Archive for October, 2009

Here are the weekly NSE reports from IBTC Asset Management and FSDH:
IBTC - Weekly NSE Report - Oct 23rd 2009 (367)</br>
FSDH - Weekly NSE Report - Oct 23rd 2009 (500)

NSE Report For The Week Ended October 23rd 2009

Stockbrokers’ NSE Reports For Week Ended Oct 16th

NSE Weekly Report For The Week Ended October 16th 2009

Here is the August edition of Vanguard Newspaper’s Sweet Crude magazine:

The <a href=””>United Nations Development Programme</a> recently released its <a href=””>2009 Human Development Report</a>. <a href=””>Nigeria was ranked 158th</a> out of 182 countries. Here are some stats:
– Human Development Index 0.511 (158th). Below Uganda (157th) and Lesotho (156th) and just ahead of Togo, Malawi and Niger who are ranked 159th, 160th and 161st respectively.

– Life Expectancy of 47.7 years (ranking 167th).  Below Mali and Mozambique and just ahead of Congo DR, Guines Bissau and Afghanistan

– Adult Literacy Rate of 70% (ranking 112th). Below Lao and Tanzania and just ahead of Mali and Madagascar.

– GDP Per Capita of  $1969 (ranking 141st)

– Human Poverty Index of 36.2 ranking 114th just ahead of Mauritania and Burundi.

– 8th in remittances with average of $9,221

Here is the <a href=””>Full Report</a> and <a href=””>Summary</a>.

The <a href=””>Central Bank of Nigeria</a> on Wednesday, released the list of debtors with non-performing loans to the banks that were recently taken over (Bank PHB, Equitorial Trust Bank, and Spring Bank). Here is an excerpt of <a href=””>Tribune Newspaper’s</a> report:

<blockquote>IN its ongoing sanitisation of the nation’s banking sector, the Central Bank of Nigeria (CBN), on Wednesday, released another list of individuals, corporate organisations, parastatal agencies and state governments owing five banks whose audit reports were released recently.

The total amount owed the five banks, according to the release, is N346,408,028,581.04, excluding the sum total of non performing loan of Wema Bank, which could not be ascertained at press time.

The non performing loans of the banks as at June 30, 2009 and October 5, 2009 respectively revealed Bank PHB topping the list with N170,073,403,358.39, followed by Spring Banks (N95,594,989,430.06), Equitorial Trust Bank’s (N46,154,945,774.44) and Unity Bank (N36,585,690,018.15).

As usual, names of politicians, businessmen and contractors topped the list. These include the former Managing Director of Wema Bank Plc, Mr. Adebisi Omoyeni whose Independent Securities Ltd owes N5 billion and Barrister Jimoh Ibrahim whose total loan is put at N5 billion also.

Others include Femi Otedola of Zenon Petroleum Gas Limited (N5,154,041,716.86), Peter Ololo of Petosan Oil & Gas Company Limited (N4,548,125,091.02), Chief Oyewole Fasawe (N7,874,801,592.84) and Kola Daisi of National Sports Lottery Ltd (N4,821,060,327.76).</blockquote>

You can download the report below.
CBN-Bank Debtors - Oct 14th 2009 (554)

NSE Report For The Week Ended October 9th 2009

Here are the weekly NSE reports from Stanbic IBTC Asset Management and FSDH for the week ended October 2nd 2009:

The <a href=””>IMF</a> yesterday, released the new <a href=””>World Economic Forecasts</a>. Economic growth in Nigeria is expected to slow to 2.9% this year from 7% last year. It should rise to 5% in 2010. Consumer prices are expected to increase by 12% in 2009 and 8.8% in 2010.
A major reason for the slowing of economic growth is the fall in financial flows from oil exports. You can download the report below.

The Central Bank of Nigeria (CBN) today released the results of the audit of the remaining 14 banks. Equitorial Trust Bank, Bank PHB, Wema Bank, and Spring Bank were found to be in grave situations. The CEOs of Equitorial Trust Bank, Bank PHB and Spring Bank have been removed and replaced with immediate effect. Here […]

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This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!


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