Some 1.14 billion shares of Stanbic IBTC Holding were sold at 53.75 naira each the stock exchange said on Friday in a block deal valued at about $195 million. The deal was negotiated trade between seller Rencap Securities Ltd and buyer Stanbic IBTC Stockbrokers Ltd. Stanbic IBTC Holding’s shares closed at 46.60 naira. Stanbic IBTC […]
Author: Isaac Umunna
Nigeria’s IPO market shows signs of life after drought
More companies are lining up to list on the Lagos stock exchange, kick starting Nigeria’s IPO market after a long drought. Sources familiar with matter said two companies – Skyway Aviation Handling Company (SAHCOL) and Nigerian Reinsurance Corporation – were preparing for initial public offerings this year, while Singapore-owned Indorama Eleme Petrochemicals Ltd planned a […]
12 African migrants killed by human traffickers in Libya-UNHCR
The United Nations says more than 12 African migrants were shot dead by human traffickers while attempting to escape a camp in Libya, where some were subjected to “torture” and “abuse and exploitation”. “Human traffickers in Libya reportedly killed more than a dozen people and wounded many others after a group of some 200 Eritreans, […]
41 million migrants linked to Africa -UNCTAD
There were about 41 million people counted as international migrants either coming from, going to or moving within Africa, said a United Nations Conference on Trade and Development (UNCTAD) 2018 report on migration unveiled on Thursday in the Ethiopian capital, Addis Ababa. While some 19 million resided in Africa, 17 million left the continent while […]
N2.6bn fraud: Appeal court sets free ex-NIMASA DG
The Court of Appeal Lagos, on Friday, discharged and acquitted a former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Patrick Akpobolokemi, who was charged with alleged N2.6 billion fraud. Others charged alongside Akpobolokemi were Ezekiel Agaba, Ekene Nwakuche, Governor Juan, Blockz and Stonz Ltd and Al-Kenzo Logistics Ltd. In a lead judgment […]
Oil prices spreading apart, mirroring global rifts
Benchmark indices for oil were in a wide spread Thursday as U.S. oil inventories swell and global economic pressures intensify on the back of tariff concerns. U.S. President Donald Trump is widely expected to follow through with a decision to impose tariffs on steel and aluminum imports from Canada, Mexico and the European Union, among […]
Nigeria bushmeat industry rebounds after Ebola outbreak
There is a steady flow of customers, the dirt car park is filled with vehicles, and the stalls at Oluwo market in Epe outside Lagos city are full. The market is one of the biggest in this West African country where bushmeat is sold. The mood is festive and everyone from traders to customers appears […]
Barclays Africa to join Nigeria’s bourse in July -head of markets
Barclays Africa plans to join the Nigerian Stock Exchange in July and is exploring opportunities in three other African countries, in a move to create access for foreign investors looking to tap into markets on the continent. Garth Klintworth, head of markets for Barclays Africa Group, on Thursday said its subsidiary Absa Nigeria had acquired […]
Victor Moses joins Nigeria after second honeymoon
Victor Moses joined up with the Nigeria squad on Thursday after taking some time off to celebrate a second honeymoon following his FA Cup final win with Chelsea. The forward arrived at the team’s Wembley Hilton hotel hours before the rest of the squad touched down from Nigeria. Super Eagles coach Gernot Rohr told KweséESPN […]