Business

Nigerian government opens bid round for 31 marginal oil fields

The government encouraged local oil firms to present joint bids. The Nigerian government on Thursday opened the process for second bid round that would involve the auction of 31 marginal oil fields. The Minister of Petroleum Resources, Diezani Alison-Madueke, said in Abuja that 16 of oil blocks were located onshore, while the other 15 were […]

Lagos floats N87.5 billion bond to finance infrastructural projects

The Lagos governor listed some of the projects the money would be used for.

NSE returns to year high as analysts express optimism on Nigeria’s equities

Nigerian equities are expected to be up in 2014.

Nigeria Stock Exchange

Nigerian Stock Exchange Report Monday, 25 November, 2013: WAPCO tops losers chart

WAPCO topped the losers chart after Monday’s trading on the Nigerian Stock Exchange with a N5.54 share price loss. The firm’s share price closed at N105.26 down from N110.80. The firm was followed by Nestle, which lost N3.00, closing at N197.00 down from N1200.00 before transactions. UACN lost N0.65 and closed at N66.35 down from […]

CBN

NACCIMA decries Central Bank’s year-long retention of 12% MPR

The NACCIMA also criticised the Nigerian government’s fertiliser policy.

BPE confirms privatisation of Nigeria’s refineries in 2014

Quality investors, irrespective of nationality, to be considered

Nigeria Stock Exchange

Fashola wants Nigerian Stock exchange renamed after Lagos

The exchange was formerly called Lagos Stock Exchange

Nigeria Stock Exchange moves 1.16 billion shares worth N7.92 billion

Guinness leads gainers chart, Total records highest loss

NDIC worried over unclaimed deposits by 48 liquidated banks customers ‬

The corporation has already paid billions to depositors of failed banks. The Nigeria Deposit Insurance Corporation (NDIC) said on Thursday that several customers in the 48 banks liquidated in December 2012 were yet to come forward to collect their deposits.‬ ‪The Managing Director of NDIC, Umaru Ibrahim, said in Benin at a program organised to […]

Ajaokuta Steel: Lawmakers want Nigeria to source N156 billion revival fund

The lawmakers accused the federal government of abandoning the project. A member of the Senate Committee on Power, Steel Development and Metallurgy, Nurudeen Abatemi-Usman (PDP- Kogi) has asked the Federal Government to source for $1billion (about N156billion) to revamp the comatose Ajaokuta Steel Complex.‬ ‪Mr. Abatemi-Usman told the Minister of Mines and Steel Development, Musa […]

Analysts expect modest multiple expansion in equities, tighter monetary stance in 2014

FBN held its 3rd annual investor conference in Lagos

Nigeria Stock Exchange

Nigerian Stock Exchange report Wednesday, 20 November 2013

The volume of shares traded on the Nigerian Stock Exchange halved to 328.99 million after trading from 786.39 million recorded after Tuesday’s trading. The shares were traded in 4, 625 deals valued at N3, 708 billion, down from N4, 853 billion, recorded on Tuesday. The Exchange’s All Share Index (ASI) rose to 38, 815.64 after the […]

CBN

Central Bank, ICPC, seek amendment to Dishonoured Cheques Act

The CBN said the contents of the Act are outdated.

Nigeria secures N16 billion loan from Indian Bank

The loan would be distributed to three states.

Nigeria Stock Exchange

Nigerian Stock Exchange report Tuesday, 19 November 2013: Nestle tops gainers chart again

Nestle topped gainers chart again, after Tuesday’s transaction on the Nigerian stock exchange trading floor, gaining almost N25.00 to its opening share price at the start of trading. The firm, which topped the gainers charton Monday, gained N21.22 as its share price rose from N1178.78 to N1200.00. It was followed by Dangote Cement, which gained […]

Investor forums crucial for growth of Nigeria’s economy – FBN Capital

Okonjo-Iweala said Nigeria had saved N120 billion by eliminating ghost workers.

Amaechi lied about Excess Crude Account, Rivers loan, Okonjo-Iweala says

Minister says she acts based on professionalism and equity.

Jonathan to meet International Investors’ Council in London

The president will be accompanied by some ministers.

Nigeria attracts N205 billion investment to retail sector in two years – Minister

The minister said Nigeria was a promising market for retail trade. Nigeria attracted over N205.4 billion worth of fresh investments into her retail sector in the last two years, the Minister of Industry, Trade and Investment, Olusegun Aganga, has said. The minister, who was speaking at the inauguration of the Retail Council of Nigeria in […]

Nigeria Stock Exchange

Nigerian Stock Exchange report Monday, 18 November 2013: Nestle tops gainers chart

Nestle topped gainers chart after Monday’s transaction on the Nigerian stock exchange trading floor, gaining almost N50 to its opening share price at the start of trading. The firm gained N49.78 as its share price rose from N1129.00 to N1178. It was followed by Guinness, which gained N5.01 closing at N235.01 up from N230.00. Mobil […]

FIRS quizzes Jimoh Ibrahim for alleged tax evasion

The FIRS said Mr. Ibrahim was not arrested.

Nigeria to create 150,000 jobs through NEDEP

Government processing business plans by Micro, Small and Medium Enterprises, MSMEs cooperatives

Nigeria’s domestic bond market capitalisation hits N5.65billion

There have been increasing interest in the bond market

Nigeria Stock Exchange

NSE market capitalisation up by N50 billion on Friday‬

LafargeWapco tops gainers chart

FAAC reneges on augmentation agreement, draws from depleted Excess Crude Account

The money was released because of reduced funds available for sharing.