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  • NSE and Lotus Capital Launch Shariah-compliant Islamic Index

    Islamic wealth manager Lotus Capital and Nigeria’s bourse (NSE) on Monday launched a debut index of Nigerian Stock Exchange-listed companies that comply with centuries-old Islamic investment principles. The NSE Lotus Islamic index, which covers 15 equities with...

    • Posted July 31, 2012
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  • 18 out of 20 Pension Companies Clear PenCom Recapitalization Exercise

    According to a report released by the National Pension Commission on Monday, 18 companies have met the new recapitalization target of N 1 billion. The Pension companies were compelled to raise their capital base from N150 million...

    • Posted July 31, 2012
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  • Naira Declines as Oil Prices Fall

    The naira declined, paring its first monthly gain in three against the dollar, as Nigeria’s benchmark crude blend retreated. The currency of Africa’s biggest oil producer, which has risen 1.3 percent this month, slipped 0.2 percent to 160.925 per...

    • Posted July 31, 2012
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  • Nigeria Plans To Boost Food Supply By 20 Million Tons in 3 years

    Nigeria, which spends $10 billion a year importing wheat, sugar, rice and fish, plans to boost domestic food production by 20 million metric tons by 2015, according to the country’s agriculture ministry. Rice output will climb by 2 million...

    • Posted July 31, 2012
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  • EFCC Arraigns More Subsidy Scam Suspects

    The Economic and Financial Crimes Commission (EFCC) yesterday arraigned the trio of Oluwaseun Ogunbambo, Habila Theck and Fago Petroleum and Gas Limited, before Justice Adeniyi Onibanjo of the Lagos High Court in Ikeja. The defendants were arraigned on...

    • Posted July 31, 2012
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  • Nigerian Stock Exchange Watch: ASI (+0.04%) Up Marginally, YTD (+12.40%)

    The year-to-date return of the Nigerian Stock Exchange improved to 12.40%, even as the All share Index gained a marginal 4 basis points at the close of today’s trading. The Consumer Goods, and Oil & Gas sub-indices...

    • Posted July 30, 2012
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  • Apple vs. Samsung: Shaping the Mobile Battlefield

    On July 9, a British judge named Colin Birss ruled that Samsung’s tablet computers were unlikely to be confusedwith Apple’s iPad because they’re “not as cool.” In the often-bizarre world of intellectual property law, this was bad news...

    • Posted July 30, 2012
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  • Citizens on Social Media offer Kudos to Jonathan as Power Situation Improves

    Clusters of the suburbs in Lagos and other communities nationwide are noticing improved quantum of power supply from the national grid. Observers are happy that it seems there is something to finally be thankful to the Goodluck...

    • Posted July 30, 2012
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  • H1 2012 Earnings: FCMB Declares N7.8 billion Profit Before Tax

    First City Monument Bank PLC has announced its unaudited IFRS-compliant group results, which include the financials of its recently acquired entity, FinBank, a wholly owned subsidiary, for the six months ended 30 June 2012.   Key Highlights:...

    • Posted July 30, 2012
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  • Access Bank Eurobond Oversubscribed by $150 million

    Access Bank’s Eurobond offering of US$350,000,000 Senior Notes due 2017 – The Bank notified The Exchange that it has successfully concluded the Access Bank debut Eurobond issue which was launched last week after a roadshow in Europe...

    • Posted July 30, 2012
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  • Heirs Holdings announces new appointments

    Heirs Holdings, the pan-African proprietary investment company, has announced executive level appointments in three key subsidiaries, as well as the recruitment of a Group Chief Operating Officer. The positions, according to a statement from the company, underscore...

    • Posted July 30, 2012
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  • Q1 2012 Earnings: Union Bank posts N7.62b Net Income

    For the first quarter ended March 31, 2012, Union Bank of Nigeria Plc  (UBN) recorded N7.618 billion profit after tax compared with N4.51 billion in the same period in 2011. The report and accounts of the bank, presented...

    • Posted July 30, 2012
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  • Oil Rises For Fifth Day On Stimulus Outlook, Middle East Unrest

    Oil climbed to the highest level in a week in New York on speculation that U.S. and European policy makers will act to boost growth and concern that unrest in the Middle East may spread and disrupt supplies. Futures...

    • Posted July 30, 2012
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  • Fuel Scarcity Averted as Marketers Suspend Strike

    Oil marketers under the aegis of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) have called off their strike due to the steps taken by the Federal Government to settle their greivances. The marketers had embarked on...

    • Posted July 30, 2012
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