Category: Capital Market/Banking

Fitch Upgrades Fidelity Bank’s Issuer Default Rating From ‘B-’ To ‘B’
June 30, 2022 No Responses

Fitch Upgrades Fidelity Bank’s Issuer Default Rating From ‘B-’ To ‘B’

Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga)’.   According to the global rating agency,...
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Unclaimed Dividends Hit N180b 
June 29, 2022 No Responses

Unclaimed Dividends Hit N180b 

Lamido Yuguda, the Director-General, Security and Exchange Commission (SEC), on Tuesday, said the commission is working to ensure it reduces the level of unclaimed dividends to zero per cent. Speaking at an interactive session with editors on Tuesday in Lagos,...
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Finance Minister Receives Revised Nigerian Capital Market Master Plan 
June 28, 2022 No Responses

Finance Minister Receives Revised Nigerian Capital Market Master Plan 

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has received the Revised Nigerian Capital Market Master Plan (2021-2025).  Receiving the report on Monday in Abuja, the Minister reiterated the commitment of the Federal Government to...
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Fitch Reaffirms Ecobank Nigeria’s Stable Outlook
June 28, 2022 No Responses

Fitch Reaffirms Ecobank Nigeria’s Stable Outlook

Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch also affirmed the Bank’s Viability Rating (VR) at ‘b-‘ and National Long-Term Rating at &#8216...
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FirstBank Unveils Single-Digit Loan For Female Entrepreneurs 
June 27, 2022 No Responses

FirstBank Unveils Single-Digit Loan For Female Entrepreneurs 

By Moses Ebosele, ebosele@hotmail.com   — The management of First Bank of Nigeria ltd has unveiled the FirstGem fund (FirstGem loan), a single-digit loan scheme, targeted at female entrepreneurs.  In a statement on Sunday, Folake Ani-Mumuney, the ban...
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SEC Receives CIS Delegation, Harps On Cooperation To Bridge Infrastructure Gap 
June 27, 2022 No Responses

SEC Receives CIS Delegation, Harps On Cooperation To Bridge Infrastructure Gap 

By Moses Ebosele, ebosele@hotmail.com   — The Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has challenged relevant stakeholders to cooperate with the Securities and Exchange Commission (SEC) in its desire to help bridg...
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CBN Takes eNaira Campaign To Traders
June 26, 2022 No Responses

CBN Takes eNaira Campaign To Traders

The Central Bank of Nigeria (CBN) in collaboration with the Bankers Committee, on Saturday, sensitised traders and consumers at Tejuosho Market on how to conduct eNaira transactions. Traders in wears, shoes, and kitchen items, among other commodities, were enc...
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SEC Nigeria Identifies Critical Factors For Successful Capital Market Inclusion 
June 22, 2022 No Responses

SEC Nigeria Identifies Critical Factors For Successful Capital Market Inclusion 

Availability, affordability, accessibility, awareness and adequacy of capital market products will drive inclusion in the market across the country, the Securities and Exchange Commission (SEC), has said  Mr Lamido Yuguda, the Director-General of SEC, out...
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Stock Market Rebounds, Capitalisation Increases By N180b
June 22, 2022 No Responses

Stock Market Rebounds, Capitalisation Increases By N180b

The market capitalisation of the Nigerian Exchange (NGX) closed trading on Tuesday with a gain of N180 billion to close at N27.544 trillion against N27.364 trillion posted on Wednesday, halting five days of consecutive losses.  Similarly, the All-Share In...
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Dangote Sugar Shareholders Get N12.147b Dividend For 2021
June 16, 2022 No Responses

Dangote Sugar Shareholders Get N12.147b Dividend For 2021

Dangote Sugar Refinery Plc has restated its commitment to the achievement of Sugar Backward integration projects, describing it as the best thing that happened to the sector. Speaking to shareholders at the 16th Annual General Meeting (AGM) of Dangote Sug...
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CBN, Bankers’ Committee To Unveil Non-Oil Export Optimisation Framework 
June 15, 2022 No Responses

CBN, Bankers’ Committee To Unveil Non-Oil Export Optimisation Framework 

The Central Bank of Nigeria (CBN) has developed a comprehensive non-oil export optimisation framework, which would be launched at its maiden summit on non-oil exports on June 16.  The Director, Corporate Communications Department, CBN, Mr Osita Nwanisobi,...
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FirstBank Gets $150m From Afreximbank To Support Businesses
June 14, 2022 No Responses

FirstBank Gets $150m From Afreximbank To Support Businesses

African Export-Import Bank (Afreximbank) has disbursed $150 million to First Bank of Nigeria under it’s Pandemic Trade Impact Mitigation Facility (PATIMFA).  Group Head, Marketing and Corporate Communications, FirstBank, Mrs Folake Ani-Mumuney, in a stateme...
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Experts To Brainstorm On Nigeria’s Financial Inclusion Initiative At Oriental News Confab 
June 12, 2022 No Responses

Experts To Brainstorm On Nigeria’s Financial Inclusion Initiative At Oriental News Confab 

Key stakeholders in Nigeria’s financial sector would engage in a robust round table discussion on governments key policy which centers around inclusive financial system that will cover all strata of the society.  The experts drawn from key private s...
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Squad by GTCO: Reshaping the Nigerian Payment Space
June 11, 2022 No Responses

Squad by GTCO: Reshaping the Nigerian Payment Space

Fragmentation in the Nigerian payment space has served more as a constraint than an enabler; Squad by GTCO positions to lead with innovation and efficiency Without a doubt, digital payment is the next growth frontier for financial services. Amongst other...
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