All posts by BusinessNews Staff

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  Oando’s oil reserves increased by 82%, worth $1.8bn

  Oando Energy Resources Incorporated, a wholly-owned subsidiary of Oando Plc focused on oil and gas exploration and production in Nigeria, says it has significantly increased its oil reserves as a result of technical revisions and the acquisition...

  • Posted April 12, 2015
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  NATCOM makes full payment for NITEL

  The preferred bidder for Nigerian Telecommunications Limited, NATCOM Consortium, has paid $176,575,700 (N29, 696,469,600) as the outstanding amount for the acquisition of the Federal Government-owned company. The amount represents the outstanding 70 per cent of the $252,521,000...

  • Posted April 12, 2015
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  SEC tasks shareholders on growth of companies

  The acting Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, has urged shareholders to increase their monitoring of companies with a view to contributing to their growth. Speaking at a seminar organised by Independent...

  • Posted April 11, 2015
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  Post Election bond rally stalls on naira concern

  Nigeria’s post-election bond rally is stalling as foreign investors wait for a devaluation of the naira before buying the nation’s debt. Yields on benchmark naira bonds due March 2024 have climbed 61 basis points in the past...

  • Posted April 11, 2015
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  Equities rally lifts NSE index by 1%

  Equities on the Nigerian Stock Exchange rose on Thursday after a two-day drop, boosting the NSE All-Share Index by 1.01 per cent. Following four straight days of gains last week, equities had opened the week on a...

  • Posted April 11, 2015
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  CBN to publish new list of bank debtors

  In an effort to forestall another build up of non-performing loans (NPLs) in the banking industry, the Central Bank of Nigeria (CBN) and deposit money banks (DMBs) in the country yesterday disclosed plans to publish the names...

  • Posted April 11, 2015
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  AON congratulates Buhari, seeks improved aviation sector

  The Airline Operators of Nigeria (AON) has congratulated the President-elect, General Muhammadu Buhari (retd) and the outgoing President Goodluck Jonathan for the peaceful atmosphere that reigned supreme during the just concluded presidential elections. The body has also...

  • Posted April 11, 2015
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  CBN raises N183bn T-bills at lower yields

  The Central Bank of Nigeria has raised N183.64bn ($923m) in Treasury bills with yields falling compared with the previous sale last month. The Treasury bill yields fell in accordance with declining yields on fixed assets on renewed...

  • Posted April 11, 2015
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  Agency gives BoI good credit rating

  The Bank of Industry has secured a domestic credit rating of A- from Agusto & Co, a leading Nigerian credit rating agency. By the rating, the Bank of Industry has been adjudged an institution with a good...

  • Posted April 11, 2015
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  NDIC advises Aso Savings on Union Homes acquisition

  The Managing Director, Nigeria Deposit Insurance Corporation, Alhaji Umaru Ibrahim, has advised the management of Aso Savings and Loans Plc to ensure sound corporate governance in Union Homes Savings and Loans Plc. Ibrahim made the remark when...

  • Posted April 11, 2015
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