Capital market shareholders have lauded the Securities and Exchange Commission (SEC) decision to suspend BGL Asset Management Limited (AML) and its subsidiaries from capital market activities, saying the development is a indications that the new regime would operate with zero tolerance to market infractions. SEC, at its meeting held on May 19, 2015 considered the […]
Tag: Nigeria
MTN Nigeria warns reprisal attacks on S.Africans will plunge Nigeria’s economy
MTN Nigeria has cautioned against reprisal attacks on multinationals that have links with South Africa owing to the xenophobic attacks on Nigerians in South Africa, saying any such occurrence would result in monumental loss and setback for the Nigerian economy. Xenophobic attacks on foreigners in South Africa by some group of South Africans has led […]
Nigeria: Large cap stocks Dangote, Transcorp, Seplat see large drops in profit
Some key quoted companies at the Nigerian Stocks Exchange have recorded huge loss in their operations but the banking sector has performed well during the first quarter,2015 Daily Trust finding revealed. Data from Reuters revealed that as at the end of the quarter, Dangote Sugar’s first quarter pretax profit dropped from 51.9 percent to N3.79 […]
Nigeria: Profit taking weakens momentum as NSE Index drops 0.16%
Despite the positive close it had in the previous trading session last Thursday, equities market resumed on a bearish note on Monday as investors traded cautiously. Key market indicators, the All-Share Index and Market Capitalisation, declined by 0.16 per cent each. The loss can be attributed to profit-taking actions seen in some large-cap counters such […]
IMF Lauds Nigeria’s Belt-tightening response to declining Oil Prices
The International Monetary Fund (IMF) has applauded Nigeria’s response to the declining prices of oil just as African finance ministers expressed concern that the slow growth of the Chinese economy will impact negatively on many African countries. Responding to a question at the IMF/World Bank Spring meetings, yesterday, the IMF Managing Director, Christine Lagarde, commended […]
Nigerian Chamber of Commerce lobbies for lower interest rates from 13% to single digits
Lagos — The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has made an appeal to the incoming government of General Muhamadu Buhari and on the Central Bank of Nigeria to do everything possible to reduce the Monetary Policy Rate (MPR) to a single digit number from the 13 percent it presently […]
Falling oil prices gives petronations less wiggle room increasing political risk
Oil producing countries have experienced a rise in political risk, finds Aon’s 2015 political risk map, which focuses on emerging markets. Only seven countries managed to reduce risk compared to last year, while the commodity price decline was a common factor in most of the 12 countries that were downgraded. Oil prices may be stabilising […]
Is Mugabe Jeopardizing the African Union’s Credibility?
Zimbabwe’s President Robert Mugabe (seated) waits to address the 66th United Nations General Assembly at the U.N. headquarters in New York, September 22, 2011 (Courtesy Reuters/East). This is a guest post by Nathaniel Glidden, intern for the Council on Foreign Relations Africa Studies program. He is currently pursuing a Master’s in International Affairs with concentrations […]