Don't Miss


Latest News

  • Nigeria, Kenya top Foreign Investors Preferred Investment Destinantions

    According to a report based on a poll conducted by the Economist Intelligence Unit (EIU), more than 50% of foreign investors including hedge funds, pension funds and private banks see Africa as the most attractive investment destination...

    • Posted January 25, 2012
    • 1
  • Power Ministry Plans additional 6,000 Mega Watts from New and Existing IPPs

    According to the minister of Power, Barth Nnaji, Nigeria is set to see a boost in electricity generation, about 3,300 Mega Watts, from new Independent Power Projects (IPPs) within the next two years. Te minister also disclosed...

    • Posted January 25, 2012
    • 2
  • Union Bank gets SEC Nod to Extend Rights Issue until February 10

    Following its securing of approval from the Security and Exchange Commission (SEC), Union Bank has extended its right application to February 10th 2012. The Rights Issue was slated to terminate on January 20th, however the bank was...

    • Posted January 25, 2012
    • 0
  • Apple Releases Q1 Earnings, Sells 37 million iPhones, 15 million iPads

    Apple Inc, the company with the largest cash reserves in the world, topping $100 billion has done it again. The company released its Q1, 2012 earnings yesterday, beating analysts’ forecasts by a long shot as it recorded...

    • Posted January 25, 2012
    • 0
  • Nigeria Stock Exchange Watch: Market Fails to Find Swagger in 2012

    The Nigerian Stock Exchange is proving old habits die hard. The market closed the session yesterday down by 0.41%. The All Share Index settled at 20,598.67, bringing the weekly performance to -2.25% and the year-to-date performance to...

    • Posted January 25, 2012
    • 0
  • EFCC Storms Kaduna Refinery

    Operatives of the Economic and Financial Crimes Commission (EFCC) are now in Kaduna to investigate the activities of the Kaduna Refining and Petrochemical Company (KRPC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC). The probe follows...

    • Posted January 24, 2012
    • 3
  • NSE Lobbies AMCON, FG on Margin Loans Debt Relief for Brokers

    At a recent conference on the 2011 Market Review and 2012 Outlook of the Nigerian Capital Markets, the CEO of the Nigerian Stock Exchange, Oscar Onyeama disclosed that the Exchange was seeking relief for stock brokers who...

    • Posted January 24, 2012
    • 0
  • Zenith Bank Reschedules Board Meeting to Deliberate on Financials and Dividends

    Zenith Bank has notified The Exchange that its Board of Directors meeting which was earlier scheduled to hold on Friday 27, 2012, has been rescheduled to hold on Monday, January 30, 2012 at 10. 00 a.m. prompt....

    • Posted January 24, 2012
    • 0
  • January 30th Deadline for EOI on Power Generation Firms Approaches

    The deadline for investors to show expression of interest (EOI) in acquiring Power Generation Companies  is January 30th. According to the Bureau of Public Enterprises, the generation companies up for sale or concession are Afam Generation Company,...

    • Posted January 24, 2012
    • 0
  • N 89.7 Billion bonds up for Auction Wednesday

    The Debt Management Office (DMO) stated yesterday that the Federal Government will auction N 89.7 billion worth of  bonds on Wednesday. The 10 year sovereign bonds consist of re-issues and fresh issues. The fresh issues are due...

    • Posted January 24, 2012
    • 0
  • Capital Expenditure gets a Measly 14% of 2012 Education Budget

    The Senate Committee on Education has queried the large percentage of the Ministry of Education’s budget that is voted for recurrent expenditure to the detriment of capital expenditure for infrastructure in the sector. The Education minister, Prof....

    • Posted January 24, 2012
    • 0
  • World Bank loans $400 million for Urban Water Reform Projects

    The World Bank has disbursed $ 400 million to  Lagos, Kaduna, Ogun, Enugu and Cross Rivers. The funding is meant for the development and rehabilitation of urban water facilities and to increase access to piped water under...

    • Posted January 24, 2012
    • 0
  • Fuel Distribution Nationwide to be Aided by Railways

    Fuel availability nationwide is set to improve considerably as a new distribution and logistics system in the form of Rail cargo is employed by the Nigerian Railway Corporation (NRC). The NRC will today take delivery of twenty...

    • Posted January 24, 2012
    • 1
  • Nigerian Stock Exchange: ASI Resumes Freefall

    The Nigerian Stock Exchange has continued its descent into negative territory, shedding 66 basis points at the end of the session. The All Share Index retreated further to close at 20,683.46, bringing the year-to-date performance to -0.23%....

    • Posted January 23, 2012
    • 0