Category: Capital Market/Banking

NPA Secures $700m Citibank Loan
April 18, 2024 No Responses

NPA Secures $700m Citibank Loan

The Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello Koko, on Wednesday signed the Mandate Letter to secure a $700m Citibank loan to be funded by the UK Export Finance, UKEF. City Business News report that the loan is to...
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Cardoso: CBN Not Using Foreign Reserve To Defend Naira
April 18, 2024 No Responses

Cardoso: CBN Not Using Foreign Reserve To Defend Naira

THE Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, on Wednesday said the apex bank is not defending the Naira with the nation’s foreign reserves. He was speaking against the backdrop of the recent decline in Nigeria’s foreign reserves....
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Ecobank Partners Nigeria Chess Federation, To Host 2024 Competition
April 16, 2024 No Responses

Ecobank Partners Nigeria Chess Federation, To Host 2024 Competition

Ecobank Nigeria Limited, a subsidiary of the Ecobank Group, has entered a strategic partnership with Nigeria Chess Federation (NCF) to host the 2024 National Schools’ Team Chess Competition. The competition is scheduled to hold between 24th – 28th May 2024...
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UBA Declares N2.30kobo Final Dividend For 2023
April 9, 2024 No Responses

UBA Declares N2.30kobo Final Dividend For 2023

United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2023. The 2023 financials, filed by the Bank at Nigerian Exchange Limited (NGx) on Monday, showed an impressive leap in gross...
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GTCO Declares N609.3b Profit For 2023
April 9, 2024 No Responses

GTCO Declares N609.3b Profit For 2023

For the financial Year ended December 31, 2023, GUARANTY Trust Holding Company Plc (GTCO) has reported a Profit Before Tax of N609.3 billion, amounting to an increase of 184.5 per cent over N214.2billion recorded in the corresponding year. The group...
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NGX Group GMD Elected CSCS Chairman
April 9, 2024 No Responses

NGX Group GMD Elected CSCS Chairman

The Group Managing Director/Chief Executive Officer of Nigerian Exchange Group (NGX Group), Mr. Temi Popoola, has been elected Chairman of Central Securities Clearing System (CSCS) Plc, effective April 1, 2024; succeeding Mr. Oscar N. Onyema, OON, who retired ...
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NGX Group Acquires Stake In Ethiopian Securities Exchange
April 8, 2024 No Responses

NGX Group Acquires Stake In Ethiopian Securities Exchange

Nigerian Exchange Group Plc (NGX Group) has announced what it described as “a significant investment” in the Ethiopian Securities Exchange (ESX).  A statement issued at the weekend explained that NGX Group is among the top institutional investors that...
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VFD Group CEO, Nonso Okpala Joins CSCS Board
April 7, 2024 No Responses

VFD Group CEO, Nonso Okpala Joins CSCS Board

Central Securities Clearing System Plc (CSCS), Nigeria’s premier Financial Market Infrastructure company, has appointed Nonso Okpala, Group Managing Director/CEO of VFD Group, into its Board. Nonso Okpala, who currently serves as the Group Managing Direc...
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Transcorp Power Declares N3.13 Dividend
April 3, 2024 No Responses

Transcorp Power Declares N3.13 Dividend

Transcorp Power Plc (Transcorp Power) has reported N453 billion profit before tax for the year ended December. 31, 2023. Mr Stanley Chikwendu, Group Company Secretary, Transcorp Power, said this indicated a surge of 85 per cent, when compared with N439...
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Transactions On NGX Decline By N25b
April 3, 2024 No Responses

Transactions On NGX Decline By N25b

The value of transactions on the Nigerian Exchange (NGX) dropped by 13.81 per cent on Tuesday after two days of Easter break. Consequently, the market capitalisation shed N25 billion or 0.04 per cent to close at N59.095 trillion, as against...
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Access Holdings Unveils $1.5b Capital Raising Programme
March 30, 2024 No Responses

Access Holdings Unveils $1.5b Capital Raising Programme

Access Holdings Plc has unveiled plans to establish a capital raising programme of up to $1.5 billion or its equivalent. In a statement on Friday, the corporation explained that drawing from the programme, the Group expected to raise up to...
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CBN Increases Capital Base For Banks To ₦500b
March 29, 2024 No Responses

CBN Increases Capital Base For Banks To ₦500b

The Central Bank of Nigeria (CBN) has increased new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion. A circular signed by the Director, Financial Policy and Regula...
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SEC, NGX Group, ASHON, Others Celebrate Oscar Onyema
March 27, 2024 No Responses

SEC, NGX Group, ASHON, Others Celebrate Oscar Onyema

The Securities & Exchange Commission (SEC), Nigerian Exchange Group Plc, Association of Securities Dealing Houses of Nigeria (ASHON) among other key stakeholders on Tuesday celebrated the outgoing Group Chief Executive Officer of Nigerian Exchange Group Pl...
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CBN Raises Interest Rate To 24.75 Percent
March 27, 2024 No Responses

CBN Raises Interest Rate To 24.75 Percent

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent.  This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the...
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