All posts by Afolabi Ogunde

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  Mobil Q1 2012 Earnings: Net Income Down 57% YoY

  Mobil recently reported its Q1, 2012 earnings. Headline revenue was up 22% to N 17.7 billion from N 14.5 billion over Q1, 2011. Additional income was reported at N 5 billion, up 267% from -N3 billion over...

  • Posted May 14, 2012
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  Custodian and Allied Insurance Q1 2012 Earnings, Gross Premiums Top N 3.5 billion

  Custodian and Allied Insurance recently reported its q1, 2012 earnings. Gross Premiums earned over the period topped N 3.5 billion up 16% from the N 3 billion it earned over the same period last year. Income from...

  • Posted May 14, 2012
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  Experts Justify Electricity Tariff Hike • MAN, NACCIMA Want New Tarrif Suspended

  EXPERTS in the electricity industry have raised their voices in the support of the proposed increment in the electricity tariff, which is expected to come into effect on June 1, 2012. The increment, as proposed by the...

  • Posted May 14, 2012
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  CBN Boss Undertakes N 55 Million Personal Social Responsibility Initiative for Red Cross

  Central Bank Deputy Governor, Tunde Lemo, has donated a N 55 million clinic to the Red Cross Society of Nigeria in Ogun State. The CBN deputy governor handed the clinic over last Wednesday stating, “I was driven...

  • Posted May 14, 2012
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  FIRS Arrests Management of Sweet Sensation, UTC Others Over N 1.8 billion in unremitted Taxes

  The Federal Internal Revenue Service (FIRS) has arrested senior management of several companies for tax related offences. The affected companies are Sweet Sensation, UTC and Pivotal Engineering. Abu Stephen, Assistant Director of Legal and Prosecution Department of...

  • Posted May 14, 2012
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  Chinese Construction Company and Nigerian Army Perpetrate Human Rights Abuses in Akwa Ibom

  Chinese Construction Company Engaged in Human Rights Abuses in Akwa Ibom Chinese nationals working with China Civil Engineering Construction Corporation (CCECC) have been exposed by the Civil Liberties Organization (CLO) for gross human rights violations in the...

  • Posted May 14, 2012
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  Fuel Subsidy Scandal: President Unlikely to Prosecute Allies

  Nigerian President Goodluck Jonathan is coming under pressure to prosecute top officials implicated in a $6.8 billion fuel subsidy fraud, but many of the suspects are allies he is unlikely to go after if wants to keep...

  • Posted May 14, 2012
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  Etisalat Blames Poor Power Supply for Quality of Service Issues, After $ 2m Fine

  After being fined N 1.17 billion alongside MTN, Airtel and Globacom by the Nigerian Communications Commission (NCC), Etisalat has admitted to the poor service delivery. However the company has blamed poor power supply, sabotage and other infrastructural...

  • Posted May 14, 2012
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  Sterling Bank Reports Q1, 2012 Earnings of N 17 billion, Net Income of N 1.3 billion

  Sterling Bank recently reported its first quarter earnings. The bank took made N 17 billion in gross earnings, up 78.8% from the N 9.6 billion it made in Q1, 2011. Interest income was up 116% at N13.6...

  • Posted May 11, 2012
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  Boko Haram Attacks Hurting Sales at Nigerian Breweries, CEO Says Still Open to Opportunity

  Nigerian Breweries Plc , the nation’s largest brewer by market value, said bombings and attacks by Boko Haram Islamists are curbing sales in the north. “People are more reluctant to go out and retail sales in the...

  • Posted May 11, 2012
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