All posts by admin

• Government’s Easing of Restrictions Cuts Bond Yields

  Nigeria’s borrowing costs are set to plunge in its first bond auction since dropping requirements for investors to hold government debt for at least a year. Africa’s biggest oil producer will offer 70 billion naira ($460 million)...

  • Posted July 21, 2011
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  Afren targets production boost and exploration drilling

  Afren , the Africa-focused FTSE 250 oil and gas group, said today that it was on track to be producing 50,000 barrels of oil equivalent per day by the end of this year. In an update ahead...

  • Posted July 20, 2011
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  Mira Corp Announces Mohammed Asibelua as Chairman of the Board

  Mira Resources Corp.  and its wholly owned subsidiary Equinox TSB Development (Nigeria) Limited are pleased to announce that Mr. Mohammed Asibelua, Chairman of the Equinox Group has agreed to accept the position as Chairman of Mira’s Board...

  • Posted July 20, 2011
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  Fenog Nigeria Acquires Rig to Stem Pipeline Sabotage

  Nigerian firm, Fenog  said it has acquired a drilling rig that will make it difficult for oil thieves and vandals to sabotage oil and gas pipelines in the oil-rich country. “Fenog has acquired the new horizonal directional...

  • Posted July 20, 2011
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  Sierra Leone Lawmakers Agree to Restore Oranto of Nigeria Oil-Block Rights

  Lawmakers in Sierra Leone approved an agreement between Oranto Petroleum Ltd. of Nigeria and the West African nation’s government to restore the company’s rights to an offshore oil block. The deal was passed after the International Court of Arbitration...

  • Posted July 20, 2011
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  British PM pushes trade in Nigeria, but scandal looms

  British Prime Minister David Cameron visited Nigeria on Tuesday, pushing a message of trade and democracy before making an early return home to deal with the spiralling phone hacking crisis. After talks with President Jacob Zuma in...

  • Posted July 20, 2011
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  Zenith Bank posts N30.666b half year profit

  Nigerian Stock Exchange (NSE) on Monday released financial results of some quoted companies in Nigeria which included that of Zenith Bank’s unaudited half year result ended June 30, 2011 just as the management explained why tradings on...

  • Posted July 19, 2011
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• Nigerian Inflation Slowed to 10.2% in June as Naira’s Gains Curb Imports

  Nigerian inflation slowed to 10.2 percent in June as the naira gained to a four-month high against the dollar, curbing the cost of imported food in Africa’s most- populous nation. The inflation rate fell from 12.4 percent...

  • Posted July 19, 2011
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  Oceanic Bank of Nigeria Advances on Possible Takeover by Diamond Bank

  Oceanic Bank International Plc (OCEANIC), a Nigerian lender rescued by the central bank in 2009, rose the most in almost nine months after Diamond Bank Plc (DIAMONDB)’s finance chief said it was in “tentative” talks to acquire...

  • Posted July 19, 2011
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• An Africa-Focused Mutual Fund Outperforming Its ETF Peers

  By Ryan Hoover Few mutual funds consistently beat the market because their fees tend to counteract any expertise that their managers bring to the table. But if consistent outperformance through active management is possible, it’s most likely...

  • Posted July 19, 2011
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