Monday, May 28, 2018

QuickTakes

A cursory review of Nigerian businesses and the economy

IFC, Ecobank, BOI on the hook as Tantalizers stares at Liquidation

The trio of Ecobank International, Bank of Industry and IFC may have taken or have to take a provision on over N2 billion loans...

Nigerian Banks explain why they won’t take provisions on 9Mobile loans

Nigerian banks have confirmed that a deal is now in place to allow 9Mobile run smoothly pending an equity injection from a new investor(s). The...

Takeaways from Unilever Nigeria’s first conference call

Unilever Nigeria earlier today held its first ever conference call. Management discussed a range of issues pertaining to the company, the fast moving consumer...

Guinness just admitted stout market is dying

Guinness Nigeria Plc seems to have given up on the premium beer market as the company has signaled intentions to concentrate more on value...

This data confirms businesses are ‘smiling’ again

The Purchasing Managers’ Index rose to 56.8 points in July 2017 for the fourth consecutive month, albeit at a slower pace than the 57.0...

Foreign investors buy 2.3% of Dangote Cement in N86.1 billion deal

Reports from Reuters suggest foreign investors have bought a 2.3% stake in Dangote Cement for N86.1 billion. The transaction was confirmed by a spokesman...

These 8 Dangote Sugar staff have been accused of stealing N451 million

Billionaire Aliko Dangote may not be a very happy man at the moment as it appears workers in Dangote Sugar, one of his companies...

Nigerian Pension Fund Contributors in for a windfall as Pension Index Gains 54% in...

Data from the Nigerian Stock Exchange shows that Nigeria's pension index has recorded a gain of 54% between January 2017 and July 2017 alone. The...

Despite recession, cement companies report over N570 billion in revenue so far in 2017

Nigeria’s 3 major cement companies have made a total of N574.5 billion in revenues for the six months ended June 2017.  A N172.5 billion...

The key numbers behind FBNH 2017 Half year results

FBN Holdings Plc on Thursday announced its unaudited results for the six months ended 30 June 2017. Here are key highlights of the results Income Statement ...

Board Games: Unity Bank, Veritas musical chairs with UnityKapital Assurance

UnityKapital Assurance Plc in a notice sent to the Nigerian Stock Exchange (NSE) on Tuesday announced the divestment of Unity Bank’s holdings in the...

LSETF launches VC Structure to fund more startups

Lagos State employment trust fund, LSETF has announced plans to partner with high net-worth individuals on a funding initiative that could provide thousands of...

Forte Oil to eliminate “I better pass my neighbour” with new alternative energy product

In an exclusive tweet chat yesterday with Nairametrics, Mr Akin Akinfemiwa Group CEO of Forte Oil Plc discussed several issues relating to his company,...

FLASH: Nearly N1 billion worth of bitcoin was traded in Nigeria last week

In a sign of growing adoption of bitcoin and other cryptocurrencies, a report from Cointelegraph states that $3 million worth of bitcoin was traded...

LASG has issued demolition order for these estates

The Lagos State Government has ordered owners of buildings erected on drainage alignments and channels in several upscale areas to vacate their properties or...

Oando’s Share Price recovers after alleged SEC investigation

Shares of Oando Plc have fallen just 1.5% since news of an investigation by the Securities and Exchange Commission (SEC) broke two Fridays ago.   See...

CBN blows past N3 trillion in treasury bills sales, YTD July 2017 alone

Available data from the Central Bank of Nigeria shows the government via the CBN has sold about N3.1 trillion in treasury bills between January...

Four takeaways from Wema Bank’s H1 2017 Conference call

Tier two lender, Wema Bank yesterday held a conference call in respect of it's just released Q2 2017 results. A conference call is a...

Why Afriprudential Plc is a short term buy

Afriprudential Plc yesterday released its 2nd quarter 2017 results, and they are fantastic. Profit before tax increased from N605 million in 2016 to N950...

Reasons behind the Uber Germaine Auto partnership

Ride sharing app Uber has gone into partnership with Germaine Auto, a car sale and maintenance company. Under the partnership, Uber Nigeria drivers can...

These 2 insurance companies are running on empty

Management of Guinea Insurance Plc and African Alliance may presently be at their wit's end as both companies are operating below minimum statutory requirements....
Nigerians Celebrating

ICYMI: Nigerian Stock Exchange was the world’s most profitable in June

In what both the Central Bank of Nigeria (CBN) and the Federal Government may point to as a sign of its foreign exchange policies...

Strange: Capital Oil repays N2 billion, yet claims NNPC owes it

The management of Capital Oil lead by its MD Ifeanyi Ubah may have been economical with the truth when it accused the Nigerian National...

Nigeria May Agree to Cap Oil Production at 1.8 Million Barrel

In a bid to support OPEC’s effort towards moderating the oversupply of oil in the global oil market, Nigeria may have agreed to limit...

Why Diamond Bank is not issuing bonds

MD/CEO of Diamond bank, Uzoma Dozie says the bank will sell off assets that are of no benefit to its retail strategy. He made...

Looks like CBN dollar Intervention is yielding ‘positive results’

The series of recent interventions by the Central Bank of Nigeria appears to be yielding expected result as Nigerian Banks now see improved dollar...

Zenith Bank sells stake in Life Insurance firm to Prudential UK

In a press release to investors and the general public, UK based Prudential Plc has announced the acquisition of a significant stake in Zenith...

Senate, CBN and Banks Meet to discuss Interest rates

In a bid to address the high level of interest rates in the country, the Senate Committee on Banking, and Financial Institutions met with...

Dangote Cement to spend $4 billion expanding plant capacity across Africa  

Africa’s largest cement producer, Dangote  Cement looks set to consolidate its position as one of the top 3 cement producers on the continent, as...

Dangote Group to start milk production in 2019

As part of its expansion plans in the agricultural sector, the Dangote group is to spend $800 million on dairy-farming.  The company also plans...

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