Investors who participated in private placements of some private companies a couple of years ago, are in dire strait as their funds, put at about N300 billion by analysts, is in jeopardy following the failure of the Nigerian Stock Exchange (NSE) to implement its plan to accommodate such companies in the stock market through the Alternative Securities Market/Private Placement Exchange (ASEM/PRIPEX) window.

Okomu Oil Palm Company Plc has announced a total asset base of N8.7billion for the financial year ended December 2010. The palm oil company’s shareholders’ fund increased to N5.87billion in the same period under review from N4.35billion posted in 2009 with a turnover of N6.1billion in 2010 from N4.74billion recorded in 2009.

Longman Nigeria Plc has announced plans to become a wholly owned Nigerian business, following a mutually agreed divestment programme by Pearson Education UK, which holds 51% stake in the company.

Some financial experts have said that the enforcement of International Financial Reporting Standard (IFRS) on Nigerian companies would reduce manipulation of their audited financial reports. They said in Lagos that enforcement of IFRS in Nigeria would enhance ethical practices in preparation of financial reports.

There is indeed hope for Nigeria in the area of agriculture and food security, one of President Goodluck Jonathan’s five-point agenda; thanks to the efforts of an agricultural scientist, Dr Lanre Talabi, the Chief Executive Officer of Talon Nigeria Limited, an agro-based research and development company involved mainly in bringing cost-effective, sustainable and appropriate technology and management know-how to bear upon food, agriculture, fisheries and the environment in Nigeria.