Category: Capital Market/Banking

Fidelity Bank Rewards Customers With N10m
July 28, 2022 No Responses

Fidelity Bank Rewards Customers With N10m

Fidelity Bank Plc has rewarded 10 customers with N1million each in the eight monthly draws of its Get Alerts in Millions season five promo (GAIM 5). Dr Ken Opara, the Promo Chairman and Executive Director, Lagos and South-West, said at...
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Presco Shareholders Get N7.5b Dividend For 2021
July 27, 2022 No Responses

Presco Shareholders Get N7.5b Dividend For 2021

By Moses Ebosele, ebosele@hotmail.com   — For the financial year ended December 31, 2021, shareholders of Presco Plc, on Wednesday, approved payment of 660kobo per share final dividend, amounting to N6.6Billion.  This brought the tota...
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Ecobank Nigeria Extends Remittance Services To Business Accounts Holders 
July 26, 2022 No Responses

Ecobank Nigeria Extends Remittance Services To Business Accounts Holders 

Ecobank Nigeria has extended its innovative remittance services to its business account holders.  According to Ecobank, this implies that Business Account holders can now receive funds sent through Ecobank Rapidtransfer or any of its Remittance franchise ...
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Dangote Industries Completes Issuance Of N187.6b Bonds 
July 20, 2022 No Responses

Dangote Industries Completes Issuance Of N187.6b Bonds 

Dangote Industries Limited (DIL) has announced the successful completion of the company’s N187.6 billion series 1 bond issuance. The bond is the largest corporate bond ever issued in the history of the Nigerian capital market.  The company in a statemen...
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CBN Increases Benchmark Interest Rate To 14% 
July 20, 2022 No Responses

CBN Increases Benchmark Interest Rate To 14% 

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday increased the Monetary Policy Rate (MPR) to 14 per cent from its initial 13 per cent.  Reading a communiqué after the committee’s meeting in Lagos, Mr...
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DMO Raises N123b In July FG Bond Auction 
July 19, 2022 No Responses

DMO Raises N123b In July FG Bond Auction 

The Debt Management Office (DMO) has raised N123.85billion in its July Federal Government of Nigeria (FGN) bond auction.  A statement issued by DMO on Monday explained that the three instruments auctioned were valued at N75 billion each, totalling N225 bi...
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Ardova Declares N1.54b Profit For 2021 
July 7, 2022 No Responses

Ardova Declares N1.54b Profit For 2021 

For the financial year ended December 31, 2021, Ardova Plc (AP) has reported a profit of N1.54 billion.  In its audited financial statements and first quarter (Q1) 2022 unaudited financial results which were released on Thursday, Ardova Plc explained that...
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FG Targets N720b in Q3 As DMO Unveil Bond Issuance Calendar
July 7, 2022 No Responses

FG Targets N720b in Q3 As DMO Unveil Bond Issuance Calendar

The Federal Government is set to generate about N720 billion in the third quarter of 2022 from FGN Bonds. This is according to “FGN Bond Issuance Calendar For Third Quarter, 2022” as released by the Debt Management Office (DMO).  The...
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DMO Lists Two FGN Savings bonds
July 5, 2022 No Responses

DMO Lists Two FGN Savings bonds

The Debt Management Office (DMO) on Monday announced the listing of two FGN savings bonds for subscription for the month of July. It stated that the first is a two-year savings bond due on June 15, 2024, at an interest...
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Union Bank Releases 2021 Citizenship, Sustainability, Innovation Report
July 5, 2022 No Responses

Union Bank Releases 2021 Citizenship, Sustainability, Innovation Report

Union Bank has released the 6th edition of its annual Citizenship, Sustainability and Innovation (CSI) report, which provides an update on the bank’s initiatives across environmental, social and economic areas during 2021.  Like previous editions, this year...
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Ardova To File 2021 Audited Financial Statement
July 3, 2022 No Responses

Ardova To File 2021 Audited Financial Statement

The Board and Management of Ardova Plc (Ardova), at the weekend, allay concerns over the recent suspension of trading of the company’s securities on the Nigerian Exchange Limited (NGX) over the late filing of its 2021 Audited Financial Statements.    The....
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FMDQ Exchange Lists Presco’s N50b Bond 
July 2, 2022 No Responses

FMDQ Exchange Lists Presco’s N50b Bond 

The FMDQ Securities Exchange Ltd has approved the listing of oil palm processing company, Presco Plc’s N50 billion bond on its platform.  In a statement issued on Friday, FMDQ said:  “Following the due diligence of the Exchange’s Board Lis...
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NGX Suspends Ardova, Niger Insurance, C&I Leasing, Others
July 2, 2022 No Responses

NGX Suspends Ardova, Niger Insurance, C&I Leasing, Others

The Nigerian Exchange Limited (NGX) has suspended nine companies, effective Friday, 1 July 2022,  having failed to file their Audited Financial Statements for the year ended 31 December 2021. The companies according to a statement from the NGX include Afr...
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Fitch Upgrades Fidelity Bank’s Issuer Default Rating From ‘B-’ To ‘B’
June 30, 2022 No Responses

Fitch Upgrades Fidelity Bank’s Issuer Default Rating From ‘B-’ To ‘B’

Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘...
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