SEC summons six directors over complaints on N300m investors’ funds
Lagos (Vanguard) — THE Securities and Exchange Commission, SEC, yesterday, directed six directors of Transglobe Investment & Finance Company Limited to appear before it for an alleged unresolved complaints by investors worth more than N300 million against the company . . .
Continue reading “Nigerian Capital Market: SEC Summons 6 Directors Over Complaints On N300m Investors’ Funds”
Power generation hits almost 4,000 megawatts
(SO) Website (NAN) – Transmission Company of Nigeria (TCN) on Wednesday wheeled out about 3,959 megawatts of generated electricity to the 11 distribution companies as the country’s power supply gradually stabilized . . .
Continue reading “Power Supply In Nigeria Stabilizes As TCM Generates 3,959 Megawatts”
Roaming policy may stall telecoms’ growth
Abuja (New Telegraph) — Plans by the Nigerian Communications Commission to implement national roaming service this year may stagnate further growth of the $68 billion investment already recorded in the nation’s telecommunications sector, New Telegraph has gathered . . .
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Oil Prices Hit 18-month High as Markets Eye Production Cuts
OPEC (ThisDay) — Crude oil prices Tuesday, the first trading day of 2017, hit an 18-month high, buoyed by hopes that a deal between the Organisation of Petroleum Exporting Countries (OPEC) and other exporters to cut production, which kicked in on Sunday, will drain a global supply glut . . .
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Stock Exchange Begins 2017 On Negative Trend
Lagos (TheGuardian) — Transactions on the Nigerian equity market resumed on Tuesday for 2017 on a bearish trend with major blue chips recording price depreciation . . .
Continue reading “The Bear Market Hits Nigerian Stock Exchange As 2017 Begins”
Kano (NAN) — The Dangote Tomato Processing Factory in Kadawa, Kura Local Government Area of Kano State is to resume production in February . . .
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Nigerian-born billionaire, founder of Globacom and Chairman of Conoil is richer now, according to FORBES. Michael Adeniyi Agbolade Ishola Adenuga [(Mike Adenuga Jr.) a business mogul, tycoon and the second richest person in Nigeria and Africa, just got richer in 2016 . . .
Continue reading “Africa’s 2nd Richest MAN, Adenuga, Is The Biggest Gainer In Africa: 2016”
Yahoo’s data breaches unlikely to derail Verizon deal
Bloomberg (TheGuardian) The second major hack of Yahoo! Inc. user accounts is unlikely to derail Verizon Communications Inc.’s $4.83 billion acquisition of the tech giant, with investors and the public becoming inured to near-daily disclosures of cyberattacks . . .
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Fears as Naira weakens to N490/$, 590/£
Abuja (Daily Trust) – The Naira on Wednesday weakened to N490 to a dollar at the parallel market after appreciating to N485 to a dollar during the Christmas break . . .
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Dangote Lost $4.9 Billion in 2016
Bloomberg Billionaires’ Index (ThisDay) – The President of Dangote Group and Africa’s richest person, Alhaji Aliko Dangote lost $4.9 billion or one-third of his wealth, as the combined effect of falling oil prices and the naira devaluation in June pushed him to the 112th richest person in the world with a net worth of $10.4 billion, the latest Bloomberg Billionaires’ Index released yesterday has revealed . . .
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