Flour Mills of Nigeria Plc has received an approval in principle from the nation’s chief capital market regulatory body, the Securities and Exchange Commission, to buy Nigerian Bag Manufacturing Company Plc. The company, in a notice to the Nigerian Stock Exchange on Tuesday, said it would recommend to its shareholders […]
Author: InvestAdvocate
UBS trader gets seven years’ jail for $2.3 billion fraud
Former UBS trader Kweku Adoboli was convicted and sentenced to seven years in jail on Tuesday for the biggest fraud in British history, which resulted in a loss of $2.3 billion for the Swiss bank. Ghanaian-born Adoboli, 32, a senior trader on the Exchange Traded Funds (ETFs) desk at UBS’s […]
Nigeria’s GDP grew by 6.48% in Q3 2012-Report
On an aggregate basis, the economy when measured by the Real Gross Domestic Prod-uct (GDP), grew by 6.48 percent in the third quarter of 2012 as against 7.37 percent in the corresponding quarter of 2011. The nominal GDP for the third quarter of 2012 was estimated at 10,967,272.89 million naira […]
