Latest News

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  Nigerian Stock Exchange Watch: Investors Wage N 4.4 Billion on Equities, UBA continues to Surge

  The stock market began the week on a positive note as the All Share Index inched up by 0.13% today to close at 20,619.05. The banking sub-sector was predominantly bullish as UBA continued to improve on its...

  • Posted March 5, 2012
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  Scorto Opens New Office in Nairobi, Kenya

  Scorto Corporation, a globally recognized provider of decision management and risk mitigation solutions and services, has started operations of a new, regional headquarters in Nairobi, Kenya.   Having served lending and credit based organizations since 2005, the...

  • Posted March 5, 2012
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  Fuel Scarcity: Ondo residence groans, long queues back in Lagos, Oyo, Osun, Kwara petrol stations

  Panic gripped residence of Ondo State as some Oil Marketers have increased their fuel prices following fuel scarcity that loomed in the state. Apart from Akure, the state capital some Oil marketers in communities like, Owo, Ikare...

  • Posted March 5, 2012
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  Lagos Tank Farms Time Bombs waiting to Explode – Experts

  According to Industry Stakeholders including Residents’ Associations, Oil and Gas Workers and Customs Officials, the location of tank farms in Apapa and Kirikiri are a time bomb waiting to explode. Even overlooking the billions of naira in...

  • Posted March 5, 2012
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  Jonathan to reshuffle Cabinet, says Punch

  There  were  indications on Sunday that President Goodluck Jonathan might carry out a cabinet reshuffle later this month. A senior government official who spoke to our correspondent on the condition of anonymity said those affected were to...

  • Posted March 5, 2012
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  Zenith Bank Bags Best Bank in Nigeria Award on Corporate Governance

  Zenith Bank of Nigeria Plc has been awarded the ‘Best Bank in Nigeria’ owing to it high standards of corporate governance. The award was bestowed upon Nigeria’s leading financial institution by the World Finance magazine, in recognition...

  • Posted March 5, 2012
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  CBN to probe Forex Deals in April

  The Central Bank of Nigeria (CBN) will next month probe  banks’ foreign exchange transactions. Known in banking parlance as special or target examination, the investigation is to ensure that banks’ foreign exchange deals are in line with...

  • Posted March 5, 2012
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  Schneider Electric Awarded N 6 Billion Contract to Improve Electricity in Rivers State

  The Rivers State Government has entered into an agreement with Schneider Electric to boost electricity supply in the oil-rich state. Schneider is a global specialist in energy management and under the terms of this contract with a...

  • Posted March 5, 2012
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  Federal Government will hold an oil licensing bid round this year – DPR

  After nearly five years of expectations, the Federal Government will finally hold an oil licensing bid round this year, Director of Department of Petroleum Resources (DPR), Mr. Osten Olorunsola, has given a firm assurance. This will also...

  • Posted March 5, 2012
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  Qatar, Luxembourg, Singapore Lead Forbes Richest Countries List

  If wealth is power, then Qataris have some serious muscle to flex. The Persian Gulf emirate of 1.7 million people ranks as the world’s richest country per capita thanks to a rebound in oil prices and its...

  • Posted March 3, 2012
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  Nigerian Stock Exchange Watch: Market Records Highest Daily Performance of 2012 on Friday

  Investors had enough reason to TGIF yesterday as, the Nigerian Stock Exchange, recorded a bullish performance and the highest daily return of the year. The All Share Index surged by 1.97% to close at 20,592.02. Dangote Cement,...

  • Posted March 3, 2012
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  Nigeria’s Naira Moves Between Gains and Losses Against Dollar

  The naira moved between gains and losses against the dollar on the interbank market. The currency of Africa’s biggest oil producer weakened less than 0.1 percent to 157.665 per dollar as of 1:20 p.m., according to data compiled by...

  • Posted March 2, 2012
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  Shell Nigeria explains lack of interest in refinery: It’s not a viable business

  Shell Petroleum Development Company on Thursday said refinery business is a no go area for it in the country after about 70 years in operation, because it “is not a viable business.” According to Mr. Malcolm Brinded,...

  • Posted March 2, 2012
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  Nigeria Spends N400 billion per Annum on Importation of New, Used Vehicles

  The Director General of the National Automotive Council has disclosed that Nigerians spend a whopping N400 billion on importing 280,000 vehicles yearly. A further analysis shows the majority of the vehicles numbering 200,000 are used whilst the...

  • Posted March 2, 2012
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