Category: Capital Market/Banking

CBN direct banks to sell forex to BDCs
July 24, 2016 No Responses

CBN direct banks to sell forex to BDCs

By Moses Ebosele –  AS part of measures to ensure stability of the Exchange rate, the Central Bank of Nigeria (CBN) has directed agent banks approved for international money transfer operators to sell foreign currency accruing from inward money remittances...
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Presco shareholders get N1billion dividend today
July 21, 2016 No Responses

Presco shareholders get N1billion dividend today

By Moses Ebosele –   Proposal by the board of Presco Plc to pay a dividend of 100kobo per share, amounting to N1billion for the year ended December 31, 2015 has been approved by shareholders.  Addressing shareholders yesterday during the company’s.....
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UBA partners Mastercard on payments infrastructure
July 20, 2016 No Responses

UBA partners Mastercard on payments infrastructure

TO further consolidate on its activities, United Bank for Africa (UBA) has partnered Master Card on payment infrastructure across the Africa continent.   The partnership  which cuts across the 19 African countries in which UBA currently operates include Nige...
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Investors stake N3.8b on three banks in one week
July 18, 2016 No Responses

Investors stake N3.8b on three banks in one week

By Moses Ebosele –   For the week ended July 15, 2016, transactions in FBN Holdings Plc, Guaranty Trust Bank Plc and Access Bank Plc accounted for 353.999 million shares worth N3.867 billion in 4,188 deals.   At the end of...
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Skye Bank shares maintains slidding profile
July 18, 2016 No Responses

Skye Bank shares maintains slidding profile

By Moses Ebosele    The shares of Skye Bank Plc  has continued its free fall on the floor of Nigerian Stock Exchange (NSE).    At the end of trading for the week ended Friday July 15, 2016, the Bank shares...
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SEC boss pledges to raise market participation
July 18, 2016 No Responses

SEC boss pledges to raise market participation

AS part of measures to deepen Nigerian capital market, the Securities and Exchange Commission (SEC) has expressed its determination to raise the participation of retail investors.  Speaking during a visit to the Federal Radio Corporation of Nigeria (FRCN) in ...
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Nigerian Breweries records 11.24 % drop in profit
July 15, 2016 No Responses

Nigerian Breweries records 11.24 % drop in profit

For the first half of 2016, Nigerian Breweries Plc has declared profit after tax of N19.06billion, a drop of 11.24 per cent when compared to N21.47 billion recorded within same period in 2015. However, the unaudited and provisional results released...
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Fitch affirms UBA’s viability rating as Agusto upgrades rating to “Aa”
July 15, 2016 No Responses

Fitch affirms UBA’s viability rating as Agusto upgrades rating to “Aa”

*Stock now best performing on the exchange. Foremost global rating agency, Fitch International has affirmed United Bank for Africa (UBA) Plc’s viability rating at “B”.  Meanwhile, the pan-African banking group has continued to sustain its benchmark asse...
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FirstBank targets 10million new customers in three years
July 14, 2016 No Responses

FirstBank targets 10million new customers in three years

AS part of its financial inclusion initiative, First Bank of Nigeria Limited has unveiled plan to grow its customer base by over 10 million new customers in the next three years.   Managing Director and Chief Executive Officer of First...
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FBN Capital partners Oxford Business Group on research
July 13, 2016 No Responses

FBN Capital partners Oxford Business Group on research

By Moses Ebosele –  FBN Capital has signed a research Memoradum of Understanding (MoU) with Oxford Business Group (OBG). Under the aggrement, a report by OBG will examine the Central Bank of Nigeria’s monetary policy, review the country’s recently-r...
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Diamond Bank unveils Mobile POS
July 13, 2016 No Responses

Diamond Bank unveils Mobile POS

By Moshood Aliyu –  To increase safety and reliability in payment, Diamond Bank Plc in collaboration with Microsoft has introduced   Diamond Mobile POS (MPOS). Speaking on the partnership between Diamond and Microsoft on Tuesday in Lagos, Diamond Bank...
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July 13, 2016 No Responses

ASEA partners AfDB on capital market development

By Moses Ebosele –  The African Securities Exchanges Association (ASEA) and African Development Bank (AfDB) have signed a Memoradum of Understanding (MoU) aimed at developing capital markets within the continent. Prominent among those who attended the c...
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NSE unveils sustainability report, adopts GRI reporting guidelines
July 12, 2016 No Responses

NSE unveils sustainability report, adopts GRI reporting guidelines

By Moses Ebosele   The Nigerian Stock Exchange (NSE) has released its 2015 Sustainability Report titled “Ushering in a new era of sustainability in the Nigerian market place”.  The report, which is in its second edition, according to NSE  demonstrates.....
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NSE’s 123 equities remain unchanged as two trading sessions record 377.798 million shares
July 11, 2016 No Responses

NSE’s 123 equities remain unchanged as two trading sessions record 377.798 million shares

By Moses Ebosele One hundrend and twenty three equities remain unchanged last week as the Nigeria Stock Exchange (NSE) opened for two trading sessions.   The stock market opened for two trading sessions as the Federal Government declaredTuesday 5th, Wednesda...
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