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  • Money laundering: CBN plans stiffer penalties for banks

    The Central Bank of Nigeria is planning stiffer penalties for banks involved in money laundering as part of efforts aimed at strengthening the fight against criminality. The Chief Compliance Officer, Access Bank Plc, Mr. Pattison Boleigha, who...

    • Posted November 26, 2013
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  • Banks extend loan repayment period for farmers

    The Federal Government and Deposit Money Banks have resolved to extend the loan repayment period for farmers from six months to one year. According to the government, the expansion is to ensure further increase in food production...

    • Posted November 26, 2013
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  • AMCON took banks’ earnings to where they are today – Chike-Obi

    As holders of the Asset Management Corporation of Nigeria (AMCON) bonds await payment from the corporation, the Managing Director/Chief Executive Officer Mr. Mustapha Chike-Obi told Kunle Aderinokun, Eromosele Abiodun and Obinna Chima the reasons it is refinancing...

    • Posted November 26, 2013
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  • Power generation drops by 450MW

    Electricity generation has dropped by 450 megawatts, the Transmission Company of Nigeria has said. The firm said the drop on Saturday was due to vandalism of pipelines supplying gas to the Okpai Power Plant in Delta State....

    • Posted November 26, 2013
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  • Sale of refineries may not be transparent – Experts

    There are fears in the Nigerian oil industry that the planned sale of the four government refineries, with a combined capacity of 445,000 barrels per day, may not be transparent. Sources in the industry, who spoke with...

    • Posted November 26, 2013
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  • Investors trade 542.25 million shares on Monday

    Transactions on the floor of the Nigerian Stock Exchange, NSE, ended on Monday with investors trading 545.25 million shares valued at N3.97 billion in 5,929 deals. This was in contrast to the 1.16 billion shares valued at...

    • Posted November 25, 2013
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  • EFCC re-arraigns fund manager over N390m fraud

    The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned a fund manager, Segun Bright, at an Ikeja High Court, charged with N390 million fraud. Bright, 36, is facing a 21-count charge, bothering on stealing before Justice...

    • Posted November 25, 2013
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  • Market Cap gains N436billion in five days

    Market rally deepened at the Nigerian Stock Market last week as the market capitalisation of entities on the main board appreciated by N436 billion or 3.60 percent within 5 days to close on Friday at N12.553 trillion...

    • Posted November 25, 2013
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  • South African firm invests $270m in Nigeria’s oil industry

    CAMAC Energy Incorporated has entered into a definitive agreement with the Public Investment Corporation Limited of South Africa for a $270m equity investment to boost its operation in the Nigerian oil and gas industry. The investment is...

    • Posted November 25, 2013
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  • Indigenous firms seek role in N457bn power investment

    Indigenous steel fabricating companies are seeking to play a major role in the N457bn power transmission infrastructure investment planned by the Federal Government. With huge transactions underway for the transformation of the Transmission Company of Nigeria, which...

    • Posted November 25, 2013
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  • Chevron trains 58 workers

    Fifty eight Nigerian professionals working under the Nigerian National Petroleum Corporation/ Chevron Joint Venture have undergone a special training session in the local content operation with the aim of boosting capacity in the oil and gas industry....

    • Posted November 25, 2013
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  • Investors shift attention from bank stocks in anticipation of low dividend

    Despite the effort of the Central Bank of Nigeria to downplay the impact of the regime of tight monetary policy on banks’ performance, feelers from the Nigerian stock market last week showed that the fear of a...

    • Posted November 25, 2013
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  • Election spending gives CBN course for concern

    The lobby by some members of the banking community for moderation in the monetary policy rates was high before last week’s Monetary Policy Committee meeting of the Central Bank of Nigeria. But at the end of the...

    • Posted November 25, 2013
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  • Analysts predict bumper returns for Conoil investors

    Investors in Conoil Plc are assured of bumper returns on their investments this year, going by projections by capital market analysts and experts of substantial growth in the company 2013 full year revenue and profits as well...

    • Posted November 25, 2013
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