Category: Capital Market/Banking

MPR Reduction: More Experts Laud CBN
March 29, 2019 No Responses

MPR Reduction: More Experts Laud CBN

The Lagos Chamber of Commerce and Industry (LCCI) has commended the Central Bank of Nigeria (CBN)  for  reducing the Monetary Policy Rate (MPR) by 50 basis points from 14 per cent to 13.5  per cent. Its Director-General, Mr. Muda Yusuf...
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SEC Extends Issuance of Dividend Warrants to Dec 2019
March 29, 2019 No Responses

SEC Extends Issuance of Dividend Warrants to Dec 2019

The securities and Exchange Commission (SEC) has extended the deadline for the discontinuance of the issuance of dividend warrants to 31st December 2019. This the SEC said is to enable relevant stakeholders deliberate on and address all outstanding issues...
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Entities Must Identify, Block Fraudsters, Says Saleh, CEO, Egyptian Stock Exchange
March 29, 2019 No Responses

Entities Must Identify, Block Fraudsters, Says Saleh, CEO, Egyptian Stock Exchange

The Executive Chairman, Egyptian Stock Exchange, Mohamed Farid Saleh, has advised financial institution to put in place a detailed Know Your Customer (KYC) policy as part of measures to curtail financial crimes.  In a chat with WFE in house magazine,...
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Sustaining Industrial Base Through FOREX Restriction On 41 Items
March 29, 2019 No Responses

Sustaining Industrial Base Through FOREX Restriction On 41 Items

Gradually, the Foreign Exchange (FOREX) restriction placed  on 41 items by the Central Bank of Nigeria (CBN) is generating positive impact across the country.  The policy, which among others is designed to protect local production and create employme...
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CBN Pegs Interest Rate At 13.5 Per Cent
March 27, 2019 No Responses

CBN Pegs Interest Rate At 13.5 Per Cent

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has for the first time in two years adjusted interest rate downwards to 13.5 per cent.  Briefing Journalists after the meeting on Tuesday, CBN Governor, Godwin Emefiele said:...
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UBA Hinges Future Performance On Cost Efficiency
March 25, 2019 No Responses

UBA Hinges Future Performance On Cost Efficiency

United Bank for Africa (UBA) Plc has assured its local and international investors that it’s prudent focus on improved asset quality as well as the continuous adoption of strict cost efficient measures will help the bank achieve its objectives and...
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Ecobank Wins CBN/NIBSS Award For Data Integrity
March 24, 2019 No Responses

Ecobank Wins CBN/NIBSS Award For Data Integrity

Ecobank has been named winner of Electronic Data Rendition and Integrity  award in the Platform Efficiency award category at the 4th Electronic Payments Incentive Scheme Efficiency awards organised jointly by CBN/NIBSS in Lagos on Friday.  A statemen...
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CBN Explains $6b Investments In Nigeria’s Bond Market
March 22, 2019 No Responses

CBN Explains $6b Investments In Nigeria’s Bond Market

As Nigerians await the outcome of the supplementary polls in some states, the successful conduct of the general elections is generating positive investments, with the inflow of over $6 billion into the local bond market. Central Bank of Nigeria (CBN)...
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Nigeria To Auction N100b Bonds
March 20, 2019 No Responses

Nigeria To Auction N100b Bonds

The Federal Government of Nigeria will auction by subscription N100 billion worth of bonds on March 27, 2019. The Debt Management Office (DMO)  in a circular on its website on Tuesday explained  that the five-year re-opening bonds of N40 billion...
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Transcorp Hotels Shareholders Get 15k Dividend
March 20, 2019 No Responses

Transcorp Hotels Shareholders Get 15k Dividend

Shareholders of Transcorp Hotels Plc, have commended the Company for its impressive financial results for the year ended December 31, 2018.  The congratulatory remarks were made at the Company’s 5th Annual General Meeting, which took place at ...
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CBN Targets $10b Foreign Exchange From Palm Oil
March 19, 2019 No Responses

CBN Targets $10b Foreign Exchange From Palm Oil

As part of measures to consolidate revenue base, the Central Bank of Nigeria (CBN) has unveiled fresh agenda to position Nigeria as the world’s third largest palm oil producer.  Under the agenda, Nigeria is expected to overtake Thailand and Columbia...
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Ecobank Group Faults Forfeiture Claim on Airtel Shares
March 18, 2019 No Responses

Ecobank Group Faults Forfeiture Claim on Airtel Shares

There is no forfeiture order of the Federal High Court of Nigeria in its proceedings that is directed against Ecobank Transnational Incorporate (ETI) or Ecobank Nigeria Limited, O&O Networks Limited, Special purpose vehicle owned by the Ecobank Group, expl...
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UBA Declares N78.6b Profit, N494b Gross Earnings In 2018
March 18, 2019 No Responses

UBA Declares N78.6b Profit, N494b Gross Earnings In 2018

For the 2018 financial year, the United Bank for Africa (UBA) Plc has declared Profit After Tax of N78.6billion, an increase of 1.4 per cent when  compared to N77.5 billion recorded in 2017.  According to the 2018 financials already filed...
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Access Bank Reports N95b Profit For 2018
March 16, 2019 No Responses

Access Bank Reports N95b Profit For 2018

For the financial year ended December 31, 2018, Access Bank Plc has declared a profit after tax of N95 billion According to the foremost financial institution,  the profit after tax grew by 58 per cent compared with N60.07 billion recorded...
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