MTN Warns Investors Its Profit Will Drop By 20% Because Of Nigeria
MTN Group has issued a profit warning informing investors that they expect its full year profits to drop by about 20%. The telecoms giant claims its profits was severely affected…
Why Lagos State Is Setting Up A Microfinance Bank
Lagos State Governor, Akinwunmi Ambode, has revealed that the state will establish a microfinance bank to help artisans and small business operators, while also confirming that plans for setting up…
Auditor – General Explains Why The 2016 Budget Is Not Zero Based
Auditor- General of the Federation (AGF), Samuel Ukura, Thursday, revealed to the senate committee investigating the irregularities in the 2016 appropriation bill, that the budget was not zero-based. The 2016…
ANALYSIS: Currency Volatility Hits Brewers Hard As Cost Spikes
The currency volatility caused by the devaluation of the naira and a slow growing economy has hit Brewers in Africa largest economy, as latest earning release showed these firms profits…
This Harvard Product Is The New Managing Director Of Ashaka Cement
Ashaka Cement has notified the Nigerian Stock Exchange (NSE) of the resignation of Mr. Leonard Palka (Polish), as the Managing Director of the company with effect from 13th April, 2016.…
Visualizing The World’s Stock Exchanges
There are 60 major stock exchanges throughout the world, and their range of sizes is quite surprising. As Visual Capitalist’s Jeff Desjardin notes, at the high end of the spectrum…
The “Hillary Vs Bernie” Pitch: Fix ‘Cultural Bigots’ Or ‘Corrupt Billionaires’
Authored by Eric Zuesse, Whereas Bernie Sanders claims to represent the bottom 99%, Hillary Clinton claims to represent a coalition of groups who are victimized by bigots (racists, sexists, etc.:…
Chinese Money-Market Rates Are Spiking As Post-New-Year Liquidity Hangover Hits
It would appear the Chinese central bank currency squeeze is back as money-market rates are exploding higher once again. With the outpuring of liquidity heading into the new-year holiday, the…
Truworths Exits Nigeria Due To Buhari’s Import Ban
Reuters is reporting that South African retailer Truworths has decided to exit Nigeria because of the government’s import restriction policy. The South African retail giant also cited high rental cost…
This Is Why Government Sealed Globacom Offices
One of Nigeria’s leading telecommunication firm, Globacom, has attracted the wrath of the Osun State Internal Revenue Service (OIRS) who have sealed its offices in the state for not paying…