Cornerstone Insurance Announces Receipt of Escrowed Recapitalisation Funds 30.11.2007

In what appears to mark the beginning of a new phase of operations for the company and the insurance industry in Nigeria, Cornerstone Insurance Plc yesterday announced the receipt of a substantial part of its recapitalisation funds, escrowed with the Nigerian Central Bank. According to the leading insurance company, it has received N3.8 billion out of a total of N4.3 billion previously held by the Central Bank. Read more...

Impressive 2007 Results for United Bank for Africa (UBA), a leading Nigerian Bank 29.11.2007

As the battle for supremacy in the Nigerian banking sector rages, United Bank for Africa plc has come out with a pace-setting full-year result for its just-ended financial year. It grew profit-before-tax by 115% for it's financial year to September 30, 2007, from N12.9Billion to N29.5 billion. Read more...

e-Banking Rating By Intermac: Zenith, UBA, GTBank and Skye Bank are Front-runners

If your are looking for a bank that offers a satisfying e-banking experience, you would probably have to zero in on the market-leaders just announced by Intermac Consulting, an e-business consulting and research firm. The company has just released its 2007 e-Banking Customer Survey Report which includes a rating of banks on the strength of their e-banking platforms.

Bank PHB Hits the Market with N85 Billion Offer, as Diamond Bank Goes for $500 Million GDR

Nigeria's Bank PHB unveiled its new N85 billion share offer, November 19. The innovative bank is offering 5 billion ordinary shares of 50 kobo each at N17 per share, in an IPO that that will run from November 19 to December 19, 2007.

Fidelity Bank Gets Extention of Share Offer Closing Date

If you wished to buy into the Fidelity Bank share offer but thought you had somehow missed it because you couldn't get it done before the initial closing date, you can now breathe easy. The offer has been extended to November 23, from its initial closing date of November 9, 2007.

Zenith Bank Warms for New Share Offer, Experts Rule Out Investor Fatique
One of the words that could aptly capture the Zenith Bank spirit is "indefatigable". Any observer of the Nigerian financial system will easily concede to the untiring and unwavering drive of the bank. The latest stories about its proposed new share offer only go to reinforce that notion.

IMF Gets New Helmsman, Approves PSI for Senegal
The international Monetary Fund (IMF) has a new helmsman. He is Mr Dominique Strauss-Kahn, former French Finance Minister. Strauss-Kahn assumed work as the new Managing Director of the Fund on Thursday, November 1, 2007.

Afribank Share Offer Finally Opens at Naira 25 Per Share
If you read our recent report on the imminent Afribank share offer, you probably have been counting off the days, waiting for it to hit the market. Now, you need wait no more, because that offer has finally gone live.

Afribank Set to Hit the Market with Share Offer
The much-expected share offer of Afribank Plc, one of Nigeria's oldest banks, looks set to hit the market shortly.

FCMB Share Offer Opens at N14 per Share
If you are looking to buy some growth stocks from the primary market, the just-opened First City Monument Bank (FCMB) share offer might just be a important opportunity to evaluate.

New Stream of Primary Offers to Hit the Market
Intending stock investors who have missed some of the recent share offers in the Nigerian stock market may yet get enough opportunities to do so. More offers are billed for the market.

AP Finally Proves a Point on Value Investing
As AP stoutly shows market strength, powering to a new a price high of N112, it's good to look back to its fairly turbulent recent past and see what lessons it offers on investing.

Nigerian Bond Market to See New Burst of Issues
The not-so-robust Nigerian bond market looks set to see multiple issues soon as various institutions of government have expressed the intention to resort to bonds as a funding vehicle.

CBN Slashes Upcountry Clearing Cycle...
The Central Bank of Nigeria has just announced new measures to further improve the Nigerian payment system: the upcountry payment instruments clearing cycle has been shortened from six to four working days.

First Bank Goes for Record-setting Jumbo Share Offer...
Nigeria's leading bank, First Bank Plc, is in the market with an elephant-sized share offer - a N100 billion hybrid of a rights offer and an offer for subscription, to raise fresh capital.

Cement Company of Northern Nigeria Gears to Shop for N2 Billion too...
Cement manufacturer, CCNN is gearing up to storm the capital market in search of a N2 billion shot in the arm by way of additional capital from its current shareholders.

Transcorp Underpins Repositioning With Leadership Change...
Determined to shrug off it's recent teething problems and stay focused on its vision, Transcorp has recently announced a change of leadership.

Reforming the Capital Market - SEC's Far-reaching Policy Changes Point to New Future....
The Securities and Exchange Commission, apex regulatory authority for the Nigerian capital market has announced policy shifts that promise to significantly impact on the scope and direction of the market.

Dangote Stamps Entrepreneurial Authority, Goes for the Big Haul...
Business mogul, Alhaji Aliko Dangote is set to stamp his entrepreneurial authority more forcefully on the Nigerian business scene as he not only takes one of his companies public via an IPO, but also aims to fully dominate sugar refining in Nigeria.

Neimeth Takes a Hard Punch at Pain, Hopes to Boost Earnings...
Indegenous Pharmaceutical Company, Neimeth is set to introduce a new pain killer that boasts to lead the pack. Hopefully, this will help the company shore up revenue and boost profitability.

Google Votes Vocally for Internet Video With Its Acqusition of YouTube for $1.65 billion...
Internet giant, Google, has shown its faith in the commercial potentials of internet video by acquiring fast-growing online video sharing company, YouTube, for a whopping $1.65 billion, barely 20 months after the latter was set up.

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