Latest News

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  Nigeria to issue N210b, N290b bonds in Q2

  Nigeria plans to raise between N210 billion andN 290 billion ($1.33 billion – $1.84 billion) in sovereign bonds ranging between three and 10 years in the second quarter of the year, the Debt Management Office (DMO) said....

  • Posted April 19, 2012
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  Kunle Allen Appointed CEO of Nigeria Gas Company as FG Moves to Boost Supply

  The Minister of Petroleum Resources, Diezani Allison Madueke has disclosed the steps her ministry is taking in order to bridge the gas supply gap in the country. She disclosed that government is strengthening the Gas Aggregation Company...

  • Posted April 19, 2012
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  Royal Dutch Shell Evaluating $4 Billion Investments in Niger Delta

  Peter Voser, the CEO of Royal Dutch Shell has disclosed that the company is evaluating projects worth over $ 4 billion in Nigeria. According to a statement released on the company’s website the investments are subject to...

  • Posted April 19, 2012
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  First Bank Appoints Goldman Sachs, Citi, to Manage New $ 500 Million Eurobond Sale

  First bank of Nigeria has disclosed that it will be floating a $ 500 million Eurobond sometime later this year. The bank’s Chief Financial Officer, Bayo Adelabu, said that the Eurobond will be floated in order to...

  • Posted April 19, 2012
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  Subsidy Report: Details on How NNPC and PPPRA Mismanaged TRILLIONS of Naira

  The Honourable Farouk Lawan led ad-hoc Committee on Fuel Subsidy Investigation submitted its report to the House yesterday and its revelations highlight the vast depth and breadth of corruption in Nigeria, especially in the oil sector. The...

  • Posted April 19, 2012
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  NSE to Sanction Oando, Dangote Flour, Eterna and 43 Other Companies

  The Nigerian Stock Exchange (NSE) is to sanction several companies for violating its post listing requirements. In a report released by the bourse it marked 46 companies as BLS or falling below listing standards and 30 as ‘ARA’,...

  • Posted April 19, 2012
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  Unilever’s Q1 2012 Earnings Up 8%

  Unilever, one of Nigeria’s leading conglomerates and manufacturer’s of Fast Moving Consumer Goods (FMCG) has released its Q1, 2012 Earnings. The company recorded a 7.92% increase in Earnings at N 14 billion at the end of March...

  • Posted April 18, 2012
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  ‘Poor sanitation costs Nigeria N455b yearly’ – World Bank

  Nigeria loses N455 billion (US$3 billion or three per cent of her Gross Domestic Product) yearly to poor sanitation, according to a report released yesterday by the World Bank’s Water and Sanitation Programme (WSP). The desk study, Economic...

  • Posted April 18, 2012
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  First Bank Dispensed N 800 Billion from its ATMs in 2011

  Blazing the trail in the cashless economy, First Bank has released information which states it dispensed N 800 billion from its ATMs in 2011. The bank also grew the number of its electronic cards from 1.5 million...

  • Posted April 18, 2012
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  Petroleum Marketers Fault House Committee’s Report, Refuse to Pay back Subsidy

  Petroleum marketers named in the Farouk Lawan led Committee on Fuel Subsidy report are up in arms and united in their indignation against the committee’s report which was leaked in the print and electronic media yesterday. The...

  • Posted April 18, 2012
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  Capital Market Hearing: Committee Invites Cecilia Ibru, Soludo, Akingbola, Others

  The House of Representatives Adhoc Committee Investigating the Near Collapse of the Capital Markets has summoned the former Central Bank Governor, Professor Charles Soludo, former Director-General of the Nigerian Stock Exchange, Prof. Ndi Okereke-Onyuike and former bank...

  • Posted April 18, 2012
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  Nigerian Stock Exchange Watch: Market Rallies as Bluechips Post Strong 2011 Earnings

  The All Share Index gained 32 basis points on the back of investor demand in a strong 2011 earnings  reporting season. The market closed at 20,788.83 as companies like First Bank (+4.97%) and Nigerian Breweries (+2.28%) recently...

  • Posted April 17, 2012
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  First Bank Wows with 2011 Earnings, Net Income N 44 billion, Proposes 80 kobo Dividend

  First Bank released its 2011 audited financial statements today. Key Highlights for the full year  27.6% growth in gross earnings to N296.3 billion (2010: N232.1 billion)  45.6% growth in operating income to N259.2 billion in...

  • Posted April 17, 2012
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  Skye Bank 2011 Earnings: Facts Behind the Figures

  The following is a press release form Skye Bank Investor Relations Unit on their 2011 Earnings which we published yesterday. LAGOS, NIGERIA- Monday 16, APRIL 2012- SKYE BANK PLC (SKYEBANK on NSE and SKYE on Reuters) operates...

  • Posted April 17, 2012
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