Oil prices were steady on Monday on firmer global share prices, but trade was muted by the US Independence Day holiday despite negotiations between the Libyan government and rebels and Greek debt concerns.
US crude was seven cents up at $95.01 a barrel. ICE Brent crude was 17 cents lower at $111.60 a barrel.
Oil prices have been supported by gains in global equity markets since last week.
By implication, there will be trading on the equities, but there will be no movement on their share prices. The sanction, according to NSE took effect from last week Friday.
Their failure to submit their ac-counts, NSE noted in a notice on the floor of the market, was in violation of the Post-Listing Rules of the exchange as contained in Key Issue No. 5 (Annual Accounts Procedures), which states that “audited annual accounts of companies ought to be submitted within three months of year end.”
Babangida said in a statement that the caution became necessary in the face of unnecessary distractions which aides and those he termed sycophants were causing for the President.
Babangida who described weekend’s arrest of erstwhile Minister of the Federal Capital Territory, FCT Mallam Nasir El-Rufai, as one of those distractions urged the President to increase his level of tolerance for the opposition stressing that he must, as leader cross bridges to engage those who may not necessarily agree with him on issues.
Central Bank of Nigeria (CBN) governor, Sanusi Lamido Sanusi has challenged critics of the proposed Islamic banking to go to court to seek the interpretation of law which empowers the CBN to establish such a bank.
Mr Sanusi was speaking in Kano over the weekend at the Kofar Mata Mosque during a lecture organised by Tijjaniya Youth Enlightenment on the rudiments of Islamic banking.
Saying it was only the court that can determine whether the proposed bank is against the constitution of Nigeria, he said if the court gives a judgment that is not favourble to the CBN, he is ready to abide by it.
El-Rufai was arrested early Saturday morning on his return to Abuja from the United Kingdom and was released later in the night.
In an interview with the BBC Hausa monitored last night, el-Rufai said he was questioned at the SSS headquarters up till 2pm on Saturday and told that orders were being awaited “from above” for his release. He was let go at 10pm, he added.
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Mrs. Ahmed from Kaduna State apparently replaces Alhaji Yusuf Hamisu Abubakar (alias Mairago) who went through the vetting process last week but whose nomination was reportedly opposed by Governor Patrick Yakowa.
Pepple, from Rivers State, would be filling the South-south ministerial slot, Daily Trust learnt.
Also submitted to the State Security Services (SSS) at the weekend are the names of Rivers State governor’s chief of staff Mr. Nelson Wike, Mr. Edem Duke (Cross River), Dr. Abdulrahman Mohammed (Jigawa) and chairman of the Plateau State Universal Basic Education Board Mrs. Sarah Ochekpe.
Ndakotsu said the mass transit train services have since resumed in Lagos, Kaduna, Kano, Maiduguri, Jos and recently Ilorin, following the rehabilitation of some of the rail tracks. He added that by September this year, the NRC will commission the Enugu and Port-Harcourt MTT service.
After nearly a month’s delay, the names of 34 ministerial nominees sent by President Jonathan were read on the floor of the Senate yesterday. While two states, Benue and Ogun, had two nominees each, the four states of Kaduna, Plateau, Ondo and Cross River did not have any nominee.
Former Executive Secretary of the Petroleum Technology Development Fund [PTDF] Alhaji Yusuf Hamisu Abubakar, popularly known as Mairago, had been expected to be on the ministerial list from Kaduna State, having undergone security screening along with other nominees last week. Political sources in Abuja told Daily Trust that the omission of Mairago’s name from the list was due to a lobby mounted by Kaduna State governor Patrick Ibrahim Yakowa to replace him with former state Finance Commissioner Alhaji Sulaiman Hunkuyi, allegedly in fulfillment of a deal in which Hunkuyi returned to PDP’s fold just before last April’s governorship polls and helped Yakowa to secure victory. Hunkuyi had been estranged from the party after he lost the gubernatorial primary election to Yakowa. The source said Mairago is favoured by Vice President Mohamed Namadi Sambo, who is from Kaduna State. The source said Governor Yakowa was in Abuja several times last week pushing for Hunkuyi’s candidacy.
THE President may have dumped his plan to form a Government of National Unity with the All Progressive Grand Alliance (APGA) and the Labour Party (LP).
In line with the disposition of Dr Goodluck Jonathan and the Peoples Democratic Party (PDP), the nominees of Governors Peter Obi (Anambra) and Dr. Segun Mimiko (Ondo) have been struck off the list of cabinet members. The list was sent to the Senate yesterday.
For supporting his election in April, Jonathan has offered APGA two ambassadorial and two Special Adviser slots. Besides, Senator Joy Emordi is to be Special Adviser to the President on National Assembly Matters.
LP will get one ambassadorial post and a Special Adviser.
After months of litigations and boardroom permutations on what to do with its Nigerian subsidiary – Multi-Links, South African telecom giant Telkom has finally decided to sell the company to Helios Towers Nigeria, a company that only recently secured a court ruling annulling the earlier sale of Multi-Links wireless business to Visafone Nigeria Limited.
“We just want to wash our hands off that disappointing deal and concentrate on more serious challenges on the home front,” a senior executive of Telkom South Africa told BusinessDay by telephone from South Africa after the company announced its decision to hand over the company to Helios yesterday.
Nigeria has imposed earlier closing times on nightclubs, beer gardens and cinemas in the capital Abuja and banned parking on two of the city's major roads after a bomb attack at police headquarters two weeks ago. Parks and gardens that admit children must close by 6 p.m. (1700 GMT) while cinemas, nightclubs, beer parlours and public pool areas must shut by 10 p.m., the Federal Capital Territory Administration (FCTA) said.
"These measures are necessitated by the need to ensure adequate security of lives and property in the Federal Capital Territory (as a result of) the prevailing security concerns," an e-mail from the FCTA spokesman said.
Bureau of Public Enterprises (BPE) has disagreed with the claim of Syntel Communi-cations Ltd that it (BPE) failed in its bids to sell Nigerian Telecommunications (NITEL) Plc, and its mobile arm, M-tel, because of a subsisting court order.
Reacting to the claim, BPE said in a statement titled: “Why NITEL Sale Ran into a Hitch”, that it was obvious that the “unfortunate premise and conclusions in a newspaper report was drawn from the interview given by the Chairman/Chief Executive of Syntel Communications Ltd, Mr Precious Elekima, who is being economical with the truth”.
London – Maj.-Gen. Muhammadu Buhari, the CPC Presidential candidate in the April general elections, says he will not participate in the Council of State meeting until after a ruling on the party’s petition by the Presidential Election Tribunal.
Buhari, whose party is challenging the election of President Goodluck Jonathan in the election, said this on Monday in London in a lecture he delivered at Chatham House.
The Council of State meeting is presided over by a sitting president, and attended by all former Heads of State.
Buhari refused to attend the meeting when he challenged the results of the 2003 Presidential Election won by then President Olusegun Obasanjo.
This came just as Senate summoned the leadership of all the security agencies in the country for briefing on steps so far taken to stem the bombings .
The Chief of Army Staff, Lt.-Gen. Azubuike Ihejirika, also assured that operations to bring an end to the menace of the sect will begin soon.
Radical Islamist sect Boko Haram, has claimed responsibility for much of the violence, mostly perpetrated by gunmen on motorbikes or attackers using home_made explosives.
All the nominees were at press time documenting themselves with the security and other government agencies including the Code of Conduct Bureau ahead of the commencement of the screening exercise today.
Meanwhile fears of an inflated government and its attendant burden on the national treasury were raised after President Goodluck Jonathan made a demand for the approval of a record 20 special advisers. The number of special advisers which is to be approved by the National Assembly is besides the retinue of special assistants and other presidential aides.
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