All posts by admin

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  Access Bank says Intercontinental Bank shareholders to get 10 pct

  Access Bank Plc said, yesterday, that shareholders of Intercontinental Bank Plc will be left with 10 per cent of their holdings in the new entity that will emerge after the conclusion of the proposed merger scheduled to...

  • Posted September 2, 2011
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  Custodian Insurance announces share buy-back

  Custodian and Allied Insurance Plc. announced the country’s first share buy-back on Friday, a move expected to be followed by other companies with depressed share prices and flush with cash. Advisors to the general and motor insurance...

  • Posted September 2, 2011
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  N200b insurers’ funds trapped in stock market – NIA

  About N200billion representing 40 per cent of insurers’ funds are trapped in the capital market, according to the 2010/2011 Annual Reports and Account released by the Nigerian Insurers Association (NIA), the trapped funds are part of the...

  • Posted September 1, 2011
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  NNPC takes over SPDC’s oil blocks

  The Nigerian National Petroleum Corporation (NNPC) has taken over some of the oil blocks which the Shell Petroleum Development Company (SPDC) is divesting. This was confirmed by NNPC spokesman, Levi Ajuonuma, who said that the corporation had...

  • Posted August 31, 2011
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  Low megawatts generation at Papalanto is not our fault – Chinese Firm

  Project Manager of SEPCO III, Mr. Li Xianlai has said there must be uninterrupted supply of gas to major power plants across the country to realise government’s desire to up the nation’s electricity generation capacity to 5,000...

  • Posted August 31, 2011
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  Afren reports 42 percent drop in profit

  Plans for increasing production at Africa-focused oil and gas firm Afren are on track, it said on Tuesday, after reporting a 42 percent drop in profits in the first half of the year after a delay in...

  • Posted August 30, 2011
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  Daily Stock News (Aug 29,2011)

  Today, the year to date market performance plunged further with a significant weight loss while equity market closed with the bears as investors’ appetite continued to dry-out with extended bearish sentiments dominating market activities. More so, the...

  • Posted August 29, 2011
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  IFC invests 4.58 billion naira in GTBank

  The International Finance Corporation (IFC) has invested 4.58 billion naira in Nigeria’s Guaranty Trust Bank (GT Bank), one of the top five lenders by assets in sub-Saharan Africa’s second biggest economy, GT bank said on Monday. The...

  • Posted August 29, 2011
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  Globacom and UBA to Launch Mobile Money Services

  Leading telecommunications company Glo Mobile, on Friday, signed a memorandum of understanding (MoU), with Afripay Ltd., a member of the UBA Group, which has obtained a Mobile Money Licence from the Central Bank of Nigeria (CBN), in...

  • Posted August 27, 2011
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  Shell Nigeria Reopens Utorogu Gas Plant

  Shell Petroleum Development Co. of Nigeria, or SPDC, said it has reopened the Utorogu Gas Plant in Nigeria’s Niger Delta. The plant was shut down Wednesday night following a leak on the Utorogu-UPS trunkline in Western Niger...

  • Posted August 27, 2011
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