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  • Spill: Shell pays N15bn to Rivers community

    Oil giant, Shell, has paid the sum of £55m (about N15.4bn) as compensation to residents of Bodo area of Rivers State, where two oil spills occurred in August and December 2008. Amnesty International and the Centre for...

    • Posted January 8, 2015
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  • “Islamic banking good for Nigeria” – Ali

    The President, Islamic Development Bank, Jeddah, Saudi Arabia, Dr. Ahmad Ali, says Islamic banking has the capacity to boost economic growth and development in Nigeria. He said the banking system could help the government to raise huge...

    • Posted January 8, 2015
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  • Transcorp Hotels raises N4.2bn from Initial Public Offering

    Transcorp Hotels Plc (THP) has said it raised N4.2 billion from its recent initial public offering (IPO), indicating 52 per cent subscription level.  THP had issued 800 million shares at N10 per share to raise N8 billion....

    • Posted January 8, 2015
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  • CBN may further devalue naira after elections

    The Central Bank of Nigeria’s Monetary Policy Committee might be forced to devalue the naira again after the general elections scheduled to hold in February, it was learnt on Monday. The indication to this effect is coming...

    • Posted January 7, 2015
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  • Nigerian Equities Market opens on bearish note

    The Nigerian equities market shed  N240 billion on the first trading of 2015, indicating profit taking by some investors. The market, which  dipped by N1.748 trillion last year, opened for trading on a bearish note yesterday as...

    • Posted January 7, 2015
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  • National Assembly pledges to pass oil bill before June

    The two chambers of the National Assembly on Monday dispelled fears that the 7th National Assembly would not pass the Petroleum Industry Bill before the end of its tenure on June 5, 2015. The Senate and the...

    • Posted January 7, 2015
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  • Oil slides to five-and-a-half-year low at $53

    The prices of crude oil in the international market declined further on Monday raising fears that the Organisation of Petroleum Exporting Countries, which has seen its influence on the world oil markets dwindled in recent months, could...

    • Posted January 7, 2015
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  • Shareholders get UBA’s rights issue at 7.4% discount

    United Bank for Africa  (UBA) Plc is offering  shareholders a discount of  7.4 per cent in its  on-going  Rights Issue, which opened last week. The Nigerian Stock  Exchange (NSE) on Monday said the bank had formally sent...

    • Posted January 7, 2015
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  • Naira opens trading with marginal decline

    The naira depreciated against the dollar by 1.9 per cent to close at N185 at the interbank forex market on Monday, which was the first trading session of 2015. Also, trading at the Retail Dutch Auction System...

    • Posted January 7, 2015
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  • Power generation falls by 743MW in one week

    Peak power generation fell by 742.9 megawatts in the last one week to 3,646.8MW on January 4, 2015, down from 4,389.7MW recorded on December 29, 2014. The quantum of electricity available for distribution to various classes of...

    • Posted January 7, 2015
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  • External reserves may drop below $30bn – Analysts

    The continuous decline in the global prices of crude oil may lead to the further depletion of the country’s external reserves to below $30bn by the end of the second quarter of this year, analysts at BGL...

    • Posted January 7, 2015
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  • Stop losing 400,000 barrels of oil per day – Fashola tells FG

    Lagos State Governor, Mr. Babatunde Fashola, at the weekend, asked the federal government to stop losing 400,000 barrels of crude oil per day, which he said, could earn the country nearly $7.8 billion per annum at $50...

    • Posted January 6, 2015
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  • Stock Market remains positive despite profit taking

    The Nigerian equities market remained bullish last week despite the decline  recorded on the last trading day of the week, indicating that profit-taking has begun. However, there were also speculations that bargain hunting will continue to drive...

    • Posted January 6, 2015
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  • Oil slump cuts subsidy to 90 kobo per litre

    With the price of the global benchmark Brent crude closing at $57.94 per barrel last Monday, Nigerian government is now paying just 90 kobo as subsidy for a litre of petrol. The Petroleum Products Pricing Regulatory Agency,...

    • Posted January 6, 2015
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