Category: Capital Market/Banking

Presco Sustains Growth, Explains New Appointments
June 12, 2024 No Responses

Presco Sustains Growth, Explains New Appointments

   By citybusinessnews@yahoo.com   – Investors’ appetite for the shares of Presco Plc continued on Tuesday as the stock gained 9.97 per cent on NGX.  At the end of the day’s transactions, the share price of Presco Plc increased to  N323.20  to emerge as the...
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Access Bank Completes Acquisition Of BancABC Tanzania
June 11, 2024 No Responses

Access Bank Completes Acquisition Of BancABC Tanzania

Access Bank Plc has announced the successful completion of its acquisition of African Banking Corporation (Tanzania) Limited (BancABC Tanzania), in line with its strategic expansion goals. With the successful acquisition of BancABC Tanzania by the Ba...
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NGX Launches New USSD To Enhance Capital Market Access
June 8, 2024 No Responses

NGX Launches New USSD To Enhance Capital Market Access

Nigerian Exchange (NGX) Limited has urged investors to leverage on its new USSD platform for enhanced capital market access.  NGX stated this at its Investor Education Series, partnered with Meristem via a zoom meeting held with the theme, ‘Unlocking Po...
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Presco’s Shareholders Okay N24.3b For 2023 Dividend
June 6, 2024 No Responses

Presco’s Shareholders Okay N24.3b For 2023 Dividend

For the year ended December 31, 2023, Shareholders of Presco Plc have approved dividend of N24.30 per 50 Kobo share, amounting to N24.3billion.   At the 31st Annual General Meeting (AGM) of Presco Plc in Lagos on Thursday, Shareholders also...
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FIDELITY BANK UNDERTAKES ₦29.6b RIGHTS ISSUE, ₦97.5b PUBLIC OFFER
June 5, 2024 No Responses

FIDELITY BANK UNDERTAKES ₦29.6b RIGHTS ISSUE, ₦97.5b PUBLIC OFFER

Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer...
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IFC Awards Access Bank ‘Best Trade Partner Bank West Africa’
June 4, 2024 No Responses

IFC Awards Access Bank ‘Best Trade Partner Bank West Africa’

Access Bank has been recognised as the ‘Best Trade Partner Bank West Africa 2024’ by the International Finance Corporation (IFC). Presented at the Global Trade Partners Meeting (GTPM), held recently, in Barcelona, Spain, this prestigious award highlights A...
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CBN Revokes Heritage Bank’s License
June 3, 2024 No Responses

CBN Revokes Heritage Bank’s License

The  Central Bank of Nigeria (CBN) on Monday, June 3, 2024, revoked the licence of Heritage Bank with immediate effect.    A statement issued by the  Acting Director, Corporate Communications, CBN, Mrs Hakama Sidi Ali explained that – “The Cent...
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FIRSTBANK MAINTAINS IMPRESSIVE PERFORMANCE, POSTS N238.53BN PBT IN Q1 2024
June 2, 2024 No Responses

FIRSTBANK MAINTAINS IMPRESSIVE PERFORMANCE, POSTS N238.53BN PBT IN Q1 2024

FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023.  The Q1 2024...
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Photo News
May 30, 2024 No Responses

Photo News

Zenith Bank Plc Outgoing Group Managing Director/CEO, Dr. Ebenezer Onyeagwu (right) sharing a moment with incoming Group Managing Director/CEO, Dame (Dr.) Adaora Umeoji OON.
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CBN Issues Approved Guidelines For BDCs
May 23, 2024 No Responses

CBN Issues Approved Guidelines For BDCs

The Central Bank of Nigeria (CBN) has issued its approved guidelines to regulate the activities of Bureau de Change (BDC) operators in the country. In its new circular released on Wednesday, the minimum capital base for Tier-1 BDCs is N2bn...
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CBN Raises Interest Rate To 26.25 %
May 22, 2024 No Responses

CBN Raises Interest Rate To 26.25 %

The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points from 24.75 per cent to 26. 25 per cent. Following a two-day meeting, the bank’s Monetary Policy Committee (MPC) agreed to increase the Monetary Policy...
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Transcorp Power Declares N142b Revenue, N23.46b Dividend
May 21, 2024 No Responses

Transcorp Power Declares N142b Revenue, N23.46b Dividend

Transcorp Power Plc, a subsidiary of Transnational Corporation Plc (Transcorp Group), has announced impressive financial performance at its 11th Annual General Meeting (AGM), the first since the Company went public, via a listing by introduction of its shares,...
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DMO Raises N4.9tri For Ways And Means Securisation
May 21, 2024 No Responses

DMO Raises N4.9tri For Ways And Means Securisation

The Debt Management Office (DMO) has raised N4.9 trillion out of the N7.3 trillion approved for Ways and Means securitisation. “For the Ways and Means, out of the N7 trillion approved for securitisation, we have raised N4.905 trillion,” Oniha said....
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UBA @ 75: GMD Lauds Elumelu, Stakeholders
May 21, 2024 No Responses

UBA @ 75: GMD Lauds Elumelu, Stakeholders

The Group Managing Director and Chief Executive Officer of United Bank for Africa Plc, Oliver Alawuba, has hailed the Chairman of the global financial powerhouse, Tony Elumelu, and other stakeholders for the success recorded by the bank in its 75...
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