News

Guinness Nigeria Plc has denies that it is indebted to Pharma Deko Plc in the stated amount or any amount at all as stated by the pharmaceutical company. According to a statement from Guinness Nigeria Plc which was made available to Financial Edge on Friday, the brewing giant said its solicitors have filed a robust defence to Pharma Deko’s claims …

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United Capital Plc share price witnessed an increase at the close of transactions on Friday as a result of the 50 kobo dividend which the board of directors proposed for the 2016 financial year end. The company share price appreciated by 3.52 percent to close at N3.82 kobo at the close of trading on Friday. According to the audited account …

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Authorized General Distributors of Mercedes-Benz in Nigeria, Weststar Associates, have officially announced the arrival of Mercedes-Benz Atego 1718 Chassis with Usimeca Refuse Collector-Compactor. Produced in the same high-tech factories in South America, Weststar Associates said in a statement during the week that this truck comes at a competitive price without any compromises on Mercedes-Benz renowned values of durability, quality, reliability …

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The Securities and Exchange Commission (SEC) said it had lifted the suspension of Heritage Capital Markets Limited from capital market activities, together with its directors and sponsored individuals. The management of SEC signed the document which cleared the company, while also posting the same on its website. SEC had suspended Heritage Capital Markets and its directors as well as sponsored …

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Amidst wide allegations of unwholesome practices in disbursement of foreign exchange, Central Bank of Nigeria (CBN) has said that it disbursed the sum of $2.83 billion for utilisation in the critical sectors of the economy between December 2016 and January 2017. In a release Thursday by the acting director, corporate communications department, Mr Isaac Okorafor stated that manufacturing, raw material …

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The Nigerian National Petroleum Corporation (NNPC), yesterday disclosed that total export sales of crude oil and gas for the country from January to December 2016 stands at $2,445,451,363. According to a statement from the Group General Manager, Group Public Affairs Division, Ndu Ughamadu, the national oil firm recorded a total export sale of $195.40 million in crude oil and gas …

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The Nigerian National Petroleum Corporation (NNPC) ended the 2016 fiscal year with a trading loss of N197 billion, its monthly operations and financial report for the month of December 2016 has disclosed. According to the report, which was released by the corporation yesterday in Abuja, the NNPC ended all but one of its monthly trading activities in deficits. The only …

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FMDQ OTC Securities Exchange has admitted the quotation of the Sterling Bank PLC ₦2.40 billion Series 1-3 Commercial Paper (CP) Notes (the Sterling Bank CP), under its N100.00 billion CP Programme and the listing of the FCMB Financing SPV PLC ₦5.10 billion 7-year 17.25 per cent Series 3 Fixed Rate Unsecured Bond (the FCMB SPV Bond) under its ₦100.00bn Debt …

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The Managing Director of Med-View Airline, Alhaji Muneer Bankole, has said that by April, this year, the airline will expand its operations to Francophone countries within the West African States. Also, in the next three months, the airline would  be hitting the  market  with an initial public offering (IPO) to enable more investors buy into the company and   raise …

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The attention of the Central Bank of Nigeria (CBN) has been drawn to a media report suggesting that the Office of the Attorney General of the Federation and Minister of Justice has issued a query to the Central Bank of Nigeria (CBN) over issues relating to the sale of foreign exchange. While it is perfectly normal for any agency of …

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