CATEGORY: COMPANIES

Alert: These 17 stocks have been suspended from trading on the NSE

Alert: These 17 stocks have been suspended from trading on the NSE

In a sign that the Nigerian Stock Exchange (NSE) is waking up from its slumber, it on Friday issued a notice suspending trading in...


All the major economic news from Nigeria in 5 minutes – 7/7/2017

All the major economic news from Nigeria in 5 minutes – 7/7/2017

Summary of the top business, economic and political news in Nigeria today.   The Minister of Budget and National Planning, Udoma Udo Udoma, has...


Nigeria Breweries is going local

Nigeria Breweries is going local

In a move to reduce it’s exposure to foreign exchange volatility, and encourage local producers, Nigerian Breweries is increasing it’s reliance on domestic sources...



All the major economic news from Nigeria in 5 minutes – 6/7/2017

All the major economic news from Nigeria in 5 minutes – 6/7/2017

Summary of the top business, economic and political news in Nigeria today.   Electricity supply, yesterday, dropped to 3,628 megawatts, mw from 3,808mw on...


NIPCO has extended its MTO deadline by one month

NIPCO has extended its MTO deadline by one month

The Nigerian Stock Exchange on Wednesday issued a corporate action confirming that New owners of Mobil Nigeria Plc, Nipco Ltd, has extended the deadline...


All the major economic news from Nigeria in 5 minutes – 5/7/2017

All the major economic news from Nigeria in 5 minutes – 5/7/2017

Summary of the top business, economic and political news in Nigeria today.   The Federal Government is hiring the United States technology giants such...


Etisalat: Investors are dumping ‘FUGAZ’ in droves

Etisalat: Investors are dumping ‘FUGAZ’ in droves

The recent takeover of the board of Etisalat Nigeria by the CBN and (possibly Aliko Dangote) has sent investors in a frenzy with banking...


All the major economic news from Nigeria in 5 minutes – 4/7/2017

All the major economic news from Nigeria in 5 minutes – 4/7/2017

Summary of the top business, economic and political news in Nigeria today.   Oil companies seeking to renew their oil licenses or leases would...


This why some people think Dangote is about to buy Etisalat

This why some people think Dangote is about to buy Etisalat

The latest board changes in Etisalat has sent some Nigerians wondering if this is step towards a takeover by Nigerian billionaire, Aliko Dangote. Etisalat...


What you need to know about the board members of Etisalat Nigeria

What you need to know about the board members of Etisalat Nigeria

The Central Bank of Nigeria has taken over the reigns at Etisalat with the appointment of Dr Joseph Nnanna as Chairman of the embattled...


Official: CBN takes over Etisalat

Official: CBN takes over Etisalat

Etisalat Nigeria Ltd has announced the resignation of its Chief Executive Officer (CEO) and Chief Financial Officer (CFO), CEO Mr Matthew Willshire and CFO...


Did MTN just drop hint of an impending IPO in Nigeria?

Did MTN just drop hint of an impending IPO in Nigeria?

MTN Nigeria’s planned listing on the Nigerian Stock Exchange (NSE)may open a new chapter in the Nigerian capital market. Nigeria and Africa’s largest GSM...


All the major economic news from Nigeria in 5 minutes – 3/7/2017

All the major economic news from Nigeria in 5 minutes – 3/7/2017

Summary of the top business, economic and political news in Nigeria today.   The Federal Inland Revenue Service has proposed a flexible tax payment...


Seplat’s credit facility extension explained

Seplat’s credit facility extension explained

Upstream oil company, Seplat today in a notice sent to the Nigerian Stock Exchange (NSE) announced the successful extension of its revolving credit facility....


Another Bailout? CBN/NCC said to take up board position in “New Etisalat”

Another Bailout? CBN/NCC said to take up board position in “New Etisalat”

In what appears to be yet another twist in the Etisalat Nigeria saga, the Federal Government through the Central Bank of Nigeria (CBN) and...


All the major economic news from Nigeria in 5 minutes – 30/6/2017

All the major economic news from Nigeria in 5 minutes – 30/6/2017

Summary of the top business, economic and political news in Nigeria today.   The European Union (EU) Ambassador to Nigeria and ECOWAS, Mr Michel...


Hakeem Belo Osagie resigns as chairman of Etisalat

Hakeem Belo Osagie resigns as chairman of Etisalat

The Chairman of Etisalat Nigeria, Mr. Hakeem Belo-Osagie, has resigned his appointment following the approval of a restructuring plan for the telecommunications firm. The...


PWC Nigeria just made these young guns partners

PWC Nigeria just made these young guns partners

PwC Nigeria has announced that it has admitted six professionals into the firm’s partnership, effective 1 July 2017. The new partners include Jide Adeola,...


Why Dangote Cement is considering shutting down its Ethiopian factory

Why Dangote Cement is considering shutting down its Ethiopian factory

One of Africa’s largest cement producers, Dangote Cement Plc may shut down its cement factory in Ethiopia if the company is unable to resolve...


Could these be why Chellarams is pivoting into milk production   

Could these be why Chellarams is pivoting into milk production   

In a notice sent to the Nigerian Stock Exchange (NSE) today, Chellarams Plc announced a delay in its annual financial statements due to ongoing...


All the major economic news from Nigeria in 5 minutes – 29/6/2017

All the major economic news from Nigeria in 5 minutes – 29/6/2017

Summary of the top business, economic and political news in Nigeria today.   Acting President, Prof. Yemi Osinbajo, on Thursday signed an Executive Order...


All the major economic news from Nigeria in 5 minutes – 28/6/2017

All the major economic news from Nigeria in 5 minutes – 28/6/2017

Summary of the top business, economic and political news in Nigeria today.   The African Development Bank (AfDB) has called on financial credit providers...


All the major economic news from Nigeria in 5 minutes – 27/6/2017

All the major economic news from Nigeria in 5 minutes – 27/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Federal Government is seeking a loan of $5bn from the...


All the major economic news from Nigeria in 5 minutes – 23/6/2017

All the major economic news from Nigeria in 5 minutes – 23/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Lagos State Government has promised to grant prospective investors complete...


All the major economic news in Nigeria in 5 minutes 22/6/2017

All the major economic news in Nigeria in 5 minutes 22/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Acting Chairman, Fiscal Responsibility Commission (FRC), Victor Muruako, has advised...


Etisalat claims it owes banks $575million not $1.2 billion

Etisalat claims it owes banks $575million not $1.2 billion

Etisalat Nigeria has revealed that the $1.2 billion widely reported as its indebtedness to about 13 Nigerian banks is not correct. According to the...


No ‘hostile takeover’!!! Regulators warns banks

No ‘hostile takeover’!!! Regulators warns banks

Better late than...


Travis Kalanick Fall, experts share lessons for Nigerian start-ups

Travis Kalanick Fall, experts share lessons for Nigerian start-ups

Travis Kalanick founder of ride sharing app Uber, yesterday resigned from his post as Chief Executive Officer (CEO) of the company after core investors...


All the major economic news from Nigeria in 5 minutes – 21/6/2017

All the major economic news from Nigeria in 5 minutes – 21/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Central Bank of Nigeria, CBN, yesterday, announced exposure draft framework ...


Akwa Ibom has taken Total Upstream to court over unpaid taxes

Akwa Ibom has taken Total Upstream to court over unpaid taxes

In yet another example of why Nigeria is a difficult place to do business, the Akwa Ibom state government through its Internal Revenue Service...