Lagos — The Nigerian Stock Exchange (NSE), Friday, said the new rule on par value is not yet effective. The exchange, in a bulletin issued by Tinuade Awe, the head of legal and regulation division, titled: “The effective date of SEC approved rules”, said that a date when the approved rule of the exchange will […]
Tag: Nigeria
Nigeria Lost $50 Billion Investment Over Non-Passage of Petroleum Industry Bill
Mr. Sergius Oseasochie is the Managing Director/CEO, Relentech Integrated Services Ltd, Nigeria. He was recently elected into the House of Representatives to represent Esan North-East/Esan South-East of Edo State. In this interview with Ediri Ejoh, he lamented the non-passage of the Petroleum Industry Bill (PIB) by the seventh National Assembly and also emphasized the need […]
Nigeria: Elections Over, Stock Market Investors Recover N1.06 Trillion
Lagos — With the general elections over, producing an eventual winner in General Muhammadu Buhari as President-elect, set to replace incumbent Dr. Goodluck Jonathan, confidence may have gradually started returning to the nation’s capital market, judging by data from the Nigerian Stock Exchange (NSE), as seen in the robust recovery in its basic indicators for […]
Nigeria: Shareholders Laud Suspension of BGL AML, Subsidiaries By SEC
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 […]
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 […]
Nigeria: Oil palm giant Presco unveils expansion plan, invests U.S.$1 Billion
In a bid to further boost oil palm production in the country, Presco Oil Palm Plc has unveiled plans to expand its production capacity by building a new refinery. Indeed, under the expansion plan, the company is expected to stake $30 million on the project to boost oil palm production in the country. Similarly, the […]
Nigerian Gas Tycoon : Govt Losing U.S.$55 Billion Investments Over Low Gas Price
President of the Nigerian Gas Association, NGA, and Managing Director, Oando Gas & Power Limited, Mr. Bolaji Osunsanya, yesterday, called on the Federal Government to increase the prices of gas, stating that the country is losing an estimated $55 billion, about N11 trillion worth of investment due to its refusal to hike gas prices. Speaking […]