All posts by Afolabi Ogunde

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  AirTel Apologizes Over Service Disruptions, Claims $ 600 Million Investments

  Airtel Nigeria apologized to its over 16 million subscribers for a service disruption it experienced on Saturday as construction activities damaged its cable network. A statement released by the Top 3 Telecom company stated, “Airtel Networks Limited...

  • Posted December 5, 2011
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  Petroleum Industry Bill Soon To Be Reintroduced In Senate

  Senate Chairman of the Committee on Petroleum (Upstream) has stated that the Petroleum Industry Bill (PIB) would soon be reintroduced to the House of Assembly for passage. Speaking with journalists in Abuja over the weekend, Senator Emmanuel...

  • Posted December 5, 2011
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  Singaporean Firm, Olam International, to Inject FDI of N 7.8 Billion for Rice Production

  Olam International Limited (“Olam” or “the Company”), a leading global, integrated supply chain manager and processor of agricultural products and food ingredients, today announced  that it would invest N 7.8 Billion (US$ 49.2 million) to set up...

  • Posted December 3, 2011
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  Oil Subsidy Beneficiaries List, A Who is Who of Power Brokers in Nigerian Government

  This week, the Senate Joint Committee on Petroleum Resources (Downstream) released a list of the beneficiaries of the Oil Subsidy in the country. Prominent Nigerians, recipients of National awards and cabinet members featured on the list. Notably...

  • Posted December 3, 2011
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  UBA’s Capital Restructuring Exercise Schedule Released

  Details pertinent to the schedule of the UBA capital restructuring exercise have surfaced. Shareholders should note that the shares of UBA will be placed ontechnical suspension on January 12, 2012. The new holding company will be listed...

  • Posted December 3, 2011
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  Stock Market Watch: ASI Closes Beneath 20,000 Threshold

  The Nigerian Stock Exchange buckled in daily trading following sell side pressure as the yuletide period closes in. The All Share Index shed 18 points closing below the 20,000 threshold at 19,967.84. Investors are making cash calls...

  • Posted December 1, 2011
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  UBA Plans To Restructure Business Units, Reduce Share Capital

  UBA has announced plans to seek shareholder approval in order to transfer its subsidiaries into a holding company as part of the CBN mandated restructuring exercise. The Nigerian lender has several subsidiaries including but not limited to...

  • Posted December 1, 2011
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  Central BankTo Sell N 125 Billion Worth of Bills Next Week, Bills Outperforming Inflation

  The Central Bank of Nigeria is gearing to sell N 125 Billion worth of treasury bills as part of its regular process of monetary supply control measures. The sale will take place next week Wednesday via the...

  • Posted December 1, 2011
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  CBN, Oil Majors Meet Dollar Demand, Causes FX Rate Stability

  According to data from the CBN website, the apex bank supplied $200 Million at its bi-weekly auction yesterday. This was in fulfillment of the entire demand of $ 200 Million required by participants in the auction. This...

  • Posted December 1, 2011
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  Nigeria Stock Exchange: Activity Levels Pick Up As ASI Makes Marginal Gain

  The All Share Index recovered at most extreme marginal levels, gaining just a point in daily trading. The volume of shares traded today on the Nigerian Stock Exchange  appreciated by 70% hitting north of 300 million units...

  • Posted November 30, 2011
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