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Nigeria Business News NIGERIA BUSINESS NEWS (17-Feb-14 to 23-Feb-14) 1 23-Feb-14 Key Word "E-government" Sunday Trust Headline: "NITDA, Indian company sign MOU on e-government" The National Information Technology Agency (NITDA) and the NIHILENT Ltd., a leading Indian company, have signed a Memorandum of Understanding (MoU) on effective implementation of Nigerian e-governance programme. Sunday Trust 2 21-Feb-14 Key Word "Financial Sector" Daily Trust Headline: "Sanusi kicked out of CBN.. to challenge Jonathan in court" Naira, stocks take a deep dive. Okonjo-Iweala assures on economy. Suspension illegal - Reps, lawyers, others. Sanusi's sins, by Financial Council. Zenith MD Emefiele nominated CBN governor. The eventful and controversy-laden tenure of Sanusi Lamido at the Central Bank of Nigeria came to a screeching halt on 20 February 2014 when President Jonathan suspended him over misconduct and financial recklessness. Mallam Sanusi, in a swift response, said he will challenge the suspension in court. In his place, President Jonathan appointed CBN deputy governor for economic policy, Dr. Sarah Alade, as acting governor. Jonathan also asked the Senate to confirm Managing Director, Zenith Bank, Mr. Godwin Emefiele, as new CBN governor. Daily Trust 3 21-Feb-14 Key Word "Financial Sector" Daily Trust Headline: "Stock market plummets, loses N187bn" .. with a loss of N187billion, following the suspension of CBN governor Sanusi Lamido Sanusi. Daily Trust 4 21-Feb-14 Key Word "JICA" Daily Trust Headline: "Women empowerment is our priority - Japan agency chief" Seki Tetsuo is the Chief Representative of the Japan International Cooperation Agency (JICA) Nigeria office. In this interview, he speaks on his country's intervention programme and his working experience so far, among others. Daily Trust 5 20-Feb-14 Key Word "Electronic payment" The Guardian Headline: "Electronic payments value rises by 26%" The payments system reforms and sustained campaign on the need to embrace new ways in financial transactions may have paid off, as the electronic payments component rose by 25.6 per cent in value. The Guardian 6 18-Feb-14 Key Word "Smoking ban" Daily Trust Headline: "Lagos bans smoking in public places" The bill prohibits residents from smoking in public places such as libraries, musea, public toilets, schools, hospitals, day care centres, public transportation, restaurants among others. Penalties for violators of the law range from N10,000 to N50,000 fines to three months imprisonment. Daily Trust 7 18-Feb-14 Key Word "Financial Sector" This Day Headline: "CBN Governor Advocates for Naira Stability" The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has said that there is need for the Nigerian currency to be stable for economic development. He described Nigeria's economic problem as home-grown and blamed them on the non-implementation of relevant policies that will foster national development. This Day 8 17-Feb-14 Key Word "Telecommunications" Daily Trust Headline: "The Made-in-Nigeria phone" A Ghana-based devices manufacturer, RLG Communications, two weeks ago officially commissioned the first phone and laptop manufacturing plant in Nigeria. The Minister of Communication Technology had hinted that another company called MiFonea, which is based in Mauritius with operations in 14 other African countries, is at an advanced stage of entry into this market with a plan to setup a $30 million facility to assemble feature phones and smart phones. Daily Trust 9 14-Feb-14 Key Word "Oil and gas" Daily Trust Headline: "Sanusi insists N3tr oil money missing. Senate demands forensic audit in a month." Central Bank Governor Sanusi Lamido on 13 February 2014 said he stood by his claims that the Nigerian National Petroleum Company (NNPC) was yet to account for $20 billion oil sales money from January 2012 to July 2013. NNPC insisted all the money had been accounted for and that the unremitted $10.8 billion was for kerosene subsidy, pipeline maintenance, product losses and other operation costs. Daily Trust.
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