All posts by Afolabi Ogunde

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  AMCON Vows to Collect on All Bad Loans Outstanding

  The Asset Management Corporation of Nigeria (AMCON) has released a statement indicating its readiness to collect on all outstanding bad debts and accrued interest from the debtors that caused many banks to crash before the CBN intervention....

  • Posted January 5, 2012
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  EuroZone Update: Greece Seeks More Bailout Funds, Threatens to Depart Economic Block

  Prime minister of Greece, Lucas Papademos has requested an additional financing line from the European Central Bank and International Monetary Fund to the tune of € 130 billion. The embattled sovereign has an obligation to its creditors...

  • Posted January 5, 2012
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  Chinese New Year of the Dragon to Boost Demand for Gold

  China, the second-largest gold-jewelry market after the United States, is expected to increase iits consumption by as much as 35% according to Frost & Sullivan, a global research and consulting company. Chinese custom calls for the gifting...

  • Posted January 5, 2012
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  Government Yet to Reverse Decision on Fuel Subsidy, Orders 1600 Mass Transit Buses to “Cushion Effects”

    The emergency meeting of the Federal Executive Council held earlier today ended with one thing for certain. The government has not yet decided to reverse its decision on the Fuel Subsidy withdrawal.   Despite overwhelming mass...

  • Posted January 4, 2012
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  MTN to Invest $ 1 Billion in 2012 to “improve network” – Goodluck

  MTN Group Ltd. (MTN), Africa’s largest mobile-phone operator, will spend more than $1 billion this year to improve its network in Nigeria after the nation’s phone regulator last year demanded better service. “The investment will relieve congestion and improve...

  • Posted January 4, 2012
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  Stock Market Watch: Market Capitalization at N 6.5 trillion

  The Nigerian Stock Exchange started the session today with some upwards momentum, however the bourse succumbed to bearish resistance leading the ASI to shed 0.17% and close at 20,635.07 All tickers across the banking sub-sector fell in...

  • Posted January 4, 2012
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  Labour Unions Declare Strike from January 9th, Advise Nigerians to Stockpile Food and Water

  The National Labour Congress (NLC), and the Trade Union Congress (TUC), Nigeria’s foremost labour organizations, have released a joint statement calling on the Federal Government to reverse the pump price of petrol back to N 65 or...

  • Posted January 4, 2012
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  Earnings Forecast: Dangote Cement Forecasts N 69 billion Q1 Revenue, Predicts PAT Increase of 41%

  Dangote Cement has disclosed to the Nigerian Stock Exchange its revenue forecast for the first quarter of 2012 (Q1, 2012). The largest cement manufacturer in sub-Saharan Africa is poised to earn N 69.16 billion, an improvement of...

  • Posted January 4, 2012
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  Qatar’s Police Force Uses Porsche Panamera to Hunt Down Bad Guys

  Whilst the Nigerian Police Force is struggling to acquire a fleet of Toyota Hilux that can rival the average construction company’s, another oil producing country that has prudently managed its resources over time has acquired a fleet...

  • Posted January 4, 2012
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  Lafarge appoints new CEO, Joe Hudson

  Lafarge has notified The Exchange of the appointment of Mr. Joseph Hudson as the new Managing Director / CEO of the Company, following the resignation of Mr. Samy Abdelkader.  Mr. Abdelkader resigned his appointment with effect from...

  • Posted January 4, 2012
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