A Unit of Shell Just Helped The Naira Hit a 3 Months High Against...

Nigeria's naira strengthened against the dollar on the interbank market on Monday, reaching its strongest in almost three months, as a unit of Royal...

Here Is What The GMD of Dangote Sugar Had To Say About The 2014...

Dangote Sugar Plc released its 2014 half year results showing a10% drop in revenues and a 5.5% drop in pre-tax profits. It is always...

Official: Lafarge Wapco Changes Its Name to Lafarge Africa Plc

Lafarge Cement WAPCO Nigeria Plc notified The Nigerian Stock Exchange that with effective July 9, 2014, the Company’s name was changed from Lafarge Cement...

5 Year Blue Print: Sovereign Trust Plans N1.1billion Rights Issue

Sovereign Trust Insurance Plc notified The Nigerian Stock Exchange of their intention to raise N1.1 billion through a Rights Issue. The Company explained that the...

Here Is What Happened To Ugandan Currency After The Court Struck Out Homosexuality Law

The Ugandan shilling gained on Friday against the dollar after the country's constitutional court struck down an anti-homosexuality law that punishes gay sex with...

Official: Sarah Alade Named African Finance Corporation Chairman, Elumelu & Aig-Imoukhuede Also On The...

The Board of the Africa Finance Corporation (AFC) elected yesterday Dr. Sarah Alade as chairman of the Board of Directors. The lender also named Lamido...

Official: MTN Group Appoints Founder As New Group COO

  Reuters reports Africa's biggest telecommunications operator MTN Group said on Thursday it had appointed Zunaid Bulbulia as its new group chief operating officer, adding...

2014 H1: Stanbic IBTC Proposes N1.10 Interim Dividend…See Details

STANBIC IBTC HOLDINGS PLC has proposed an interim dividend of N1.10. See details below; Proposed Dividend N1.10 Kobo, Proposed Bonus Nil, Closure Date 5th August, 2014, AGM Date...

Fraud? Afren Oil Suspends CEO & COO

London-listed oil explorer Afren Plc said its board had temporarily suspended Chief Executive Osman Shahenshah and Chief Operating Officer Shahid Ullah pending an investigation...

This How Much The Economy Is Owing Nigerian Banks

Deposit Money Banks’ otherwise know as commercial banks have in their combined balance sheets total loans and advances to the domestic economy  a total...

Official: Diamond Bank Opens N50.37bn Rights Issue

Diamond Bank says it has concluded arrangements to raise N50.37bn through a rights issue. The bank said the development followed the approval it received from...

FINALLY: Oando Concludes $1.5billion Acquisition of COP Deal, Share Price Gains 10%.

Oando Energy Resources Inc  today announced the completion of its acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) for...

BIG DEAL: GSK Seeks Approval For Worlds First Malaria Vaccine

  GlaxoSmithKline said on Thursday it is applying for regulatory approval for the world's first vaccine against malaria, designed for children in Africa. The British...

How Nice! Presco Chairman Blames Poor 2013 Results On IFRS

Presco profits was down 64% in 2013 due to revenue drops, write offs and interest cost. In fact IFRS was basically to blame. Here...

Nigerian Foreign Reserves Is Up By 3.8% To $38.5billion

Nigeria's foreign exchange reserves climbed to $38.49 billion on July 18, a 3.8 percent increase on a month ago, when they were $37.09 billion,...

Official: Zenith Bank Confirms Jim Ovia as New Chairman – NSE

It appears the news early last week that Jim Ovia will be confirmed as Chairman of Zenith Bank has now been confirmed. This was...

S.Africa’s Woolworths Is About To Be Taken Over In a $2.2billion Deal

You remember Woolworths? The South African fashion store that was once trading on Adeola Odeku VI? The company is about to be bought by...

CBN Is Selling T-bills on July 23, Are You Buying?

Reuters reports the Central Bank is planning to raise N134b in treasury bills next week. Last week's sale saw yields drop to as low...

Official: Oando Acquires Medal Oil Giving It 100% Ownership of OML 131

Oando today released this statement; Oando Energy Resources Inc. (“Oando Energy Resources” or the “Company”) (TSX: OER), a company focused on oil and gas exploration...

Our Love For Bread, Cereals, Meat Push Nigerian Inflation Rate 10 Months High….Now 8.2%

Nigeria's consumer inflation rose for the fourth straight month in June to hit 8.2%, a 10-month high, driven by higher food prices, the statistics...

Jim Ovia May Be Announced As The New Zenith Bank Chairman This Week

There are strong indications that if all calculations remain unchanged, the Board of Directors of Zenith Bank Plc may announce the former Managing Director/Chief...

Guinness Plans To Expand Its Retail Presence Starting With 9,200 Outlets.

Guinness Nigeria Plc is set to expand its retail outlets in the country, using its newly-introduced Retail Loyalty Programme. This was made known at the...

No Jokes, Ghana Sold Treasury Bills At 24% Last Week (CBN Sold At 9%)

The Central Bank of Nigeria sold treasury bills last week for between 9% - 10% last week. The Bank of Ghana also sold Treasury...

Union Bank Cards Now Accepted on Paypal

Union Bank of Nigeria Plc has announced that its electronic cards – Visa and MasterCard, are now accepted on the PayPal platform. PayPal is an...

B-E-W-A-R-E: This Is What Will Now Happen To Your ATM Card If It Gets...

  That is exactly what will happen to your ATM card. I haven't had a card trapped in an ATM in years but that doesn't mean...

Official: Caverton Group Announce New MD For Caverton Helicopters

Caverton Offshore Support Group made the following announcements on the floor of the NSE. Caverton Offshore Support Group Plc notified The Nigerian Stock Exchange that...

C.O.P Deal: Oando Increases Its Stake in OER to 93.6% Via Debt Conversion

Reuters reports; Nigeria's Oando Plc has converted a $218.9 million loan to its Toronto-listed unit Oando Energy Resources (OER) to equity, to increase its stake in...

Deal: Helios Towers Raises $630m Equity To Fund New Acquisitions. They Have Now...

Reuters report Helios Towers Africa said on Thursday it has secured equity financing of $630 million from new and existing investors, a day after...

BIG DEAL: Lafarge Shareholders Also Gives Approval For N100billion Debt or Equity

  LAGOS, July 9 (Reuters) - Shareholders in Lafarge Wapco , the Nigerian unit of French cement maker Lafarge , on Wednesday approved a $1.35...

CBN Publishes Signed 2012 Annual Report Mentioned In The Controversial FRC Allegation Against Sanusi

The Central Bank today published a copy of its 2012 Annual report showing a surplus of N103billion a 29% rise from the N80billion posted...

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UPDATE: Dangote announces impending sale of Dangote Flour Mills Plc to Olam

The Board of Dangote Flour Mills Plc has notified the NSE and the investing public about the acquisition of its shares by Olam International Limited.
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Report shows growing preference for digital banking transactions in Africa

A recent survey has shown that 40% of bank customers across Africa now prefer digital banking, even as 40% still like to visit their local bank branches.
NERC

NERC introduces franchising for Discos, as groups and consumers commend move

NERC is officially introducing sub-franchising of DisCos' operations in order to improve access to safe and reliable electricity services to Nigerians.