Naira recovers to N405/$1 after Monetary Policy Committee decisions

The Nigerian naira dramatically recovered on Wednesday to 405 per dollar, less than 24 hours after the Central Bank of Nigeria (CBN) monetary policy committee (MPC) meeting. In Abuja, the naira is currently trading between 405 to 410 per dollar, while the British pound is going for 520/523 — all at ... [More]

Equities Slide By 0.17% On The Exchange

The equities segment of the Nigerian Stock Exchange closed negative on Wednesday when major market mirrors, the All Share Index and market capitalisation depreciated by 0.17 per cent each. The All Share Index closed at 25,514.09 points after it went down astonishingly by 44.46 basis points or 0.17 p... [More]

Zenith Bank Shareholders Endorse N100bn Fresh Capital Through Public Offer

The shareholders of Zenith International Bank Plc, on Wednesday endorsed the board and management to raise additional capital of N100billion by way of public offering. The approval was made known at the bank’s 26th Annual General Meeting(AGM) held yesterday, in Lagos. The shareholders added that the... [More]

Lafarge Proposes 105 Kobo Per Share Dividend … ‘Plants Operating At Optimal Level In Ewekoro , Sagamu’

Lafarge Africa Plc, has proposed a dividend of 105 kobo, for approval at the annual general meeting scheduled for June 7th 2017. As contained in its 2016 financial year report, the company has progressed with its turnaround plan as its plants are operating at optimal levels, with a significant incre... [More]

Kaduna Airport’s Landing Facility Dependable- NAMA

Capt. Fola Akinkuotu , Managing Director of the Nigerian Airspace Management Agency (NAMA), has commended the performance of the newly installed and calibrated Instrument Landing System (ILS) as well as other navigational aids at Kaduna Airport. Akinkuotu described the facilities as highly sophistic... [More]

Sahara Group To Raise $1.4b From NSE, LSE

Sahara Group, a Nigerian energy company, which trades crude oil and owns Nigeria’s biggest power plant, has said it plans to raise as much as $1.4 billion through a dual listing of its oil and gas unit in London Stock Exchange and Nigerian Stock Exchange along with a debut dollar bond sale. Executiv... [More]

Analysts Differ On Ranking Of Lagos Among Least Liveable Cities

By Nkasiobi Oluikpe, Lagos Not too long ago, the Economist Intelligence Unit (EIU), an independent business within The Economist Group, recently in its Quality-of-Life-Index, rated Lagos among the least liveable cities in the world, ranking side by side with cities like Damascus of Syria and Tripoli... [More]

CBN Directs Banks To Use e-Dividend Portal

By Sola Alabadan, Lagos The Central Bank of Nigeria (CBN) has directed all deposit money banks to use the e-dividend management system portal developed by the apex bank in collaboration with the Securities and Exchange Commission (SEC) and other relevant stakeholders. This directive was contained i... [More]

Decent Parking Lot: Zenith Multi-Storey Car Park Example

Stories by Nkasiobi Oluikpe, Lagos Parking nuisance in most metropolis in Nigeria, especially Lagos, for some time, appears to be beyond the authorities. Shopping malls, event centres, offices with limited parking spaces are all culpable. INL once published the names of some of the organizations, ... [More]

Electricity Tariff: Lawyer Begins Committal Application Against NERC Chairman

By Tunde Opeseitan, Lagos A lawyer and activist, Toluwani Adebiyi has initiated contempt proceedings against the Chairman of Nigerian Electricity Regulatory Commission (NERC), Dr Sam Amadi over his claim that judges were frustrating reforms in the electricity sector. The NERC chairman had made the c... [More]

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