Economists, Shareholders and financial analysts have dismissed the perceived return to profitability of the eight troubled in their first quarter result for 2010 expressing lack of confidence in the ability of the Central Bank of Nigeria (CBN)’s rescued banks to make genuine profits seven months after they made billions of loan loss provision and without any appreciable sign of lending and increase in deposit the major source of bank revenue. The profit is mere book keeping arrangement of posting recovered loans to the profit and loss account because they had earlier be regarded as lost.

This is an excerpt of UNDP comments on Nigeria on the progress of its Millennium Development Goals following a 2006 status report. Of the eight goals, UNDP foresaw only the achievement of universal primary education, environmental sustainability and global development partnerships.

Oceanic Bank International Plc has restated commitment for quick turnaround that will make its shareholders smile for their investments.

In a bid to efficiently manage its Fund and to protect the interest of unit holders, Union Homes Real Estate Investment Trust Fund( REIT ) has established an investment committee members to drive the process of its operations.

The need for effective supervision of self regulatory organisations (SRO) and enactment of laws barring officials of regulatory authorities in the capital market from sitting on the Board of public companies have been brought to the fore, as operators in the Nigerian Capital market have tasked the recently constituted committees set up by the Federal Government, for the design of a code of governance for capital market regulators and review of the Investment and Securities Act (ISA) on the need to address these gray areas which is likely to hinder the growth of the capital market.

The four shareholder groups in the country on Thursday differed on the new plans by the Central Bank of Nigeria (CBN) to sell five of the troubled banks. While two shareholder groups said that they supported the move, the other two said that they were against the sale of the affected banks.

Mr Vincenzo Di Lorenzo, Managing Director of Brass Liquefied Natural Gas (LNG), has said that the company is support of the Nigerian Content Act.

IFC, a member of the World Bank Group, and IFC Asset Management Company today announced a series of investments in Ecobank Transnational Incorporated and its group subsidiaries that will help strengthen the financial sector across several African countries and support the region’s recovery from the impact of the recent turmoil in global financial markets.

The issue of poverty has become a front burner issue all over the world especially in the continents of Africa, Asia and Latin America. The interest shown all over the world may be genuine but there are some elements of enlightened self interest. For example, in Nigeria, most of the violent clashes have been attributed to poverty. Poverty is always a threat to political stability and peace.

Usually at this time in the year, we go round media houses to solicit support to help sensitise the society at large as to what we are doing with regards to the Annual Lagos International Trade Fare; We have started the same thing this year, after the launching of the prospectus which kick-started the trade fair event, we go round like we are here today.