Latest News

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  Sanusi Says Nigeria Won’t Drain Reserves To Shield Naira

  Nigerian Central Bank Governor Lamido Sanusi made the following comments after a meeting of the bank’s monetary policy committee in Abuja today. On increasing the Cash Requirement Ratio: “On the CRR, the reason for increasing it was...

  • Posted July 24, 2012
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  Gun Sales Increase In Colorado After 12 Killed In Movie Theater

  Background checks for gun purchases spiked 43 percent in Colorado after 12 people were killed inside a suburban Denver movie theater, according to state data.  Gun dealers submitted 2,887 requests for state background checks required to sell a firearm...

  • Posted July 24, 2012
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  H1, 2012 Earnings: First Bank Reports 125% Growth in PBT at N 54 billion

  First Bank transmitted its first half, 2012 results to the Nigerian Stock Exchange today. The company announced a profit before tax of N 54.1 billion, representing the profit made in the first six months of the year...

  • Posted July 24, 2012
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  S&P’S Downgrading Of India: Warning To Market Economies

  The year 2012 is a very significant year and if there is any country that has the challenge of stabilizing its political economy for sustainability it is India; that indeed is a major surprise for analysts of...

  • Posted July 24, 2012
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  Bonga Oil Spill: Presidency Approves $ 5 Billion Fine Against Shell

  The Federal Government has approved a fine of $ 5 billion against Shell for its oil spillage in the Bonga area late last year. The $ 5 billion fine was recommended by National Oil Spill Detection and Remediation...

  • Posted July 24, 2012
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  Jonathan Talks Tough on Oil Thieves, Sets up another Committee

  The President had very strong words for oil thieves on Monday as he gave his address ‘Harnessing the Potential of Nigeria’s Maritime Sector for Sustainable Economic Development,” at the Presidential Maritime Security Retreat held at the Banquet Hall...

  • Posted July 24, 2012
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  CBN May Keep Benchmark Rate At Record High To Bolster Naira – Analysts

  The central bank will probably keep its benchmark interest rate unchanged at a record high for a fifth meeting to support the naira and curb inflationary pressures. The Monetary Policy Committee, led by Governor Lamido Sanusi, will hold the...

  • Posted July 24, 2012
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  Oil Advances From One-Week Low On China Manufacturing Data

  Oil rebounded from the lowest close in a week in New York after a Chinese manufacturing index signaled an economic slowdown may be easing in the world’s second-largest crude user. Futures increased as much as 0.7 percent after slipping...

  • Posted July 24, 2012
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  Fuel Marketers Threaten to Cripple Economy over Unpaid Subsidy Claims

  The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) has threatened to cripple the national economy by causing a scarcity of petroleum products if the Federal Government does not pay them their outstanding subsidy claims within 48...

  • Posted July 24, 2012
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  EFCC to Arraign Subsidy Thieves Today, Partners Interpol on Flight Risk suspects

  The Economic and Financial Crimes Commission (EFCC) is set to begin to arraign fuel subsidy thieves in Lagos today. In all directors representing seven companies including Eterna Oil and Nasaman Oil Services Plc will have charges filed...

  • Posted July 24, 2012
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  Call For Caution On West African Monetary Union (2)

  The situation in the Euro-zone and the current  ‘euro’ crisis has created a lot of concern for the Global economy and even the bailout funds pumped in by the European Central Bank for the major banks exposed...

  • Posted July 24, 2012
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  Nigerian Stock Exchange Watch: ASI (+1.24%) Gains as Dangote Cement (+5%), Bluechips Surge

  The Nigerian Stock Exchange gained a whopping 1.24%, its sixth highest daily appreciation on the back of a strong performance by the bourse’s most capitalized company, Dangote Cement, which gained maximum points allowed of 5%. Other bluechips that...

  • Posted July 23, 2012
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  Oando announces closing date for reverse take over of Exile Resources

  PRESS RELEASE OANDO PLC OANDO ANNOUNCES CLOSING DATE FOR REVERSE TAKE OVER OF EXILE RESOURCES   Oando Plc (‘Oando”) is pleased to update all stakeholders that a closing date of July 24, 2012 has been set for...

  • Posted July 23, 2012
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  Orange and Gameloft team up to launch new mobile games services in Africa and Middle East

  Orange, which is represented in 22 countries in Africa and Middle East, is teaming up with Gameloft, a leading global publisher of digital and social games, to make mobile games and offers available on smartphones and java...

  • Posted July 23, 2012
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