CBN Names ‘Too Big To Fail’ Banks, Is Your Bank Mentioned? [SEE List]

by Chukwu Ude The Central Bank of Nigeria list Nigerian Banks that are ‘too big to fail’ and the Apex Bank said their failure could have far reaching effect on Nigeria’s financial stability. The banks named ‘Too Big To Fail’ are First Bank of Nigeria, Guarantee Trust Bank, Skye Bank,[Read More…]

Eurozone Finance Ministers Are Losing Patience With Greece

by Michelle Edward The head of the Eurogroup, Jeroen Dijsselbloem, has said the Eurozone finance ministers are losing patience with Greece as the country submitted its 2014 budget. Greece will exit its six-year long recession next year with 0.6% growth, the budget said. The debt-laden country has received international bailouts[Read More…]

Chime urges BPE to ensure the right investors acquire Enugu coal

The Governor of Enugu State, Mr. Sullivan Chime, has urged the Bureau of Public Enterprises (BPE) to ensure that the investors that acquire the remaining four coal blocks of the Nigerian Coal Corporation (NCC) when advertised are investors with the requisite technical and financial wherewithal to operate the blocks.  He[Read More…]

Nigeria Plan Sale of Four State-Owned Oil Refineries Next Year

By Elisha Bala-Gbogbo Nigeria, Africa’s largest oil producer, plans to begin privatizing its four state-owned oil refineries before the end of the first quarter, Petroleum Minister Diezani Alison-Madueke said. “We would like to see major infrastructural entities such as refineries moving out of government hands into the private sector,” Alison-Madueke[Read More…]

McDonalds Plans A Whopping $3bn For New Restaurants & Remodelling Of Old Ones

Popular restaurant McDonald’s Corp well known for its Hamburgers and crispy french fries plans to spend about $3 billion next year. This amount will go to the opening of 1,500 to 1,600 new restaurants. About a thousand existing outlets of the fast food empire will also be remodeled. This is[Read More…]

‘Anonymous Indonesia’ attacks Australian websites

by Michelle Edward A hacking group called Anonymous Indonesia claims to have attacked over 170 Australian sites, following reports of Australian spying. On Friday, Indonesia summoned Australia’s ambassador amid reports that its Jakarta embassy was used as part of a US-led spying network. The reports were based on a US[Read More…]

Boko Haram Leader, Abubakar Shekau claims responsibility for killing 35 persons in Military uniform

by Agency France-Presse  Boko Haram leader Abubakar Shekau said in a video released Sunday that he led an October 24 attack in which 35 people found in military uniform were killed in the Nigerian city of Damaturu. “Look at what happened in Damaturu (capital of northeastern Yobe state),” the head[Read More…]

Dangote Cement grants FLSmidth 5-year maintenance contract

LSmidth and its affiliated companies have signed a number of contracts with the Nigerian cement producer; Dangote Cement PLC  for operation and maintenance of certain production lines at their cement plants in Nigeria for a period of five years. The parties have agreed not to disclose the value of the[Read More…]

Salami Can’t Gain Confidence of New Friends by Betraying Old Ones

PRESS STATEMENT NOVEMBER 4, 2013 – Our attention has been drawn to comments by the former President of the Court of Appeal, Justice Ayo Salami, which tended to paint him in the mould of a victim and cast aspersion on eminent Nigerians including President Goodluck Jonathan, revered judicial officials and the[Read More…]

Taraba Speaker dies

by Aminu Tukur The Speaker Taraba State House of Assembly Haruna Tsogwa is dead. Mr Tsogwa died Monday morning of an undisclosed ailment at the Federal Medical Centre, Jalingo, the Taraba State capital. The late speaker had been a staunch supporter of the Acting Governor of the state, Garba Umar[Read More…]