Shareholders of Flour Mills of Nigeria Plc have endorsed the company’s plan to raise N28.245 billion from the Nigerian capital market through rights issue.The company is seeking to raise N28.245 billion from the market through the issuance of 455...
The Nigerian Stock Exchange has begun market segmentation exercise that will categories the quoted companies by industry, market capitalisation and whether they are growth or income stocks.The Chief Executive Officer of the Exchange, Mr. Oscar Onyema, ...
A total of $9.05 billion, about N1.4 trillion was sold by the Central Bank of Nigeria (CBN) at the Wholesale Dutch Auction System (WDAS) during the third quarter of 2011.Liquidity position in the financial system was further tightened with the withdraw...
The Federal Inland Revenue Service (FIRS) has disclosed that the total tax yield with the inclusion of Petroleum Profit Tax (PPT) from January to September, 2011 stand at N3.37 trillion a ratio of 64 to 36 of oil and non-oil revenue collections.The PPT...
As part of efforts to bridge the housing deficit in the country, Messrs UACN Property Development Company (UPDC), the property development subsidiary of UAC Nigeria Plc, has concluded arrangements to float a real estate investment of N40 billion bond.T...
Less than two weeks after slashing the Net open Position of banks, the Central Bank of Nigeria (CBN) has again raised the figures from one per cent to three per cent. The CBN announced the cuts in the NOP on October 10 after huge demands for dollars we...
The Nigerian capital market has experienced huge volatility in the last few years. In this interview, managing director, Partnership Investment Limited and council member of the Nigerian Stock Exchange; Victor Ogiemwonyi speaks with Stanley Orons...
With the momentum high on mobile money transfer service globally, Nigeria is set to benefit from this multi-trillion naira industry. However, a number of challenges still needs to be surmounted. CHIMA AKWAJA looks at the obstacles, the unnecessary dela...
In Ezekwuabo village, Otolo Nnewi in Anambra State, Keziah Ilodiba, in the early 80s, became popular not because she is a politician or a teacher but because she runs a postal agency. Her dedication and high sense of duty displayed in her handling of p...
That the Central Bank of Nigeria intends to commence its cashless economy programme in Lagos is no longer news. What remains to be seen is whether Lagosians are prepared to cope with the radical change that will take place in financial transactions. PA...
The Minister of State for Trade and Investment, Dr. Samuel Ortom, says that the federal government is determined to encourage patronage of Made - in -Nigeria products. He made the ...
The Taskforce on Trade Facilitation led by its chairman, Mr. David Adejuwon, has urged the Federal Airport Authority of Nigeria (FAAN) to improve its services to passengers especially in w providing sufficient trolleys at theThe Taskforce on Trad...
AIICO Insurance plc has paid claims totaling N2.44 billion within the first eight months of 2011 as against N1.4 billion claims paid during the same period in 2010. The company’s managing director, Mr. David Sobanjo, said the payment was in ...
Following the increasing cases of building collapse across the country some insurance stakeholders have decried the poor showings of insurance companies citing the delay to enforce compulsory building insurances by the regulator as one of the reasons f...
Royal Exchange Plc has recorded a 25 per cent growth in gross earnings during the half year ended June 2011. In a corporate action by the Insurance Company to the Nigeria’s Exchange and obtained by Leadership, the company’s unaudited ...