FG moves to appeal judgement on $9 billion Nigerian assets forfeiture
The Federal Government of Nigeria (FGN) has declared its preparedness to appeal Friday’s judgment delivered by an English court in favour of Process and Industrial Development Limited (P&ID). The court gave the company an order to seize Nigerian assets worth $9 billion. Click here for more.
Buhari campaigner, 35 others get crude-for-fuel contracts
The Nigerian National Petroleum Corporation has awarded its 2019/2020 contracts for the exchange of crude oil for imported petroleum products to 15 consortiums/companies, including Casiva Limited, whose Chairman, Alhaji Nasiru Danu, was the Director of Logistics for the Buhari Campaign Organisation. Click here for more.
Ekweremadu Dragged, Assaulted in Germany
Nigeria’s former Deputy Senate President, Ike Ekweremadu, was on Saturday physically attacked by a mob while attending a cultural event in Germany. Mr Ekweremadu, who confirmed the attack in a statement, said the attackers were members of the Indigenous Peoples of Biafra (IPOB), a South-East secessionist group. Click here for more.
We’re committed to solving electricity distribution – Discos
Electricity distribution companies on Sunday said that they were committed to resolving challenges in the power sector in the country. Speaking under the aegis of the Association of Nigerian Electricity Distributors, the Discos stated that they were committed to solving the challenges affecting retail electricity distribution across the country. Click here for more.
Investors Lose N157.72bn WoW As NSEASI Dips By -1.17% To Close The Week Negative
Equities market closed Friday on a negative note, as NSEASI depreciated by -0.43% to close at 27,306.81 points as against +0.05% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.12%. Click here for more.
Governor Fayemi explores investment options with the capital market
The Ekiti State Governor and Chairman of the Nigeria Governors Forum, Dr Kayode Fayemi, was at the Nigerian Stock Exchange (NSE), yesterday, to present the Facts Behind Ekiti State’s economy. He also used the occasion to ring the NSE’s closing bell at the end of the day’s trading session. Click here for more.
NAICOM Gets New Ag. Commissioner for Insurance
The federal government has approved the appointment of Sunday Thomas as the Acting Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM). Click here for more.
GTBank reports 3.7% increase in profit after tax in H1 2019
Guaranty Trust Bank Plc has experienced a 2% decrease in its gross earnings for the half-year period ended June 30th, 2019. This was disclosed in the bank’s H1 2019 financial statements published on the website of the Nigerian Stock Exchange. Gross Earnings. Click here for more.
Linkage Assurance nets N573m in half-year report
Linkage Assurance Plc has recorded a 16 per cent growth in Profit After Tax (PAT) for the half-year unaudited financial statement ended June 30, 2019. The figure rose from N439.77 million in the half year period of 2018 to N572.76 million in the same period in 2019. Click here for more.
A $1.6 Billion Horror as Ghana Investors Can’t Get Their Savings
Isaac and Bless Boahen saved for months to fund her economics doctorate, but when the time came to cash in the investment, they were left empty handed. The couple are among at least 70,000 investors who have become collateral damage from a cleanup of Ghana’s banking industry. Click here for more.
Trump Says U.S. Is Talking With China but Not Ready for a Deal
President Donald Trump said the U.S. is “doing very well with China, and talking!” but suggested he wasn’t ready to sign a trade deal, hours after his top economic adviser laid out a potential timeline for the resumption of substantive discussions with Beijing. Click here for more.