All posts by Afolabi Ogunde

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  NNPC Diverts Dollars to CBN, Disrupts Forex Market

  According to forex traders, $700 Million Dollars expected to be sold to the interbank market by the Nigerian National Petroleum company was instead diverted to the Central Bank of Nigeria. Foreign exchange traders halted dealing on the...

  • Posted October 13, 2011
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  First Bank Acquires Equity Stake in Congolese Bank

  First Bank today announced its acquisition of a Congolese bank, the Banque International de Credit (BIC). The deal was ratified by the central Bank of Nigeria. B.I.C is regarded as one of the Congo’s most diversified financial...

  • Posted October 13, 2011
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  First Bank Profit After Tax up 32%

  First Bank plc has declared a profit after tax of N 42.9 billion for the 3rd Quarter period ended 30th September 2011. This was a 32% increase of PAT over the same period last year. Earnings before...

  • Posted October 13, 2011
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  UK Unemployment Reaches Alarming Proportions

  The United Kingdom’s Office for National Statistics has released troubling unemployment figures, pegging the unemployment rate at 8.1%. This figure represents 2.57 million people without jobs and the UK is faced with an increase of 114,000 unemployed,...

  • Posted October 12, 2011
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  Pepsi Releases 3rd Quarter Earnings ahead of analysts Estimates

  The World’s second most popular soft drink manufacturing company Pepsi Co has announced better than expected third quarter results. According to a survey by Thomson Reuters, analysts expected Pepsi to earn $1.30 a share on revenue of...

  • Posted October 12, 2011
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  Market Dips by 0.49%, Oceanic Delisted, UBN placed on Technical Suspension

  The Nigerian Bourse dipped for the second consecutive day in trading shedding 47 basis points today and bringing the All Share Index to close at 20012.07 after the days trading. First bank and Sterling Bank were the...

  • Posted October 11, 2011
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  Eurozone: China to the Rescue

  Growing Chinese investments in Eurozone nations are contributing to stability in the Euro currency, and improving market sentiment on the prospects of the region’s successful fight against a threatening financial crisis. China has a strategic interest to...

  • Posted October 11, 2011
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• Stock Market Depreciates By 59bp In Todays Trading

  The Nigerian Stock Exchange All Share Index depreciated by 0.59% to close at 20106.8 from 20225.02 on Friday. The biggest gainers on the bourse today were ROADS (4.88%), CAP (4.87%), Neimeth (4.85%), RTBriscoe (4.52%), and UBA (4.37%)....

  • Posted October 10, 2011
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• Central Bank Jacks Up Benchmark Rate to 12%

  Following wide speculations that the Nigerian Monetary Policy Committee would raise rates at the emergency meeting scheduled for 10am this morning, the MPC has gone ahead to do just that. However the bank raised the rate far...

  • Posted October 10, 2011
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• Central Bank Jacks Up Benchmark Rate to 12%

  Following wide speculation that the Nigerian Monetary Policy Committee would raise rates at the emergency meeting scheduled for 10am this morning, the MPC has gone ahead to do just that. However the bank surprised analysts, raising the...

  • Posted October 10, 2011
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