WITH the successful and continuous liberalization of Nigeria’s telecoms sector, which is now in its 10th year, the financial sector has contributed immensely to this development. Nigeria Phone Card Access Bank

Banks will be asked to bid on pricing, with bids due back in early December. A year-end closing is planned for the loan. Pricing indicated in the financial model is 350bp. Nigerian Bank Nigeria Access Bank Plc

Flour Mills of Nigeria Plc, which processes grain and sells cement, will offer 35 billion naira ($232 million) of bonds this month and use the proceeds to build a sugar refinery. Nigerian Bank Nigeria GTB Guaranty Trust Bank Plc

The index closed 1,991.57 basis points or 8.63 per cent up at the end of October, compared with the September level, just as equities’ capitalisation soared by N2.334 trillion. Nigerian Bank Nigeria Diamond Bank Plc

National Insurance has predicted a rapid growth of life assurance portfolio in Nigeria such that it would soon begin to play a critical role in the financial market. Nigerian Bank Nigeria UBA United Bank for Africa

Alex Luhila, has described the role of the United Bank for Africa Plc in the African continent as critical to the growth and development of the economy of African countries. Luhila, who said this during a working visit to the Group Managing Director/ Chief Executive Officer of the bank, Mr. Phillips Oduoza, in Lagos, noted that Zambia was a huge beneficiary of the bank‘s growth trend. Nigerian Bank Nigeria UBA United Bank for Africa

A statement on Friday said the two companies had decided to open their business doors to one another in the ensuing agreement. STI, a general insurance company, can now market its various life insurance products under the stable of UBA Metropolitan, a life insurance company. Conversely, UBA Metropolitan can also provide non-life products under the purview of STI to its customers, as contained in the terms of the MoU. Nigerian Bank Nigeria UBA United Bank for Africa

ONCE again, The Banker, Financial Times of London has released the Top 1000 World Banks for this year. As usual, the global rankings are remarkably characterised with tremendous surprises and leapfrogging, with the aggregate Tier 1 capital growing by 15 per cent to $4,915 billion from 2009 ranking. Profitability showed a marked rebound from $115 billion in 2008 to $400 billion in 2009. Return on capital only increased marginally or tangentially to 8.2 per cent from the paltry 2.69 per cent recorded in 2009 ranking. Nigerian Bank Nigeria Zenith Bank Plc

The positive trading recently recorded at the Nigerian Stock Exchange (NSE) may be reversed following the quarrel between Ndi Okereke-Onyiuke, director general of the Exchange, and some aggrieved AP shareholders, some market operators have said. Nigerian Bank Nigeria UBA United Bank for Africa

Oduoza’s appointment is in compliance with the recently announced policy from the Nigerian central bank which limits chief executives’ tenures to only 10 years. Nigerian Bank Nigeria CBN Central Bank Of Nigeria