Economy exits contraction but households remain pessimistic — CBN
•As PMI rebounds to 50.1pts •Business confidence moderates to 7.2pts •Households shun houses, cars, investments •Food remains top spending priority By Babajide Komolafe Nigeria’s economy exited contraction in June as the Purchasing Managers’ Index, PMI, rebounded to 50.1 points from 49.6 points in May, driven by sustained expansion in the agriculture sector despite continued weakness […]
With infrastructure, companies will spring up — John Holt MD
“In Nigeria, infrastructure is a major challenge, once we have infrastructure, this country will grow and a lot of companies will spring up. In this country, if you provide quality service, Nigerians will pay, no matter how much, Nigerians are ready to payâ€
NB posts N24.6bn profit in six months
Nigerian Breweries PLC has declared a Profit Before Tax (PBT) of N24.6 billion for the half year ended June 30, 2009. This represents a 35.8 per cent increase over 18.1 billion PBT declared for the same period in 2008.
MFBs still have high non performing loans —CBN
The Central Bank of Nigeria has asserted that most microfinance banks in the country have poor asset quality, with average non-performing loan at 40% and Performance at Risk at 45% as against the 25% prescribed for MFBs.
Blue chips’ gains buoy market value by N154bn
The upward trend in the market indices continued, Monday, as gains on the share prices of majority of the listed companies, shored up the value of listed equities by N154.278 billion.
Labour seeks prosecution of those behind failed banks
TRADE Union Congress of Nigeria(TUC)has called on the Economic and Financial Crimes Commission (EFCC), to immediately arrest and commence prosecution of all those said to have contributed to the collapse of some banks in the country in which about N 188 Billion of depositors funds are trapped.
Life insurers dialogue on global economy
By Ifeanyi Ugwuadu Nigeria’s life insurance companies will this week begin discussion on the challenges and opportunities which the global financial meltdown presents to the market and ways to chart a new course for both policyholders and underwriters. Holding under the aegis of the Life Offices Committee (LOC), the technical arm of the Nigerian Insurers […]
Oasis targets top three position
Undeterred by its task to be among the top playyrs in the insurance market, the Managing Director of Oasis Insurance Plc, Babatunde Oshadiya said the company would not only play top but be among the major top three players in the market.
Ibru identifies real sector as a viable investment option
Group Managing Director/CEO of Oceanic Bank International Plc, Dr. Cecilia Ibru, has identified the domestic real estate sector as a thriving industry that affords sus-tained long-term return for investors even in this era of the global economic meltdown
Dangote may emerge NSE president
Indications emerged Monday, that Alhaji Aliko Dangote may become the next President of the Nigerian Stock Exchange (NSE), come August 6, 2009, when the Exchange holds its next Annual General Meeting (AGM).
NBC targets improved bottom lines, launches sales academy
As parts of plans aimed at improving its bottom lines in the years ahead, Nigerian Bottling Company Plc has put in place a strategy to boost its turnover, with the launch of a sales academy.
