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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.
Category: Capital Market/Banking
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...
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...
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,...
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....
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...
Analysts Place “Buy” On Fidelity Bank
Highly-rated, independent investment advisory firms have picked Fidelity Bank as a very attractive stock with potential to generate high returns for investors. Independent investment research reports by many market pundits reviewed at the weekend showed that F...
NGX Lists N4.075b AVA Infrastructure Fund
Nigerian Exchange (NGX) Limited on Friday listed N4.075 billion of AVA Infrastructure Series 1 Fund on its trading platform. A statement signed by the head, Issuers Regulation Department of NGX, Godstime Iwenekhai explained that “trading lic...
FG N450b Bonds For Subscription
The federal government, through the Debt Management Office (DMO), has offered three FGN bonds valued at N150 billion each for subscription at N1,000 per unit. According to a release by the DMO, the first offer is the five-year reopening of...
CBN Directs Banks To Charge 0.5% Cybersecurity Levy
The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions. This was contained in a circular dated May 6, 2024 by the apex bank to all commercial, merchant,...
CPPE Implores CBN On Quarterly FX Rate For Customs
The Centre for Promotion of Public Enterprise, (CPPE) has asked the Central Bank of Nigeria (CBN) to adopt a specific quarterly exchange rate for import duty collection as a measure towards addressing the problems associated with frequent changes in customs...
Transcorp Group Sustains 173% Revenue Growth, N45b PBT
Transnational Corporation Plc conglomerate, with investment in the Power, Hospitality, and Energy sectors, has announced Q1 financial results for the period ended March 31, 2024. In its Q1 2024 unaudited results, Transcorp reported year-on-year growth, wi...
NCDMB Receives N450m Interim Dividend From Waltersmith Modular Refinery
The Nigerian Content Development and Monitoring Board (NCDMB) announced on Monday that it had received an interim dividend payment of N450 million out the N1.5billion declared by the Waltersmith Refinery and Petrochemical Company Limited. This payment rep...
Q1: Seplat Energy Declares US 3 Cents Dividend
Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has announces its unaudited results for the three months ended 31 March 2024, declaring US 3 Cents dividend per share for....