Economy News Extra Investments/Capital Market Latest News

SEC Urges Investors To Update Accounts With Ownership Proofs

The Securities and Exchange Commission, SEC, has urged investors in the nation’s capital market to provide proofs of ownership to facilitate the regularization of their accounts and help curb the increasingly worrisome rate of unclaimed dividends in the market. The Acting Director General of the SEC, Ms Mary Uduk, gave the advice at a One-Day […]

Economy News Extra Investments/Capital Market Latest News Power/Electricity Privatisation & Commerce

Transcorp Plc Wins Afam Power GenCo Bid

Transnational Corporation of Nigeria Plc, (Transcorp Plc) has been named the preferred bidder for Afam Electricity Generation Company (GenCo) in furtherance of government’s efforts to increase electricity generation through private sector investments. Transcorp was successful with its offer of N105.3 billion (about $293 million) for the power plant, which operates a natural-gas fired power plant […]

Economy News Extra Foreign Investments/Capital Market Latest News

UK Targets New Investments In Nigeria, Ghana Others

The United Kingdom is revving up its investment drives in Nigeria and other Africa countries, including Francophone countries, as its planned exit from the European Union (EU) continues to gain traction by the day A statement from the Foreign and Commonwealth Office on Tuesday showed that the Foreign Secretary, Jeremy Hunt, is visiting Francophone Senegal, […]

Banking Economy News Extra Investments/Capital Market Latest News

Shareholders Commend FCMB Board, Mgt On Impressive Performance, Dividend Declaration

Shareholders of FCMB Group Plc have commended the Board, management and staff of the financial institution for recording another impressive performance in 2018 in spite the challenging macroeconomic and regulatory environment. The commendation was given at the 6th Annual General Meeting (AGM) of the Group held on April 26, 2019 in Lagos. At the meeting, […]

Crime & Judiciary Matters Economy News Extra Investments/Capital Market Latest News

Gwarzo regrets roles in contract award abuses at SEC – Panel

The suspended Director General of the Securities and Exchange Commission (SEC), Mallam Mounir Gwarzo, was reported to have regretted his roles that enabled Medusa Limited, a company he and members of his wife’s family owned, to benefit from contract awards at the commission during his tenure. Specifically, he was quoted by the Administrative Panel of […]

Agriculture & Agribusiness Banking Economy News Extra Investments/Capital Market Latest News

Why BoA’s Restructuring Is Imperative – Okoh

The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, has described the planned restructuring of the Bank of Agriculture (BOA) as imperative in order to improve its operating framework and governance structure with a view to enhancing its efficiency. Okoh, who made this remark at the maiden meeting for the […]

Budgeting Economy News Extra Investments/Capital Market Latest News Political Economy Power/Electricity

FEC Approves New $247.3Mn Loan For Infrastructure Devt

Despite concerns by some analysts and the International Monetary Fund (IMF) about Nigeria’s rising debt stock, the Federal Executive Council (FEC) has approved another $247.3 million foreign loan for infrastructure development. Nigeria’s domestic and foreign debt had jumped from N12.12 trillion in 2015 to N24.38 trillion in 2018. Giving a breakdown of the loan based […]

Economy News Extra Investments/Capital Market Latest News Power/Electricity

ABCON Tasks FG On Power Sector Reform Imperatives

The Association of Bureaux De Change Operators of Nigeria (ABCON) has canvassed the need for government to fast-track the implementation of the power sector reform programme as a desirable step towards providing stable electricity for households and businesses in the country. This is even as it called on its member-entities BDCs to adopt the principle […]

Crime & Judiciary Matters Economy News Extra Investments/Capital Market Latest News

Court Discharges, Acquits Gwarzo, Garuba Of Criminal Charge

A High Court of the Federal Capital Territory on Tuesday, discharged and acquitted the suspended Director General of the Security and Exchange Commission, SEC, Mounir Gwarzo. The acquittal followed the dismissal by the court of a five-count charge the Independent and Corrupt Practices and Other Related Commission (ICPC) preferred against him and the Executive Commissioner, […]