry in the country, especially in the face of the current economic meltdown which has been aggravated by the banking crisis.

Indications emerged last weekend that domestic airlines owe aviation agencies in the country because of the poor service rendered the former by the latter.