Nigeria Business News

VIDEO: CNBC Interview with Joseph Wambia, CEO of Wambia Capital. Does the Recent Would-Be Terrorist Act Affect Investment Sentiment towards Africa?

Does it make sense to criminalize Nigeria, a country of 150 million people, due to the single act of one Nigerian citizen? Apparently, the US Government thinks “YES”!

Nigeria, a country that is evenly divided along religious lines between Christianity and Islam, was recently placed on the United States’ list of so-called “terrorist” countries. This list includes the likes of Iran, Sudan, Syria, Afghanistan, Algeria, Iraq, Lebanon, Pakistan, Saudi Arabia, Somalia, and Yemen. This extreme measure was taken as a response to the recent attempted terrorist attack by a Nigerian, Umar Farouk Abdulmutallab, of a Detroit-bound Northwest Airlines flight.

This is just a power play by the US government. US put Nigeria on that list because it rightfully thinks it can get away with this action … which it certainly will. The US government had to do “something” to Nigeria to show the US population that the US government was “punishing” the so-called “Nigerian terrorist country”.

Interesting proposition: how about adding UK, France, and Germany to the list? London (or Paris or Frankfurt?) is arguably the one non-Middle Eastern city with the highest probability of originating a terrorist. Of course, the idea sounds ludicrous, just as ludicrous as Nigeria being given “terrorist country” status.

ChairmanKing.com strongly condemns Umar Farouk Abdulmutallab and his attempted terrorist act. However, the US should not criminalize a country for the single act of one person.

Wambia Capital

Source(s): CNBC

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VIDEO: Nigerian Minister of Information & Communications, Dora Akunyili, “Embarrased” by Suspected Nigerian Terrorist Umar Farouk Abdulmutallab

Nigeria’s Minister of Information and Communications has spoken about the negative impact on her country’s image caused by the attempted terrorist attack on a Northwest Airlines plane bound for Detroit from Amsterdam on 25 December.

Akunyili Dora, says she does not want Nigeria to be associated with terrorism and feels “embarrassed” that the attacker was Nigerian.

Umar Farouk Abdulmutallab, a Nigerian national, is reported to have been living in Yemen from August to early December. He is the son of prominent Nigerian banker, Alhaji Umaru Abdulmutallab, former Chairman of First Bank of Nigeria

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Source(s): BBC News

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VIDEO: Nigeria – Africa’s Entertainment Hub

“You are the one that is responsible for your own image. America is not going to start saying good things about Nigeria! Nigeria has to say good things about Nigeria!” – Tuface Idibia

In the last few years, Nollywood has grown into one of the most financially viable and popular movie industries across the globe. From Africa, all the way to the Caribbean Islands, the movie industry has grown in leaps and bounds, and now the music industry is starting to show real signs of attaining such international recognition.

Source(s): NotJustOK.com

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VIDEO: Health of the Nigerian Market + Stanbic IBTC to Set Up Two New Fixed Income Funds in Nigeria: CNBC Africa Interview with Shuaib Audu, Head, Investment Management, Stanbic IBTC

The Nigerian Stock Exchange (NSE) has been underperforming despite the recent intervention by the Central Bank of Nigeria (CBN).

There are also plans by the CBN to set up an asset management company (AMC) to help with toxic loans with the banks. See recent interview with CBN Governor Lamido Sanusi regarding AMC.

Stanbic IBTC’s two new fixed income funds are the Stanbic IBTC Money Market Fund and the Stanbic IBTC Bond Fund.

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Stanbic IBTC Asset Management

Source(s): CNBC Africa

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VIDEO: CNBC Interview with Funke Opeke, CEO, Main One Cable; Main One Cable is the Second Competitive Cable Planned to Give Broadband Access to West Africa by 2010

Nigerian-owned Mainstreet Technologies’ Main One Cable will connect countries in Africa to those in Europe, becoming the second competitive cable (after the Glo-1 Cable) in West Africa by June 2010.

The Main One Cable Company has concluded the shore-end laying of its undersea fibre optic cables in Lagos, Nigeria and Accra, Ghana respectively. The shore-end cable laying is a critical intermediary procedure to install the undersea cables on the shores of countries in which the cable system is expected to berth.This in preparation for the end-to-end laying of the full stretch of the fibre optic cable from its origin in Portugal.

The Main One Cable will land in five places in Africa, including Nigeria and Ghana.

Main One Cable

Source(s): CNBC Africa

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VIDEO: Overhauling Nigeria’s Financial Sector

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Source(s): CNBC Africa

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VIDEO: CNBC Africa Interview with Lamido Sanusi, Governor, Central Bank of Nigeria (CBN): Local and Foreign Potential Buyers of Nigerian Banks; CBN’s Asset Management Company (AMC) to Take Over Banks’ Toxic Debt

Watch more video interviews of Lamido Sanusi

Central Bank of Nigeria (CBN)

Source(s): CNBC Africa

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VIDEO: Doing Business In Africa – Ghana – Part 1 – Pending Oil Wealth

Association of Ghana Industries (AGI) | Volunteer Partnerships for West Africa (VPWA) | African Alliance | Databank | CAL Bank (Ghana)

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Source(s): CNBC Africa

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VIDEO: Inside Lagos, Nigeria – New Arrivals

Everyday 6,000 people arrive in Lagos, looking for work, according to Lagos State Government estimates.

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Source(s): CNN

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VIDEO: Inside Lagos, Nigeria – Mega City Mega Plan

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Source(s): CNN

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