UPDATE 1: APC endorses Buhari for second term, as Moghalu declares

The national executive committee of Nigeria’s ruling party the All Progressives Congress (APC) has endorsed President Muhammadu Buhari to seek a second term in an election next year, two senior party sources told Reuters on Wednesday. Meanwhile, Kingsley Moghalu, former deputy governor of the Central Bank of Nigeria has declared his intention to run for… View Article

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Seplat shares to get boost from strong Q4 results say analysts

Nigeria’s SEPLAT Petroleum company today announced strong fourth quarter results for 2017 with many analysts now raising their forecasts for the performance of the company in 2018. Seplat’s sales came in at US$174m, up 318% y/y while profit before tax, PBT of US$46m compares with a loss before tax of -US$85m in Q4 2016. It is… View Article

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Junior Achievement Nigeria hosts 50 youth to her annual venture in management program 2018 edition

“One of the best things about the Venture in Management Program is the opportunity it provides for participants to network with their peers, facilitators, and business executives they come in contact with; ViMP is a great platform that helps participants kick start their career” These were the words of Chienye Ogwo, ViMP alumni and CEO… View Article

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Low investor response: SEC moves to extend free e-dividend registration

Strong indications emerged on Monday that the Securities and Exchange Commission (SEC) would likely extend its free e-dividend registration for the third time. This is due to low investor response as the Feb. 28 deadline draws close. A source who pleaded anonymity told the News Agency of the Nigeria (NAN) in Lagos that the commission… View Article

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Low investor response: SEC moves to extend free e-dividend registration

Strong indications emerged on Monday that the Securities and Exchange Commission (SEC) would likely extend its free e-dividend registration for the third time. This is due to low investor response as the Feb. 28 deadline draws close. A source who pleaded anonymity told the News Agency of the Nigeria (NAN) in Lagos that the commission… View Article

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FG gets $486m World Bank support to improve power and transmission infrastructure

The World Bank has approved an International Development Association (IDA) Credit and an IDA Scale Up Facility Credit in the total amount of $486 million equivalent for rehabilitation and upgrading of electricity transmission substations and lines. The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and… View Article

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Updated: Nigeria prices $2.5billion dual tranche Eurobond: Receives an order book size of over $11.5billion

Nigeria, today announced that it has priced its offering of US$2.5 billion aggregate principal amount of dual series notes (the “Notes”) under its Global Medium Term Note Programme, according to a statement from the Federal Ministry of Finance.   The Notes comprise a US$1.25 billion 12-year series and a US$1.25 billion 20-year series. The 12-year… View Article

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Nigeria today raising fresh $2.5bn eurobond

Nigeria is today in the market raising a fresh $2.5bn in eurobond financing according to officials close to the transaction. It is part of the effort of Africa’s largest economy to cut its debt service burden by reducing the component of its domestic debt through a cheaper eurobond option. Nigeria which exited a debilitating economic… View Article

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Breaking News: Jacob Zuma resigns as South African President

Jacob Zuma has quit as President of South Africa, finally succumbing to a slew of corruption scandals that have drained support from his ruling African National Congress party. “No life should be lost in my name and also the ANC should never be divided in my name,” he said during a nationally televised political address… View Article

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Breaking News: Jacob Zuma resigns as South African President

Jacob Zuma has quit as President of South Africa, finally succumbing to a slew of corruption scandals that have drained support from his ruling African National Congress party. “No life should be lost in my name and also the ANC should never be divided in my name,” he said during a nationally televised political address… View Article

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