Six of the country's banks are ready to conclude the processes for their recapitalisation in the next two weeks. Central Bank of Nigeria (CBN) director of banking operations, Sam Oni, disclosed this at the end of the Bankers Committee meeting held yesterday in Abuja. He noted that with the progress recorded so far with the regulators intervention with the ongoing…
The move by the Central Bank of Nigeria (CBN) to introduce derivative foreign exchange products will eventually allow for a more stable national currency. According to the Financial Market Dealers Association (FMDA), the body of financial instruments brokers, the commencement will be beneficial to the end users of foreign exchange. Akinsowon Dawodu, president of the FMDA, said the framework, as…
1 February 2011 TP Mazembe recorded a second straight victory in the African Super Cup at the weekend when they edged Morocco's FUS Rabat on penalties. The African champions have had a tremendous time of late, also reaching the final of the FIFA Club World Cup, where they lost to Inter Milan. And so given all of this success, just…
1 February 2011 We continue our series in the search to find the greatest African XI ever and this week we focus on the midfielders. You have sent in your nominations and together with our panel of experts, we have come up with the following 12 players who will compete for four places in our African XI. So have a…
In spite of the federal government’s declaration that all primary and secondary schools should resume academic activities on Monday, the Anambra State government has extended their resumption to February 7. The state’s commissioner for education, Kay Onyechi, made this known in an interview with the News Agency of Nigeria (NAN) in Awka, the state capital, on Monday, stating that the…
Determined to sooth frayed nerves arising from the recent PDP primaries, Governor Theodore Ahamefule Orji of Abia State has inaugurated a seven-member Peace and Reconciliatory Committee headed by a former senator.Inaugurating the committee led by Ike Nwachukwu at Government House, Umuahia, on Monday, Mr. Orji said the move had become necessary as it was pertinent for the party to go…
The Ogun State Ministry of Health on Monday in Abeokuta inaugurated a 34-man Technical Working Group (TWG) on malaria control. The group was inaugurated at the launch of communication materials for the campaign on malaria control. Speaking at the ceremony, the Permanent Secretary in the ministry, Tunde Olowonyo, said the State Malaria Control Programme (SMCP) was launched to sensitise residents…
Uganda’s inflation rate rose for a third consecutive month to 5.0 per cent in January from 3.1 per cent in December due to seasonal food shortages, the government’s statistics agency said on Monday. Food prices rose 3.6 per cent in the year to January 2011 compared with a decrease of 1.1 per cent recorded for the year to the end…
NIPCO Plc, the marketing subsidiary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), will work with the Nigeria Liquefied Natural Gas (NLNG) for the development of the local gas market. This laid to rest the long standing disagreement over others using NIPCO’s Liquefied Petroleum Gas (LPG) storage terminal for the storage and evacuation of products. Lawal Taofeek, the corporate…
The Nigerian Content Development and Monitoring Board (NCDMB) yesterday said European Union’s support to the implementation of the Nigerian Content Act will encourage investors from their countries to set up oil and gas facilities in Nigeria. Ernest Nwapa, the NCDMB executive secretary, said this at a forum organised by the European Union (EU) in Abuja. He noted the long-standing economic…
31 January 2011 Chelsea smashed the British transfer record to sign Spain striker Fernando Torres for 50 mln ($80 mln) from Liverpool, who had earlier made a club record swoop for Newcastle forward Andy Carroll on a dramatic January deadline day. The Blues last week had a 35 million pounds (56 million dollars) offer for Torres rejected, a move which…
1 February 2011 We have yet another Wacky Wednesday ahead of us with a full fixture list on the cards in the Absa Premiership. The last wacky Wednesday on the 19th January saw 17 goals scored and plenty football drama, and with every team is in action again all will be hoping for similar action. Going into the 18th round…
Members of opposition party, All Nigerian Peoples Party, in Nassarawa state have condemned the installation of the 15th traditional ruler in the state, claiming that the small state now has the highest number of traditional rulers in the state. They claim that this will drain the funds of the local government councils which are responsible for the welfare of traditional…
A coordinating body for Non-Governmental Organisations (NGO) in the South-West zone of the country, Women Consortium of Nigeria (WOCON) over the weekend embarked on civic education campaign to mobilise women in Ogun State ahead of the forthcoming elections. The campaign was hinged on the need for the women to ensure they all get registered in the ongoing voter registration before…
A House of Representative member and the leader of the legislative caucus group, known as ‘the Progressives’, Dino Melaye has announced his move out of the People’s Democratic Party to All Nigeria Peoples Party. Mr Melaye in an interactive session with journalists in Abuja at the weekend announced that he had resigned his membership of the People’s Democratic Party (PDP)…