All posts by Afolabi Ogunde

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  Jonathan’s Chief Economic Adviser Delusional on Power Situation in Nigeria

  The Chief Economic Adviser to the President, Prof. Nwanze Okedigbe, has claimed that the power generation in the country now stands at 4,400 Megawatts. This is in spite of the fact that many Nigerians are still wallowing...

  • Posted May 9, 2012
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  FG Awards Gold Mining Licenses to 7 Firms

  The Federal Government has awarded gold mining licenses to seven firms. The Minister of Mines and Steel Development, Mr. Musa Sada, revealed the identities of the firm as Retel, Savannah Gold, CGC Nigeria Ltd, Erin Mineral Resources,...

  • Posted May 9, 2012
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  CBN Boss, Oteh Accused of Lying to House Committee by Former Afribank MD

  The former Group Managing Director of the defunct Afribank, Sebastian Adigwe has accused the Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu and Ms. Arunma Oteh of spreading falsehood concerning the activities of Afribank during...

  • Posted May 9, 2012
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  Nigerian Stock Exchange Watch: Market Bubbles Back Up as Blue Chips Gain Big

  The stock market bubbled back up in today’s trading, gaining 38 points as the All Share Index closed at 22656.76. Market performance was driven by upticks in bluechips such as Dangote Cement, Zenith Bank, Mobil and Nigerian...

  • Posted May 8, 2012
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  Total Q1, 2012 Earnings Hit N 50 billion, Up 25% YoY

  Total Nigeria Plc, a downstream Oil & Gas company operating in Nigeria has released its Q1, 2012 earnings. The company reported a growth of 25% in Sales at N51 billion, up from N 40.8 billion over the...

  • Posted May 8, 2012
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  Oteh Reveals How Okereke-Onyuike Spent N 186 Million on Rolex Watches, N 37 Million on Yacht, Others

  The DG of the Securities and Exchange Commission (SEC) testifying before the House Committee probing the crash of the stock market has made some startling allegations against the past leadership of the Nigerian Stock Exchange in the...

  • Posted May 8, 2012
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  Brazil’s BTG launches $1bn Africa PE Fund

  Brazil-based BTG Pactual bank has launched a $1billion Africa-focused private equity fund, according to the bank’s chief executive Andre Esteves . The fund is touted to be the largest private equity vehicle exclusively targeting Africa, and is also set...

  • Posted May 8, 2012
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  Governors Betrayed Me During Fuel Subsidy Removal – President Jonathan

  President Jonathan has alleged that some of the governors backed out on him during the fuel subsidy removal episode in January. This was in spite of all the governors being in agreement on the removal of fuel...

  • Posted May 8, 2012
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  International Crime Syndicate Behind Niger Delta Crude Oil Theft– Shell

  The Managing Director of Shell Production and Development Company, Mutitu Sunmonu, has blamed the incessant theft of crude oil from the Niger Delta on a well organized international crime syndicate. In a report title “Shell Briefing Notes”...

  • Posted May 8, 2012
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  Nigerian Stock Exchange Watch: Bourse Down Marginally, Still on 38 Week High

  The activity of profit takers conspired to push the bourse into negative territory at the close of trading today. Blue chip and highly capitalized stocks such as Nigerian Breweries (-2.37%), Zenith (-4.06%) and GTbank (-2%) came under...

  • Posted May 7, 2012
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