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Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has announced that she will be running for a second term in office. Lagarde made this disclosure in an interview in France on Friday. According to her; “I had the honor to receive endorsements as soon as nominations openedIf member countries of the institution as […]

FBNH has finally completed the sale of FBN Microfinance Bank  to Letshego Holdings a Botswana based Financial Institution The Bank announced last December that it has applied for SEC approval for the deal The company has obtained board approval to dispose of the unit in 2014 and scheduled June 2015 for effective sale FBN Microfinance Bank […]

The Central Bank of Nigeria (CBN) has reintroduced C.O.T charges for commercial banks just weeks after implementing the no C.O.T charge rule in 2016. The Bank in a circular titled “Introduction of Negotiable Current Account Maintenance Fee” . According to the CBN, banks can now charge what it termed a “negotiable current account maintenance fee […]Read More

The NSE All-Share Index and Market Capitalization appreciated by 1.33% to close the week at 23,826.50and N8.194 trillion respectively. Similarly, all other Indices finished higher during the week, with the exception of the NSE InsuranceIndex,NSE Oil and Gas, NSE Lotus II and NSE Industrial Goods Index that declined by -0.23%,-5.19%,-2.66% and -3.52% respectively, while NSE […]Read More

Seplat Petroleum Development Company Plc, a leading indigenous Nigerian oil and gas exploration and productioncompany with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange and Nigerian Stock Exchange has released its trading statement and operations update. Here are the highlights of the report; 1) Full year 2015 working […]

In support of the Federal Government’s auto policy, a Chinese firm, has joined the list of foreign companies that have established automobile assembly plant in Nigeria. Perfection Motors Company Limited (a member of Lee Group) and FAW, China, have set up a Semi-Knock Down (SKD) auto assembly in Ikeja, the commercial capital of Lagos. General […]

The Petroleum Product Pricing Regulatory Agency has removed subsidy on Kerosene. This PPPRA in its website released a new template that puts the retail price of Kerosene at N83 per litre. The template was also only meant for the NNPC suggesting that they expect independent marketers to sell at their own established open market price. […]

I got a lot of stick from accountants from the last article I wrote so I start by tendering an apology I did not intend to belittle the noble profession. In addition, some feedback about too technical writing so I’ll try to keep this piece simple. As with everything these days, the talk is around […]

Leading Investment Banking Firm and Fund Managers, Renaissance Capital has issued a buy or sell report in anticipating of a devaluation of the naira by about 20%. The Investment firm in its report titled “Nigerian banks Navigating stormy seas” reviewed 10 commercial banks based on their capital, expected dividend payout, exposure to oil and other […]

The Nigerian economy is in turmoil and businesses are expected to record revenue declines and losses when they declare their results in the next few weeks. One of the key indicators in determining which businesses is experiencing financial difficulty is looking at their inventory. Companies make money when they sell products and services and for […]

My good friend Gbubemi Atiomo is usually very pensive. Not used to chicanery and hardly impressed. I have known him for a while and respect his approach especially his love for FAPE. FAPE for the uninitiated is a mixed grill made up of yogurt and assorted fruits. For Gbubemi it is a brew for weight […]

Chart 1: Portfolio transactions 2007-2015NSE – 2007-2015Nairametrics Research In 2012 the Nigerian stock exchange put up a bold statement challenging itself that the market capitalization of the exchange will hit $1 trillion by 2016. When this statement was made, Nigerian stocks were experiencing a revival that will eventually grow the market cap of the exchange […]