$8.1b remittance: MTN no longer to reverse historical dividend payments – CBN

The Central Bank of Nigeria has announced the resolution of its dispute with MTN Communications Limited, saying the company will now atone only for the illegal remittances on preference shares issued in 2008. Isaac Okorafor, CBN’s spokesman and director of corporate communications, announced the breakthrough in a statement published on the bank’s website on Monday. […]

Government revenues drop by N32.5bn, as national, sub-nationals share N812.7bn for November

Nigeria recorded N32.533 billion shortfalls in gross statutory distributable revenues for the month of November 2018, the Federation Accounts Allocation Committee (FAAC) has said. FAAC confirmed in its communiqué at the end of its last monthly meeting for the year 2018 on Wednesday that the gross statutory distributable revenue was N649.629 billion in November, lower […]

New cost elements as hindrance to deflating unclaimed dividend funds

It is still a long, winding road ahead to to the pleasure and company of the bales of money locked up in the unclaimed dividend fund for the thousands of retail investors who are encumbered by the cumbersome process involved and the cost of accessing the money. Lying idle in the unclaimed dividend fund is […]

SEC unveils digital revolution securities trading

The technological trading revolution at the Nigeria Stock Exchange continued on the upward trajectory as the Securities and Exchange Commission (SEC) inaugurated a Fintech  committee to come up with a FinTech roadmap for the Nigerian capital market. The Committee, which is to operate under the purview of the Capital Market Committee (CMC), has Ade Bajomo, […]