Eaton, a United States power management company said it is out to drive energy growth in Nigeria’s emerging economy.

SEC has come up with a new rule that dividend would be returned to the company to start up a new business outside its original business after one year of release without claim from shareholders. In this interview, shareholders disapprove of such rule. They argue that companies do not release the dividend warrant until after four months and that the dividend warrant would also go through other processes, therefore the directive cannot work unless the Companies and Allied Matters Act is ammended.

On the top 10 performing stocks were the shares of Airline Services and Logistics, ASL Plc, Seplat Petroleum Development Company plc, Cadbury Nig. Plc, Okomu Oil Palm Co. Plc, Cement Company of Northern Nigeria, CCNN Plc and Vitafoam Nig. Plc.

The Nigerian Content Development and Monitoring Board, NCDMB, said that over $1bn has been invested in the Nigerian oil and gas industry to create capacity and execute Nigerian Content scopes provided on the Egina deep water project.

KPMG professional Services has called on stakeholders and audit committee members of public companies to form a coalition against the Financial Reporting Council’s, FRC, proposed unification of corporate governance code, and make sure it does not come into effect pending the amendment of some guidelines that violate efficiency in the capital market.