Category: Capital Market/Banking

Investors Lose N371b In One Trading Session
March 10, 2021 No Responses

Investors Lose N371b In One Trading Session

Investors on the Nigerian Stock Exchange (NSE) on Tuesday lost N317 billion in a trading session amid sell pressure on bellwethers.  Specifically, the market capitalisation which opened at N20.612 trillion shed N371 billion or 1.80 per cent to close at...
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First Bank Rewards Customers With Extra N5 For Every Dollar Received
March 9, 2021 No Responses

First Bank Rewards Customers With Extra N5 For Every Dollar Received

First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider is rewarding customers with N5 for every dollar received through foreign remittances.  A statement explained that the N5 for a dollar incentive is paid to FirstB...
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UBA Strengthens E-Banking With New Mobile App
March 9, 2021 No Responses

UBA Strengthens E-Banking With New Mobile App

Pan African financial institution, United Bank for Africa (UBA), Plc is set to change the face of digital banking services with its new mobile banking app aimed at delivering first-rate services to customers.  A statement explaine...
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SEC Nigeria, AfDB Seal $400,000 Grant Agreement
March 8, 2021 No Responses

SEC Nigeria, AfDB Seal $400,000 Grant Agreement

The Securities and Exchange Commisssion (SEC) has signed $400,000 grant agreement with African Development Bank  (AfDB) a part of measures to strengthen securities market regulation and broaden market instruments.   Speaking during the virt...
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FirstBank Unveils First SME Account
March 8, 2021 No Responses

FirstBank Unveils First SME Account

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its SME specific accounts designed to reinforce the Bank’s role in putting SME’s at an advantage whilst contributing to national growth and ...
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CBN Introduces N5 Per Dollar Reward For Diaspora Remittances
March 7, 2021 No Responses

CBN Introduces N5 Per Dollar Reward For Diaspora Remittances

The Central Bank of Nigeria (CBN) on Saturday introduced a new incentive to encourage inflow of diaspora remittances.  The incentive, tagged “Naira 4 Dollar Scheme”, was announced in a circular signed by Saleh Jibrin, CBN ‘s Director, Trade and Exch...
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Emefiele Woos Investors, Promises CBN’s Support
March 6, 2021 No Responses

Emefiele Woos Investors, Promises CBN’s Support

The Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele, has advised indigenous and multinational firms to consider the opportunities that Nigeria offers and begin to set up their manufacturing lines in Nigeria.  Emefiele gave the advice at.....
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FirstBank Unveils First Global Transfer To Ease Cross-Border Payments
March 6, 2021 No Responses

FirstBank Unveils First Global Transfer To Ease Cross-Border Payments

First Bank of Nigeria Ltd has unveiled First Global Transfer (FGT) to promote international transfer of funds across its subsidiaries in sub-Saharan Africa.  FirstBank Chief Executive Officer, Dr Adesola Adeduntan, disclosed this in a statement on Friday....
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Nigerian Stock Market Extends Loss By N83b
March 5, 2021 No Responses

Nigerian Stock Market Extends Loss By N83b

The Nigeria Stock Exchange (NSE) on Thursday extended negative trend for the third consecutive trading session following sell pressure on Nigerian Breweries, Dangote Sugar Refinery and tier-1 banks.  The All-Share Index on Thursday declined further by 157...
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Market Capitalisation drops Further By N123b
March 3, 2021 No Responses

Market Capitalisation drops Further By N123b

Transactions on the Nigeria Stock Exchange (NSE) closed on Tuesday on a negative note, due to price depreciation posted by Nestle and other 25 stocks.  Consequently, the benchmark index declined by 233.81 or 0.59 per cent to 39,697.62 from 39,931.63...
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SEC: Ponzi Schemes, Threat To Investor Protection
March 3, 2021 No Responses

SEC: Ponzi Schemes, Threat To Investor Protection

The continued activities of Ponzi schemes have been described as a threat to the protection of investors, the functioning of a fair and orderly financial market as well as the development of the economy at large.  Director General of the...
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Nestle Declares N60.50 Final Dividend For 2020
March 3, 2021 No Responses

Nestle Declares N60.50 Final Dividend For 2020

For the 2020 financial year, Nestlé Nigeria Plc has reported revenue of N287.08 billion. The company’s audited result released on the Nigerian Stock Exchange showed that the revenue was higher by 1.1 per cent in contrast with N284.04 billion recorded...
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Seplat Petroleum Declares $530.5m Revenue In 2020, Recommends $58m For Dividend
March 2, 2021 No Responses

Seplat Petroleum Declares $530.5m Revenue In 2020, Recommends $58m For Dividend

Seplat Petroleum Development Company Plc,Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has announced its audited results for the financial year ended 31 December 2020, recording a reve...
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Greenwich Merchant Bank Appoints Bayo Rotimi MD/CEO
March 2, 2021 No Responses

Greenwich Merchant Bank Appoints Bayo Rotimi MD/CEO

Greenwich Merchant Bank Limited, financial services provider with focus on high-end financial products and services to select clientele in targeted sectors of the economy and with operations covering Corporate Banking, Private Banking, Investment Banking, Asse...
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