Curator

http://ift.tt/eA8V8J By Perez Brisibe Delta State Government, yesterday, said it was putting measures in place to partner the private sector towards attracting investors to the state. Making the disclosure during the second luncheon of the Ughelli Chamber of Commerce, Industry, Mines and Agriculture, UCCIMA, the state Commissioner for Information, Olorogun David Edevbie, explained that the state was passionate in its quest to support businesses and the private sector. Edevbie, represented by the ministry’s Director of Administration, Mr. Karo Ovemeso, said: “Despite the recession in the country, Delta State Government has adopted measures for job and wealth creation which is the bedrock of the Governor Ifeanyi Okowa administration.” Earlier in his address, chairman of the event, Olorogun Johnny Esike, who also received an award of excellence for his contribution to economic growth, urged entrepreneurs to go into partnership for their businesses to thrive. He said: “As an entrepre...

http://ift.tt/eA8V8J By Ediri Ejoh F OLLOWING the successful sale of its 60 percent equity stake of ExxonMobil in Mobil Oil Nigeria Plc (MON) to Nipco PLC, shareholders has called on the later to toe the path of the former and better drive more investment. These were the views of Nipco stakeholders at its 2016 Annual General Meeting, AGM which was set to formally declare the company’s changed name from Mobil Oil Nigeria Plc to Double One Plc (11plc) by order of the Board in Lagos. According to them, “Mobile has maintained a standard over the years in its operations, as such, the momentum should be sustained and to be reflected on our dividends.” They also commended the company for its performance by declaring reasonable dividends in spite the economic crunch and Foreign Exchange challenges during the 2016 financial year. However, Mobil Oil declared a 67 percent increase in profit  to N8. 15billion with dividend of N8.00 per 50 kobo, against 2015 record of N4.9billion and div...

http://ift.tt/eA8V8J Let’s wait and see – Afeez Idowu, Medical Doctor and a shareholder NIGERIAN Capital Market Development Fund, NCMDF is a new initiative by the Securities and Exchange, SEC, aimed at reducing or eradicating the rising unclaimed dividend by shareholders of quoted companies. The seed funding coming from the Commission is laudable and showing its commitment to end unclaimed dividend. The problem is managing the fund; many shareholders believe that government agencies are not good at managing money. I am not so sure of what SEC’s role would be in this development Fund.   Until we get the full detail of how it will be run, one cannot really say much.  Apparently, it is not good for investors to use fake names in investing in shares; it is my hope that with the Capital Market Development Fund, such practice would be eliminated. It is about time we begin to eliminate practices that will discourage both local and foreign investors from coming into our mark...