CATEGORY: COMPANIES

All the major economic news from Nigeria in 5 minutes 20/7/2017

All the major economic news from Nigeria in 5 minutes 20/7/2017

Summary of the top business, economic and political news in Nigeria today. Worried about the grave economic implication of Nigeria’s suspension from the EGMONT...


Nigerian Company reports 99% drop in Cocoa butter exports

Nigerian Company reports 99% drop in Cocoa butter exports

Nigeria’s sole cocoa export company trading on the floor of the Nigerian Stock Exchange reported a 99% drop in export sales for the period...


For how long does the new 9Mobile plan to stay?

For how long does the new 9Mobile plan to stay?

With the rebranding of the Etisalat Nigeria brand into 9Mobile Telecoms, it seems that the company was eventually shedding off the debt-plagued skin it...



Why Afriprudential Plc is a short term buy

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...


Innoson moves into the big league with export of cars to Mali

Innoson moves into the big league with export of cars to Mali

Innoson moves into the big league with export of cars to Mali In what is a major stamp of approval for its products, Innoson...


UBA share cancellation explained….. but questions remain

UBA share cancellation explained….. but questions remain

United Bank of Africa, (UBA), announced earlier in the week that it had obtained shareholder approval to cancel over 2 billion ordinary shares held...


All the major economic news from Nigeria in 5 minutes-19/7/2017

All the major economic news from Nigeria in 5 minutes-19/7/2017

Summary of the top business, economic and political news in Nigeria today. Corporate Affairs Commission (CAC), in Abuja on Tuesday shut down business activities...


Guinea Insurance and Fortis Microfinance bank say late results not their fault

Guinea Insurance and Fortis Microfinance bank say late results not their fault

Two of the 17 companies that were recently suspended by the Nigerian Stock Exchange (NSE) for late submission of results have blamed their primary...


These 2 insurance companies are running on empty

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....


CBN extends its support for Skyebank to 2018 after N100bn bailout         

CBN extends its support for Skyebank to 2018 after N100bn bailout         

The Central Bank of Nigeria (CBN) has extended financial support for Skyebank till next year. The  bank in a statement, said it was still...


Windfall as UBA “buys back” 2 billion shares worth N20.1 billion

Windfall as UBA “buys back” 2 billion shares worth N20.1 billion

In a notice sent to the Nigerian Stock Exchange, UBA announced the cancellation of 2,080,194, 955 shares held by staff under the Staff Share...


All the major economic news from Nigeria in 5 minutes – 18/7/2017

All the major economic news from Nigeria in 5 minutes – 18/7/2017

Summary of the top business, economic and political news in Nigeria today.   Acting President Yemi Osinbajo has pledged to grant tax relief for...


ChapelHill Denham launches first series N200 billion Nigeria infrastructure debt fund

ChapelHill Denham launches first series N200 billion Nigeria infrastructure debt fund

ChapelHill Denham yesterday launched the first series of its N200 billion Nigeria Infrastructure Debt Fund (NIDF). The fund is reputed as the first-ever listed...


These 8 female bank directors are leading the way in boards full of men

These 8 female bank directors are leading the way in boards full of men

The great...


All the major economic news from Nigeria in 5 minutes – 17/7/2017

All the major economic news from Nigeria in 5 minutes – 17/7/2017

Summary of the top business, economic and political news in Nigeria today.   The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has...


MRS Oil Plc Chairman Sayyu Dantata resigns

MRS Oil Plc Chairman Sayyu Dantata resigns

In a notice sent to the Nigerian Stock Exchange (NSE), the management of MRS Oil Plc informed the investing public of the resignation of...


Oando berates media for reporting that it is under investigation by SEC; Channels pull down story

Oando berates media for reporting that it is under investigation by SEC; Channels pull down story

In an uncanny press release issued on the website of the Nigerian Stock Exchange, Oando Plc berated media houses for reporting that it is...


SEC is investigating Oando over ConocoPhillips

SEC is investigating Oando over ConocoPhillips

Foreign investors in upstream producer Oando Plc have sent a petition to the Securities and Exchange Commission (SEC) regarding their concerns over Oando’s financial...


All the major economic news from Nigeria in 5 minutes – 14/7/2017

Summary of the top business, economic and political news in Nigeria today.   The Commissioner of Finance, Economic Planning and Budget, Hon. Akinyemi Ashade,...


Ecobank Nigeria restricts $1000 spending limit to platinum Naira mastercard holders

Ecobank Nigeria restricts $1000 spending limit to platinum Naira mastercard holders

Customers using Ecobank master cards for international transactions may be forced to get the Ecobank platinum card in order to maximize their dollar spend...


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

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...


All the major economic news from Nigeria in 5 minutes – 13/7/2017

All the major economic news from Nigeria in 5 minutes – 13/7/2017

Summary of the top business, economic and political nes in Nigeria today.   The Nigerian Content Development and Monitoring Board has said it is...


Etisalat Nigeria has rebranded into 9Mobile Telecom

Etisalat Nigeria has rebranded into 9Mobile Telecom

A new...


Why Diamond Bank is not issuing bonds

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...


Zenith Bank sells stake in Life Insurance firm to Prudential UK

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...


All the major economic news from Nigeria in 5 minutes – 12/7/2017

All the major economic news from Nigeria in 5 minutes – 12/7/2017

Summary of the top business, economic and political news in Nigeria today.   The Federal Government on Tuesday, disclosed that the current  economic recession  will end in...


10 “zombie” Insurance stocks you should flee from

10 “zombie” Insurance stocks you should flee from

The Insurance sector of the Nigerian stock exchange is not one to be entirely bullish about if you are a lover of fundamentals. Fundamental...


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

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

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...


Uber just rolled out these new guidelines to curb irritating drivers

Uber just rolled out these new guidelines to curb irritating drivers

Ride sharing app, Uber in the midst of the controversy surrounding the company has revealed its updated guidelines for both users and drivers. Here...