Afren PLC says it has discovered a new oil find just off Nigeria’s southern coast. In a statement dated Tuesday, the London-based firm says they discovered oil deposits “equivalent to those that have been developed and are in production at the Okoro main field.” The Okoro field now produces roughly […]

Equity trading activities on the Nigerian Stock Exchange resumed this week on a negative trend, with major indicators declining marginally. The market capitalisation of listed shares fell by 0.1 per cent or N5bn, from last week’s closing figure of N6.567tn recorded on Friday to close at N6.562tn. Similarly, the NSE’s […]

The Central Bank of Nigeria on Monday intervened in the foreign exchange market as it offered $200m for sale at the auction. It said, in a statement on its website, “Further to our circular Ref. FMD/FED/CIR/GEN/01/082/10 of December 29, 2010, the CBN hereby intervenes with an offer of $200m for […]