Author Archives: InvestAdvocate

NBC’s shareholders okay 50 kobo dividend

  TUESDAY, 22 JUNE 2010 BY   Shareholders of Nigerian Bottling Company (NBC) Plc have approved the proposal by the directors of the company to pay 50 kobo dividend for… Read more »

Analysts raise moral questions over purchase of toxic assets by Asset Management Company

  TUESDAY, 22 JUNE 2010 01:23 JOHN OMACHONU    Fresh worries, bordering on the moral justification for expending tax payers’ funds on the controversial toxic assets of banks through the… Read more »

New CBN report catalogues mess in power sector

  TUESDAY, 22 JUNE 2010 01:24    A new report prepared for the Central Bank and the Committee of Bankers has offered a comprehensive insight into the hapless state of… Read more »

Depositors of liquidated microfinance banks will be paid, NDIC boss

  Jun 21, 2010 By Babajide Komolafe   Last week, the Nigeria Deposit Insurance Corporation (NDIC) held a training programme for its examiners on risk based supervision.   In this… Read more »

Custodian & Allied records N2.02bn profit

  Jun 21, 2010 Patience Saghana Custodian and Allied Insurance Plc recorded a gross profit of N2.02 billion for the year ended 31st December, 2009. The company’s gross premium increased by… Read more »

Fair valuation of bank loans will increase volatility of shareholder interest, Fitch

June 21, 2010 By Omoh Gabriel Business Editor The new requirement by financial regulators across the globe as a result of the impact of the global financial crisis on economies… Read more »

Spring Bank post 136.25% loss in 2009 FYE, no dividend

  By investadvocate June 21, 2010- 12:20 GMT   Spring Bank Plc (Springbank) has posted a loss of 136.25 percent (136.25%) in its 2009 Financial Year End (FYE) released on… Read more »

NAICOM discovers fraud in insurers’ annual reports

  June 21, 2010   National Insurance Commission (NAICOM) has discovered accounting fraud in insurance annual reports. The commission has found out that most insurance companies failed to disclose their… Read more »

NBC’s turnover hits N90.2b

  Jun 21, 2010 By Naomi Uzor The Nigerian Bottling Company (NBC) has announced a 13 per cent growth in its turnover to N90.2 billion in its 2009 financial statements… Read more »

Inter-bank rates drop as FAAC disburses N207bn

    By Gbenga Agbana  Monday, 21 Jun 2010            Liquidity from the release of about N207bn from the Federation Account Allocation Committee last week, which hit… Read more »