Energy firm Ardova PLC completed a full buyout of rival Enyo Retail and Supply Limited, the board of directors said in a letter posted by the Nigerian Exchange Limited on Wednesday, almost eight months behind initial target. The purchase marks the second major deal in the mergers and acquisitions market of the Nigerian oil and […]
The total revenue generated by five of the major oil marketing companies in the country jumped by N149.93bn in nine months as fuel demand recovers from the impact of the COVID-19 pandemic. The companies saw their combined revenue for the nine-month period ended September 30, 2021 rise to N593.9bn from N443.97bn in the same period […]
By Aduragbemi Omiyale There are reports that a billionaire businessman, Mr Femi Otedola, is coming back into the capital market on a big scale a few years after he offloaded his stake in Forte Oil , 75 per cent , which later became Ardova Plc under its new owners. It is believed that business mogul […]
The holding company of First Bank of Nigeria, FBN Holdings Plc, has said it has not received any notification of acquisition from the former CEO of Forte Oil, Femi Otedola. In a statement sent to the Nigerian Exchange Limited, the Company Secretary, Seyi Kosoko, responded to the reports that Otedola had allegedly acquired 5 per […]
By Nkiruka Nnorom The share price of FBN Holdings Plc (First Bank Group) rose by 2.45 per cent yesterday to close at N12.55 per share amid controversy over who holds controlling interest in the bank. This comes as sources at the Securities and Exchange Commission, SEC, confirmed to Vanguard that SEC will undertake a review […]
Justice Nicholas Oweibo of the Federal High Court, Lagos, has ordered the interim attachment of all monies belonging to Forte Oil Plc and Veritas Registrars Limited in 21 banks in Nigeria over alleged N464 million debt. The court also ordered the banks to jointly or severally appear before it to show cause why they shall […]
By Charles Abuede The Nigerian bourse was fired up on all cylinders on Thursday and it helped the market to sustain its bullish momentum in the face of falling oil prices across the market spectrum; with institutional investors increasing their capital inflows to Nigerian stocks on the prevailing low returns seen in the debt market. […]
The research analysis of Lubricating Grease market offers significant information regarding the major trends that define this business landscape with regards to the regional outlook and competitive scenario. The report also highlights the limitations & challenges that could hamper the industry remuneration alongside the key opportunities that will aid in business expansion. Moreover, the document […]
nigeria stock exchange ……..As investors trade shares worth N4.536bn Investors on Tuesday traded 376.947 million shares worth N4.536 billion in 4018 deals. This is against 1.724 billion shares cost N3.678 billion in exchanged hands the previous day in 3251 deals. Market capitalisation of listed equities declined by N169 billion to N11.353 trillion from N11.522 trillion […]
The Nigerian equities market extended its losses to the second trading session of the week and month of April on the back of sustained losses in high capitalised stocks. As a result, the All Share Index (ASI) shed 300.73 absolute points, representing a dip of 0.99 per cent to close at 30,226.77 points. Similarly, the […]
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