MARKETS

…. Plans 100% coal production in September Chief Executive Officer of Dangote Cement Plc, Onne Van der Weijde, has said the company's diversification into other African regions is finally yielding results. He disclosed that the company will commence 100 per cent coal production in September, 2016, in an attempt to...

Investors on the  Nigerian Stock Exchange (NSE) suffered a massive loss of N108 billion in today’s market transactions as the Market Capitalisation and All-Share Index which opened the day at N9.617 trillion and 28,000.80 basis points closed at N9.509 trillion and 27,687.80 basis points respectively. A total of 301.151 million...

As part of its efforts at broadening its operation base by expanding its branch network,  Wema Bank has said it plans to issue 20 billion naira ($63 million) in bonds this month, its Chief Finance Officer Mr. Tunde Mabawonku, has said. The bank is issuing local currency bonds after scrapping...

The Central Bank of Nigeria (CBN) has advised Nigerians at home and abroad to beware of the activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria. The advice is conveyed through a press statement signed by CBN’s Acting Director of Communication, Mr Isaac Okorafor in Abuja on Tuesday....

Trading on the Nigerian Stock Exchange (NSE) ended positive today as investors recouped N54 billion in the day trading as the Market Capitalization and All-Share Index which closed on Monday at N9.563 trillion and 27,843.00 basis points respectively closed today at N9.617 trillion and 28,000.80 respectively. A total of 68.391...

  As CBN charges banks to provide for dollar loans The Naira today depreciated further against the dollar at the parallel market, Business247 News Online reports. The Nigerian currency exchanged at N380 to the dollar, from N378 it traded on Monday, while it exchanged against the Pound Sterling and the...

From Market Capitalisation of N9.631 trillion and All-Share Index of 28,042.99 with which the market opened on Monday it closed the first trading day of the week today at N9.563 trillion and 27,843.00 translating to a loss of N68 billion for investors in the day trading. A total of 331.691...

Forte Oil Plc has said it would raise N50 billion debt capital before the end of 2016 financial year. The Group Chief Executive Officer of Nigeria’s leading oil and gas company, Mr. Akin Akinfemiwa, said the company has completed a capital raising program and that discussion was ongoing with the...

The Central Bank of Nigeria (CBN) has told commercial lenders to set aside extra provisions against their dollar loans immediately in the wake of the sharp fall in the naira, Reuters reported. The nation’s currency has dropped 40 per cent since June, when Nigeria ditched its 16-month-old peg of 197...

Ecobank Transnational Incorporated (ETI) total assets achieved a milestone of N5 trillion, becoming the first financial institution to such despite macro-economy challenges faced by African countries where it is operating and dwindling global oil prices. According to ETI unaudited result and accounts for the six months ended June 30, 2016...