The Nigerian Accounting Standards Board has waived the general loan loss provision for banks financial year, which ended 31 December, 2010. The board, in a statement on Monday, said this was due to the fact that banks’ have subjected their loan portfolios to extensive review since the beginning of the current Central Bank reforms to up to the end of…
The Federal Government at the weekend said it is committed to decongesting the nation’s ports by activating operations at the six Inland Container Depots (ICD) located in the country’s six geopolitical zones. Minister of transport, Yusuf Suleiman, who disclosed this during his inspection visit to Inland Container Nigeria Limited (ICNL), a subsidiary of Chrome Group, said his ministry would soon…
20 March 2011 Inter Milan closed the gap on leaders AC Milan to just two points ahead of the top of the table city derby in two weeks time with a 1-0 victory over lowly Lecce on Sunday. Giampaolo Pazzini scored the only goal of the game seven minutes into the second period to close even further a gap that…
Gboyega Isiaka, the governorship candidate of the Gbenga Daniel faction of the Peoples Democratic Party (PDP) in Ogun State, whose candidacy was voided by a Federal High Court judgment, has finally got some relief as his name has been included in the final list of governorship candidates for the state announced by Independent National Electoral Commission (INEC). Mr Isiaka’s name…
Twenty-eight graduates are to be awarded with First Class Degree in various disciplines by the Bayero University Kano at its 29th Convocation Ceremony scheduled for Friday. The University is also to confer honorary doctorate degrees on three Nigerians: The governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi; a one-time Defence Minister, Theophilus Yakubu Danjuma and a US-based…
The governor of Osun State, Rauf Aregbesola, has blamed his Oyo State counterpart, Adebayo Alao-Akala for the ownership crisis facing the Ladoke Akintola University of Technology ( LAUTECH), Ogbomosho, saying despite Mr Alao-Akala’s unilateral announcement that the institution is solely owned by Oyo State, it remains the joint property of both states. Mr. Aregbesola’s criticism follows the refusal of the…
Prices of building materials have gone up by about 20 per cent in parts of Delta, the News Agency of Nigeria (NAN) reports. A survey by the state’s ministry of economic planning indicated that a bag of Elephant and Dangote cement, which sold at N1,600 in Asaba, Ughelli, Warri, and Sapele in December 2010, now cost N1,900. The survey also…
Nigerian interbank lending rates eased to 9.25 per cent on average this week from 9.83 per cent last week, after the disbursal of part of monthly budgetary allocations to government agencies, traders said on Friday. The secured Open Buy Back closed flat at 8.50 per cent, 200 basis points above the Central Bank’s 6.50 per cent benchmark rate and 4.5…
The inflation numbers for February are in, and they do surprise. Prices, it seems, are not growing as fast as they did two months ago. According to the new numbers, consumer prices in the country rose by 11.1% in the year to February, down from 12.1% in the year to January. Why? The most basic problem with inflation statistics in…
21 March 2011 TP Mazembe of the Democratic Republic of Congo defeated Simba of Tanzania 3-1 Sunday as they embarked on a journey that could lead to a record third consecutive African Champions League title. The 2010 FIFA Club World Cup runners-up led 2-0 at half-time in southern Congolese mining city Lubumbashi and increased their advantage before Simba snatched a…
21 March 2011 Kumasi Asante Kotoko grabbed the bragging rights over Hearts of Oak when they defeated their arch rivals 2-0 in the Ghana Premier League game on Sunday. A capacity crowd witnessed the game as the Porcupine Warriors spoiled the big party lined up by Hearts to begin their centenary year celebrations. First-half goals from Ahmed Toure and Daneil Nii…
21 March 2011 There are two types of coaches those who have been sacked and those who will soon be sacked. Several coaches have already been shown the door by the first round of the Nigeria Premier League (NPL) Erasmus Onuh (Bukola Babes), Kennedy Okogba (Ocean Boys), Tunde Abdulrahman (JUTH), Ladan Bosso (Niger Tornadoes), Emmanuel Osigwe (Heartland) and Ndubuisi Nduka…
Ogun State Governor, Gbenga Daniel at the weekend called on tertiary institutions in the country to diversify their revenue base to enable them meet their financial needs. Mr Daniel, who spoke at the second convocation ceremony of the Tai Solarin University of Education, Ijagun- Ijebu, said : “Tertiary institutions should look inwards and be close to their communities. They need…
Worried over the rise in the number of kidnap incidents recorded in the state in recent times, Delta State governor, Emmanuel Uduaghan at the weekend called for the immediate establishment of a special court to accelerate the trial and prosecution of all those caught in the act. Mr Uduaghan, who stated that cases of kidnapping in the state have taken…
The people of Ikole-Ekiti, Ekiti State, have dragged the state government to court to stop the relocation of the federal university from the town to Oye-Ekiti. Two persons were killed early February during a protest by Ikole people, who were angered by the reported announcement of Oye, a neighbouring town, as the new host of the university. The university is…