archiveOctober 2016

The equities market trading on the Nigerian Stock Exchange (NSE) continued from previous session's downward trend as All Share Index (ASI) closed at 27,574.95 basis points, 0.08 per cent lower than Friday's closing rate of 27,598.34 basis points. Similarly, market capitalisation that opened at N9.478 trillion also dropped by N7...

The Federal Government will hold a meeting with community leaders and representatives of militants from the Niger Delta next week in Abuja to end the insurgents' attacks on oil facilities in the southern region, two government sources told Reuters on Monday. Attacks on Nigeria's energy facilities by groups calling for...

The management of the Ecobank Transnational Incorporated (ETI) yesterday issued a notice to the defunct Oceanic Bank plc shareholders, to convert their preference shares to Ordinary Shares by Monday October 31, 2016, saying that after the said date, such shareholders will not be able to convert the preference shares anymore....

A former acting Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Haruna Jauro, and two others being prosecuted for an alleged fraud of N304.1million have commenced a move to enter into plea bargain with the Federal Government. Jauro assumed the leadership of NIMASA, following the sacking of...

United Bank for Africa (UBA) has continued to receive accolades and global recognition for its commitment to the use of cutting-edge technology to provide simple and convenient banking solutions and services to its customers. The pan African banking Group was adjudged winner in two categories at the recently concluded Finacle...

For the nine months ended September 30, 2016, Zenith Bank Plc has recorded N380 billion gross earnings, 13 per cent above 336.58 billion recorded in September 30, 2015. The group unaudited nine months result for the period ended September 30, 2016, said, its profit after tax grew by 20 per...

Chief Executive Officer, Stanbic IBTC Bank Holdings Plc , Mrs Sola David-Borha, has called on governments at all levels, organized private sector, farmers and financial institutions to embrace agriculture in a sustainable manner to ensure that Nigeria through increased output will find its way out of the present economic recession...

The report from the Central Bank of Nigeria (CBN) has shown that Nigeria’s external reserves has dipped to $24 billion (as at 18th October 2016), just as  Depository Corporations  Survey  for  September  shows  that  broad money  supply in Nigeria increased month-on-month  (m-o-m)  by  2.25 per cent  to  N22.13  trillion. Business247...

The Nigerian Stock Exchange (NSE or The Exchange) has emerged the Most Innovative Stock Exchange in Africa 2016. This award was   presented to The Exchange by The Business Year Magazine on Monday, October 17, 2016 at the Stock Exchange House, Lagos. The Business Year Magazine Awards recognize different categories of...

South African mobile phone operator MTN Group has suspended dividend payouts from its Nigerian unit, it said on Monday, amid allegations that it illegally moved $14 billion out of the country. "MTN Nigeria continues to refute the allegations that MTN Nigeria had improperly repatriated funds from Nigeria," it said in...