Author Archives: InvestAdvocate

Nigerian Banks May Leave The Gambia

By Emele Onu and Goddy Egene, 10.31.2010    Nigerian banks may be compelled to stop operations in The Gambia as opportunities and revenue thin down, exacerbated by rising competition and… Read more »

‘NBN, a waste of money’

By Agency Reporter Monday, 1 Nov 2010 ONE of Japan‘s richest men has labelled Australia‘s $43bn National Broadband Network “a stupid waste of taxpayers‘money.” Masayoshi Son, who heads Japanese internet and… Read more »

UK Q3 broad money supply picks up

By Agency Reporter Monday, 1 Nov 2010 The Bank of England‘s preferred measure of broad money supply picked up in September, but remained well below its long-term trend, highlighting the continuing… Read more »

Fund managers select Nigeria as top African investment destination

By Ademola Alawiye Monday, 1 Nov 2010 Emerging market fund managers at the Wall Street Investment Summit have selected Nigeria as their top African investment destination. According to a statement obtained… Read more »

Intercontinental, Union Bank set to seal recapitalisation deals

By Ademola Alawiye Monday, 1 Nov 2010 Indications have emerged that Intercontinental Bank Plc and Union Bank Plc may finalise discussions with potential bidders this week. Our correspondent gathered that the… Read more »

Federated Investors’ profit down by 24%

By Agency Reporter Monday, 1 Nov 2010 Federated Investors Incorporation reported a 24 per cent decline in third-quarter earnings as one of the nation‘s top money-market fund managers criticised proposed changes… Read more »

Oceanic Bank records N10.39bn Q3 profit

By Ademola Alawiye Monday, 1 Nov 2010 Oceanic Bank International Plc has announced a third quarter profit of N10.39bn as against N68.41bn loss after tax recorded in the comparable period of… Read more »

Bank PHB to name preferred bidder soon

By Ademola Alawiye Monday, 1 Nov 2010 One of the banks rescued by the Central Bank of Nigeria in last year‘s N620 bail-out, Bank PHB Plc, will name its preferred bidder… Read more »

There’s surplus money seeking destination in Africa – Elumelu

By Yemi Kolapo Monday, 1 Nov 2010 There is a lot of money seeking destination in Africa, former Group Managing Director, United Bank for Africa Plc, Mr. Tony Elumelu, has said…. Read more »

Nigeria’s economic growth not guarantee for poverty alleviation

ByStanley Opara, Banjul, Gambia Monday, 1 Nov 2010 Given the structure of the Nigerian economy, higher economic growth may not necessarily translate into poverty alleviation, the Chief Executive Officer, Resources… Read more »