NSE rebrands as the Nigerian Exchange Group; remains committed to high competitiveness in the international capital markets

April 13, 2021

Charles Abuede   Following the demutualization of the Nigerian Stock Exchange (NSE) in March 2021, a new identity of the exchange has been birthed to be known as the Nigerian Exchange Group (NGX Group) Plc, a leading integrated market infrastructure Group in Africa, and resulted in the creation of the non-operating holding company of the […]

Better days ahead! Insurance firms see big profits amid crises in 2020

April 12, 2021

·        Prestige, Linkage, Consolidated Hallmark swim in high earnings   Zainab Iwayemi   The Nigerian insurance industry, for the first time in a long while, appears to present a clearer atmosphere, offering stakeholders an opportunity to have a good glance into what experts see as the bright future ahead for insurance in the country. A study […]

New SEC statement confirms equities trading on Trove, Chaka, Bamboo, as illegal

April 9, 2021

Investment platforms seek more regulatory clarity from SEC   Charles Abuede   Online securities and investment trading platforms such as Trove, Bamboo, Chaka and Risevest, domiciled in Nigeria to offer the Nigerian public the unfettered access to securities of foreign and local companies listed on the Nigerian Stock Exchange and some on the international bourses […]

Bulls ruled on Thursday from buying interests in banking heavyweights as investors saw almost N4bn profit

April 8, 2021

Charles Abuede   The domestic stock market extended the bullish sentiment on Thursday as the All-Share Index rose 0.07 per cent to settle at 38,799.83 points due to buying interest in Zenith Bank (+3.8%), GTBank (+2.7%) and Access Bank (+1.9%). Consequently, market year to date loss at -3.7 per cent was sustained and market capitalisation appreciated by N3.9 billion to settle at N20.3 trillion. On the flip side, the level […]

Linkage Assurance declares an increase in PAT by 65% for FY ’20

April 7, 2021

Zainab Iwayemi     Linkage Assurance has improved its Profit After Tax, PAT for the fiscal year 2020 by 65 percent to reach N2 billion against the N1.5 billion it recorded the previous year while the profit Before Tax, PBT for the same year was valued at N2.5 billion, an amount depicting an 89 percent […]

Elumelu tells UBA shareholders to expect greater returns in 2021

April 7, 2021

Elumelu tells UBA shareholders to expect greater returns in 2021

By Charles Abuede   Tony Elumelu, the chairman of the Nigeria-headquartered pan-African financial institution, United Bank for Africa (UBA) Plc, has told the bank’s shareholders to expected greater returns on their shareholdings in the months ahead. Elumelu’s confidence is hinged on the bank of the establishment by the bank of a diversified business model that […]

Nigeria’s rising debt stock alarming at N32.92trn

April 7, 2021

Nigeria’s rising debt stock alarming at N32.92trn

By Charles Abuede   Analysts see a modest burden on debt servicing   As of December 31st, 2020, the Nigerian states and federal debt stock reflected that the country’s total public debt portfolio stood at N32.92 trillion, out of which N12.71 trillion or 38.60 per cent of the debt was external while N20.21 trillion accounting […]