Sabinews Midday News Update for August 13, 2014MID DAY Icon


Nigerian Banks to Intensify Capital Raising

The recent adjustment of the modalities for computing banks’ regulatory capital by the Central Bank of Nigeria (CBN) will bring about increased capital-raising for financial institutions.

The Managing Director/Head, Africa Research, Standard Chartered Bank, Razia Khan, who stated this in a note yesterday, pointed out that tier-2 debt issuance had already increased, with an increasing number of banks that raised dollar. Read more


Six Companies Raise N365.87bn from Stock Exchange in 7 Months

The Nigerian Stock Exchange (NSE) yesterday said that N365.87 billion was raised by six companies from its primary market segment between January and July 2014.

A breakdown of the new development in seed funds showed that it was raised through Rights Issue, Placement, Initial Public Offer (IPO) and offer for subscription.

An analysis of the data also showed that Seplat Petroleum Development Company in the period under review raised N318.74 billion through IPO of 553.31 million shares at N576 per share. Read more



Keshi deal still in limbo

Contrary to our earlier report can now relay that the Nigeria Football Federation [NFF] and Stephen Keshi are yet to conclude negotiations over a proposed contract for the latter. Read more


Britain warned to act in Iraq or face terror at home

Britain faces the threat of terror attacks at home if it does not fight Islamist extremists in the Middle east, a key member of the Kurdish government in Iraq has warned. Read more


Police to create operation points in North

As part of measures to curb the proliferation of small arms, light weapons and other explosive materials in the country, the Acting Inspector-General of Police, Suleiman Abba, has ordered immediate establishment of Tactical Operation Points in select states of the North-East and North-West. Read more


Liberians Place Hope On Untested Ebola Drug

Experimental treatment for Ebola was reportedly heading from the US to Liberia as the death toll from the epidemic in West Africa climbed above 1,000. The WHO says unproven Ebola treatment is ‘ethical.’

Anticipating the arrival of an experimental drug to treat Ebola, Liberia said on Tuesday (12.08.2014) it had requested samples and they would be brought into the country “by a representative of the US government.” Read more


Women abandon hijab as suicide bombers put them under suspicion

Women in north Nigeria’s largest city Kano are abandoning their traditional religious dress after a spate of suicide bombings by young girls with explosives under their hijab.

The commercial city was hit last month by four separate attacks involving teenaged girls in the Muslim dress, leaving at least nine people dead and scores more injured. Read more


France to send weapons to Iraq

France says it will send arms to Kurdish forces in Iraq in response to the Kurds’ “urgent need” of support against radicals of the Islamic State group.

The French presidency says in a statement Wednesday that the arms shipment will be delivered “in the coming hours” and has been agreed with authorities in Baghdad. Read more


Egypt’s top cleric condemns Islamic State

Egypt’s top cleric has condemned the extremist Islamic State group that has been on a rampage in Iraq and Syria, describing it as a “terrorist” organization that poses a danger to Islam and Muslims.

The Islamic State is “violating all the Islamic principles and the intentions of the Shariah (Islamic law),” said Grand Mufti Shawki Allam, Egypt’s highest religious authority. Read more


Six killed in Gaza when unexploded munitions blow up

Six people, including three members of a Palestinian police bomb disposal unit, were killed in the Gaza Strip on Wednesday when unexploded ordnance blew up, medical officials and police said.

A foreign journalist, who was not immediately identified, was among the dead, the medical officials said. Read more


World Bank finances 96MW power plant in Senegal

A 96MW project that will provide power to more than one and a half million residents in Senegal is being backed by the World Bank.

It is providing financial help worth more than $133 million (£79m) for the Tobene Independent Power Project – an oil-fired thermal power plant – in Taiba Ndiaye. Read more


Ogun rewards teachers, students

Ogun State government has presented gifts to the teachers and students who distinguished themselves in their various endeavours for the 2013 academic year.

The state governor, Ibikunle Amosun, gave out the awards on Tuesday, at the Obas’ Complex, Oke Mosan, Abeokuta. Read more


‘PROPAK 2014 is to grow local industries’

A Lagos-based financial and business exhibition company, Montgomery West Africa, has said that an exhibition which would involve Nigeria’s largest packaging, food processing, plastics, labelling and printing trade show tagged “PROPAK West Africa 2014”, is intended to encourage and grow local industries in the country. Read more



Nigeria, others record largest gas production decline

Nigeria, India and Norway, recorded the largest volumetric decline in gas production, the Statistical Review of World Energy 2014, has revealed, amid global production growth of 1.1percent, well below the 10-year average of 2.5 percent. Read more


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