JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and more than a half dozen other major banks are being hit with a new lawsuit over $949 million in residential mortgage-backed securities. A summons was filed Tuesday by Sealink Funding Ltd, an Irish entity that oversees risky RMBS, in […]

The Nigerian naira strengthened further against the U.S dollar on both the interbank market and official forex window on Wednesday, supported by dollar inflows from oil company sales and offshore interest in treasury bills.  The naira closed at 157.45 to the dollar at the interbank, firmer than the 157.60 naira […]

Nestle (Nigeria) Plc yesterday announced its full year 2011 results, with turnover coming in strong at N98.0bn, 18.4% higher than the N82.7bn reported for FY 2010. Although PBT recorded a marginal 1.6% rise to N18.5bn, post-tax profits came in stronger by 33.4% from N12.6bn to N16.8bn. The company proposed a […]