All posts by Afolabi Ogunde

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  Mobil Earnings 2011: Net Income Down Marginally, Proposes N5 Dividend and Bonus Issue

  Mobil Nigeria has released its financial year end 2011 audited financial statements. The company reported a 6.4% increase in Revenue at N 62 billion from N 58 billion in 2010. The company, however, reported an increase of...

  • Posted April 3, 2012
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  UAC Nigeria 2011 Earnings Impressive, Net Income at N 10 billion, Proposes N 1.50 Dividend

  UAC Nigeria, one of the country’s leading conglomerates, and consumer goods manufacturers has released its Financial Year End 2011 audited financial statements. The company reported a 21% increase in headline Revenues at N 63.5 billion from N...

  • Posted April 3, 2012
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  UAC Property 2011 Earnings Up 31%, Rewards Shareholders with N0.65 Dividend

  The operators of the Golden Tulip Hotel and Victoria Mall Plaza, UAC Property Development Company Plc (UPDC), has released its FYE 2011 audited financial statements. The company reported a 31% growth in headline revenue from N 8.2...

  • Posted April 3, 2012
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  Islamic Development Bank Pledges to Provide N 310 Billion for Jonathan’s Transformation Agenda

  The Islamic Development Bank (IDB) has pledged N 310 billion ($ 2 billion) in order to support President Jonathan’s transformation agenda. The funding will be provided between 2012 and 2014. Vice President, Sambo disclosed this during his...

  • Posted April 3, 2012
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  Three Senior Officials Sacked Over Poor National Power Supply

  The minister of Power, Professor Barth Nnaji, has sacked three senior officials in the electricity sector due to the current state of low power supply in the country. The three officials are the Managing Director, Transmission Company...

  • Posted April 3, 2012
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  Akingbola (1) vs EFCC (0): Federal Judge Throws out Corruption Charges Against Former Bank Chief

  A Federal High Court sitting in Lagos has dismissed the charges against the embattled former Intercontinental bank boss, Erastus Akingbola (OON). Justice Charles Archibong has dismissed every single one of the 22-count corruption charge against Akingbola on...

  • Posted April 2, 2012
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  Nigeria Stock Exchange Watch: Market Begins Second Quarter on Negative Note

  The market resumed the second quarter of 2012, continuing its free-fall, shedding 0.01% today, after shedding 2.54% last week. Selling pressure forced most of the banking and consumer stocks to spiral downwards. Although some blue chip companies...

  • Posted April 2, 2012
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  Dangote to Divest 80% of Food Biz, Plans 2,000MW IPP and Build $1.5 Billion Port

  Dangote Group has revealed that it is planning to sell up to 80% stakes in its Food segment businesses which include Dangote Flour, Dangote Sugar, and Nascon (Dangote Salt). Alhaji Aliko Dangote revealed the company’s strategy during...

  • Posted April 2, 2012
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  Dangote to Step Down as Chairman of Dangote Cement amidst Plans to List on London Stock Exchange

  Alhaji Aliko Dangote is not sitting on his laurels as Africa’s richest man. The self-made billionaire, albeit with a little government help, has indicated that he is going to list his multi-billion dollar cement company on the...

  • Posted April 2, 2012
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  Skye Bank initiates ‘open house’ for e-banking

  SKYE Bank Plc has adopted an innovative way of introducing e-banking services to its customers. This new approach is an interactive forum tagged “Open House”, the first round of which was held at four different branch locations...

  • Posted April 2, 2012
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