CATEGORY: NEWS REVIEW

Nigerian Stock Exchange Daily Summary 19/6/2012

Nigerian Stock Exchange Daily Summary 19/6/2012

  Please find below the link to daily data of the Nigerian Stock Exchange for July 19,2012. The NSE All Share Index gained 26...


WOW…SGBN IS BACK

WOW…SGBN IS BACK

Remember SGBN, Societe Generale Bank Nigeria? Well just read that they are now back as Heritage Bank. I learnt the Saraki’s, owners of the...


FINANCIAL TIMES THINK GEJ IS JOBLESS AS HE PLANS TO COMMISSION ANOTHER DANGOTE PLANT

FINANCIAL TIMES THINK GEJ IS JOBLESS AS HE PLANS TO COMMISSION ANOTHER DANGOTE PLANT

  President Jonathan recently commissioned a 5m metric tonne cement plant for Dangote Cement on the personal invitation of Aliko Dangote. This was the...



IS R.KELLY JAIL BOUND TOO? HE OWES $4.8M IN BACK TAXES

IS R.KELLY JAIL BOUND TOO? HE OWES $4.8M IN BACK TAXES

  World Renowned RnB Singer is thought to owe about $4.8m is back taxes. He is thought not to have paid taxes since 2005....


CBN WEBSITE WEARS AN ALL BLACK BACKGROUND

CBN WEBSITE WEARS AN ALL BLACK BACKGROUND

As you may well know the Central Bank of Nigeria lost about 8 of its staff in the Dana plane crash. The bank has...


SEC DG IS SENT ON COMPULSORY LEAVE

SEC DG IS SENT ON COMPULSORY LEAVE

Reports from various news sources indicate the embattled Director General of the Securities and Exchange Commission, Arunma Oteh has been sent on compulsory level...


NIGERIAN ECONOMY TO GROW 6.5% IN 2012, INFLATION TO RISE 13.57%

NIGERIAN ECONOMY TO GROW 6.5% IN 2012, INFLATION TO RISE 13.57%

According to the recently released Review of the Nigerian Economy in 2011 and Economic Outlook 2012-2015 by the National Bureau of Statistics, Nigeria is...


Ugometrics now on WordPress

Ugometrics now on WordPress

I have been having problems for some weeks now accessing ugometrics.com. It was hosted on blogger and for some reason just started making the...


Break-down of what the Nigerian people spend their money on

Break-down of what the Nigerian people spend their money on

According to the latest official release of the Bureau of Statistics on the Consumption Pattern of Nigerians in 2009/2010, a total sum of N24,253,670,127,758.90 was spent by...


See which of the top 5 banks did better in Q1 2012

See which of the top 5 banks did better in Q1 2012

So the Q1 results has started pouring in and as expected banks have been bragging about surpassing prior year results or gloating about beating...


Is “Estacode” another Nigerian creation?

I was conducting a research recently on public service expenditure. As expected I had to understand the multitude of nomenclatures that exist in government....


Is now the time to allow Nigerian companies buy back their shares?

About 4 – 5 years ago banks and indeed most stocks in Nigeria traded at about 25x their P.E ratios. Stocks were considered a...


Who Audits your Auditors?

At the end of every Financial Year, all companies are statutorily required to turn over the financial statements to Auditors to perform an audit....


Degree Mills you definitely want your kids to avoid

Degree Mills you definitely want your kids to avoid

Ever heard of the word “Degree Mills”?. Well I heard of it some weeks back and thought I share with peeps like me who...


How much does it cost to print a bank statement?

Amidst all the ease and effectiveness of online banking in Nigeria, it is possible for one to ignore the excess charges that we are...


Does Arsenal need Subsidy too?

Does Arsenal need Subsidy too?

It’s been a torrid 7months for Arsenal Fans. From boasting of one of the most reputable midfields in club football the team has now...


Despite being considered as “happy people” why do 93.9% of Nigerians think they are poor?

According to the recently released 2010 Poverty Profile for Nigeria by the National Bureau of Statistics 93.9% of Nigerians actually think they are poor. That’s a...


Its a party, Interest Rate is going up.

We are certainly in interesting times. Interest rates for treasury bills, one of the safest instruments issued by the government, is at a near...


Benue Citizens to pay N1.82b every year as interest on Bonds.

Benue Citizens to pay N1.82b every year as interest on Bonds.

There you have it folks, Benue state just completed the sale of its 14% FIXED INTEREST (yes fixed) Development Bond Issue which is expected...


CBN retains MPR at 12%

CBN retains MPR at 12%

Contrary to expectations of an increase in the monetary policy rate of the Central Bank, the Monetary Policy Committee agreed to hold the rate...


With Access Bank sacking 1,500 Intercontinental Bank Staffs, what exactly have we gained from the much touted “banking reforms”?

News came in on Friday that Access Bank sacked 1,500 staffs of Intercontinental Bank. Actually, insider reports claim that the number is much more...


How Much is Nigeria actually loosing to the strikes per day??

How Much is Nigeria actually loosing to the strikes per day??

There has been loads of estimates as to how much Nigeria is loosing to the strikes everyday. Some have said N75b, some N87, and...


Can someone tell me where subsidy has always been in the budget??

This was a question put up on twitter recently. I and some other handles (twitter users) consulted endlessly and checked every available line in the 2010...


HiTV on the verge of Bankruptcy?

HiTV on the verge of Bankruptcy?

Going by a ‘Legal Notice” by GTB on Page 35 of the Guardian of 23rd November 2011, the stage is set for the gradual...


Nigerian Businesses face huge exposure to exchange rate risk as the CBN plan to devalue the Naira

The Central Bank Governor on Monday announced that the CBN it was looking to devalue the rate of the Naira against the dollar to between N155/N156...


Panel of “Economists” endorse Fuel Subsidy Removal

At the Investment Forum organised by the Securities and Exchange Commission yesterday, panel of economist drawn from the private sector have basically endorsed the...


Fitch declares Nigerian bonds safe…time to consider taking more loans??

Fitch, a world renowned rating agency currently increased the rating of Nigeria’s bonds (debt) from “negative” to “stable” meaning Nigerian bonds are safer to...


Goodluck Mysteriously dissappears

Yesterday at the Common Wealth heads of State Meeting the President was no where to be found as he 3 times did not show...


As Religious bodies spend N2b on advertising, can we complain?

A recent report released in August by Media Reach OMD puts advertising spend by Nigerian companies for the year 2010 at N97.5b. It includes...


JAMB fees in Nigeria top N6.8b annually??

I recently read some article in the newspapers referring to the plan by Jamb to scrap the post UME exams written by students. Just in case...