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Come on… stocks are up large… everything must be awesome!! [embedded content] This was S&P and Dow Transports best week of the year… (Dow Industrials best week in 3 months, Nasdaq and Small Caps best week in 4 months) Today’s moves were capped at the European close… Trannies are up 5 weeks in a row […]Read More

The ongoing battle between MTN and the Federal Government over the $3.9 billion fine imposed by the Nigerian Communications Commission (NCC) may soon be resolved according to Reuters. The report suggest the fines will most likely be reduced but did not disclose by how much. MTN had earlier been ordered by the NCC to pay […]

Nigerian stocks ended the week on a positive, as the All Share Index (ASI), was up 0.70% to close at 24,432.51. Consumer goods stocks – NESTLE, TIGER BRANDS, and GLAXOSMITHKLINE lifted the stock market as they ended in gains. ASI: 24,432.51 DEALS: 2,437 VOLUME: 172,393,578.00 VALUE: 925,393,070.55 CAP: 8,402,796,652,783.27 Here are the top gainers for […]Read More

Following the start of price modulation that led to the review of petrol pricing template in January, a new review would likely begin by March 15, according to Mr. Farouk Ahmed, the outgoing Executive Secretary of the Petroleum Products Pricing Regulatory Agency, PPPRA. Thus, the Federal Government’s review of the pricing template for Premium Motor […]

On 25 January 2016, GlaxoSmithKline Consumer Nigeria Plc (GSK Nigeria) received a non-binding offer from Suntory Beverages & Foods Ltd (Suntory) to acquire GSK Nigeria’s drinks business. Although we are cautious on Nigeria – the consumer environment remains challenging as disposable income dwindles and operating costs escalate – we believe the deal could benefit shareholders […]

First Bank of Nigeria Limited led the list of commercial banks receiving foreign exchange from the Central Bank of Nigeria (CBN) in the latest published returns. The bank led others  with a total returns of $25,701,921.17. Commercial banks have been publishing weekly returns of dollar receipts from the CBN and its utilization. In the second […]

MTN Group has issued a profit warning informing investors that they expect its full year profits to drop by about 20%. The telecoms giant claims its profits was severely affected due to “under performance in Nigeria” its largest market. MTN in 2014 reported that its revenue growth of 6,4% in the year was largely the result […]Read More

Lagos State Governor, Akinwunmi Ambode, has revealed that the state will establish a microfinance bank to help artisans and small business operators, while also confirming that plans for setting up the bank had been concluded. This was disclosed n a meeting with members of the business community at the 5th edition of the Lagos Corporate […]

Auditor- General of the Federation (AGF), Samuel Ukura, Thursday, revealed to the senate committee investigating the irregularities in the 2016 appropriation bill, that the budget was not zero-based. The 2016 Budget left Nigerians on a head trip when figures beyond human comprehension was seen on it. From Budgeting rent for offices at the Presidential Villa […]

Ashaka Cement has notified the Nigerian Stock Exchange (NSE) of the resignation of Mr. Leonard Palka (Polish), as the Managing Director of the company with effect from 13th April, 2016. Mallam Rabiu Abdullahi Umar (Nigerian) has been appointed as his replacement taking effect from 13th, April 2016. Rabiu Umar is a graduate of Accounting from […]

The currency volatility caused by the devaluation of the naira and a slow growing economy has hit Brewers in Africa largest economy, as latest earning release showed these firms profits fall on the back spiraling cost of production.The latest earning release of three dominant brewers, (Nigerian Breweries Plc, Guinness Nigeria Plc, and International Breweries Plc), […]

There are 60 major stock exchanges throughout the world, and their range of sizes is quite surprising. As Visual Capitalist’s Jeff Desjardin notes, at the high end of the spectrum is the mighty NYSE, representing $18.5 trillion in market capitalization, or about 27% of the total market for global equities. At the lower end? Stock […]