Stanbic IBTC Holdings to raise 24 bln naira in cash call

Stanbic IBTC Holdings plans to raise 24 billion naira ($121 million) in a rights issue once shareholders approve the transaction, the lender said on Wednesday.


Shell declares force majeure on Nigeria’s Forcados crude exports

Shell has declared force majeure on exports of Nigeria’s Forcados crude oil stream, a spokesman for the company said on Wednesday.

Patricia Akwashiki

FG approves policy on renewable energy, efficiency

The Federal Executive Council on Wednesday approved the draft of National Policy on Renewable Energy and Energy Efficiency for the country.


PDP heading for self destruction – Mark

Senate President, David Mark, on Wednesday, raised the alarm that the Peoples Democratic Party may be heading for a final destruction if the infighting among its leaders was not immediately resolved.


Ex-militants sue for sustenance of amnesty programme

The Izon-Ibe Global Policy Network, a group of former militant leaders in the Niger Delta, had appealed to the President-elect, Gen. Muhammadu Buhari, to sustain the amnesty programme offered them. The group argued that the programme had curbed youth restiveness in the region.


Okorocha faults Imo monarch’s appointment as chancellor

Governor Rochas Okorocha of Imo State has faulted the appointment of Eze Cletus Ilomuayan as the Chancellor of Federal University, Benin Kebbi, by the outgoing President Goodluck Jonathan.


Jonathan marks five years in office with prayer

President Goodluck Jonathan on Wednesday marked five years since he took over the mantle of the nation’s leadership.


Soyinka denies attacking Igbo over election

Professor Wole Soyinka has denied comments attributed to him concerning the voting pattern of the Igbo in the March 28 presidential election.


Users say Apple Watch can cause skin irritation

Complaints of skin irritations caused by the Apple Watch are appearing in online forums and social networking sites.


Mike Adenuga offers $600m to buy off Ivorian mobile phone company

Globacom, a Nigerian mobile telecoms operator owned by Adenuga, is lodging a $600 million takeover bid for Comium Cote d’Ivoire, a company that has been grappling with debt and cash flow problems.


Nigerian Breweries offers N37.205b dividend

The board and management of the Nigerian Breweries Plc will expect the company’s shareholders to approve a dividend of N4.75 per ordinary share of 50 kobo each which translates to N37.205 billion for the 2014 financial year ended December 31, 2014.


Nigeria’s cement per capita consumption remains low, says Dangote

With a yearly cement production across Africa standing at about 30 million metric tonnes, Dangote Cement Plc has stated that Nigeria’s per capita consumption of the commodity remains relatively low compared to Asian and European countries.

Ashaka Cement Plc

AshakaCem shareholders approve 45 kobo dividend

Shareholders of building materials’ major player, Ashaka Cement, yesterday at its 40th Annual General Meeting held in Abuja, approved the dividend of 45 kobo per ordinary share of 50 kobo, which represents an increase of 7.1 percent over the dividend paid in the previous financial year.


Total’s Nigeria unit Q1 pretax profit falls 63.4 pct

Fuel marketer Total Nigeria said on Tuesday its first quarter pre-tax profit fell 63.4 percent to 625.53 million naira ($3.14 million), from 1.71 billion naira same period last year.


NSE index sheds 0.14%

Trading on the floor of The Nigerian Stock Exchange (NSE) remained in the red territories at the close of trading on Tuesday when key market indicators, the All-Share Index and Market Capitalisation, declined by 0.13 percent each.