European stocks rise on ECB stimulus talk

  • By Punch
  • 23. October 2015 05:31
  • 0
Europe’s main stock markets rose and the euro slumped on Thursday after the European Central Bank said it would review its monetary policy stance in December, raising expectations of more economic stimulus in the Eurozone, the AFP reported. “The degree of monetary policy accommodation will need to b... [More]

Market cap dips by N60bn

  • By Punch
  • 23. October 2015 05:31
  • 0
The volatility in the stock market continued on Thursday as selling pressure outweighed bargain hunting, leading equities and indices lower. At the close of trading, the market capitalisation of the listed equities on the Nigerian Stock Exchange fell by N60bn or 0.58 per cent to N10.319tn. The stock... [More]

Guinness Nigeria suffers 76% profit decline

  • By Punch
  • 23. October 2015 05:31
  • 0
Guinness Nigeria Plc has reported a 76 per cent year-on-year drop in the three months ended September 30, 2015. The company’s results for the period, which is the first quarter of its financial year ending on June 30, 2015, showed that its profit after tax fell from N1.485bn in the corresponding per... [More]

SEC, labour unions take investor education to workers

  • By Punch
  • 23. October 2015 05:31
  • 0
The Securities and Exchange Commission says it has in partnership with labour unions in the country started a financial literacy and investor education drive targeted at Nigeria workers. According to the commission, the drive is aimed at enhancing personal financial planning among Nigerians and inst... [More]

SIM registration: MTN cuts off 5.1 million subscribers

  • By Punch
  • 23. October 2015 05:31
  • 0
More than five million MTN subscribers in Nigeria were on Thursday disconnected from the network after the review of their registration documents, thereby cutting the company’s full-year forecast for subscriber numbers. The spokesperson for the MTN Group, Nik Kershaw, said, “MTN, which operates in m... [More]

No plans to sell refineries, JV assets – Osinbajo

  • By Punch
  • 23. October 2015 05:31
  • 0
Vice President Yemi Osinbajo has said the Federal Government is not currently planning to sell the nation’s four refineries or part of its stakes in joint venture assets in the oil and gas sector. The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, was recently re... [More]

91 companies bid for NNPC bunkering services

  • By Punch
  • 23. October 2015 05:31
  • 0
A total of 91 companies have submitted bids to the Nigerian National Petroleum Corporation to secure contracts for the provision of coastal and bunkering vessel services to the national oil firm. According to the corporation, the 91 technical bids are largely from indigenous vessel owners vying to s... [More]

Work begins on 650,000bpd Dangote refinery

  • By Punch
  • 23. October 2015 05:31
  • 0
Work on the 650,000 barrels per day Dangote refinery being constructed at the Lekki Free Trade Zone in Lagos is currently at the sand-filling and soil piling stage, while some portions of the complex are being cleared of vegetation. This stage of construction, the firm said, was not in any form a th... [More]

APBN to honour outstanding professionals

  • By Punch
  • 23. October 2015 05:31
  • 0
As part of its weeklong event to promote professionalism in the country, the Association of Professional Bodies of Nigeria, Lagos State Chapter, is set to celebrate outstanding professionals in the state. This, according to a statement by the association, involves the presentation of awards for prof... [More]

Dollar scarcity: Nigerian banks owe foreign lenders $4bn

  • By Punch
  • 22. October 2015 05:30
  • 0
The Central Bank of Nigeria’s ban on importers of some items from accessing foreign exchange from the official forex market has made it difficult for a number of Nigerian companies to pay their overseas vendors, it has been gathered. The development has made banks in the country, which are the guara... [More]

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