archiveJuly 20, 2016

The bears continued its onslaught on the equities market as investors recorded a loss of N92 billion on the Nigerian Stock Exchange (NSE) on Wednesday as Market Capitalisation of the Exchange closed at N9.692 trillion from N9.784 of the previous day even as the All-Share Index closed at 28,221.18 basis...

With slow sales and significant increase in financial charges, Lafarge Africa has announced N30 billion loss in profit for the half year period ended June 30, 2016. The cement manufacturing company had reported a N30.8 billion gain in prior half year attributed to increase sales and modest loss in finance...

A new President was, on Wednesday in Abuja, inaugurated for the Christian Association of Nigeria (CAN), with a promise that under his administration, CAN would not patronise government but will be a check on misgovernment. Speaking before handing over to his successor, Dr. Supo Samson Ayokunle, outgoing President of CAN...

The Central Bank of Nigeria (CBN) has given a directive that all foreign exchange trades (forex) by Authorized Dealers (Banks) and Companies in the Nigerian forex market must be executed through the platform provided by the Financial Market Dealers Quotes (FMDQ)-advised forex trading, with effect from August 1, 2016. The...

Niyi Olaoye Report of the Debt Management Office (DMO) has shown that Deposit Money Banks (DMBs) got more allotment at 27.54 per cent of the total FGN Bonds allotted in 2015. Analysis of Federal Government (FGN) Bonds allotments by investor-type depicts that the banks were followed by Fund Managers &...

Cadbury Nigeria Plc has recovered in its profitability, with a gain of N216.4 million in profit before tax in unaudited interim financial statement for the half year ended June 2016 from a loss of N250.7 million in the same prior of last year. Drop in cost of sales and growth...

Transcorp Hotels Plc has announced 7.5 per cent growth in profit after tax to N1.9 billion for the half year period ended June 30, 2016. The group profit after tax had closed half year of 2015 at N1.76 billion. Also, profit before tax stood at N2.75 billion, 11 per cent...

The outgoing Group Managing Director (GMD), United Bank for Africa Plc (UBA), Philip Oduoza, will on Friday July 22 delivers the fourth Chartered Institute of Bankers of Nigeria's (CIBN) valedictory lecture having had an eventful career at UBA. CIBN in a statement said, “in view of having achieved a remarkable,...

The Nigerian Stock Exchange (NSE) has entered into a contract to provide Dangote Cement Plc its Issuers Share Price Information service. The Issuers Share Price Information is an offering that enables companies listed on the NSE to display their respective share price on the homepage of their corporate website in...

The Managing Director of the Nigerian Ports Authority (NPA), Ms Hadiza Bala Usman, has demanded for world-class service from operators in the maritime sector. She disclosed this in Lagos yesterday in her maiden meeting with operators in the sector. Operators in the Nigerian Ports include shipping companies, terminal operators, service...