archiveAugust 2016

Market continued its positive ride on Wednesday on the Nigerian Stock Exchange (NSE) as the All-Share Index (ASI) and Market Capitalisation which opened the day trading at 27,389.02 basis points and N9.406 trillion respectively closed at 27,437.25 basis points and N9.423 trillion, translating  to a marginal gain of N17 billion...

The Management of First Bank of Nigeria Limited, a subsidiary of First Bank of Nigeria Holdings Plc has denied allegation of concealing N11.23 billion Nigerian Ports Authority (NPA) funds. The authority of NP last week said it uncovered fraud totalling N11.23 billion at the agency lodged in three deposit money...

Oil prices retreated on Wednesday in Asian trades, on the back of the Nigerian announcement about the expectations that OPEC producers would refuse to reduce output in September's meeting. According to Mubasher Info, Brent crude oil futures were down 0.67 per cent to reach $48.90 per barrel, while US crude...

  RMAFC to begin disbursement of 13% derivation to it Okays four Aje Oil Wells The Governor of Lagos State Mr. Akinwunmi Ambode has said that the commencement of crude oil production in the state would in no small measure enhance the economy of the state. He said this today...

Amid macro economy challenges, Guaranty Trust Bank Plc has announced N91.4 billion profit before tax in its audited hal- year period ended June 30, 2016. In its results posted on the Nigerian Stock Exchange website today, the leading in profitability bank announced a growth of 44.8 per cent in profit...

By James Eze Chimamanda Ngozi Adichie will be delivering a keynote address to the United Nations world body on Friday, August 19, 2016 as part of a series of events marking the occasion of World Humanitarian Day. A statement from her Manager, Chinaku Onyemelukwe says the event is scheduled to...

There are strong indications that insurance companies in the country are set to lose billions of Naira as the National Insurance Commission (NAICOM) has suspended financial institutions, telecommunication companies and airlines from selling insurance products, unless these distribution agencies are licensed by the commission to do so. As it stands,...

For second day running, equity transactions on the Nigerian Stock Exchange (NSE) closed positive as investors on the Exchange gained N24.9 billion as the All-Share Index (ASI) and Market Capitalisation closed at 27,389.02 basis points and N9.406 trillion respectively on Tuesday compared to 27,316.52 basis points and N9.381 trillion  recorded...

In its efforts to tackle liquidity challenges, the managing director, Jaiz Bank Plc, Mallam Hassan Usman, said the bank is in process of developing sharia compliant investment instruments in Nigeria. He disclosed that the corporation wishes Debt Management Office (DMO) and the Federal Ministry of Finance to expedite the commencement...

The Standard Organisation of Nigeria (SON) and Nigerian Customs Service (NCS) have concluded arrangements to fight importation of substandard products into the country. SON and NCS entered into the collaboration yesterday, during the visit of the acting Director General of the organisation, Dr.  Paul Angya to the Zonal Coordinator of...