Business News Report

By Omoh Gabriel, Business Editor President Umaru Musa Yar’ Adua has in the provision of the 2009 budget introduce austerity measure in Ministries, Departments and Agencies...

Financial melt down: G20 urges IMF/World Bank to sustain the momentum of infra-structure investment for development in low income countries.

By Omoh Gabriel The ministers of Finance and Central Bank governors of the Group of 20 emerging economies that met in Brazil on Sunday have said...

Civil service in its current state lacks the capacity to anchor the race to 2020″

By Omoh Gabriel The 14th Nigeria Economic summit has outlined the various huddles on the way of Nigeria’s bid to becoming one of the twenty largest...

Mansur Muktar Briefing instanbul

Lots of resources now tied up in the central bank, Capital releases made that are not spent —– Muhtar At the ongoing IMF/World Bank meeting, the...

IMF World Bank Meeting 2008, Interview with Ngozi Okonjo-Iweala

The development committee of the World Bank meeting held, and as the name goes, What dominated most of the Development committee meeting centred mostly on the...

Global financial melt down no solution in sight, US investor loses $8.3trn, how safe is Nigeria foreign reserve.

By Omoh Gabriel Investors in stocks the United States of America have lost a total of $8.3trillion since the financial crisis that is rocking the global...

Nigeria and other oil exporting countries must diversify or face dwindling revenue

By Omoh Gabriel Getting to meet Dr. Ngozi Okonjo-Iweala in Washington during the IMF/World Bank meeting was an herculean task. Even though the Editor Editor had...

G7 finance ministers pledge to fight global financial crisis

By Omoh Gabriel As the global cash crunch bit harder and claims more banks Finance ministers from leading industrialised nations have pledged action to tackle the...

Nigeria seeks World Bank assistance to fix power

By Omoh Gabriel, Nigeria delegation to this year’s IMF/World Bank annual meeting has presented Nigeria worsening power supply problem to the Bank and asked for technical...

US Senate approves $700 billion financial rescue plan – revised bill includes increased bank insurance, tax breaks

By Omoh Gabriel The US Senate yesterday approved a revised $700 billion U.S. plan to stabilise the financial industry and kick-start credit, just two days after...

Expect $40 per barrel for crude oil, prices drop below $50

By Omoh Gabriel Prices of crude oil, Nigeria’ main stay yesterday dropped below earlier prediction as prices of Brent and light crude went for $49.25 and...

US Senate approves $700 billion financial rescue plan—- revised bill includes increased bank insurance, tax breaks

By Omoh Gabriel with agency rerports The US Senate yesterday approved a revised $700 billion U.S. plan to stabilise the financial industry and kick-start credit, just...

US rescues giant mortgage lenders and credit, lesson for Nigeria

By Omoh Gabriel Last month the United States of America, the hub of capitalism and the high priest and chief advocate of free market economy announced...

Fraud in GTBank

Guaranty Trust Bank Plc (GTBank), the bank of choice for Nigeria’s yuppie middleclass and upwardly mobile connoiseurs is embroiled in another mind-boggling scandal. The bank which...

Consolidation: N72.692bn trapped in 10 failed banks

By Omoh Gabriel, Business Editor A total of N72.692billion was the deposit trapped in 10 of the 14 banks that could not meet the minimum N25billion...