Shares of Nigerian energy firm Oando surged 10 percent on Monday after it said it had ended a long wait to secure funds to acquire the upstream oil and gas business of ConocoPhillips in Nigeria. Oando shares, which dropped nearly 30 percent last week, rose 1.86 naira to 21.11 naira […]
Author: InvestAdvocate
Flour Mills of Nigeria Q3 Profit Drop by -27.4%
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Flour Mills of Nigeria Plc Monday said its profit after tax (PAT) dropped by -27.4 percent (-27.4%) in its third quarter (Q3) report for the period ended December 31, 2013. To record the drop in profit, the company in its Q3 of 2012 declared […]
Can Nigerian banks overcome the CRR headwind? A macro perspective
The negative sentiment surrounding the banking sector was further heightened following the recent increase in the public sector CRR from 50% to 75%. Nigerian banks are indeed facing the challenge of tougher regulation on CRR and banks have continued to weigh the impact of high public sector CRR on revenue […]
