FCMB Posts N20.5bn Profit, Proposes 50k Dividend
By KENNETH MADUEKE

First City Monument Bank Plc (FCMB) closed its 2007/8 financial year, recording a 171% increase in Profit before Tax from N7.6 billion in 2007 to N20.52 billion and exceeding its 2008 forecasts by a margin of approximately 10%.   More

Market Gains 3.1%
By OKEY ONYENWEAKU

Director General, Nigerian Stock Exchange (NSE), Prof. Ndi Okereke-Onyiuke has again reiterated stakeholders resolve to ensure continued growth of the Nigerian Capital Market which suffered serious set back recently, adding that market fundamentals are still very strong .   More

IFAD's N3.18bn Loan For Nigeria

The UN International Fund for Agricultural Development (IFAD), is to give a N3.18b loan to Nigeria to assist its micro finance institutions. A UN statement issued today in New York, said the facility would help create a sustainable rural financial system and enhance growth and development in rural areas.   More

Nigerian Banks Are Healthy —Akingbola
From DAN AMASINGHA, Minna

The Chief Executive Officer of Intercontinental Bank Plc, Dr. Erastus Akingbola, has debunked insinuations that the existing 24 Mega Bank may after all not be healthy, describing those peddling such a rumour as ill informed of the realities on the ground.   More

World Poverty Rate Hits $1.25 Per Day

Tackling global poverty requires both public and private investment The World Bank has warned that world poverty is much greater than previously thought. It has revised its previous estimate and now says that 1.4 billion people live in poverty, based on a new poverty line of $1.25 per day.   More

FG Awards N73bn Contract
From CHUKWUDI NWABUKO, Abuja

The Federal Government Wednesday approved a whooping sum of N73 billion for sundry contracts including the rehabilitation of the bombed Okrika jetties A and B to Lee Engineering and Construction Company aimed at facilitating loading activities in the area.   More

Eggers, Wainaina Arrive For Fidelity Creative Writing Workshop

Dave Eggers, one of America's dominant literary voices of the 21st century and Kenyan Binyavanga Wainaina have arrived Nigeria for the on-going international creative writing workshop organized by Fidelity Bank Plc in association with Nigerian author, Chimamanda Ngozi Adichie.   More

Glo At Five Nigerians Connect With Theme Song
By ANNE OBOHO

When Globacom launched GSM service on August 29, 2003, it had a clear vision of improving Nigeria and empowering the citizenry whilst also getting Nigerians talking and communicating.   More

Osun Governor Donates Building For SMEDAN's BSC
From SULE AMUDA, Abuja

To bring the services of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) closer to the people, Governor Olagunsoye Oyinlola of Osun State, has donated a building to the Agency for establishment of Business Support Centre (BSC) in Oshogbo.   More

Japanese Auto Production Picks Up

Global vehicle production by Japan's top three automakers picked up in July, reflecting strong demand despite the global economic slowdown. Some analysts say Nissan, Toyota and Honda are benefitting from their reputation for fuel-efficient models as drivers face high petrol prices.   More