Capital Market/Banking Archives — City Business News

July 27, 2021 No Responses

CBN Stops Sale Of FOREX To BDCs

The Central Bank of Nigeria (CBN) on Monday announced immediate discontinuation of the sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country. Mr. Godwin Emefiele, the CBN Governor, made this announcement on Tuesday while presenting...

July 24, 2021 No Responses

Universal Insurance, Oando Top Gainers’ Table As Market Capitalisation Recover N43b

Transactions on the Nigerian Exchange improved further by 0.21 per cent on Friday. Specifically, the All-Share Index which opened at 38,585.52 inched higher by 82.38 points or 0.21 per cent to close at 38,667.90. Also, the market capitalisation rose by...

July 23, 2021 No Responses

NETCO Declares N18.02b Revenue, Shareholders Get N400m Dividend

For the year ended December 31, 2020, the National Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) has reported N18.02 billion revenue and profit before tax of N3.37 billion. Also, withi...

July 22, 2021 No Responses

Sekibo: Market Formation Framework, Driver To Optimally Develop Solid Mineral Sector

MD/CEO of Heritage Bank Plc, Ifie Sekibo has said that market formation framework is the key to optimally exploit Nigeria’s precious metal and solid minerals endowments. He disclosed this during a webinar organised by the Securities and Exchange Commis...

July 18, 2021 No Responses

Ecobank Celebrates Nigerians In Diaspora, Explains Zero Fees For Transactions On Rapidtransfer

In commemoration of this year’s National Diaspora Day event, Ecobank Nigeria is joining the rest of the country to celebrate Nigerians in the diaspora by making transactions on its proprietary money transfer app, Rapidtransfer, free of charge. Th...

July 17, 2021 No Responses

Fidelity Bank Boss Advocates Financial Education, Inclusion For Children

The Chief Executive Officer, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, has urged parents to ensure financial education and inclusion for their children to prepare them for opportunities in the future. A statement issued on Friday by Mr Ejike ...

July 16, 2021 No Responses

FirstBank Empowers Firstmonie Agents With N100b Loan

First Bank of Nigeria Ltd has empowered Firstmonie agents with the sum of N100 billion through its agent credit scheme. In a statement on Thursday, FirstBank Group Executive, e-Business & Retail Products, Chuma Ezirim explained t...

July 11, 2021 No Responses

Fidelity Bank Unveils 7-Point Growth Agenda

By Moses Ebosele, ebosele@hotmail.com — The management of Fidelity Bank Plc has unveiled seven-point agenda aimed at strategic growth and expansion. In a statement on Saturday, the bank’s Chief Executive Officer/ Managing Direct...

July 10, 2021 No Responses

CBN Releases Supervisory Framework For Payment Service Banks

The Central of Nigeria (CBN) has released the Guidelines for the Licensing and Regulation of Payment Service Banks (PSBs) in Nigeria. Information obtained in the apex bank’s website indicated that the guidelines was first issued in 2018 and revised in...

July 9, 2021 No Responses

Ecobank Renews Support For Nigerian Women In Business

Ecobank Nigeria has launched “Ellevate”, a gender-based proposition for women-owned businesses to reduce gender inequality in entrepreneurship and aid equal representation for women in the formal business sector. The Managing Director, Ecobank ...

July 8, 2021 No Responses

NGX Group Engages Analysts Ahead of Planned Listing

Ahead of its planned listing by introduction on Nigerian Exchange Limited, NGX Group held an analyst call on Wednesday, 7 July 2021, where the Management of the Group and its entities provided key insights into the setup of the new...

July 4, 2021 No Responses

SEC Nigeria Issues Interoperability Framework Among CSDs

As part of measures to enhance the efficiency of trading and settlement functions as well as align the market with international best practices,the Securities and Exchange Commission (SEC) has issued an Interoperability/Financial Markets Infrastructure Link Fr...

July 4, 2021 No Responses

FirstBank Pledges N5m Support To Lagos Rotary Club

First Bank of Nigeria Ltd has pledged to support Rotary Club of Lagos intervention projects with the sum of five million naira. The Chief Executive Officer of the bank, Dr Adesola Adeduntan, made the pledge at the induction of the...

July 2, 2021 No Responses

Coronation MB Lists N25B Bond On NGX

Coronation Merchant Bank Funding SPV Plc listed its Twenty-Five Billion Naira (N25Bn) Bond on Nigerian Exchange (NGX) Limited on Wednesday, 30 June 2021. The 5-year 6.25% Series one (1) Fixed Rate Subordinated Unsecured Bonds due 2025 is under Coronation...