The U.S. Department of State yesterday warned American citizens living in Nigeria over possible attacks that might be carried out by extremists during the forthcoming Easter celebration that will begin on Friday through Monday.
This warning came barely 48 hours after the United States issued a fresh travel alert for Nigeria as a result of the bomb blast that reportedly claimed 75 lives and a lot of properties in Nyanya area of Abuja.
Easter: U.S. Warns Citizens Of Possible Dangers In Nigeria http://leadership.ng/news/366557/easter-u-s-warns-citizens-possible-dangers-nigeria
A member of the National Conference, Mr Abdulmumuni Abubakar, slumped after the afternoon session and was admitted at a hospital in Abuja on Tuesday.
The Deputy Chairman of the Conference, Prof. Bolaji Akinyemi, confirmed the incident during Wednesday’s plenary.
Abubakar, a retired Deputy Inspector General of Police, is a Federal Government delegate.
Confab: Delegate Slumps, Hospitalised http://www.dailytimes.com.ng/article/confab-delegate-slumps-hospitalised
Power supply hasn’t improved with privatisation– Survey
A survey on power supply situation in the country released by NOI Polls, an indigenous survey agency, has revealed that 63 per cent of Nigerians have experienced no improvement in electricity supply since the privatisation of the sector.
Specifically, the survey stated that in the first quarter of this year, 43 per cent of Nigerians experienced worsened electricity supply, while 20 per cent saw no difference at all in the privatised power sector when compared to when it was run by the defunct Power Holding Company of Nigeria.
Have you rebased your personal finances?
The author of ‘Practical steps to financial freedom and independence,’ USIERE UKO, writes on updating your financial data and knowledge as things change
Rebasing has become a trendy word in Nigeria since the National Bureau of Statistics announced the new Gross Domestic Product about a week ago, making the country Africa’s biggest economy and confirming what most of us already suspected for years going by the boom in the telecoms, services and entertainment sectors.
Banks’ credit to domestic economy fell by 1.2% in January
Banks’ credit to the domestic economy fell to N12.1 trillion, representing 1.2 percent below the level in the preceding month, according to a report by the Central Bank of Nigeria (CBN).
The development was attributed to the 1.2 percent fall apiece in claims on the Federal Government and the private sector during the review month.
Available data from the Economic Report for the month of January released last week by the CBN indicated that total assets and liabilities of the deposit money banks (DMBs) amounted to N24,408.9 billion, showing an increase of 0.3 percent above the level at the end of the preceding month. Funds were sourced mainly from increased mobilisation of time, savings and foreign currency deposits; accretion to capital, and unclassified liabilities. The funds were used, largely, for the acquisition of foreign assets, unclassified assets and Federal Government securities.
Value of Bankers’ Acceptances Drops to N20bn
The value of bankers’ acceptances (BAs), a short-term debt instrument issued by firms guaranteed by deposit money banks (DMBs) declined by 0.60 per cent to N20.34 billion as at January this year, compared to the N20.47 billion it stood at the end of the preceding month.
The development, according to the Central Bank of Nigeria (CBN), was due to the decline in investment in BAs by the DMBs during the month.
Consequently, BAs accounted for 0.29 per cent of the total value of money market assets outstanding, at the end of January 2014, compared to the 0.3 per cent at the end of the preceding month.
On the other hand, the value of commercial paper (CP), an unsecured short-term debt instrument held by banks rose to N10.6 billion at end-January 2014, compared to the N9.3 billion it was at the end of the preceding month. This development was due to the rise in investment in CP by the commercial banks during the month under review.
Court Orders Seizure of Sterling Bank’s Property over N70m Debt
Officials of the Rivers State High Court have shut down the Rumuola, Port Harcourt Branch of Sterling Bank Plc and confiscated the bank’s computers and different electronic gadgets over its failure to honour a garnishee order instructing it to pay the sum of N70.7 million to Kal-Vegas Kapuchino Limited.
Justice Joy Akpughunum of the Rivers State High Court had on February 12, 2013 issued a garnishee order in favour of Kal-Vegas Kapuchino in Suit No. PHC/2491/2012 after listening to arguments from counsel to Kal-Vegas Kapuchino, the claimant/judgment and creditor/garnishor, C.I. Georgewill and the lawyer to Sterling Bank, Plc, O.A. Nwachukwu.
FG Picks Stanbic, Goldman Sachs for Diaspora Bond
The federal government, through the Debt Management Office (DMO), has appointed Stanbic IBTC Bank and Goldman Sachs as advisers to its proposed $100 million Diaspora bond issue.
The debt instrument is to raise funds from Nigerians in the Diaspora for the purpose of financing capital projects while also providing an opportunity for the Diaspora to participate in the development of the country.
The DMO, in a notice on its website, yesterday also unveiled legal advisers appointed debt issue.
The legal advisers are – Olaniwun Ajayi LP, a Nigerian firm and Arnold & Porter LLP, an international firm.
The DMO also said it had advertised for prospective Book runners for the Diaspora Bond, saying that names of the successful Book runners would also be announced upon their appointment.
NSE Woos Oil Exploration Firms for Listing
The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema has urged companies in the oil and exploration to list their shares on the Nigerian bourse and enjoy the benefits that exist in the capital market.
Onyema made the call on Monday during the listing of Seplat Petroleum Development Company Plc on the NSE. The company is the first oil production and exploration firm to be listed on the exchange. While Onyema said Seplat has taken a strategic step to join the prestigious club of quoted companies in Nigeria, he urged others to take similar step.