All posts by Afolabi Ogunde

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  Notore plans N156bn investment in new fertiliser plant

  Notore Chemical Industries Limited, Nigeria’s leading fertiliser, agro-allied chemicals and seeds development group, plans to invest over $1bn (N156bn) in the construction of a new fertiliser plant. The planned investment is part of the company’s expansion programme...

  • Posted March 21, 2012
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  CBN to Go Hard on Banks Involved in Pension Fraud

  The Governor of the Central Bank of Nigeria, Lamido Sanusi, disclosed to journalists yesterday that the apex bank would penalize any banks found to be culpable in the Pension scam currently being investigated by the Senate. Speaking...

  • Posted March 21, 2012
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  Oteh’s one-day food bill stirs fresh controversy

  A receipt obtained by THE PUNCH on Tuesday revealed how the Director-General, Securities and Exchange Commission, Ms. Arumah Oteh, allegedly spent the sum of N850,000 at the Transcorp Hilton Hotel, Abuja. There were, however, discrepancies in the figures on...

  • Posted March 21, 2012
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  Foreign Exchange Reserves Appreciate 9% to $35 billion, Exchange Rates Fall

  The country’s foreign exchange (forex) reserves have improved by 9% since the beginning of the year. The forex reserves now stand at $35.43 billion (as at March 14th, 2012), up from $32.64 billion at the end of...

  • Posted March 21, 2012
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  SEC Initiates Internal Investigation to Unravel Spy Ring providing Internal Memos to Hembe

  An internal investigation is also underway at SEC to discover who the mole is that continually provides Herman Hembe with internal correspondences. Herman Hembe, who up until he disqualified himself yesterday was, the House Committee Chairman on...

  • Posted March 21, 2012
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  Nigerian Stock Exchange Watch: Market Sustains Marginal Losses, Closes at 21,006

  The Market succumbed to the bears due to selling pressure on some of the bourse highly capitalized stocks including Zenith Bank (-0.76%), Access (-1.83%), First Bank (-4.13%) and Guinness (-1.23%). The All Share Index fell 0.26% to...

  • Posted March 20, 2012
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  FCMB records N9.9bn Net Loss, Proposes Bonus Issue

  First City Monument Bank Plc has announced a net loss of N9.9bn for the full year ended December 31, 2011. The bank’s profit after tax, which stood at N7.9bn in December 2010, fell by 225 per cent...

  • Posted March 20, 2012
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  Federal, state and local governments share N621 billion for February

  The Federal, state and the local government areas in Nigeria will share the sum of N621 billion for the month of February, 2012. This was disclosed by the Minister of state for finance, Yerima Ngama after the...

  • Posted March 20, 2012
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  Inflation Drops to 11.9% in February, Food Inflation Rises

  Information recently released by the National Bureau of Statistics (NBS) indicate that inflation fell in the month of February. The Consumer Price Index (CPI) was recorded at 11.9% as against 12.6% recorded in January. The partial removal...

  • Posted March 20, 2012
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  Nigeria Internet Group to Grant N 1,000,000 for Young Entrepreneurs in I4J Competition

  The Nigeria Internet Group has declared open the “Internet for Jobs” initiative designed to explore the potential of the Internet to create jobs for the people. It is also aimed at transforming the country into a knowledge...

  • Posted March 20, 2012
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