All posts by BusinessNews Staff

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  JEPTFON calls for relocation of residents near tank farms in Lagos

  The Jetty and Petroleum Tank Farm Owners of Nigeria, JEPTFON, has called for the relocation of all residents near tank farms in the commercial city of Lagos. JEPTFON Executive Secretary, Mr. Enoch Karnawa, made the call in...

  • Posted March 23, 2013
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  SEC suspends Ecobank from capital markets

  The Securities and Exchange Commission (SEC) has suspended Ecobank from all capital market activities and from being a receiving bank because of irregularities surrounding a margin loan, a notice on its website said on Thursday. SEC, according...

  • Posted March 21, 2013
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  Zenith Bank shares listed in London Stock Exchange

  Zenith Bank Plc listed $850 million worth of its ordinary shares on the floor of the London Stock Exchange as global depository receipts (GDRs) at $6.80 apiece, the bank said on Thursday. One GDR represents 50 ordinary...

  • Posted March 21, 2013
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  Mixed reactions trail exclusion of banks from margin list

  Stakeholders in the Nigerian capital market have reacted to the exclusion of banks from companies that can access margin loan for trading shares. A margin loan or a margin account is a loan made by a brokerage...

  • Posted March 21, 2013
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  Nigeria makes $469m over PHCN sale

  Nigeria’s Bureau of Public Enterprise (BPE) said it had received the sum of 469,031,940.46 million dollars from preferred bidders for PHCN successor companies. This is contained in a statement issued by Mr Chigbo Anichebe, Head, Public Communication,...

  • Posted March 21, 2013
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  Contract to link ports to rail to be awarded soon – Jonathan

  The Federal Government of Nigeria has stated that it would soon award contract for the linking of the nation’s ports to the rail line as a means of reducing the pressure on Port. President Goodluck Jonathan made...

  • Posted March 21, 2013
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  Sale of pre-registered sim cards: NCC team hands over telecom agent to police in Enugu

  An enforcement team of the Nigeria Communications Commission, NCC, on Wednesday handed over an agent of a telecom operator (name withheld) to the police for violating sim card registration rule. The exercise was carried out in Enugu...

  • Posted March 21, 2013
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  NCAA Grounds Aero Contractors

  Hundreds of striking workers of Aero Contractors erupted in jubilation on Wednesday after learning that the Nigerian Civil Aviation Authority, NCAA, had grounded Nigeria’s second largest airline until the crisis between management and staff is resolved. Aero...

  • Posted March 20, 2013
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  CBN retains 12 per cent lending rate, worried about corruption

  The Central Bank of Nigeria (CBN) on Tuesday retained its tight monetary stance and left rates unchanged for the umpteenth time. Both the Monetary Policy Rate (MPR); the Cash Reserve Requirement (CRR) and the Liquidity Ratio were...

  • Posted March 20, 2013
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  Unity Bank, Oando, others lift NSE’s market capitalisation by N94b

  Following price gains by major blue chip companies, especially Unity Bank and Oando, equity transactions on the Nigerian Stock Exchange re-opened in an upbeat on Monday, as market capitalization rose by N94 billion. Specifically, at the close...

  • Posted March 20, 2013
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