The Managing Director and Chief Executive of DN Meyer Plc, Mr. Bola Olayinka, has stressed the need for investors in Nigeria to exercise some caution in their bid to relocate their businesses to Ghana.Read More
The Governor of Ogun State, Otunba Gbenga Daniel, during the weekend, commissioned the largest ultra-modern wire and cable manufacturing plant in West Africa â€“ Coleman Cable Plant â€“ at Arepo, along the Lagos/Ibadan expressway, Ogun State.Read More
Rather than doctor their books and report non-existing profits, insurance and reinsurance companies in Nigeria may have resolved to tell their shareholders the whole truth about their performance by publishing their actual results, Patience Saghana writesRead More
Market risk is the risk of loss in the value of a financial institutionâ€™s proprietary trading holdings in equity, debt, FX or commodity instruments, due to fluctuations in market prices. Market risk can also arise with the management of clientâ€™s moneys where financial institutions provide unhedged guaranteed minimum returns. A form of market risk also arises where banks accept financial instruments exposed to market price volatility as collateral for loans. Poor market risk management practises can lead to significant losses very quickly in volatile market conditions and also complete institutional collapse in severe situations.Read More
Regular readers of this column over the years would most certainly have been exposed to a different perspective on the operation of the Nigerian economy. However, even if such adherents of the column accept the rationale of our proposals, and indeed, find them plausible; they may rightly wonder why the government and its responsible agents for monetary policy have turned deaf ears to what ordinarily makes a lot of sense with its huge potential for positively turning round the ravaged fortunes of our economy and our people.Read More
The Association of Housing Corporations of Nigeria (AHCN) is aligning efforts with financial institutions in search of viable options for funding housing development, against the backdrop of shortage of funds and lack of mortgage finance for housing schemes in the country. Members of the association met recently with corporate investors, developers and mortgage institutions seeking
The Kwara State government has commissioned a Geographic Information System (GIS) and survey digital equipments for proper land administration in the state, worth N200 million.Read More
The World Bank has approved a 500-million dollar Development Policy Credit to support Nigeriaâ€™s economic reforms in the financial sector and public financial management.Read More
An International Monetary Fund, IMF mission led by Mr. David Nellor visited Abuja and Lagos between July 16 and 29, 2009 to conduct the 2009 Article IV Consultation, which involves analysis and discussion of economic policies that the IMF, regularly conducts with each member country.Read More
Globally, the importance of banks in an economy cannot be over-emphasised. Apart from playing the intermediation role of moving funds from the surplus to the deficit sectors of the economy, they act as the barometer that measures the â€œfinancial pressureâ€ of an economy. The banking industry is the largest provider of funds to both the private and public sectors of the economy; it also provides developmental support to the key sectors of the economy. Stakeholders are thus sensitive to whatever positively or negatively affects the banking industry.Read More
Recently the Central Bank of Nigeria suspended the treatment of Commercial Papers and Bankers Acceptances by banks as off balance sheet items. This measure according to money market operators would trigger a fresh liquidity crisis in the industry as well as occasion increase in deposit rates, Babajide Komolafe writes.Read More
By Lucky Fiakpa Battle-tested African Petroleum and its chairman, Mr. Femi Otedola, are in for another major legal tussle with Access Bank and this could take several years to decide given the Nigerian legal system, Lucky Fiakpa writes What could be the problem with African Petroleum Plc? The company has always been in the media
By Patience Saghana With less than six months to the 2010 deadline when insurance companies will be underwriting at least 70 per cent of risks in the oil and gas sector, not much ground has been covered in spite of efforts put in place by the sector to meet up with the target. The government
Nigerian Breweries Plc has announced support for Farafina Trust creative writing workshop with N7 million.
The ten day workshop which has been scheduled to hold in Lagos September 17 – 26, is expected to groom 25 participants in the art of creative writing so that they can become future Nobel laureates in literature.
Dr. Simon Okolo is the President, Nigerian Association ofÂ Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and in this interview with Franklin Alli, he says political will is needed to diversify the economy from total dependence on oil to agriculture and industrial goods production.Â Excerpt As a medical doctor and an industrialists, what do