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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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  • Diamond Bank partners Pagatech on branchless financial services

    Diamond Bank Plc has entered into partnership with the Central Bank of Nigeria’s licensed company, Pagatech, to offer branchless and cashless financial services to Nigerian consumers. Diamond Bank and Paga have been working together on this initiative...

    • Posted October 25, 2011
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  • FG’s Fertiliser Subsidy Is Fraudulent – Sanusi

    THE Central Bank of Nigeria (CBN) governor, Mallam Lamido Sanusi, on Monday, said the subsidy on fertilisers to Nigerian farmers by the Federal Government is a fraud, saying that only about 11 per cent of the subsidised fertilisers...

    • Posted October 25, 2011
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  • Ecobank Completes Acquisition Oceanic Bank

    Ecobank Transnational Inc. (ETI), the parent company of the Ecobank Group, the largest pan-African banking group by geography, with presence in 32 countries, is pleased to announce the 100% acquisition of Oceanic Bank International PLC, following approvals...

    • Posted October 25, 2011
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  • Steve Jobs book may be Amazon’s 2011 top seller

    The new biography of deceased Apple Inc Chief Executive Steve Jobs may be Amazon.com Inc’s top-selling book of 2011, a spokeswoman at the largest Internet retailer said on Monday. The biography “Steve Jobs,” by Walter Isaacson, hit...

    • Posted October 24, 2011
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  • CBN Fails to Meet Demand for Greenback at Auction

    Nigerian Naira depreciated marginally today as the CBN was unable to meet the demand for the greenback. The echelon bank was only willing to sell $350 Million as against $421 Million demanded by the market. The CBN...

    • Posted October 24, 2011
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  • Oranto Petroleum to get oil block in Sao Tome

    Sao Tome’s National Petroleum Agency has awarded oil blocks to Nigerian company, Oranto Petroleum  three other companies. The block Sao Tome awarded to the Nigerian company covers an area of 4,228 km2 and is situated in Zone A of...

    • Posted October 24, 2011
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  • CBN cuts dollar reserve to stabilise Naira

    The Central Bank of Nigeria (CBN) will sell United States (US) dollars both directly into the market and at auctions, the bank said, at the weekend. The CBN has also lifted the amount of dollars banks can...

    • Posted October 24, 2011
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  • Why we are reviewing concession pacts – Stella Oduah-Ogiemwonyi

    Aviation Minister, Mrs  Stella  Oduah-Ogiemwonyi,  has explained why her ministry is reviewing the concession and lease agreements with some firms. She said at the weekend  that once ‘such agreements’ fail to meet the expected dividends, there is no...

    • Posted October 24, 2011
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  • Equator Mines Nigeria hopes for $1billion investment

    United Kingdom firm, Savannah Mining Limited and two South African companies – Equator Minis and VML Resources Limited – are to inject about $1billion into a Nigerian firm, Equator Mines Limited. The investment is for the production of tin...

    • Posted October 24, 2011
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  • Nigerian Stock Exchange Announces New Capital Market Initiatives

    In line with the vision of the DG of The Nigerian Stock Exchange (NSE) to increase the market cap of the bourse to US $ 1 Trillion in less than five years, the Nigerian Stock Exchange has...

    • Posted October 24, 2011
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  • FCMB Posts 3Q Numbers, PAT Up 72%

    FCMB Plc, an operator under the International Banking License issued by the CBN and recent acquirer of Fin Bank Plc has released its 3Q 2011 results. The company recorded a 23.4% gain in gross earnings from N...

    • Posted October 24, 2011
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  • Frank Kokori Interview : If refineries work, we won’t talk about subsidy

    As the controversy generated by the Federal Government’s plan to remove fuel subsidy rages, former president of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Chief Frank Kokori, says those in authority are not...

    • Posted October 22, 2011
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