In the news: Nigerian stocks are world’s best with 12% rise
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Depot and Petroleum Products Marketers Association (DAPPMA) have called for the total deregulation of the downstream sub-sector of the country’s oil and gas industry.
Vitafoam Nigeria Plc has secured a four-year N2billion soft loan from the Bank of Industry (BoI) at concessionary interest rate as part of the company’s strategic move to boost its working capital and sustain competitive edge.
The main equity index in Africa’s biggest economy has surged 12 per cent this year in dollar terms, the most among 96 major bourses tracked by Bloomberg, pushing it to the highest level since 2008.
Bonds worth about N1.60trillion were listed on the trading floor of the FMDQ OTC Securities Exchange in the financial year ended December 31, 2017.
The Revenue Mobilization Allocation and Fiscal Commission has backed the reintroduction of subsidy on petroleum products by the Federal Government through the Nigerian National Petroleum Corporation.
The total debt electricity distribution companies owe operator of the Nigerian electricity market, otherwise known as market operator, has risen to N165.21bn.
The Minister of Finance, Mrs. Kemi Adeosun, has been appointed into the Investments Committee of the United Nations Joint Staff Pension Fund.
As the insurance sector awaits the commencement of Risk Based Supervision, RBS, this year, four insurance companies are in dilemma over N14.8 billion shortfall in their shareholders’ funds, which are far below regulatory requirement.
United Bank for Africa (UBA) Plc has announced its upcoming Board meeting, scheduled for Monday, January 29, 2018, where members of the Board will consider the financial statements for the financial year ended 31 December 2017 and also proposals for final dividend for the period.
A Federal High Court sitting in Lagos has nullified the appointment of an interim board for Emerging Markets Telecommunications Service, EMTS.
More than two-thirds of quoted companies will come under the pricing band of one kobo as the Nigerian Stock Exchange (NSE) is set for the implementation of new pricing rules that will remove the current stop-gap that has supported stocks at their nominal value and allow shares of quoted companies to trade for as low as one kobo.
Authorities at the Nigerian Stock Exchange (NSE) at the weekend slammed a full suspension on the shares of Seven-Up Bottling Company (7-Up) Plc following the bid by the foreign majority shareholder in the soft-drink company, Affelka SA to buy out all minority shareholdings.
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