All posts by Afolabi Ogunde

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  GT Assur Acquired By Offshore Consortium, GTBank Books Gain on Sale

  GTBank recently announced its divestment from GT Assur, formerly the insurance subsidiary of the bank, and released the transaction dynamics to the public. The bank has completed the offloading of its 6.8 Billion shares in the insurance...

  • Posted October 27, 2011
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  Nigerian Stock Market Gains Third Straight Day

  The All Share Index is on a bullish streak, appreciating for the third straight day in a row. Today’s appreciation of 1.13% put the ASI at 20,607.37. The banking sector led the bulls today with Zenith (4.96%),...

  • Posted October 27, 2011
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  All Share Index Gains Second Consecutive Day

  On the back of a strong outing by the banking sector, the All Share Index gained 49 basis points today closing at 20,376.73. The Index is on a two day gaining streak. Top-tier banks Zenith Bank, UBA...

  • Posted October 26, 2011
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  Oando Reports Impressive 3Q Numbers, Floors Analysts Estimates

  Oando Plc, the golden child of the Nigerian indigenous Oil and gas sector released its unaudited 3Q statements earlier this week. Turnover for the 9 months period has been significant at $ 2.5 Billion USD (NGN 392...

  • Posted October 26, 2011
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  Eurozone Crisis: Sarkozy Proves EU Not Too Proud To Beg, Asks Cameron To Shut Up

  The President of France, Nicolas Sarkozy, Plans to call the Chinese Premier a day ahead of the visit of the European Financial Stability Facility’s (EFSF) trip to the Asian Tiger Giant. According to Bloomberg, Laus Regling, head...

  • Posted October 26, 2011
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  US Supreme Court to hear Nigeria-Shell rights case

  The US Supreme Court said Monday it will consider a lawsuit accusing Royal Dutch Shell of human rights abuses, a case that could make companies liable for torture or genocide committed overseas. The plaintiffs, relatives, of seven Nigerians...

  • Posted October 25, 2011
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  All Share Index Records Marginal Gains

  The All Share Index inched up marginally by 0.11% erasing yesterdays losses and closing the Index YTD numbers at 20,278.16. Transcorp announced the appointment of a new CEO, Mr. Obinna Ufudo, formerly of HEIRS holding and a...

  • Posted October 25, 2011
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  Transcorp Board Appoints New CEO, Non-Executive Director

  The board of Transcorp, the publicly traded conglomerate, has appointed Obinna Ufudo as the new CEO of the company. Obinna was the COO at HEIRS Holding, an African Investment company founded by Tony Elumelu, former CEO of...

  • Posted October 25, 2011
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  Flour Mills Soon Embarks On Rights Issue, Aggressive Expansion In the Works

  Flour Mills Plc, a blue chip company operating in the Food and Beverages sector has stated that it will raise N 28.24 Billion in a rights issue. Shareholders approved the deal in June this year that will...

  • Posted October 25, 2011
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• Stock Exchange Closes the Week on Positive Note

  The Nigerian stock Market closed the week on the upbeat as the All Share Index rose 0.61% to close at 20,257.47. Leading the bulls was the banking sector buoyed by strong quarterly earnings. First Bank (+5%), Zenith...

  • Posted October 21, 2011
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