Money Business Archives — City Business News

June 11, 2024 No Responses

Access Bank Completes Acquisition Of BancABC Tanzania

Access Bank Plc has announced the successful completion of its acquisition of African Banking Corporation (Tanzania) Limited (BancABC Tanzania), in line with its strategic expansion goals. With the successful acquisition of BancABC Tanzania by the Bank, BancABC operations will now be merged...

June 5, 2024 No Responses

FIDELITY BANK UNDERTAKES ₦29.6b RIGHTS ISSUE, ₦97.5b PUBLIC OFFER

Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer...

May 3, 2024 No Responses

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...

March 27, 2024 No Responses

CBN Raises Interest Rate To 24.75 Percent

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the...

March 21, 2024 No Responses

Access Bank To Acquire National Bank Of Kenya

Access Bank is to acquire the National Bank of Kenya from the KCB Group, its second acquisition of a Kenyan bank in under five years. After purchasing Transnational Bank Limited. in 2019, this is the Nigerian lender’s second acquisition in...

January 9, 2024 No Responses

NGX All-Share Index Crosses 80,000 Benchmark

The Nigerian Exchange Ltd (NGX) All-Share Index on Monday crossed significant 80,000 basis points to settle at 80,324.53 benchmark by earning 0.83 per cent or 660 points, as against 79,664.66 recorded on Friday. Consequently, the equity market capitalisation c...

November 2, 2023 No Responses

NGX All-Share Index Crosses 70,000 Mark

Transactions on the Nigerian Exchange (NGX) closed trading on Wednesday, November 1st, 2023, in the positive territory as the All-Share Index appreciated by 1.94% to cross 70,000 index points.  The equities market gained 1.94% as the market capitalizat...

October 6, 2023 No Responses

Exchanges Ring The Bell Globally To Support Investor Education, Protection

The World Federation of Exchanges (WFE) is organising the annual Ring the Bell for Financial Literacy, to promote awareness of the role and importance of investor education and protection – both fundamental priorities for regulated public markets. A glo...

September 13, 2023 No Responses

UBA Declares N404b PBT, 50k Interim Dividend

For the half year ended June 30, 2023, United Bank for Africa (UBA) Plc, delivered an outstanding performance as announced in its audited financial report. The results released to the Nigerian Exchange Limited (NGX) on Tuesday showed that the Group...

March 13, 2023 No Responses

Aramco Declares $161b Profit For 2022

Saudi oil giant Aramco has announced a record profit of $161.1bn (£134bn) for 2022, helped by soaring energy prices and bigger volumes. It represents a 46.5% rise for the state-owned company, compared with last year. It is the latest energy...

December 19, 2022 No Responses

SEC Approves NGX Technology Board Listing Rules

By Moses Ebosele, ebosele@hotmail.com — The Securities and Exchange Commission (SEC) has approved Rules for Listing on NGX Technology Board. The NGX Technology Board is a specialised platform for technology-based companies to...

December 9, 2021 No Responses

Nigerian Stock Market Sustains Growth By N217b

Sentiments remained positive in the domestic stock market on Wednesday with a growth of N217 billion arising from price rally recorded by MTN Nigeria Communications (MTNN) and 19 other stocks. Specifically, the market capitalisation inched higher by N217...

September 19, 2021 No Responses

Ariyo Canvasses Support For CBN’s e-Naira Initiative

A Fintech expert in Ibadan, Oyo State, Mr Olukayode Ariyo, has lauded the e-money initiative of the Central Bank of Nigeria, urging entrepreneurs to key into the new technology for profitability. Ariyo, the keynote speaker and Managing Director, Global A...

August 28, 2021 No Responses

Zenith Bank’s Profit Grows By 2.6% In Six Months

Zenith Bank Plc has posted a profit before tax (PBT) of N117.05 billion for six months as of June 30, against N114.12 billion achieved in the comparative period of 2020. This was stated in the company’s interim report signed by...