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  • Equities value rises by N324bn as rally deepens

    The market capitalisation of equities listed on the Nigerian Stock Exchange surged by N324bn or 3.1 per cent to close at N10.763tn on Wednesday, boosted by increased demand for stocks. The NSE All-Share Index also rose by...

    • Posted August 7, 2015
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  • CBN, MTN in talks over $600m debt repayment

    MTN Group Limited is in talks with the Central Bank of Nigeria about the early repayment of almost $600m of debt to reduce exposure to the naira, which has weakened against the rand this year. “We have...

    • Posted August 7, 2015
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  • Wapic Insurance recorded N4bn premium in Q2

    The naira firmed against the dollar at the parallel market on Wednesday following the Central Bank of Nigeria’s sales of about $80m to bureau de change operators, traders said. Specifically, the naira rose to 219 to the...

    • Posted August 7, 2015
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  • 158 investors to get N42.2m from protection fund

    The Board of Trustees of the Investors’ Protection Fund of the Nigerian Stock Exchange on Wednesday said that it would compensate 158 claimants for “pecuniary losses suffered by them as a result of wrongdoing by certain dealing...

    • Posted August 7, 2015
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  • Customs rakes in N5.8billion in four months

    With the assumption of office of a new Controller for the Nigeria Customs Service, Oyo/Osun Area Command, Muhammed Suleman Bawa in March this year, the command said it generated more than N5.8 billion between the period and...

    • Posted August 7, 2015
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  • Nigeria’s financial penetration rate still low – IMF

    The International Monetary Fund (IMF) has said the rate of financial penetration in Nigeria was still low compared with her peers. The multilateral institution noted that recent surveys indicated that although Nigeria’s financial penetration rate was improving,...

    • Posted August 6, 2015
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  • Dangote opens Zambian Cement Plant, says four more to come in 2015

    Dangote Group on Tuesday inaugurated its 1.5 million metric tonnes per annum (mmtpa) capacity cement plant valued at $400 million with a  30 megawatts coal plant  to power the factory. The  project was  inaugurated by Zambia President...

    • Posted August 6, 2015
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  • Naira weakens to N229/$ as dealers hold on to USD

    The naira reversed its gains against the US dollar on the parrallel market yesterday following the decision of many currency traders to hold on to the green back currency as a result of what they term conflicting...

    • Posted August 6, 2015
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  • Refineries to operate at 90% capacity after TAM – NNPC

    The General Manager, Services, of the Nigerian National Petroleum Corporation (NNPC), Mr. Abubakar Muhammed,  has said the nation’s four refineries would operate at 90 per cent capacity on completion of the ongoing Turn Around Maintenance (TAM). Muhammed...

    • Posted August 6, 2015
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  • NERC to penalise Discos that reject power allocations

    The Nigerian Electricity Regulatory Commission has issued an order imposing financial penalties on any electricity distribution company that rejects power allotted it by the system operator. This, it said, was especially when there was no notification ahead...

    • Posted August 6, 2015
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  • Ikeja Electric to upgrade substation

    Residents of parts of Lagos will experience power disruption for nine days as Ikeja Electric upgrades the Ijaiye 11kV injection substation located at Ijaiye/Ojokoro in the state. The company, in a statement signed by its Head of...

    • Posted August 6, 2015
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  • Food security: Female farmers advocate price control

    Women farmers in Osun State have appealed to Governor Rauf Aregbesola to introduce price control mechanism for agricultural produce in order to encourage more investment in farming and ensure food security. The farmers said this in Osogbo...

    • Posted August 6, 2015
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  • Seplat Petroleum seeks domestic energy security

    The London-listed Seplat Petroleum Development Company (SPDC) Plc has stated that domestic energy security was key to Nigeria’s future development, stressing that this could be achieved in the next five years. Speaking on Tuesday in Lagos at...

    • Posted August 6, 2015
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  • Oliseh to ring closing bell at Nigeria Stock Exchange

    New Super Eagles boss, Sunday Oliseh, is scheduled to ring the closing bell of the Nigeria Stock Exchange in Lagos next Monday. The former national team captain, will carry out the function, during a special visit which...

    • Posted August 5, 2015
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