Tag: Stock Market

Moody’s, Augusto rate Heritage Bank high on strong capitalisation, asset quality
August 29, 2016 No Responses

Moody’s, Augusto rate Heritage Bank high on strong capitalisation, asset quality

Two foremost rating agencies, Moody’s and Augusto & Co. recently affirmed that Heritage Bank’s capitalization remains sound in relation to its low asset risk model and has capacity to generate income from its core business and settle its obligation as...
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Skye Bank, Fidelity, FBN, others sustain sliding profile
August 26, 2016 No Responses

Skye Bank, Fidelity, FBN, others sustain sliding profile

For the second day, investors on the floor of the Nigerian Stock Exchange (NSE) have continued to dump the shares of Banks suspended from participating in Foreign Exchange (Forex) transactions by the Central Bank of Nigeria (CBN).   The restriction...
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UBA proposes 20 kobo interim dividend for half year
August 26, 2016 No Responses

UBA proposes 20 kobo interim dividend for half year

United Bank for Africa Plc (UBA) has announced its audited 2016 Half Year Financial Results for the period ended 30 June 2016, showing the bank recorded gross earnings of N166 billion, net operating income of N109 billion and profit before...
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Shareholders of Diamond Bank, FCMB, others lose N8.1B over non-remittance of funds
August 25, 2016 No Responses

Shareholders of Diamond Bank, FCMB, others lose N8.1B over non-remittance of funds

The Foreign Exchange (FOREX) restriction order placed on Diamond Bank Plc, First City Monument Bank Plc (FCMB) and others by the Central Bank of Nigeria (CBN) reverberated yesterday on the floor of the Nigerian Stock Exchange (NSE).     Two of...
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Forex: CBN re-admits UBA
August 25, 2016 No Responses

Forex: CBN re-admits UBA

The Central Bank of Nigeria (CBN) has re-admitted United Bank for Africa (UBA) into the Foreign Exchange Market.  A statement issued by UBA dated August 24, 2016 said: “Further to our press statement of yesterday (Tuesday), we are pleased to...
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Non-Performing loans in Banks hit N649.63b
August 25, 2016 No Responses

Non-Performing loans in Banks hit N649.63b

Non-Performing Loans (NPL) in Banks is now N649 Billion, an increase of 78 per year-on-year from May, 2015.   In his presentation at the third National Credit Reporting Conference organised by the Credit Bureau Association of Nigeria (CBAN) in Lagos, the...
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CBN suspends First Bank, Diamond, others from forex transactions
August 24, 2016 No Responses

CBN suspends First Bank, Diamond, others from forex transactions

Citing non-remittance of all outstanding Nigerian National Petroleum Corporation (NNPC) funds in their vaults into the Treasury Single Account (TSA), the Central Bank of Nigeria (CBN) has  suspended nine banks from further dealing in foreign exchange transact...
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‘UBA has remitted all NNPC/NLNG Dollar deposits into TSA’
August 24, 2016 No Responses

‘UBA has remitted all NNPC/NLNG Dollar deposits into TSA’

The United Bank for Africa (UBA) has remitted into the Single Treasury Account (TSA) domiciled at the Central Bank of Nigeria (CBN) all dollar deposits belonging to the Nigerian national Petroleum Corporation (NNPC)/Nigerian Liquefied Natural Gas Company (NLNG...
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All set for NSE, Bloomberg 2nd CEO Roundtable
August 24, 2016 No Responses

All set for NSE, Bloomberg 2nd CEO Roundtable

The Nigerian Stock Exchange (NSE) in collaboration with Bloomberg is set to host the 2nd NSE Bloomberg Chief Executive Officer (CEO) Roundtable Event on Wednesday, 31st August 2016 at the Stock Exchange House, Marina, Lagos.  According to a statement, the...
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Manufacturers to get 60% forex
August 23, 2016 No Responses

Manufacturers to get 60% forex

Still in search of a healing balm for the economy, the  Central Bank of Nigeria (CBN) has directed  Authorised Dealers (banks) to allocate 60 per cent of their  Foreign Exchange, (forex) purchases from all sources (interbank inclusive) to  manufacturers an...
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Maersk Line, CCS seal Cooperation Deal
August 23, 2016 No Responses

Maersk Line, CCS seal Cooperation Deal

Danish shipping company Maersk Line has entered into a Memorandum of Understanding (MOU) with China Classification Society (CCS) on technical exchanges. Under the agreement, signed on August 16, Maersk and CCS are set to start technical exchanges and cooperat...
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Emefiele emerges President of African Central Banks
August 21, 2016 No Responses

Emefiele emerges President of African Central Banks

(NAN) The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been elected President of the Association of African Central Banks (AACB). Mr. Emefiele, who was elected at the 39th Ordinary meeting of the Assembly of Governors of...
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FCMB blames NPA for non-remittance of funds
August 19, 2016 No Responses

FCMB blames NPA for non-remittance of funds

By Moses Ebosele –     The management of First City Monument Bank (FCMB) has admitted receiving Euro payments for Nigerian Ports Authority (NPA).   Briefing the Nigerian Stock Exchange (NSE) in a statement obtained by City BusinessNews (www.citybusin...
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Buhari tasks African Central Banks on repatriation of stolen funds
August 19, 2016 No Responses

Buhari tasks African Central Banks on repatriation of stolen funds

President Muhammadu Buhari has urged African Central Banks to play crucia role in the repatriation of stolen funds.   Speaking at a meeting of the association of central bank governors in Abuja, Buhari called for the removal of all bureaucracies...
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