THE Association of Professional Bodies in Nigeria (APBN) has identified Nigeria’s underdevelopment and lack of basic infrastructure, as well as its political, socio economic and cultural crises as the aftermath of its leadership crisis. According to Mr Segun Ajanlekoko, APBN, who spoke at the investiture of the president and council of the body in Lagos last week, the country’s woes lies on a marked lack of committed leadership.

LAST week the council of the Nigerian Stock Exchange (NSE) placed technical and full suspension on some quoted companies for defaulting in post-listing requirements, especially in financial reporting of their operations and payment of annual listing fees.
15 companies were placed on full suspension (meaning there will be no transaction on their shares) for failure to render 2008 audited accounts as at 6th September 2010. These include Wiggins Teape Nigeria Plc; Jos International Breweries Plc; Hallmark Paper Products Plc; Okitipupa Oil Palm Plc; Nigerian Wire & Cable Plc; Union Dicon Salt Plc; Ekocorp Plc; Nigercem Plc; Golden Guinea Breweries Plc; Daily Times of Nigeria Plc; Albarka Air Plc; Foremost Dairies Plc; Arbico Plc; First Capital Invest Trust Plc and Stokvis Plc.

MIXED reactions have continued to trail the merger of Dangote Cement Plc and Benue Cement Plc which was approved for listing by the Council of the Nigerian Stock Exchange last week.

INVESTORS at the Nigerian stock market made a frantic move all through last week to take position in the seven rescued banks, following the enactment of the Asset Management Corporation of Nigeria (Amcon) Act.

THE Finbank vacation account is designed by the bank to offer credit facilities to senior professional staff of acceptable/reputable counterparties approved by the bank.

GTBANK Plc has stated that its MaxAdvance is created to facilitate personal loans to corporate organisations.

THE management of Dangote Group, one of Africa’s biggest and most diversified conglomerates, at the weekend confirmed plans to increase its shareholding in South Africa’s Sephaku Cement Limited from the present 19.8 per cent to 64 per cent.

THE harsh economic weather experienced in Nigeria in 2009 and in the first quarter of 2010 has continued to reflect in company results as Berger Paints plc and Fidson Healthcare Plc in their recently released results revealed a drop in income.