SEC urges pseudo investors to regularise, assures no penalty in complying

SEC

Mary Uduk, the acting director general of the Securities and Exchange Commission (SEC) has assured investors who had bought shares in different names and involved in pseudos transactions that they would not be penalize if they come forward to regularise their accounts. To this end, she urged investors who bought shares of the same company […]

Land Use Act, biggest threat to agricultural growth in Nigeria – AFEX boss

AFEX

Ayodeji Balogun, the country manager for AFEX commodities exchange, Nigeria’s first private commodities exchange, has decried the policy inertia by government on the current Land Use Act, which he said is hampering the growth of the country’s agricultural sector. Balogun who said the lack of the right infrastructure to support farmers remains a big concern […]

Phillips Consulting introduces Intellect Digital Core banking solution into Nigeria financial system

Phillips Consulting

Phillips Consulting Limited (PCL), leading management consulting firm, has announced the introduction of a cutting-edge technology, Intellect Digital Core banking solution into the Nigerian banking industry. A statement said the new solution would transform and revolutionise the Nigerian financial sector, adding that the feat was achieved in collaboration with Intellect Design Arena Limited, a global […]

18th FGN savings bond offer closes August 10

Bond

The eighteenth tranche of the Federal Government of Nigeria Savings Bond (FGNSB), which began Monday, will close Friday, August 10, 2018. The August 2018 offer is a 2 and 3-year tenor bond with a yearly interest rate on the 2year FGNSB set at 10.668 percent while the interest rate on the 3year FGNSB is 11.668 […]

FirstBank obtains approval to redeem $300m bond

NASD, Bond, First Bank

First Bank Nigeria Plc., have announced payment to bondholders in a bid to redeem its $300 million 8.25 percent subordinated notes, which was issued in 2013 having obtained the necessary approval. The announcement comes as a follow up to a notice given on Friday 6th July 2018 to FBN Finance Company B.V. stating the bank’s […]

FX market to remain stable in the aftermath of foreign investors’ exit

Forex Market, Naira

The Nigerian foreign exchange market is projected to remain stable if foreign investors finally exit the market as has been projected on rising rates in the advanced economies, especially in the United States. Currency market analysts, who spoke to business a.m. said the foreign exchange market would be unshaken, particularly in the short to medium […]

WhatsApp banking: Path to financial inclusion in Nigeria?

WhatsApp

The need to stay competitive and make financial servicing easily accessible to consumers has driven financial institutions across Africa such as United Bank for Africa, First Bank, Guaranty Trust Bank and Absa Bank in South Africa to leverage an ‘experienced’ partnership between WhatsApp and Clickatell- one of WhatsApp business solution providers. “These banks with the […]