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Prsestige Assurance and Niger Insurance Declare 2007 Full Year Results 12.06.2008
Presitge Assurance
The company recorded significant improvement in 2007 over the preceding year, with profit after tax rising by 56.61%. The company has proposed a dividend of 20 kobo per share, as well as a bonus of 1 for 4. Read more...
Intercontinental Bank Plc Declares Full Year Audited Results 11.06.2008
The just-released results of Intercontinental Bank Plc show impressive numbers in various performance parameters.Read more...
World Bank Okays N45b for Nigerian Roads 10.06.2008
THE World Bank has approved $390 million (N45 billion) credit facility to support the Federal Government's road sector reform programme.Read more...
CBN: No Plans to Stop Margin Loans 10.06.2008
The Central Bank Governor, Prof. Chukwuma Solodu, has said the apex bank did not stop banks from giving “margin loans” to customers to acquire shares in the nation’s stock market, contrary to the rumour currently creating worries in the financial sector.Read more...
SEC, NSE, CBN, Others Review Margin Trading 09.06.2008
APPARENTLY worried by the continuous drop in share prices of quoted companies on the Nigerian Stock Exchange (NSE), the Securities and Exchange Commission (SEC) has constituted a committee charged with the responsibility of working out modalities for investing with margin funds by stockbroking firms and investors.Read more...
Multi-Trex Private Placement Takes Off 02.06.2008
Multi-Trex Investments Limited, which launched its offer last week Friday, witnessed a surprising level of response from investors when 80 percent of the private placement was quickly snapped up. Read more...
Nigeria's eTranzact Partners US firm on Mobile/web e-Commerce Payment Solution 03.06.2008
LFR Communications Incorporated of the United States of America, the provider of hybrid mobile/web payment network for the emerging economies (VTN), has gone into alliance with eTranzact to allow merchants in Nigeria process payments online or through GSM phones securely. Read more...
Nigerian Breweries Expand Operations, Sustains Market Leadership 29.05.2008
Nigerian Breweries plc has embarked on an aggressive expansion plan designed to strengthen its current market position and to support the Federal Government’s vision of promoting investment in the country.Kola Jamodu, the Company’s Chairman, disclosed this to shareholders at the Company’s 62nd Annual General Meeting held in Lagos recently. The multi-million naira investments include the new malting plant in Aba, new bottling line for Fayrouz in Ibadan, new brewhouses in Lagos and Kaduna and new bottling line in Aba. Read more...
Continental Reinsurance PLC Q1 Results Show Impressive Growth
Continental Re, a leading reinsurance company in Nigeria, has released its first quarter results for the 2008 financial year. The Q1 results to March 31, 2008 showed an impressive growth in gross premium income as well as profit before and after tax. Read more...
Nigerian Stock Exchange Lists Fidson Healthcare Shares 05.06.2008
NIGERIAN Stock Exchange's (NSE) healthcare sub-sector yesterday played host to Fidson Healthcare Plc, as the company listed by introduction its entire 1.5 billion ordinary shares of 50 kobo each at N7.50 per share.Read more...
Regency Alliance Insurance Gets Listed on the Stock Exchange 27.05.2008
Nigerian insurance company, Regency Alliance Insurance, today had its shares listed on the Nigerian Stock Exchange by introduction. That makes the company a public company and gives interested Nigerians and foreigners the opportunity to buy into the company on the floor of the Exchange.Read more...
Presco Plc's 2007 Full Year Results: Shareholders Get 1 for 1 Bonus
Presco's full year results to December 31, 2008, just released, reflect a difficult operating year. The 7.7% marginal growth in turnover, over the previous year, would not be considered very impressive, but even that growth was not extended to profit before tax which declined by a wide margin of 18%. A huge tax provision did not help matters, dipping the profit figure even further.Read more...
Ecobank Plans to Raise $3 Billion New Capital 25.05.2008
Shareholders of Ecobank Transnational Incorporated (ETI) has given its directors authority to raise $3 billion (N348 billion) to boost the working capital of the group.
The shareholders at the bank’s Annual General Meeting (AGM) held last Friday in Accra, Ghana gave the approval for the directors to raise the $3.0 billion in equity, debt quasi equity, Global Depository Receipts (GDR) or a combination of any or all of these forms of capital.Read more...
Stock Market Report, May 13, 2008 14.05.2008
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.Read more...
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