Nigerian Stock Exchange Daily Market Review 13.05.2008

Trading on the Nigerian Stock Exchange ended weaker today as the market broad numbers pointed downwards. The powerful recovery of the past weak had slowed downed on Monday, but today, the scales tilted and the numbers went negative again. The All-share index went down 0.1%, closing 62,463.66. Read more...

Major Changes at UBA, New Structure Unveiled 13.05.2008

The Board of Directors of United Bank for Africa (UBA) Plc has approved a major repositioning “to fully enable the bank realise the next phase of its strategic growth and global expansion”, a statement from the bank yesterday said. Read more...

Public Offer: CBN, SEC Meet Next Week 08.05.2008

Following complaints by subscribers who participated in the public offers embarked upon by banks in the country and their inability to access their share certificates, months after the exercise had been concluded, the Central Bank of Nigeria [CBN] and Securities and Exchange Commission (SEC) will meet next week to sort out the problem. Read more...

Stock Market Slowly Recovers, Gains N23bn 06.05.2008

FThere were sighs of relief yesterday that the end to the “self-correction” of the Nigerian Stock Exch-ange (NSE) is near as trading at the stock market closed on a positive note. Read more...

Afribank Records N12.2 Billion Post Tax Profit 30.04.2008

FOR shareholders of Afribank Nigeria Plc, returns on investment may be better in the financial year ended March 31, 2008, going by the figures released by the bank's group managing director, Mr. Sebastine Adigwe, at the Nigerian Stock Exchange (NSE), yesterday.Read more...

Ecobank, Sterling Bank Discontinue Merger Talks 30.04.2008

THE proposed merger between Ecobank Nigeria Plc and Sterling Bank Nigeria Limited may have been discontinued as the two institutions did not foreclose re-opening of talks in future, on business combination agenda.Read more...

Lucky Fibres Set to Raise Funds from the Capital Market 30.04.2008

Lucky Fibres (Nigeria) Limited, producers of the Nobel brands of carpets and rugs, has announced its plans to raise funds from the Nigerian capital market, through an Initial Public Offer (IPO) that is scheduled to commence before the third quarter of the year 2008.Read more...

Nigeria's Reltel Wireless to Raise N30bn in Private Placement 28.04.2008

Reltel Wireless, one of the CDMA operators in Nigeria, has said it is set to give Nigerians an opportunity to be part of good things happening in the country’s telecom sector as it plans to raise N30 billion through private placement.Read more...

NSE Issues New Rules on Share Price Movement 26.04.2008

The Nigerian Stock Exchange (NSE) yesterday announced some measures aimed at checking arbitrary movement in the prices of shares in the stock market. The prices of many stocks, including dormant companies, have witnessed unprecedented appreciation in recent months, raising fears of a possible crash.Read more...

Transcorp Investors to Get Dividends Next Year 24.04.2008

INVESTORS in the Initial Public Officer (IPO) of Transnational Corporation Nigeria Plc (Transcorp) may be paid their first dividend next year, according to Mr. Patrick Okigbo, the Chief Finance Officer of the company.Read more...

CBN Harmonises Cheque Clearing Cycles, Shortens Upcountry 25.04.2008

Effective from May 5, 2008, the banking public that have had to wait for four working days to get their “up-country” cheques cleared can now heave a sigh of relief.

The Central Bank of Nigeria (CBN) has harmonised both up-country and local payment instruments to three working days. Specifically, this means that the dichotomy between up-country (cheques emanating from one state to the other) and local payment instruments would cease to exist as value would be given to both up-country and local payments within three working days.Read more...

Central Bank of Nigeria to Sell N40.91 Billion Treasury Bills 22.04.2008

The Central Bank of Nigeria is set to sell treasury bills worth N40.91 billion in all, come this Thursday. The bills are in two tranches of N5.11 billion 91-day and N35.79 billion 182-day bills, according to the CBN's circular on the proposed auction, released today.Read more...

IMF Forecasts 9% Growth for Nigeria 13.03.2008

The International Mon-etary Fund (IMF) yesterday forecast nine per cent economic growth and single digit inflation for Nigeria in its newly released Regional Econ-omic Outlook for sub-Saharan Africa. Deputy Director, African Department of the IMF, Mr. Saul Lizondo at a press briefing on the Regional Outlook expressed optimism that the nation’s economy would rebound. Read more...

CBN Stops Funding of Margin Trading by Banks 10.04.2008

Financial sector regulatory authorities, the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC), have directed banks to stop the extension of loans to stockbroking firms following increasing suspicion of insider dealings at the Nigerian Stock Exchange (NSE). The directive which was issued by the regulators recently is a reflection of the central bank's continuous monitoring exercise which aims to sustain the stability of both the banking sector and the capital market. Read more...

Visit Our Business Events Board»

Post Your Business Event on Our Board»

Back to top