All the latest Nigerian company news, market intelligence and analysis

Nigerian Stock Exchange

NSE ends the week on a negative note as MTN loses for the first...

The Nigerian Stock Exchange ended Friday's trading session in negative territory. The All Share Index closed at 30, 881.29 basis points, down 1.89%.

FCMB empowers more SME customers in Season 2 of “Race to China Promo”

First City Monument Bank (FCMB) has rewarded another set of its Small and Medium Scale Enterprises (SMEs) customers in Season 2 of the Bank’s reward scheme tagged “FCMB SME Race to China Promo”.
Old Mutual Limited suspends CEO, Peter Moyo suspended by Old Mutual, Old Mutual Nigeria

Old Mutual suspends CEO with immediate effect, as CEO reacts

@OldMutualLtd, the parent company of @OldMutual_NG, has suspended its Chief Executive Officer, Peter Moyo (@Mtheera) with immediate effect.
Veritas Kapital Insurance Plc

Veritas’ gross premium rises 40% in 2018 as insurance companies struggle

@veritaskapital has released its consolidated and separate financial statements for the year ended December 31, 2018, posting a 40% increase in its gross premium.
NSE Rules, Nigerian Stock Exchange,

Regulators streamline listing process in efforts to attract more firms to the NSE

In a bid to increase the number of quoted companies in the capital market, the Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC), have disclosed their commitments to ease the listing process.
Lagos-Ibadan rail project will be completed in 2020 —CCECC

Contractor gives date for the completion of the Lagos-Ibadan rail project

Mr. Jaceques Liao, the Executive Director of China Civil Engineering Construction Corporation, recently assured that the Lagos-Ibadan rail project that is currently ongoing will be completed by April 2020.
Fortune Magaizne Ranks Dangote

Dangote Cement Plc’s N50 billion Commercial Paper closes today

Dangote Cement Plc has announced that it will be raising N50 billion in the fifth, sixth, and seventh series of its N150 billion Commercial Paper (CP) programme.
House of Representatives, Nigerian National Petroleum Corporation, National Petroleum Investment Management Services

Total to refund $592 million to FG, as Reps consider probing NNPC/Chevron contract

Total Exploration and Production Nigeria (TEPNG) has been directed to refund $592 million to the Federal Government. @HouseNGR gave the directive after an investigation was made into the budget of certain projects.
Benedict Peters' Bavura Holdings get concession for platinum mining

Zimbabwe gives Benedict Peters’ Bavura Holdings a platinum mining concession

Bavura Holdings, which is linked to Nigerian billionaire and founder of Aiteo Group, Benedict Peters, has been awarded a concession to explore/mine platinum in Zimbabwe.

Outsource Global Extends its BPO Service to Japan

The Africa Business Process Outsourcing industry got another boost as the leading player in that space, Outsource Global, recently announced their expansion into Japan.
Vitafoam Nigeria Plc, Dividends and bonus shares, Subsidiaries

Vitafoam’s Half-Year results temporarily pushed stock to a 3-year high

Vitafoam Nigeria Plc's share price attained a 3-year high on Wednesday, thanks to the significantly-positive half-year 2019 results posted by the mattress-maker.
Nigerian Stock Exchange

The Stock Market continues bullish run for the third time this week

The Nigerian Stock Exchange ended  Thursday's trading session in positive territory. The All Share Index closed at 31,477.51 basis points, up 1.07%.
Richard Rivett-Carnac, International Breweries

AB InBev estimates total investments in its Sagamu brewery to be $400 million

@abinbev has estimated the total investment it has made in its new brewery in Sagamu, Nigeria, to be up to about $400 milion.
Air Peace

How Nigeria’s Air Peace lost N1.2bn trying to operate across Africa

@flyairpeace says it lost over N1.2 billion over the past year in the course of its flight operations into other West African countries.
NSE Rules, Nigerian Stock Exchange,

NSE receives SEC’s approval to effect new rules/amendments

In a bid to make trading on The Nigerian Stock Exchange (NSE) more efficient, the Securities and Exchange Commission (SEC) has approved new rules.
Conoil Plc

Conoil announces the appointment of an Acting Director of Finance

The mamnagement of @Conoil_Plc, has announced the appointment of Mr. Ismail Salam as the Acting Executive Director for Finance.
London Stock Exchange

Why the London Stock Exchange is scouting for potential African listings

The London Stock Exchange (LSE) is on the road, scouting for potential new listings from African countries, including Nigeria.
Stamp Duty Probe: Reps. go tough, revealed 15 Banks owe N1.5bn

Stamp Duty Probe: Reps act tough, reveal 14 banks are owing N1.5bn

About fifteen (15) Nigerian banks will have to cough out the sum of N1.5 billion, being the total sum of under-remitted stamp duty funds owed the Federal Government.
MTN Nigeria

MTN Nigeria: The Phoenix of Africa

Following the listing of 20.3bn units of its shares on the premium board of the Nigerian Stock Exchange (NSE) at a price of N90 per share, MTN Nigeria (MTNN) share price gained 46.3% to close at N131.70/s on Tuesday, 21 May; only four days post listing.
Investors lose N713 billion in Nigerian Stock Exchange, Bargain hunting in stock market

MTN Nigeria takes over the Stock Market with its exceeding trades

The Nigerian Stock Exchange ended Wednesday's trading session in positive territory. The All Share Index closed at 31,145.15 basis points, up 3.07%.
DiamondXtra draw, Access Bank and Diamond Bank merger

Access Bank presents salary-for-life, education grant, cash prizes to DiamondXtra customers

@myaccessbank has concluded its quarterly draw for DiamondXtra customers. The season 11 edition saw a total of N51m won through cash prizes, salary-for-life, education grant, and rent for one year.
Forte Oil Plc

Forte Oil Plc declares special interim dividend to shareholders

Forte Oil Plc has declared an interim dividend of N1.15 kobo per 50 kobo ordinary share for the financial period ended Monday, December 31, 2018.
Access Bank Plc

Access Bank and Etiebet to settle alleged N2.4bn debt case out of court

@myaccessbank and Obodex Nigeria Limited have notified the Federal High Court in Lagos of their intention to settle the legal dispute out of court.
Aero Contractors Limited

Aero Contractors to increase fleet size after overcoming hard-times

Aero Contractors Limited has disclosed its intention to add more aircraft to its fleet before the end of the year now that it is back in full operations.
Coca Cola, Wall Street, Limca Cola, Carbonated drinks

Coca-Cola to boost earnings in its African bottling unit, halts refranchise

@CocaColaCo has dropped its plan to re-franchise the Coca-Cola Beverages Africa (CCBA), saying it will like to retain a majority stake in its African bottling business
the Nigerian telecoms sector

9mobile drops again, as Nigeria’s mobile internet subscribers hit 115.9m

The total number of Mobile Internet Subscribers in Nigeria reached 115.9 million in March 2019 according to the latest internet subscribers data released by @NgComCommission 
Nigerian Communications Commission

NCC mandates MTN to pay final tranche of N330bn fine before month end

The Nigerian Communications Commission (NCC) has disclosed that MTN Nigeria Communications Plc has till Friday, May 31, 2019, to pay the last tranche of it N330 billion sim registration fine. The remaining balance is N55 billion.

Andela explains startups’ preference for Venture Capitalists over banks

In January 2019, Andela secured $100 million from foreign investors, thereby continuing a trend that has long characterised the Nigerian startup space. 
Meristem Green Fest Masterclass

Meristem Green Fest: Masterclass speakers and organic vendors unveiled

Meristem Green Fest (@meristemnigeria) announces the facilitators for the masterclasses set to hold at the event.
NAICOM, Bancassurance, Microfinance banks, Guinea Insurance

Insurance Companies shocked as NAICOM increases capital base by 200%

The National Insurance Commission (NAICOM), has increased the minimum paid-up share capital of insurance and reinsurance firms.


Canada invited 3,357 Express Entry candidates with scores as low as 300

Canada invited 3,357 Express Entry Candidates with scores as low as 300

Canadian province, Alberta, has issued a total of 3,357 invitations to apply for a provincial nomination for Canadian Permanent Residency (PR) to Express Entry candidates with Comprehensive Ranking System scores as low as 300.

Purported EFCC raid on MTN Nigeria head office might be false

There were wild media reports, late Friday night, purporting that the Economic and Financial Crimes Commission (@officialEFCC) raided the head office of @MTNNG. This might be wrong.
Treasury Bills

Daily Update: T-Bills Market turns bearish as CBN resumes OMO sales

Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills and Bonds. This is brought to you by Zedcrest.