Stanbic IBTC Holdings Plc has announced a gross earnings of N58.7 billion for the first quarter ended March 31, 2.3 percent increase compared to N57.4 billion it achieved in the same period of 2018. The group’s financial report released on the Nigerian Stock Exchange(NSE), Lagos, showed that it achieved profit before tax of N23.5 billion … Read more
The Nigerian National Petroleum Corporation, NNPC, has recently announced that it has recorded trade surplus of N15.04 billion for January 2019, an increase of 24 per cent over the N12.13 billion surplus posted by the corporation in December 2019. In a statement by its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, the … Read more
Guinness Nigeria Plc, a leading beverage and alcohol Company in Nigeria and a subsidiary of Diageo Plc, has announced its unaudited results for its Quarter 3 period that ended 31st March, 2019. The results which were released to the Nigerian Stock Exchange (NSE) showed that revenue for the period declined by 4% compared to same … Read more
MTN Group has appointed South Africa’s former Deputy Finance Minister Mcebisi Jonas as chairman-designate in a board shake-up, the telecommunications provider said on Friday. Mr Jonas will assume the position of chairman of MTN Group on December 15 once Chairman Phuthuma Nhleko steps down, MTN said in a statement.
The retail secondary market intervention sales (SMIS) of the Foreign Exchange market on Friday received $271.83 million and CNY41.14 million from the Central Bank of Nigeria (CBN) as part of the continuous intervention effort to stabilize the market. CBN spokesperson, Isaac Okorafor, said about CNY41.14 million was allocated for the payment of Renminbi-denominated Letters of … Read more
Nigeria Pan-African integrated digital payments and commerce company, Interswitch Group, has signed a multi-billion Naira deal with Bekoz UK Ltd, a British transport ticketing company to strengthen transportation ticketing in Nigeria. The deal, which worth £56 million, will leverage British technology to keep Nigeria’s commuters on the move through the launch of three products developed … Read more
The National Bureau of Statistics (NBS) said the Internally Generated Revenue (IGR) of 36 states and the Federal Capital Territory (FCT) for fourth quarter of 2018 was N324.59 billion compared to N264.34 billion recorded in third quarter of the same year. NBS disclosed this in IGR at State Level for Fourth Quarter and Full Year … Read more
The Nigerian Stock Exchange (NSE) market indicators opened trading for the month of May with a marginal growth of 0.04 per cent. The News Agency of Nigeria (NAN) reports on Thursday that the All-Share Index which opened at 29,159.74 rose by 11.99 points or 0.04 per cent to close at 29,171.73. Also, the market capitalisation … Read more
The Nigerian National Petroleum Corporation (NNPC) on Thursday opened 2019 Direct Sale of Crude Oil and Direct Purchase (DSDP) to its local and international business partners, and potential off-takers and suppliers with 132 organisations indicating interest. The Group Managing Director of NNPC, Maikanti Baru, who set the process in motion said the essence of the … Read more
The All-Share Index of the Nigerian Stock Exchange (NSE) has maintained positive growth for the second consecutive day, growing by 0.14 per cent. Nigerian Stock Exchange NSE Reports have it that the index which opened at 29,171.73 chalked up 40.27 points or 0.04 per cent to close at 29,212,00 due to price appreciation. … Read more
Former Central Bank governor and current Emir of Kano, Muhammadu Sanusi, has been named by the Giant telecommunication company, MTN, as a Non-Executive Director. The appointment of Sanusi comes as Nigeria’s telecoms giant MTN prepares to list its local unit on the Nigerian stock exchange, a condition of the settlement of a $1 bn regulatory … Read more
Following bargain hunting in some high cap stocks, especially Transcorp, and Japaul Oil, trading on the floor of the Nigerian Stock Exchange (NSE), helped reverse three sessions of negative performance, as market capitalisation appreciated marginally by N4 billion. Yesterday, the NSE All-Share Index (ASI) gained 11.99 absolute points, representing a growth of 0.04 per cent … Read more
Nigeria and the United Kingdom have agreed to fast-track key regulation to deepen the insurance market, expand the digital economy, and explore Naira-denominated financial instruments in collaboration with the City of London. Both countries are also to endeavour to accelerate progress on franchise regulation to facilitate British brands positioning and investments that deliver sustainable new … Read more
The Federal Airports Authority of Nigeria (FAAN), has withdrawn services from the duo of Gombe and Kebbi airports over alleged N811 million debt. FAAN, in line with its earlier threat and expiration of another seven days ultimatum, withdrew aviation security and fire-fighters from the two airports. The services in question, according to experts, are safety … Read more
With Brent Crude oil price dropping to $70, yesterday, there are concerns by oil producing countries on measures to hedge potential energy crisis that may arise with sanctions imposed on Iran by the United States. U.S. President, Donald Trump sanction has effectively blocked over 1.9 million barrels daily (mbd) output more than the 1.2mbd the … Read more
The Federal Government has disclosed that about 43 refineries, including large scale and modular refineries have been licensed to refine petroleum products across the country. The Senior Technical Adviser to Nigeria’s Petroleum Minister on Refineries and Downstream Infrastructure, Rabiu Suleiman, told The Guardian in an exclusive interview that two of the refineries (modular) would be inaugurated in the … Read more
The capital market has continued to record high incidence of unclaimed dividends due to the provision of inadequate proof of ownership of shares by investors, the acting Director General of the Securities and Exchange Commission (SEC), Mary Uduk, has said. Ms Uduk, who spoke in Ibadan at a one-day seminar on reducing incidence of unclaimed … Read more
The Total Group has restated its commitment to the long term development of Nigeria’s oil and gas industry and the improvement of the lives of Nigerians through the provision of clean, affordable energy. Total’s Chairman and CEO, Patrick Pouyanne made the disclosure at a courtesy visit to Nigeria’s Vice President, Yemi Osinbajo, on Tuesday April … Read more
Cross River State Government is blazing the trail with a Slovak firm, Sirieco Company Limited, to establish an electric car assembling plant in the state. The Chief Executive Officer (CEO), Sirieco Company, Mr. Groidis Peter, disclosed this Tuesday when he led his team on an inspection tour of the Ayade Industrial Park, in Calabar, adding … Read more
Premier information management institute in Africa, the Institute of Information Management (IIM) has indicated its readiness to assist regulatory agencies to identify information gaps, information management needs, and develop the required framework for effective data/information governance. The Institute is also poised to assist the regulatory bodies on setting the parameters for data/information management and usage, … Read more