Business
Local investors are interested in buying over NITEL
Posted by on Jan 9, 2006, 19:11
Indications that government might cancel the bid for the 51 per cent controlling stake in the Nigerian Telecommunications Limited, due to the unacceptably low bid price offered by shortlisted firms, seemed to have awaken local investors to prepare to tender bids for the management of the firm.
Bank debtors to face EFCC —CBN
Posted by Vanguard - By Omoh Gabriel on Dec 26, 2005, 11:59
lagos—The Central Bank of Nigeria (cbn) has threatened that a list of chronic debtors to the banking system is being compiled and would be forwarded to the Economic and Financial Crimes Commission (EFCC) and the Police for prosecution. The CBN Governor, Professor Charles Soludo, in an address to mark the end of the 2005 financial year, weekend told staff of the apex bank that asset strippers and bank managers mismanaged the banks.
CBN to liquidate four banks
Posted by Vanguard - By Omoh Gabriel & Emma Ujah on Dec 23, 2005, 10:28
LAGOS—FOUR banks may be liquidated on account of their inability to comply with the apex bank’s minimum capital requirement. Indication to this effect emerged yesterday after eight banks were given a temporary relief by the CBN, granting the Alliance Group Approval-in-Principle to merge on very stiff conditions.
Shareholders okay First Bank, FBN, MBC merger
Posted by Vanguard - By Peter Egwuatu on Dec 19, 2005, 12:25
Shareholders of First Bank, FBN (Merchant Bankers) Limited and MBC International Bank Plc on Wednesday unanimously endorsed the merger scheme proposed by the Board of Directors of the respective banks at the Court Ordered General Meetings held simultaneously in Lagos.
Zenith continues to maintain high profile performance
Posted by Vanguard - Omoh Gabriel on Dec 19, 2005, 12:23
Zenith Bank has maintained a consistent record of impressive performance in virtually all indices of measurement in the first quarter of the 2005/2006 financial year ended on 30th September 2005. The result just released for the first quarter accords with the bank’s performance trend.
First Inland Bank concludes merger process
Posted by Vanguard - By Peter Egwuatu on Dec 19, 2005, 12:22
First Inland Bank Plc, the merger of First Atlantic Bank Plc and Inland Bank (Nig.) Plc has received the sanction of the court to commence business as a legal entity, marking the end of its merger process.
Maritime workers support government probe on intels
Posted by Vanguard - By Alban Opara on Dec 19, 2005, 12:20
The Maritime Workers Union of Nigeria's (MWUN) President General, Comrade Onikoloase Irabor, has said the Federal Government probe panel on Integrated Logistics Services (INTELS) Limited should be allowed to do its work.
How Transcorp Will Transform Nigeria
Posted by ThisDay on Dec 19, 2005, 11:26
Before a recent sensitization forum of Transnational Corporation of Nigeria in the ancient city of Kano, people of the state that prides itself as the commercial nerve center of the North, thought that the mega company would be just like any other firm in the country.
Nigeria to boost cocoa production
Posted by BBC on Feb 11, 2005, 04:01
The government of Nigeria is hoping to triple cocoa production over the next three years with the launch of an ambitious development programme.
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Chinese Businessmen to Invest $7bn in Nigeria
Posted by ThisDay on Jul 8, 2004, 22:56
Federal Government's quest for Direct Foreign Investment (FDI) into the nation's economy might have scored a major hit, as a group of Chinese businessmen are planning to set up projects worth about $7 billion in Nigeria.
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