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  • Access Bank plans $350 mln Eurobond

    Access Bank plans to issue a $350 million five-year Eurobond with pricing in the 7 percent range, a banking source with knowledge of the deal told Reuters on Wednesday. The bank is likely to benefit from strong...

    • Posted July 19, 2012
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  • Manchester United set to kick off $300 Million Initial Public Offering (IPO)

    Football powerhouse Manchester United is expected to launch its IPO in New York as early as next week, for pricing in early August, after earlier attempts in Hong Kong, Singapore and the UK. The time table marks a...

    • Posted July 19, 2012
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  • Power Generation Firms: Otedola, Julius Berger Others Submit Bids as Dangote Misses Deadline

    Sources in the Bureau of Public Enterprises (BPE) handling the Power Privatization Exercise have said 25 investors have shown interest in the six power generation companies up for grabs. Consortium’s who successfully submitted their bids include Femi...

    • Posted July 19, 2012
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  • Could Soaring Bread Prices Cause Political Instability

    The price of bread is responding to the increases in the duties and levies placed on Wheat commodity and show no signs of slowing anytime soon. A loaf of bread that used to sell for N 100...

    • Posted July 19, 2012
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  • Diamond Bank revised 2012 ROE target to 15 percent

    Diamond Bank has raised its return on equity (ROE) target for 2012 to 15 percent from 10 percent, the lender said on Wednesday. The mid-tier lender last week announced a fourfold increase in half-year pretax profit to...

    • Posted July 19, 2012
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  • Sanusi Calls for Bank of Infrastructure

    The Governor of the Central Bank of Nigeria, Lamido Sanusi, has called for the establishment of an Infrastructure bank for the financing of infrastructure projects across the country. He made the call whilst addressing the Third Infrastructure Concession...

    • Posted July 19, 2012
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  • FG Awards $1.5 billion Lagos Ibadan Rail Contract to Chinese Company

    The Federal Government through its Federal Executive Council has awarded a contract worth $1.48 billion to China Civil Engineering Construction Company (Nig) Limited. The contract is for the construction of a standard gauge rail to link the two...

    • Posted July 19, 2012
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  • Naira Depreciates as Inflation Rises

    Nigeria’s naira depreciated the most in almost a month after inflation accelerated. The currency of Africa’s biggest oil producer retreated as much as 1.4 percent, the biggest intraday decline since June 22, to 162.500 per dollar and traded...

    • Posted July 18, 2012
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  • UBA Nigeria Seeks Local License In Zambia To Meet Country’s Recapitalization Rules

    United Bank for Africa Plc, Nigeria’s fourth-biggest lender by market value, will seek a local banking license in Zambia to meet the country’s new capital requirements, Managing Director Phillips Oduoza said. “We intend to convert our license from...

    • Posted July 18, 2012
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  • Mayer Becomes Highest-Profile Pregnant Woman Hired As CEO

    Yahoo! Inc. Chief Executive Officer Marissa Mayer is breaking new ground for Fortune 500 companies by starting her job more than six months pregnant, a trend already embraced by young women running Silicon Valley startups. Mayer, an engineer and former Google...

    • Posted July 18, 2012
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  • Oil Drops From Seven-Week High On Outlook For Economy

    Oil fell from a seven-week high in New York on concern fuel demand may falter after Chinasignaled more economic weakness and analysts cut their profit forecasts for European companies at the fastest rate since 2009. Futures slid as much as...

    • Posted July 18, 2012
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  • FG to Ban Foreign Goods that have Local Substitutes

    The Federal Government has made clear in no uncertain terms it impending policy reform that will see ban on imports of goods that have foreign substitutes. The Minister of Trade and Investment, Olusegun Aganga, made this known...

    • Posted July 18, 2012
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  • Tejuosho Market: Court to rule on First Bank and Access Bank Dispute in October

    Justice Okechukwu Okeke of a Federal High Court, Lagos will on October 11 decide whether to vacate an ex-parte order, issued on March 13, 2012, appointing First Bank Plc as receiver/manager of the new Tejuosho market complex....

    • Posted July 18, 2012
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  • Solid Minerals Stakeholders Seek FG Intervention on diversion of N700 billion Funds

    Stakeholders in the solid minerals sector under the aegis of Miners Association of Nigeria have called upon the Goodluck Jonathan administration to intervene over the diversion of N 700 billion in funding meant for the sector. According...

    • Posted July 18, 2012
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