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  • Market Cap loses N57billion on Thursday

    The bearish trend at the stock market continued on Thursday with the market capitalisation of entities on the main board shedding N57 billion or 0.47 percent to close lower at N12.067 trillion when compared with Wednesday’s closing...

    • Posted November 14, 2013
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  • External reserves dip by 6.1% in Q3 – CBN

    In a report by the Central Bank of Nigeria (CBN), which highlights some major developments in the external sector of the Nigerian economy during quarter two (Q2) 2013, Nigeria’s external reserves declined by 6.1% with trade balance...

    • Posted November 14, 2013
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  • FirstRand eyes Keystone and Mainstreet banks

    South African financial services company, FirstRand Ltd., is ready to buy Keystone and Mainstreet Banks, two of the three Nigerian nationalised banks, as it seeks to establish a consumer-banking presence in Nigeria. Bank PHB, Afribank and Spring...

    • Posted November 14, 2013
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  • Pension fund not idle, 60% invested in bond – PenOp

    Against the prevailing notion that the new pension fund being regulated by the National Pension Commission, PenCom, is lying idle, the Pension Fund Operators of Nigeria, PenOp, has decried  that the fund is not in any way...

    • Posted November 14, 2013
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  • Drop in telecom firms’ revenues envisaged in 2013

    A sharp drop is expected in the revenue target of the telecommunications industry in 2013, an investigation has shown. This will be propelled by the earlier declaration of a state of emergency in Adamawa, Borno and Yobe...

    • Posted November 14, 2013
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  • Domestic transactions in equities rise to N775bn

    The total value of domestic transactions carried out by investors on the Nigerian Stock Exchange between January and September 30, 2013 stood at N775.77bn. The transactions for the first nine months of 2013 are already 52.53 per...

    • Posted November 14, 2013
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  • Nigeria food imports reducing ­— FG

    The quantity of food imported into Nigeria has continued to drop on a yearly basis, the Federal Government has said. It said efforts by indigenous farmers were yielding meaningful results as most foods consumed in the country...

    • Posted November 14, 2013
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  • NSE ASI dips by 0.9% on Wednesday

    The bullish trend at the stock market since the beginning of the week was halted at the end of transactions on Wednesday as the NSE All Share Index, ASI, dipped by 344.48 points or 0.9 percent to...

    • Posted November 13, 2013
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  • Reps pass N315bn budget for NDDC

    The House of Representatives on Wednesday in Abuja, passed the 2013 budget of N315 billion for the Niger Delta Development Commission (NDDC). The breakdown of the budget revealed that N15 billion was approved for personnel costs while...

    • Posted November 13, 2013
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  • Tin-Can Island Customs Port Command revenue dips to N22bn

    The Tin-Can Island Port (TCIP) Command of Nigeria Customs Service (NCS) says it’s revenue dipped to N22.3 billion in October from N23.3 billion recorded in September. The Area Comptroller, Mr Zakari Jibrin, disclosed this to the News...

    • Posted November 13, 2013
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  • Oando Energy Resources acquires ConocoPhillips

    Oando Energy Resources (OER), a subsidiary of Oando Plc, has acquired ConocoPhillips, a foreign oil company exploring and producing oil and gas in Nigeria. Oando made the disclosure in Lagos in a late night statement signed by...

    • Posted November 13, 2013
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  • N3.2trn entered Nigeria as Foreign Direct Investment since 2010 – Okonjo-Iweala

    The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday, revealed that over $20bn (N3.2tn) Foreign Direct Investment entered the Nigerian economy in the last three years. Okonjo-Iweala, who was addressing journalists...

    • Posted November 13, 2013
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  • First Bank acquires ICB’s assets in West Africa

    First Bank of Nigeria Holding (FBN) said its subsidiary, First Bank of Nigeria Limited (First Bank), has completed a deal to acquire a 100 per cent of the West African operations of Switzerland’s International Commercial Bank Financial...

    • Posted November 13, 2013
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  • FG targets N32bn from private jet owners

    The Federal Government will rake in about N32bn annually as luxury tax from owners and operators of private jets in Nigeria. This is if the attempts by the government through the Nigerian Civil Aviation Authority to impose...

    • Posted November 13, 2013
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