archiveFebruary 2017

First Ally Asset Management said the company, a fund manager and Top Services Limited (TSL) are floating a N20 billion Real Estate Investment Trust (REIT) on The Nigerian Stock Exchange (NSE) The close-ended REIT offer, consisting of 20 million units for subscription at N1, 000 per unit opened from February...

After closing positive on Wednesday, Nigerian bourse turned negative on Thursday when the prime indicators, All-Share Index and market capitalization depreciated by 0.30 per cent each. The All-Share Index closed at 25,055.29 basis points after it depreciated by 74.97  basis points or 0.30 percent from 25,130.29 it closed on Wednesday,...

Central Bank of Nigeria (CBN) said it has disbursed $2.83 billion to critical sectors of the economy in December and January, it said in a statement on Thursday, in an attempt to kickstart a struggling economy. The nation’s economy is wallowing in its first recession in a quarter of a...

The Nigerian Stock Exchange (NSE) and Securities & Exchange Commission (SEC) blacklisted 16 stockbrokers in 2016 for unauthorized sales of clients’ shares. A report obtained by our correspondent disclosed that Alhaji Maina Muninga, Mr. John Nsofor, Mr. Oye Oyefeso, Mr. Ayokunle Oyedeji, were blacklisted by The market regulatory bodies for...

Approves N126b for roads in eight states Federal Executive Council (FEC) has said that Nigeria is yet to decide on the size of the loan it wants to apply for at the World Bank to fund 2017 budget deficit. The Minister of Budget and National Planning, Senator Udoma Udo Udoma...

By Abdul Olalekan Insurance brokers in the country said insurance industry was awaiting the implementation of the 2017 national budget to drive insurance activities in the current year, following a tough operating environment in 2016. Speaking on behalf of the brokers in an exclusive interview with Business 247 News Online...

The Nigerian Stock Exchange All-Share Index (NSE ASI) and the Market Capitalization increased by 0.39 per cent while the Year-to-Date return stood at -6.49 per cent on Wednesday trading. The All-Share Index closed at 25,130.26 basis points against the previous close of 25,032.17 basis points while   the Market Capitalization closed...

The President, Nigeria Labour Congress (NLC), Mr Ayuba Wabba, says the Federal Government and the organised Labour movement in the country have reached a consensus to review the National Minimum Wage. Wabba, who disclosed this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja, said...

The National Bureau of Statistics (NBS) has said that the countr’s Consumer Price Index, which measures inflation, increased by 18.72 per cent (year-on-year) in January from 18.55 per cent recorded in December, 2016. The CPI, which measures the average change over time in prices of goods and services consumed by...

Dangote Food companies reward distributors with cash prizes Distributors of the Dangote foods companies, including Dangote Flour, Sugar and Salt smiled home Tuesday night as the management of the companies doled out over N2 billion as rewards for their loyalty to the companies over the past one year. At a...