The prospect of bleak turnover due to the credit freeze in the banking industry has become a source of concern for the boards of some banks and thus their executive management. Bankers are worried that with low income the banks are getting now prospects of robust dividend is ruled out which is the bottom line for all investors. Bank boards and their executive management will be facing hard times with shareholders at this year annual meeting.Read More
The fluctuating trend in the market is expected to continue this week. However, the declining trend recorded in the most part of last week is expected to ease during week as companies post impressive financials.Read More
Scraps of all forms and make are scattered in different locations in Nigeria, particularly on the streets, highways and water ways, causing unnecessary traffic and obstructing easy navigation on waterways. One of the most visible groups of scraps is the metal scraps, which consist of broken down ships, boats, barges, trailers, etc, and which have not ceased to constitute a nuisance to society.Read More
ERHC is a sub-Saharan, energy investment company with a strong Nigerian background.
The American oil company with a single largest Nigerian interest of 43 per cent has also decided to expand its shareholding with its recent move to get listed on the London Stock Exchange and subsequently on the Johannesburg stock Exchange.
There are concerns that the N500 billion real sector intervention fund announced last week the by the Monetary Policy Committee of the Central Bank of Nigeria (CBN) might become a white elephant initiative like similar ones in the past.Read More
The Central Bank of Nigeria (CBN) has assured stakeholders in the finance sector on the delayed passage of the Asset Management Company Bill, saying that the bill is going through normal legislative process.Read More
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will visit Africa March 7-11, to discuss opportunities and challenges facing African economies in the wake of the global crisis. Mr. Strauss-Kahn will visit Kenya on March 7-8, South Africa on March 9-10, and Zambia on March 10-11.Read More
Managing Director of Spark ATM System, the second largest off-site ATM management company in South Africa, Mr. Mark Sternberg has said that the CBNâ€™s directive on Off-site ATMs will boost to business model of Independent ATM Deployers (IAD) in Africa.Read More
There are clear indications that only few states were able to access the Nigerian capital market for funds via bonds as only nine states have so far raised N108 billion between 1999 to date.Read More
Honeywell Flour Mills Plc has recorded significant improvement in its bottom lines for the third quarter ended, December 31, 2010, financial statements, announcing a 307 per cent growth in it profit after tax to N870.5 million.Read More
The declining trend in the Nigerian Stock Exchange (NSE) continued for the second straight week, as investors holdings in the capital market dropped, last week by N14.71 billion.Read More
Indication has emerged that following the market forecast, Conoil Plc shares last week sustained an upward trend.
Stockbrokers stated that the rise in demand for Conoil shares is an indication of substantial improvement in the companyâ€™s performance and favourable return on investment for its 2009 financial year.
The nationâ€™s insurance industry wrote off a whopping N 1.1 trillion in the last three years as provision for bad debts. A breakdown of the N1.1trillion revealed that the 51 insurance and reinsurance companies certified by the National Insurance Commission (NAICOM) wrote of N465 billion in 2007, N356 billion in 2008 and N282 billion by September 2009 amounting to N1.103trillionRead More
The National Insurance Commission (NAICOM) has said that it will not hesitate to take stance measure against any insuranceRead More
Insurance Consumers Association of Nigeria (ICAN) has assured insurance buyers that the association will at all time protect their interest for as long as their complaints are genuine.Read More