Latest News

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  Nigerian Stock Exchange Watch: Market Bubbles Back Up as Blue Chips Gain Big

  The stock market bubbled back up in today’s trading, gaining 38 points as the All Share Index closed at 22656.76. Market performance was driven by upticks in bluechips such as Dangote Cement, Zenith Bank, Mobil and Nigerian...

  • Posted May 8, 2012
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  Total Q1, 2012 Earnings Hit N 50 billion, Up 25% YoY

  Total Nigeria Plc, a downstream Oil & Gas company operating in Nigeria has released its Q1, 2012 earnings. The company reported a growth of 25% in Sales at N51 billion, up from N 40.8 billion over the...

  • Posted May 8, 2012
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  Oteh Reveals How Okereke-Onyuike Spent N 186 Million on Rolex Watches, N 37 Million on Yacht, Others

  The DG of the Securities and Exchange Commission (SEC) testifying before the House Committee probing the crash of the stock market has made some startling allegations against the past leadership of the Nigerian Stock Exchange in the...

  • Posted May 8, 2012
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  Brazil’s BTG launches $1bn Africa PE Fund

  Brazil-based BTG Pactual bank has launched a $1billion Africa-focused private equity fund, according to the bank’s chief executive Andre Esteves . The fund is touted to be the largest private equity vehicle exclusively targeting Africa, and is also set...

  • Posted May 8, 2012
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  Governors Betrayed Me During Fuel Subsidy Removal – President Jonathan

  President Jonathan has alleged that some of the governors backed out on him during the fuel subsidy removal episode in January. This was in spite of all the governors being in agreement on the removal of fuel...

  • Posted May 8, 2012
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  International Crime Syndicate Behind Niger Delta Crude Oil Theft– Shell

  The Managing Director of Shell Production and Development Company, Mutitu Sunmonu, has blamed the incessant theft of crude oil from the Niger Delta on a well organized international crime syndicate. In a report title “Shell Briefing Notes”...

  • Posted May 8, 2012
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  Nigerian Stock Exchange Watch: Bourse Down Marginally, Still on 38 Week High

  The activity of profit takers conspired to push the bourse into negative territory at the close of trading today. Blue chip and highly capitalized stocks such as Nigerian Breweries (-2.37%), Zenith (-4.06%) and GTbank (-2%) came under...

  • Posted May 7, 2012
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  SEC DG: Much ado about eligibility!

  As I listened to Mr. Sunny Nwosu, the leader of the Independent Shareholders Association (ISA) while he delivered his submission to the Ad Hoc Committee on the Nigerian Capital Market, I shuddered in utter disappointment and disbelief...

  • Posted May 7, 2012
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  Mill Wright: Auto Exports From USA to Nigeria

  Mill Wright LLC is a multi-national shipping company focused on car imports to the sub-Saharan African region with special emphasis on Nigeria. The company offers several options for car dealers, importers or users to ship their vehicles...

  • Posted May 7, 2012
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  Politics And The State

  The French Presidential Elections  turned  out to be an interesting one on May 6 as   Incumbent President Nicholas Sarkozy  suffered defeat to Socialist Party Candidate Francois Hollande after the second round becoming  the First incumbent French...

  • Posted May 7, 2012
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  Tiger Brands plans to buy stake in Dangote Flour

  May 4 (Bloomberg) — Dangote Flour Mills Plc rose to the highest in more than a month on speculation South Africa’s Tiger Brands Ltd. plans to buy stake in the Nigerian producer. The stock jumped 4.9 percent to...

  • Posted May 7, 2012
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  AMCON May Take Keystone, Enterprise and Mainstreet banks Public

  The Managing Director of  the Asset Management Corporation of Nigeria (AMCON), Mustapha Chike-Obi, has disclosed that Keystone, Enterprise and Mainstreet banks may be re-listed (as it were) on the Nigerian Stock Exchange. The former Bank PHB, Spring...

  • Posted May 7, 2012
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  Swiss Oil Company, NIMEX, Sanctioned by PPPRA

  The Petroleum Products Pricing Regulatory Agency (PPPRA) has penalized a Swiss Oil trading firm for violating its policies regarding the supply of Petrol to Nigerian marketers. NIMEX Petroleum Limited was penalized for failing to provide documentation relating...

  • Posted May 7, 2012
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  MTN Subscribers, Boosted by Nigeria, SA & Iran Top 170 Million

  MTN Group, Africa’s largest mobile operator, reported on Friday a 4 percent rise in subscribers for the first quarter, helped by increases in its key markets of South Africa, Nigeria and Iran. MTN, which is currently the...

  • Posted May 7, 2012
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