Category: Capital Market/Banking

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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Alternative Finance For Creative Industry: VFD Group Mulls SplitXchange  
March 27, 2024 No Responses

Alternative Finance For Creative Industry: VFD Group Mulls SplitXchange  

VFD Group Plc has stressed the need for increased financing for the entertainment and media industry to boost foreign exchange earnings and economic development.The Managing Director of Splitar Limited, Mr Folagbade Adeyemi, stated this while speaking at the C...
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CBN Sells FX To BDCs At N1,251/$1
March 26, 2024 No Responses

CBN Sells FX To BDCs At N1,251/$1

As the naira gradually appreciates against the dollar after months of unprecedented uncertainties, the Central Bank of Nigeria (CBN), on Monday, announced the sales of $10,000 to each of the eligible Bureau De Change (BDC) operators in the country at...
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NGX RegCo, Financial Reporting Council, Unveil Report On Adoption Of Sustainability Reporting Standard
March 24, 2024 No Responses

NGX RegCo, Financial Reporting Council, Unveil Report On Adoption Of Sustainability Reporting Standard

The regulating body of the Nigerian Exchange Group, the NGX Regulation Ltd. (NGX RegCo) and Financial Reporting Council of Nigeria (FRCN), at the weekend launched roadmap for the adoption of the Sustainability Financial Reporting Standard in Nigeria. The lunch...
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Stock Market Recovers N74b
March 22, 2024 No Responses

Stock Market Recovers N74b

Bullish sentiment returned to the equity market on Thursday, following investors’ interest stocks of BUA Cement, Zenith Bank and other top traders, making it the first gain of the week. Specifically, the market capitalisation, which opened at N58.947 trillio...
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Access Bank To Acquire National Bank Of Kenya
March 21, 2024 No Responses

Access Bank To Acquire National Bank Of Kenya

Access Bank is to acquire the National Bank of Kenya from the KCB Group, its second acquisition of a Kenyan bank in under five years. After purchasing Transnational Bank Limited. in 2019, this is the Nigerian lender’s second acquisition in...
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CBN Clears FX Transactions Backlog
March 21, 2024 No Responses

CBN Clears FX Transactions Backlog

The Central Bank of Nigeria (CBN) has cleared all valid foreign exchange backlogs of s$7 billion, fulfilling a key pledge of its Governor, Mr. Olayemi Cardoso. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications, Mrs Hakama...
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Zenith Bank Appoints Adaora Umeoji As GMD/CEO 
March 20, 2024 No Responses

Zenith Bank Appoints Adaora Umeoji As GMD/CEO 

The Board Directors of Zenith Bank Plc has appointed Dr. Adaora Umeoji as the Group Managing Director/ Chief Executive of Zenith Bank Plc.  The Bank in a statement to the Nigerian Exchange explained that the appointment is with effect from June ...
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Floating LNG Project: UTM Solicits NCDMB’s Equity Investment, Approvals
March 16, 2024 No Responses

Floating LNG Project: UTM Solicits NCDMB’s Equity Investment, Approvals

UTM Offshore Limited, promoters of Nigeria’s first Floating Liquefied Natural Gas (FLNG) facility has requested the Nigerian Content Development and Monitoring Board (NCDMB) to invest equity in the project and to accelerate key approvals that would fast-trac...
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Access Holdings Appoints Aig-Imoukhuede As Chairman
March 14, 2024 No Responses

Access Holdings Appoints Aig-Imoukhuede As Chairman

Access Holdings Plc (Holdco) has announced the return of Mr. Aigboje Aig-Imoukhuede, to the bank as its Non-Executive Chairman. He replaces Mr. Abubakar Jimoh, the erstwhile Chairman of the HoldCo who remains on the Board as an Independent Non-Executive Direct...
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