On The Money - In Brief

Mergers, Acquisitions and Financial Results

- President Olusegun Obasanjo ordered all ministries, parastatals and agencies to immediately commence the process of reconciliation of debts owed the Nigerian Telecommunications Limited (NITEL) to enable the full settlement of the backlog of salaries owed to the workers.

- Malawi is to receive a grant from the World Bank worth US$40 million for the development of infrastructure services, including telecommunications. The project will provide core infrastructure services in about 30 market centres located within five economic corridors along the country`s main road system.