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  • NSE ASI dips by 0.12% on Tuesday

    Transactions at the Nigerian Stock Market on Tuesday ended on a bearish trend as the All Share Index, ASI, dipped by 48.53 points or 0.12 percent to close lower at 39,858.23 basis points when compared with Monday’s...

    • Posted December 24, 2013
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  • Ogun Assembly passes N210.2bn budget for 2014

    The Ogun House of Assembly on Monday passed the State’s 2014 Appropriation Bill of N210.2 billion. The bill was passed after the Chairman, House Committee on Finance and Appropriation, Mr Olusola Bankole, read the committee’s report. Bankole...

    • Posted December 24, 2013
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  • Investors trade 289.98 million shares on Monday

    Transactions on the floor of the Nigerian Stock Exchange, NSE, ended on Monday with investors trading 289.98 million shares valued at N2.14 billion in 3,952 deals. This was in contrast with the 698.89 million shares valued at...

    • Posted December 24, 2013
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  • NSE: Shareholders seek implementation of VAT, stamp duty cancellation

    Shareholders under the aegis of Association of Avid Shareholders, AAS, have called on the Federal Government to hasten the implementation of removal of Value Added Tax, VAT, and stamp duty from secondary market transactions, saying this   will...

    • Posted December 24, 2013
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  • FG, States, LGs share N6tr in 9 months

    The three tiers of government shared N6 trillion from January to September from the federation account, while the federal government overspent its budget by N740 billion within the same period. These were revealed in the Economic report...

    • Posted December 24, 2013
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  • Unity Bank plans to raise N38bn through special placement

    Shareholders of Unity Bank on Monday approved the bank’s plan to raise over N38 billion through special placements or rights issue. The shareholders gave the approval at the bank’s third Extra-General Ordinary Meeting (EGM) held in Lagos....

    • Posted December 24, 2013
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  • CAC converts financial reporting to IFRS

    The Corporate Affairs Commission (CAC), says it has successfully converted its financial reporting to International Financial Reporting Standards (IFRS). IFRS is a set of international accounting standards that define how different types of transactions and other accounting...

    • Posted December 24, 2013
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  • Inflation may rise as AMCON retires N2tn bond

    There are indications that the repayment of N2tn maturing bonds by the Asset Management Corporation of Nigeria as well as pre-2015 election spending, among others, will increase inflation rate early in 2014. AMCON had issued a three-year...

    • Posted December 24, 2013
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  • TCN announces collapse of Afam transmission lines

    The management of the Transmission Company of Nigeria (TCN) has said that one of its transmission towers, the Afam–Alaoji 132kV double circuit(DC) transmission line has collapsed. This is contained in a statement issued by TCN General Manager (Public...

    • Posted December 24, 2013
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  • PPPRA gives reason for high cost of kerosene

    The Executive Secretary, Petroleum Products Pricing Regulatory Agency, Mr. Reginald Stanley, has attributed the high cost of kerosene at the retail end to many factors. He said long chain of handling, smuggling (because of the huge arbitrage...

    • Posted December 24, 2013
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  • Navy destroys 1,556 illegal oil refineries, arrests 1,646 suspects in 2013

    The Chief of Naval Staff (CNS), Vice Adm. Dele Ezeoba, on said that the Nigerian Navy destroyed 1,556 illegal oil refineries and arrested 1,646 suspects in 2013. Ezeoba disclosed this at the launch of the Chief of...

    • Posted December 24, 2013
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  • Made-in-Nigeria vehicles to sell for N1.2m – FG

    The Federal Government, in a bid to ensure the successful implementation of its recently approved National Automotive Industry Development Plan, said it would encourage local auto manufacturers to produce less expensive models with price range of between...

    • Posted December 24, 2013
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  • SEC approves Oando N30.7bn special placement

    The Securities and Exchange Commission (SEC) has approved Oando’s N30.7 billion special placement fund raising exercise for the acquisition of ConocoPhillips’ Nigerian assets. This was contained in a statement issued by Oando in Lagos and obtained by...

    • Posted December 24, 2013
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  • Privatisation of refineries has not started – BPE

    The Bureau of Public Enterprises (BPE) on Monday in Abuja said that privatisation of the nation’s four refineries had not started. This is contained in a statement signed by the Bureau’s Head of Public Communications, Mr Chigbo...

    • Posted December 24, 2013
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