FTSE Russell reclassification, opportunity to deepen Nigeria’s market — NGX Group CEO
The confirmation of Nigeria’s return to FTSE Russell’s Frontier Market universe creates an opportunity to deepen the country’s capital market, broaden international participation and mobilise more long-term capital for Nigerian businesses, Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, has said. FTSE Russell has confirmed that Nigeria’s reclassification from Unclassified to Frontier Market […]
IPF: NSE to compensate 158 investors with N42.227m
Investors who lose money as a result of wrong doing by certain stockbroking firms licensed by the Nigerian Stock Exchange, NSE, now have cause to smile as the Board of Trustees of Investors Protection Fund, IPF, of the exchange has approved N42.227 million to compensate 158 claimants.
MAN threatens to cut of Ikeja DISCO over unending outages
Manufacturers in Lagos have threatened to abandon the Ikeja Distribution Company (Ikeja DISco), if its quality of power supply continues to deteriorate.
President decries level of debt in aviation sector
President Muhammadu Buhari, yesterday, in Abuja directed the Ministry of Aviation to contemplate plans of evolving a national carrier for Nigeria.
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BoI grants solid minerals sector N24.6bn loan
The Bank of Industry on Wednesday put its total loan portfolio in the solid minerals sector of the economy at N24.6 billion. The Managing Director, BoI, Mr Rasheed Olaoluwa, said this in Abuja at the opening session of the bank’s one day Solid Mineral Sensitisation Forum tagged “ investment opportunities in the solid minerals sector’’.
MTN approaches CBN for early repayment of $600m debt – Report
In an apparent move to save its image from possible damage, MTN Group is said to have commenced talks with Nigeria’s Central Bank for early repayment of almost $600 million of debt it owes some Nigerian banks.
A building contractor’s liability and a structural engineer’s liability (2)
Our first lesson from the incident is that we must recognize that a building contractor has a duty of care with respect to the persons associated with the works at his/her building site in that these persons must be kept out of harm’s way. A complaint that a building contractor has failed in his/her duty of care could involve the civil wrong done to the persons who died in the building as well as a criminal offence for which the state would prosecute.
Dangote commissions $400m cement, coal plants in Zambia
Dangote Group, yesterday, strengthened the bilateral trade between Nigeria and Zambia with the official opening of the Group’s $400 million cement plant, with installed capacity of 1.5 million metrics tonne per annum, and a 30 megawatts coal plant to power the factory.
Kachikwu’s appointment as new NNPC GMD, change people had been clamouring for – Stakeholders
Stakeholders in the oil and gas sector on Monday lauded Federal Government’s initiative in appointing a private sector-based knowledge to drive the Nigerian National Petroleum Corporation (NNPC) operations.
Oil crash, dwindling revenue threaten Nigeria’s 2015 budget
The low crude oil price has started to take its toll on Nigeria’s economy, triggering a huge decline in the country’s foreign reserves and engendering a free fall of the naira, and a host of others. Already, in the April Federation Account Allocation Committee, FAAC, meeting, it was stated that the country recorded a revenue shortfall of N 86.42 billion, due to a N78.36 billion decline from oil revenue.
