Equity investors lose N4.9trn, as market uptrend reverses
By Peter Egwuatu The Nigerian stock market reversed its upward trajectory last week with investors losing over N4.915 trillion of their investment listed on the Nigerian Exchange Limited, NGX. The development was driven by a sustained profit-taking move across major sectors. Consequently, the NGX market capitalisation, which represents the total value of stocks listed on the […]
Oil shutdown disrupts Nigeria’s economic growth
The Nigerian oil sector was badly hurt by the shutdown of Bonga offshore field, Forcados pipelines among other facilities in 2011.
NSE boss optimistic on capital market rebound
Notwithstanding the bearish trend amounting to about N1.4 trillion recorded in the Nigeria Stock Exchange (NSE) last year, the Chief Executive Officer (CEO) of the Exchange, Mr Oscar Onyema has expressed a positive turn around for the capital market in 2012, pegging this on the Council and the management team of the Exchange’s effort to continue market reforms that would champion the acceleration of Nigeria’s and Africa’s economic development.
2011 result: Shareholders restate confidence in Zenith’s management
Shareholders of Zenith Bank Plc have expressed their pleasure on the financial performance delivered by the bank for the year ended 31st December, 2011, saying that it attested to the doggedness of the management team.
FCMB, FinBank to conclude full integration in Q2
First City Monument Bank Plc, FCMB, has said that complete integration of its business operation and legal framework with its merging partner, Finbank Plc, will take full effect before the end of second quarter of the year, specifically by July 1, 2012.
Local content: ARCO launches $36m boats for Total
Stakeholders in the Nigerian oil and gas industry witnessed the launching of two out of four fast boats commissioned by ARCO Marine for a contract sum of $36 million. Another of the boat is expected in before the end of this month while the fourth will be delivered for use next year.
