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Economic growth in Nigeria, Rwanda and other Sub-Sahara African nations is likely to reach more than five per cent on average in 2013-2015 as a result of high commodity prices worldwide and strong consumer spending on the continent, ensuring that the r...
Nigeria Internet Registration Association (NiRA), regulator of Nigeria’s internet space this morning crashed the cost of .ng, Nigeria’s premium domain names from N7.5 million to N15,000 only in order to increase the use of indigenous regist...
Chief As Nigerian’s total debt hits $48.49 billion, more concerns are being raised over the rising level of the country’s debt, both home and abroad. Currently, Nigeria’s external debt stock stands at $6.52 billion or N1.016 trillion ...
With a steady liquidity boost, interbank rates stabilised below the Monetary Policy Rate (MPR) of 12 per cent for active tenors in March while the monetary authority became more strategic in its liquidity management drive. According to the Financial Ma...
The widely acknowledged role of small and medium scale enterprises in fostering economic growth and development notwithstanding, the sector has continued to face several challenges. Some of the challenges they face are inadequate inf...
Nigeria spent a total of $6.42 billion on importation at the end of the fourth quarter of 2012, the Central Bank of Nigeria (CBN) has said. The CBN in its External Sector report of the fourth quarter of the year said the amount was spent on the importa...
Fresh facts have emerged indicating possible plot by the management of the Aluminium Smelter Company of Nigeria (ALSCON), UC RUSAL of Russia, to strip the plant of its assets by declaring them obsolete. Revelations in the companys Financial Statements ...
The Nigerian Communications Commission (NCC) yesterday in Abuja unveiled a new five-year strategic management plan to drive its telecom regulatory mandate in the fast evolving telecom industry in the next five years from 2013 to 2017. The formal unveil...
The Institute of Chartered Accountants (ICAN) has presented certificate of accreditation and recognition to some tertiary institutions and training centres which had satisfied its quality control parameters for accreditation and recognition. A total of...
The federal government has asked the Polish government to support it with expertise especially in the area of transmission as the existing lines in the country are old and weak. While soliciting their support to develop the nation’s evacuation of...
Nigeria’s leading Information and Communications Technology (ICT) company, MTN has said that it is ready to implement Mobile Number Portability (MNP) in consonance with the policy of the industry regulator, the Nigerian Communications Commission ...
The national executive council (NEC) of the Petroleum and Natural Gas Senior Staff Association of Nigeria (Pengassan) has called on the National Oil Corporation of Brazil trading as Petrobras Nigeria Limited to carry along the labour union in the dives...
The International Monetary Fund (IMF) had started a torrent of argument when it recommended the winding down of the Asset Management Corporation of Nigeria (AMCON) in its Article IV Consultation and swift reactions by Amcon and analysts have contradict...
The Central Bank of Nigeria (CBN) said on Monday that it sold foreign exchange worth 300 million dollars in the 26th Wholesale Dutch Auction System (WDAS). The News Agency of Nigeria (NAN) reports that the figure represents an increase of 62.88 million...
Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a positive note with market capitalisation appreciating by N163 billion due to gains by major equities.
The News Agency of Nigeria (NAN) reports that market capitalisation rose by N163 billion to close at N11.14 trillion, up from the N10.99 trillion posted on Friday, an increase of 1.48 per cent.
Also, the All-Share Index, which opened at 34,301.37, grew by 508.88 basis points or 1.48 per cent to close at 34,810.25.
Nestle recorded the highest price gain to lead the gainers' chart with N9.50 to close at N970 per share.
Dangote Cement came second on the gainers' table, gaining N9 to close at N165 while Nigerian Breweries increased by N3.49 to close at N164.99 per share.
CAP rose by N2.90 to close at N40 while Okomu Oil Palm improved by N2 to close at N97 per share.
Conversely, Mobil Oil and PZ Cussons topped the losers' chart with a loss of N1 each to close at N123 and N35 per share respectively.
Access Bank lost 59k to close at N9.91, Air Services decreased by 47k to close at N4.28 while GTBank dipped by 44k to close at N25.50 per share.
Also, the volume of shares traded appreciated by 30.40 per cent as investors staked N5.19 billion on 492.81 million shares transacted in 6,383 deals.
This was in contrast to the 377.91 million shares worth N4.19 billion traded in 6,185 deals on Friday.
NAN reports that IHS was the toast of investors, accounting for 166.76 million shares valued at N353.53 million.
FBN Holdings followed on the activity chart with an exchange of 32.64 million shares worth N689.21 million while Access Bank sold 32.22 million shares valued at N322.46 million.