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  • Oceanic Bank to transfer 40.17 pct to Ecobank

    Nigeria’s rescued lender Oceanic Bank said on Friday it would seek shareholders’ approval for the transfer of 40.17 percent of its holdings to Ecobank Transnational Incoporation , which it signed a merger deal with last month. In a...

    • Posted September 2, 2011
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  • Access Bank says Intercontinental Bank shareholders to get 10 pct

    Access Bank Plc said, yesterday, that shareholders of Intercontinental Bank Plc will be left with 10 per cent of their holdings in the new entity that will emerge after the conclusion of the proposed merger scheduled to...

    • Posted September 2, 2011
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  • Custodian Insurance announces share buy-back

    Custodian and Allied Insurance Plc. announced the country’s first share buy-back on Friday, a move expected to be followed by other companies with depressed share prices and flush with cash. Advisors to the general and motor insurance...

    • Posted September 2, 2011
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  • Daily Stock News (Sep 1,2011)

    Equity market extends the losing streak for eight straight days in a row as bearish sentiments continued to dominate market atmosphere while investors still lack bargain confidence towards investments in equities with market recording four losers for...

    • Posted September 1, 2011
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  • Visafone crashes tariff to less than 1 kobo per second

    Visafone has again crashed its tariffs for within-the-network calls to less than 1 kobo per second.The move was aimed at giving Nigerians the comfort to call loved ones with its newly introduced mega bumper package dubbed ‘Fantastic...

    • Posted September 1, 2011
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  • N200b insurers’ funds trapped in stock market – NIA

    About N200billion representing 40 per cent of insurers’ funds are trapped in the capital market, according to the 2010/2011 Annual Reports and Account released by the Nigerian Insurers Association (NIA), the trapped funds are part of the...

    • Posted September 1, 2011
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  • NNPC takes over SPDC’s oil blocks

    The Nigerian National Petroleum Corporation (NNPC) has taken over some of the oil blocks which the Shell Petroleum Development Company (SPDC) is divesting. This was confirmed by NNPC spokesman, Levi Ajuonuma, who said that the corporation had...

    • Posted August 31, 2011
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  • U.S. moves to block AT&T, T-Mobile deal

    The Obama administration sued to block AT&T Inc’s $39 billion (24 billion pounds) acquisition of wireless rival T-Mobile on concerns it would harm competition, launching its biggest challenge yet to a takeover and dealing the carrier a...

    • Posted August 31, 2011
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  • Low megawatts generation at Papalanto is not our fault – Chinese Firm

    Project Manager of SEPCO III, Mr. Li Xianlai has said there must be uninterrupted supply of gas to major power plants across the country to realise government’s desire to up the nation’s electricity generation capacity to 5,000...

    • Posted August 31, 2011
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  • AMCON Plans to Boost Bond-Sale Limit by 50%

    Asset Management Corp. of Nigeria, which buys non-performing debt from lenders in the West African nation, wants to raise the amount of bonds it is allowed to sell by 50 percent to 4.5 trillion naira ($29 billion)....

    • Posted August 31, 2011
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  • Access Bank of Nigeria Plans to Buy 75% of Intercontinental Bank

    Access Bank Plc (ACCESS), a Nigerian lender, will seek approval from its shareholders to buy 75 percent of Intercontinental Bank Plc , which was bailed out by the West African nation’s central bank in 2009. Shareholders will also be...

    • Posted August 30, 2011
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  • Afren reports 42 percent drop in profit

    Plans for increasing production at Africa-focused oil and gas firm Afren are on track, it said on Tuesday, after reporting a 42 percent drop in profits in the first half of the year after a delay in...

    • Posted August 30, 2011
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  • Flour Mills of Nigeria to start Sugar Refinery in 2012

    Flour Mills of Nigeria Plc’s sugar refinery, which is under construction in Lagos, will start producing the sweetener in the second quarter of 2012, said Vlassis Liakouris, the company’s group treasurer. The refinery will have an initial...

    • Posted August 29, 2011
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  • Daily Stock News (Aug 29,2011)

    Today, the year to date market performance plunged further with a significant weight loss while equity market closed with the bears as investors’ appetite continued to dry-out with extended bearish sentiments dominating market activities. More so, the...

    • Posted August 29, 2011
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