₦airaland Forum

The
Central Bank of Nigeria (CBN) yesterday clarified that the defunct
Springbank, Bank PHB and Afribank that were lately taken over by the
Asset Management Corporation of Nigeria (AMCON) were not nationalised.
It said they are being run on commercial basis by the AMCON on
Bridged-Bank Arrangement
read and live your comments :http://businessnews.com.ng/2011/11/24/failed-banks-not-nationalised-we-acted-in-the-interest-of-the-public-says-cbn/

Ecobank Nigeria Plc Wednesday notified the Nigerian Stock Exchange
(NSE) of its intention to delist from the Exchange. This follows a
proposed reorganisation of its share capital that will make its parent
company, Ecobank Transnational Incorporated own its 93 per cent.
read more and live your comments :http://businessnews.com.ng/2011/11/24/m-a-ecobank-to-delist-from-nse/

State creation has stayed as a hot-button issue in our national polity. It would appear we all need a state of our own so the federation revenues can meander into our account. But that is not. It seems a deeper issue beclouds the clamouring for state.

One could be alienation of the citizens. The masses and elites’ complaints about the lack of federal government presence are just a reflection of the failure of governance in meeting Nigeria people’s needs on a broader scale with the right impact.

read more and live your comments :http://businessnews.com.ng/2011/11/23/beyond-state-creation/

NigComSat -1R is set for launch on December 19, 2011. This is a replacement satellite to NigComSat-1, which was lost in orbit on November 10, 2008.
read more and live your comments :http://businessnews.com.ng/2011/11/24/nigcomsat-1r-satellite-to-be-launched-in-december/

United Nations (UN) Deputy Secretary-General, Asha-Rose Migiro, has
stressed that sustainable development is key to addressing Africa’s
economic, social and environmental challenges.

She noted that the continent has the capacity to transit to a green
economy without the adverse effects that have accompanied growth in
other regions.
read more and live your comments :[url]http://businessnews.com.ng/2011/11/24/sustainable-devt-key-to-africa%e2%80%99s-socio-economic-challenges/[/url]

Judicial independence is essential to a society’s survival. Independence of the judiciary these days seem more theoretical than practical as executive rascals and commercial interests undermine the credibility of the judicial process.
read more and live your comments :businessnews.com.ng/2011/11/23/judicial-independence-in-the-murky-waters-of-politics/

Sterling Oil Exploration and Energy Production Company (SEEPCO) has been fined the sum of N68 million by The National Oil Spill Detection and Response Agency (NOSDRA) Limited, for defaulting in reporting the oil spillage from its facility.
read more and live your comments :http://businessnews.com.ng/2011/11/23/sterling-oil-exploration-and-energy-production-company-fined-for-oil-spillage/

Eleven days to the December 3 governorship election in Kogi State, the two major parties, Action Congress of Nigeria (ACN) and Peoples Democratic Party (PDP), have stepped up their campaigns. ACN governors and leaders gathered in the state last Sunday to rally support for the party’s candidate, Prince Abubakar Audu. They bade the ruling PDP farewell.
read more and live your comments :http://dailypost.com.ng/2011/11/23/when-acn-stormed-lokoja-for-audu/

Eleven days to the December 3 governorship election in Kogi State, the two major parties, Action Congress of Nigeria (ACN) and Peoples Democratic Party (PDP), have stepped up their campaigns. ACN governors and leaders gathered in the state last Sunday to rally support for the party’s candidate, Prince Abubakar Audu. They bade the ruling PDP farewell.
READ MORE AND LIVE YOUR COMMENTS :http://dailypost.com.ng/2011/11/23/when-acn-stormed-lokoja-for-audu/

We wonder why the debate for concession or remodeling should hold the transformation of our airports to ransom. What should give us a food for thought is how we can ensure airport safety, address the sordid decay of our airports and the unending sweet promises from ministries and the government.

READ MORE AND LIVE YOUR COMMENTS:http://businessnews.com.ng/2011/11/22/nigerian-airport-concession-or-remodeling/

International Bar Association conference 2011 has come and gone without igniting another Arab Spring. Such was the palpable fear that permeate the air as the host Dubai fought fortuitously to ensure that the conference content and the likelihood of it precipitating another uprising there was nip in the bud.

READ MOR AND LIVE YOUR COMMENTS :http://businessnews.com.ng/2011/11/22/as-iba-succumbs-to-the-fear-of-an-arab-spring/

The stock market has reversed its almost six day losing streak, gaining 6 basis points at the close of trading today.

Bearish sentiment dominated the banking sector as only FCMB and First Bank appreciated today, gaining 328 and 21 points respectively.
REA MORE AND LIVE YOUR COMMENTS : businessnews.com.ng/2011/11/22/stock-market-watch-asi-reverses-six-day-losing-streak/

FORMER president,Chief Olusegun Obasanjo, has said that the leadership of the Peoples Democratic Party (PDP) across the country needs to embark on a critical self re-examination in order for the party to remain relevant in the polity.
READ MORE AND LIVE YOUR COMMENTS :http://dailypost.com.ng/2011/11/23/pdp-needs-self-examination-obj/

Afrobeat king,Femi Anikulapo-Kuti will soon become a father of six children,courtesy of his newest lover,Anthonia,who is heavy with the singer’s 6th baby.With the way things are,Tonia,as she is fondly called,will put to bed very soon.
READ MORE AND LIVE YOUR COMMENTS :http://dailypost.com.ng/2011/11/23/another-dancer-pregnant/

The 6th ECOWAS trade fair in Lome will afford Nigeria the opportunity to showcase its economic potential which on the long run would also attract orders for export.

Mr David Adejuwon, the Acting Director of Trade Department in the Ministry of Trade and Investment, said the Minister, Dr Olusegun Aganga, would deliver a keynote address at the show.
READ MORE AND LIVE YOUR COMMENTS [url]http://businessnews.com.ng/2011/11/22/nigeria%e2%80%99s-participation-at-ecowas-fair-would-attract-orders-for-export/[/url]

This book is for everyone who currently hates or has
hated their positions in life. Its primary targets
are the people who feel they are stuck in a rut or
caught in a dead end job with no hope of ever finding
fulfilment.
LIVE YOUR COMMENTS :http://businessnews.com.ng/bookstore/books/engaged-to-a-job-i-hate-by-bankole-williams/

AS PARTS of efforts in ensuring even distribution of incentives to farmers in the country, Federal Government has unfolded plans to collect and collate all farmers’ data base in the country

Speaking during the sensitisation meeting of stakeholders on national data base in Abuja, Permanent Secretary, Federal Ministry of Agriculture and Rural
READ MORE AND LIVE YOUR COMMENTS :http://businessnews.com.ng/2011/11/22/database-of-all-farmers-in-nigeria-commences/

The Monetary Policy Committee sat in Abuja today and discussed amongst other things, the global economic crisis. The committee expressed concern on the economic “weakness” of many developed and industrial countries due to bloated sovereign debt ratios and the trickledown effect these developments could have on the Nigerian economy. The committee disclosed that it was afraid the global economic slowdown will hurt oil prices and called on the Federal Government of Nigeria to formulate sound economic policy to wean the National economy off its oil dependency and onto a more diversified economic platform.
READ MORE AND LIVE YOUR COMMENTS :http://businessnews.com.ng/2011/11/21/cbns-monetary-policy-committee-proffers-solution-to-global-economic-crisis/

You need to set up your company in Nigeria? Here is a little guide to take you through.

First, you have to conceptualize the name of the company. Something that is worth remembering and can drive market awareness. Including the name the Nigeria Limited. You have to apply to Corporate Affairs Commission, search for the company’s name availability and make a reservation of Name.
read more and live your comments :http://businessnews.com.ng/2011/11/21/how-to-set-up-a-company-in-nigeria/

Lagos State government finally has lifted the embargo placed on lekki expressway toll collection. We recalled that the government has placed an indefinite suspension on toll collection last December to enable it fully engage stakeholders with the purpose to addressing lingering criticisms and issues which has befallen the planned commencement of toll in January of this year.
read more and live your comments :http://businessnews.com.ng/2011/11/21/lekki-tolling-brouhaha/

The coming of the BRT was greeted with huge fanfare but that is not the case any longer as what could have been described as one of government’s finest effort has fallen into the worst of times.

Not from declining revenue. Even the ticket salesperson have come up with funny ways to ensure that sales ticket for routes going for NGN120 are now for NGN200 with the excuse of lack of change or utter criminal intent.
read more and live your comments :http://businessnews.com.ng/2011/11/21/brt-lost-in-decay/

Plans to support the Entertainment industry has just been concluded by the Federal Government, through the Bank of Industry (BOI) and the Africa Development Bank (AfDB), on a N75 billion funding facility.
read more and live your comments :http://businessnews.com.ng/2011/11/21/n75bn-funding-support-to-entertainment-industry/

Over 90 percent of insurance practitioners ignored the just concluded 17th Nigerian Economic Summit.

Insurance Chieftains who were believed to pull strings in government quarters were not in attendance at the summit even when National Insurance Commission (NAICOM) openly protested the trifling mention of insurance during the summit.
read more :http://businessnews.com.ng/2011/11/21/insurance-practitioners-ignore-economic-summit/

Microfinance is a key financial instrument and strategy in addressing the unique needs of the unbanked population. It has recently gained traction in the country as a result of its poverty alleviation potential and the profit at the bottom of the pyramid.

But it is very far from the grassroot. It could begin by promoting grassroot enlightenment and awareness campaigns especially in helping the poor access finance and getting into the formal sector.
read more and be the first to comments :http://businessnews.com.ng/2011/11/18/micro-finance-deepening-the-grassroot-reach/

The National Agency for Food and Drug Administration and Control (NAFDAC) Coordinator in Ekiti State, Mr. Francis Ononiwu, stated yesterday after the agency sealed up some pharmacies that Nigerians must stop using cream and soaps which contain mercury, the skin cancer-causing chemical.
read more :[url=http://businessnews.com.ng/2011/11/18/nafdac-warns-against-soaps-with-mercury/[url=http://[url=http://]businessnews.com.ng/2011/11/18/nafdac-warns-against-soaps-with-mercury/[url][url][/url]][url]]businessnews.com.ng/2011/11/18/nafdac-warns-against-soaps-with-mercury/[url][url][/url][/url]]]businessnews.com.ng/2011/11/18/nafdac-warns-against-soaps-with-mercury/[url][url][/url]][url]]businessnews.com.ng/2011/11/18/nafdac-warns-against-soaps-with-mercury/[url][url][/url][/url][/url]

The Federal Government provided N1.5 billion for the overhaul of unit six at the Egbin Power Plant so that the plant can work effectively.
READ MORE AND LIVE YOUR COMMENTS :http://businessnews.com.ng/2011/11/20/n15b-donation-to-egbin-power-plant/

Stakeholders in the banking industry had dispute over the deadline given by the Nigerian Deposit Insurance Corporation to the management of Savannah Bank Limited and Societe General Bank Nigeria Limited to open for business on or before the second quarter of next year or face nationalisation.
READ MORE AND LIVE YOUR COMMMENTS :http://businessnews.com.ng/2011/11/20/savannah-and-societe-generale-banks-may-face-nationalization-by-ndic/

The Forbes Africa Magazine has published a list of 40 Africans billionaires Using stock prices and currency exchange rates to value privately-held businesses, estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies were used.

READ MORE AND LIVE YOUR COMMENTS :[url]http://businessnews.com.ng/2011/11/20/nigerian%e2%80%99s-wealthiest-on-forbe%e2%80%99s-40-african-billionaires/[/url]

Despite persistent downward pressure on the Stock Market over the past month, certain stocks have proven to be resilient to bearish tendencies on the market.

Our analysis have led us to term such stocks “safety stocks”, these are stocks whose prices refuse to be badly beaten by the sell-side pressure on the Nigerian Stock Exchange, these stocks don’t seem to realize there is a predominant sell side fog hanging over the market and they form our periodical highlight list. We focus largely on blue chip companies although we may highlight any stocks that have performed outstandingly over the similar period.
READ MORE AND LIVE YOUR COMMENTS :http://businessnews.com.ng/2011/11/20/nigerian-stocks-outperform-market/

The focus of your book is very catchy and controversial, one cannot just wait to pick it up and read. What motivated you to write this particular book?

Well, this book was borne out of my experience in two different work environments. One where I consistently heard people complain about their jobs and another where the staff were extremely passionate about their jobs and the impact it had on the lives of people. The biggest question I have always wanted to find answers to is, “why humans (people) act the way they do?” The quest for answers, particularly in the workplace led to further questions such as “why do people commit their lives to jobs that they detest?” and “Is there really any solution to this state of employee apathy?” This book was borne out of a desire to find and proffer lasting solutions to these pertinent issues.
READ MORE AND LIVE YOUR COMMENTS :http://businessnews.com.ng/2011/11/20/engaged-to-a-job-i-hate-interview-with-the-author-bankole-williams/