All posts by Afolabi Ogunde

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  Dangote Cement to Begin Operations in Liberia, Makes Initial $35 Million Investment

  Dangote Cement is to begin operating a subsidiary in Liberia within the next six weeks. The subsidiary named Dangote Cement Liberia will receive a capital injection of $35 million from the parent company in Nigeria. These details...

  • Posted March 20, 2012
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  Porsche targets rich Nigerians’ love for luxury

  Nigeria’s super rich are no strangers to conspicuous consumption, and there’s no better way to flaunt your wealth than by buying a brand new European sports car. German carmaker Porsche officially opened a new car dealership on...

  • Posted March 20, 2012
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  Arunma Oteh Calls House of Rep Committee’s Allegations “Frivolous” – Full Press Statement Inside

  Arunma Oteh and the Securities and Exchange Commission (SEC) have released a press statement in order to clear the air concerning the allegations of incompetence and graft levelled against her by the House Committee on Capital Markets....

  • Posted March 20, 2012
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  Europe Commits N20 billion to Fight Corruption, Drug Trafficking in Nigeria

  The European Union (EU) has provided Nigeria with €98 million worth of funding commitments to help tackle corruption, drug trafficking and to boost the judicial system. The agreement was signed on Monday by the Minister of National...

  • Posted March 20, 2012
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  Nigerian Stock Exchange Watch: ASI Gains 1.13% as Bulls outperform Bears

  The Stock Market gained 113 points today due to an overwhelming outing of bullish performers successfully overcoming initial bearish sentiment. Dangote cement was up 285 points. Other blue chips trading in the green today included UAC (+5%)...

  • Posted March 19, 2012
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  Carlyle Group launches new Private Equity fund for Africa, Aims for $500 Million

  About a year after it launched an investment team for sub-Saharan Africa, US-based private equity firm, The Carlyle Group, is raising a new fund focused on the region.  The Carlyle sub-Saharan Africa Fund comes hot on the...

  • Posted March 19, 2012
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  KAINJI HYDRO STATION BACK ON NATIONAL GRID

  The Kainji Hydro Power Station is back on stream and delivering power to the national grid from its four available units that were shut down three days ago, Minister of Power, Prof. Bart Nnaji, announced this morning....

  • Posted March 19, 2012
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  2011 Earnings: GTBank Deposits North of N 1 trillion, Net Income at N 52 billion

  GTBank has released its 2011 financial statements. The bank reported a 23% change in Earnings from N 153 billion in 2010 to N 188 billion in 2011. The bank also reported a 28% increase in operating income,...

  • Posted March 19, 2012
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  States, LGs get Authorization to Generate and Distribute Electricity

  The Nigerian Electricity Regulatory Commission (NERC) has authorized local governments and communities the ability to generate and distribute their own electricity. NERC recently issued two regulations entitled “NERC Regulation on Embedded Generation 2012,” and “NERC Regulation for Independent...

  • Posted March 19, 2012
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  We looted N14.3b Pension Cash, suspects confess

  DETECTIVES at the Economic and Financial Crimes Commission (EFCC) are questioning a Federal Permanent Secretary and two directors in some ministries for allegedly stealing about N14.3billion Police Pension cash. The suspects, The Nation learnt yesterday, explained how...

  • Posted March 19, 2012
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