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Top Stories in Business

Court Sets N500 Million Record Bail For Akingbola Mon Aug, 30 2010
A Federal High Court in Lagos has set a record N500 million bail for disgraced banker and former boss of Intercontinental Bank of Nigeria, Erastus Akingbola over charges of fraud.
SEC Sacks Okereke-Onyiuke, Dangote Thu Aug, 05 2010
The lingering crisis on the council of the Nigerian Stock Exchange (NSE) came to a head on Wednesday night, with the capital market apex regulator, the Securities & Exchange Commission (NSE) announcing the removal of Ndi Okereke-Onyiuke.
Akingbola Returns, Goes Into Hiding; We Want Him - EFCC Tue Aug, 03 2010
Former Intercontinental Bank Managing Director (MD), Erastus Akingbola, on Tuesday returned to Nigeria from the United Kingdom where he fled in August last year after he and three other bank MDs were fired by the Central Bank of Nigeria (CBN).
Court Orders EFCC To Pay Stallion Group/Vaswanis N5B As Damages Wed Jul, 28 2010
The Federal High Court, Lagos, on Wednesday ordered the Economic and Financial Crimes Commission (EFCC) to pay N5Billion as damages to the Vaswani brothers and five co-plaintiffs for unlawful detention, illegal deportation and sealing off their company.
FG Clears Stallion Group/Vaswani Brothers, Revokes Deportation Order Thu Jul, 08 2010
The Vaswani Brothers, owners of Stallion Group of companies today said they have been cleared of any wrong doing in the case brought against them by Economic and Financial Crimes Commission (EFCC). The Federal Government has ordered the withdrawal of the court case against the brothers and revoked the deportation order paving the way for their return.
Stallion Group Bags Thailand Government Award Again Thu Jul, 01 2010
For the second successive year, The Government of Thailand bestowed the coveted Award under the “Thailand Best Friend” project to the Stallion Group, a multinational conglomerate with presence in 18 countries including Middle East, Africa and Asia.
Fraud And Technology Challenge Plague Nigeria’s GTBank Fri Jun, 25 2010
If you are unfortunate enough to have banking relationship with Nigeria’s GTBank then you must have been at the receiving end of unsolicited spam mails meant to defraud unsuspecting customers.
Zenon, Skye, Zenith Banks Ask Court To Vacate Order Thu Jun, 17 2010
Zenon Petroleum and Gas Limited on Thursday asked Justice Kazeem Alogba of a Lagos High Court to vacate order of mareva injunction made against it over an alleged N5.8 billion debt owed BankPHB.
SAA Upgrades Aircraft For Lagos-Johannesburg Route Thu Jun, 03 2010
South African Airways (SAA), a member of the Star Alliance is set to introduce a new Airbus 340-300 to replace Boeing 747-400 aircraft currently used on the Lagos-Johannesburg route by the end of this year.
Shell Lifts Force Majeure On Bonny May, June Exports Tue May, 25 2010
Royal Dutch Shell PLC (RDSA) said Monday it has begun exportation of Nigerian benchmark Bonny Light crude. This development coming as President Goodluck Jonathan consolidates on the ceasefire peace deal with the Niger-Delta militants signals a gradual return of the oil giant to business in the Niger-Delta.
Gas Flaring: Legislator Flay Shell On $2 billion Pledge Thu May, 20 2010
Member of the House of Representatives, Hon Eziuche Ubani Wednesday says Nigeria will take with a pinch of salt, the announcement by Royal Dutch Shell PLC that it will spend more than $2 billion to sharply reduce the burning off of natural gas at its oil wells in Nigeria.
Access Bank Wins IFC Award Mon May, 17 2010
One of Nigeria’s leading financial institutions, Acces s Bank Plc, has emerged the winner of this yearâ?s International Finance Corpora tion’s ''Most Active Issuing Bank in Africa'' Award under its Global Trade Fina nce Programme, according to a statement from the bank.
UBA GMD’s Statement To Shareholders Sat May, 15 2010
2009 was a particularly eventful year for the African financial services sector, as the impact of the global financial crises of the previous year began to take its toll. However, the fractures in the international financial system provided opportunities for well capitalized and liquid banks, such as UBA, to further consolidate their position as market leaders. The Central Bank of Nigeria (CBN) implemented resolute regulatory measures to ensure the stability of the Nigerian banking system, inclu
Jonathan Approves $31 Bln Budget Thu Apr, 22 2010
Nigeria's Acting President Goodluck Jonathan Thursday signed into law a 4.6 trillion naira (20.1 billion pounds) budget for 2010.
Obasanjo, Atiku, Kupolokun Got $74m – Okiro Report Mon Apr, 19 2010
Nigeria’s own internal inquiry shows that those who benefited from the Halliburton bribery scandal include former President Olusegun Obasanjo, the man who trumpeted an anti-corruption hurricane that swept away the jobs, the integrity, and the reputations of mainly his political opponents when he was the king in the Villa.
 

 
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