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  • SEC orders market operators to maintain January to December fidelity bonds

    The Securities & Exchange Commission (SEC), on Wednesday directed all operators in the capital market to henceforth maintain a fidelity bond with a January to December validity every year. According to Wikipedia, “a fidelity bond is a...

    • Posted April 11, 2013
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  • MOSOP gives condition for oil exploration in Ogoniland

    MOVEMENT for the Survival of Ogoni People, MOSOP, has called for the creation of an Ogoni state as a condition for oil exploration to resume in Ogoni land. In a statement, yesterday, Chairman, MOSOP Coordinators Forum, Mr....

    • Posted April 11, 2013
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  • CBN to sell N310.94billion treasury bills Thursday

    The Central Bank of Nigeria (CBN) will sell treasury bills worth N310.94 million on Thursday, according to the Financial Market Dealers Association (FDMA) in Lagos. The association said in its daily report on Wednesday, in Lagos, that...

    • Posted April 11, 2013
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  • Nigeria to start exporting steel this month

    Nigeria’s first consignment of steel for export will commence this month as African Foundries Limited, a foreign company operating in Nigeria, will begin export of steel to Ghana. African Foundries Limited, which has a production capacity of...

    • Posted April 11, 2013
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  • FEC approves printing of voters cards at N2billion

    The Federal Executive Council (FEC) has approved the printing of 33.5 million additional voters cards for the Independent National Electoral Commission (INEC) at the cost of N2.117 billion for elections in the next ten years. Briefing state...

    • Posted April 10, 2013
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  • Nigerian Football League disowns Globacom as sponsor, as MTN makes move

    The chairman of the Nigeria Nationwide League has disowned telecommunication giant, Globacom, saying it is not the sponsor of the league. Globacom was recently announced by the Nigerian Football Federatio, NFF, as the official sponsor of Nigerian leagues; after...

    • Posted April 10, 2013
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  • NUPENG flays declaration of force majeure by oil firms

    NIGERIA Union of Petroleum and Natural Gas Workers, NUPENG, has said that the incessant force majeure being declared by major oil companies in the Niger Delta region was dangerous for Nigeria’s economic stability. NUPENG, in a statement...

    • Posted April 10, 2013
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  • Dangote Co-operative records 46% growth in savings, declares N18m as dividend

    Dangote Group Staff Multi-purpose Co-operative Society Limited (DANCOOPS) has recorded a 46.30 per cent increase in its total savings, rising from N490.4 million to N717.5 million for the 2011 financial year. In the period under review, the...

    • Posted April 10, 2013
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  • Custodian & Allied completes acquisition of Crusader

    Consequent upon the merger between Custodian & Allied Insurance Plc and Crusader Nigeria Plc, the board and management of both insurance companies, have announced that the emergent entity will henceforth be known as Custodian & Allied Plc. This...

    • Posted April 10, 2013
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  • Diamond Bank fails to offer dividend, despite N22.1b profit

    The board of Diamond Bank Plc, on Tuesday presented its 2012 audited results showing that earnings rose 34.8 per cent to N112.35 billion from N83.36 billion, while profit stood at N27.48 billion from a loss of N17.964 billion...

    • Posted April 10, 2013
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  • CBN sells foreign exchange worth 300m dollars at WDAS

    The Central Bank of Nigeria (CBN) said on Monday that it sold foreign exchange worth 300 million dollars in the 26th Wholesale Dutch Auction System (WDAS). The figure represents an increase of 62.88 million dollars over the...

    • Posted April 10, 2013
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  • African Develoopment Bank approves N47billion for infrastructure in Nigeria

    The African Development Bank (AfDB) has approved N47 billion ($300 million) budget support loan for improving transport network, infrastructure, agriculture and power in Nigeria. The Resident Representative of the bank, Mr Ousmane Dore, announced the approval to...

    • Posted April 10, 2013
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  • Bank Executives make moves to salvage SMEs

    The Bankers Committee, comprising of the Chief Executive of Banks, has in their plan to salvage the small and medium enterprises promise to drastically reduce the interest rate  to encourage popular participation in  the real sector. The...

    • Posted April 10, 2013
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  • NSE indices drop by 2.07% due to profit taking

    The market indicators of the Nigerian Stock Exchange (NSE) on Tuesday bowed to profit taking as the market indicators fell by 2.07 per cent due to huge price losses by some highly capitalised stocks. The News Agency...

    • Posted April 10, 2013
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