Nigeria’s foreign exchange reserves came close to $40bn on Friday. Specifically, the forex reserves increased by $407m or 1.03 per cent, from $39.351bn recorded on September 4, 2012, to close at $39.758bn on September 6. Also, between August 6 and September 6, the reserves rose by $3.35bn, a development which […]
Author: InvestAdvocate
Former UBS trader faces trial over $2.3 billion losses
A former UBS trader goes on trial in London this week in a case involving losses of $2.3 billion (1.4 billion pounds) that will subject the Swiss bank to an “uncomfortable” examination of its culture and practices. Investment banker Kweku Adoboli, who was arrested a year ago when the huge […]
BAGCO to Delist from Stock Exchange
The Nigerian Bag Manufacturing Company Limited (BAGCO), listed on the Nigerian Stock Exchange (NSE) in 2007, will be delisted from the Nigerian bourse.The delisting will follow a merger of the company with its parent firm, Flour Mills of Nigeria Plc. In a notification to the NSE last week, Flour Mills […]
