All business, markets and economics news
Central Bank of Nigeria (CBN) has sold N64.56 billion worth of 91-day and 182-day treasury bills yesterday, the bank said in a statement. The statement said that the instruments were sold on Wednesday, December 28.It said that out of the amount, it sol...
Shareholders have overwhelmingly endorsed the new holding structure of the United Bank for Africa (UBA) Plc, the pan African financial services Group with presence in 19 countries across Africa. At the meeting held in Lagos yesterday, shareholders unan...
DAAR Communications, owners of RAYPOWER FM, AIT, and DAARsat, yesterday announced a turnover of N4.825 billion in its 2010 operations. This is even as the company also disclosed that the federal government was yet to pay the outstanding debt owed it fo...
National operator and the nation’s wholly indigenous telecommunication network, Globacom, has concluded the donation of cash and consumable materials to inmates of 40 orphanages across Nigeria in celebration of the yuletide. The gesture was infor...
In pursuit of its agenda to empower Micro Small and Medium Scale Enterprises (MSME) as the main drivers of the economy, Diamond Bank Plc recently hosted entrepreneurs in Port Harcourt to a capacity building seminar – the 17th in the series since ...
Ten days after Nigeria Communication Satellite (NigComSat 1R), Nigeria’s replacement satellite re-entered into space , it has successfully entered into its permanent orbital home where In-Orbit Testing (IOT) has begun ahead commercial servi...
The Senate Committee on Ecology and Environment has urged the federal government to provide more funding for agencies responsible for monitoring the environmental impact of oil exploration to enable them function effectively. Chairman of the committee,...
When President Goodluck Jonathan announced plans to raise tariff on certain imported food components in the proposed 2012 budget, most people gave it a fleeting thought. But when Saunsi Lamido Sanusi, Central Bank of Nigeria (CBN) governor made referen...
Activities on the floor of the Nigerian Stock Exchange last week continued on the upbeat as the NSE All-Share Index appreciated by 737.32 points or 3.6 per cent to close on Friday at 20,763.26 while the m...
The Nigerian Communications Commission (NCC) has made good its threat to banks and companies illegally occupying unlicenced spectra by shutting down and confiscating the transmitting equipment of Intercontinental Bank, IPNX and Galaxy Wireless, two tel...
Cost of borrowing may rise this week if the Central Bank of Nigeria continues its hostile mop in the market. The central bank sold sizeable worth of treasury bills through open market operations last week to reduce the impact of the release of budgetar...
Following a successful completion of the reconstruction of the Union Bank’s shares, the Nigerian Stock Exchange (NSE) at the weekend lifted the full suspension placed on trading in the shares of the bank on the floor of the Exchange. It wou...
Concerned that foreign investors control about 80 per cent of investments at the Nigerian Stock Exchange (NSE), the Securities and Exchange Commission (SEC) said it has drawn up strategies that would attract local investors to invest more in shares on ...
As the Nigerian Stock Exchange proposes a new set of listing requirements, Chris Ugwu in this write-up examines its need in the nation’s fledging capital market. Unlike some of the markets in other climes, since the beginning of the econom...
Stanbic IBTC Bank, a member of the Standard Bank Group, has opened a new branch at the ultra-modern Ikeja City Mall for which Stanbic IBTC and Standard Bank were sole financiers. The sprawling 28,500m2 retail center in the Lagos State capital was opene...