Category: Capital Market/Banking

Wema Bank Appoints New Managing Director
June 30, 2018 No Responses

Wema Bank Appoints New Managing Director

Wema Bank Plc has announced the retirement of its Managing Director/Chief Executive Officer, Segun Oloketuyi, following almost a decade at the helm of the Bank.  “On behalf of the Board and Management of the Bank, I want to thank Mr...
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European Bank To Invest €700m In Nigeria
June 27, 2018 No Responses

European Bank To Invest €700m In Nigeria

The Regional Representative for West Africa of European Investment Bank (EIB), Ms Isabelle Grunderbeeck, has disclosed that the  bank plans to invest 700 million euros in some identified projects in Nigeria.  Grunderbeeck disclosed this at the bank’s inter...
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Nigeria Injects Another $210m Into Forex Market
June 27, 2018 No Responses

Nigeria Injects Another $210m Into Forex Market

The Central Bank of Nigeria (CBN) has made available the sum of $210million, to meet customers’ requests in various segments of the inter-bank foreign exchange market.  The CBN, in its quest to meet demands in the various segments of the...
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Heritage Bank Promotes 350 Staff
June 25, 2018 No Responses

Heritage Bank Promotes 350 Staff

In line with its commitment geared towards greater efficiency and resource optimization, as part of its growth and industry innovative agenda designed to strengthen the bank’s business across all markets where it operates, Heritage Bank Plc has announced the...
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SEC Nigeria Assures Foreign Investors of Dynamic, Transparent Market
June 25, 2018 No Responses

SEC Nigeria Assures Foreign Investors of Dynamic, Transparent Market

The Securities and Exchange Commission (SEC) Nigeria, has assured foreign investors of the safety of their investments in the Nigerian capital Market.   In a chat with representatives of JP Morgan and Stanbic IBTC who visited the Commission in Abuja weekend,...
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Investors Stake N4.85B On UBA, Zenith, FBN Holdings In Four Days
June 23, 2018 No Responses

Investors Stake N4.85B On UBA, Zenith, FBN Holdings In Four Days

For the week ended June 22, 2018, trading in the shares of United Bank for Africa Plc (UBA), Zenith International Bank Plc and FBN Holdings Plc accounted for 325.580 million shares worth N4.854billion in 3,381 deals, contributing 29.68% and 31.37%...
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‘Nigerian Banks Lose N12.30B To Fraud In Four Years’
June 22, 2018 No Responses

‘Nigerian Banks Lose N12.30B To Fraud In Four Years’

The Nigerian Inter-Bank Settlement System (NIBSS), on Thursday said the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017. Mr Adebisi Shonubi, Managing Director, NIBBS, disclosed this at the third Annual Banking Security S...
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Wema Bank Unveils Agent Banking In Kano
June 21, 2018 No Responses

Wema Bank Unveils Agent Banking In Kano

Wema Bank Plc has introduced agent banking in Kano as it seeks to deepen its retail footprint across informal economic sectors of the North-Western states and to drive financial inclusion within the entire northern region of the country.  Agent Bank...
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CBN Lifts Forex Market With $210 Million
June 21, 2018 No Responses

CBN Lifts Forex Market With $210 Million

The Central Bank of Nigeria (CBN) has boosted the foreign exchange market with 210 million dollars to meet customers’ requests in various segments.   A statement issued by Mr Isaac Okorafor, Acting Director, Corporate Communications on Wednesday explained ...
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FG Explains N1.580Trillion Capital Cost To MDAs
June 20, 2018 No Responses

FG Explains N1.580Trillion Capital Cost To MDAs

The Federal Government has announced that a total of N1,580,270,755,084.44(One trillion, five hundred and eighty billion, two hundred and seventy million, seven hundred and fifty-five thousand, eighty-four naira, forty-four kobo) capital cost was released to M...
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Naira Converges At N360 To Dollar
June 20, 2018 No Responses

Naira Converges At N360 To Dollar

The Naira on Tuesday converged at N360 to the dollar across the major foreign exchange market, the News Agency of Nigeria(NAN) reports. At the parallel market, the naira traded at N360 to a dollar, stronger than the N360.6 exchanged before...
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Investors Stake N18.4b On Shares In Four Days
June 15, 2018 No Responses

Investors Stake N18.4b On Shares In Four Days

The floor of Nigerian Stock Exchange (NSE) recorded a total turnover of 1.738 billion shares worth N18.462 billion in 14,790 deals between Monday and Friday this week.   It’s a four-day trading session this week as the Federal Government of...
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CBN Lifts Retail SMIS With $343.06m Forex
June 15, 2018 No Responses

CBN Lifts Retail SMIS With $343.06m Forex

The retail Secondary Market Intervention Sales (SMIS) has received a boost of $343.06 million from the Central Bank of Nigeria (CBN), following the Bank’s intervention in the Foreign Exchange market on Thursday, June 14, 2018.  Figures obtained from the Ban...
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Bankers’ Committee: Importers With Chinese Yuan Invoices To Pay Less
June 15, 2018 No Responses

Bankers’ Committee: Importers With Chinese Yuan Invoices To Pay Less

The Central Bank of Nigeria (CBN)-led Bankers’ Committee declared on Thursday in Lagos that importers with invoices from Chinese exporters will pay less than their other counterparts.  At the end of its meeting in Lagos, the committee, comprising commercial...
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