FMDQ attracts N801.6bn in CPs, N299.45bn in bonds in FY20
Charles Abuede
February 10, 2021
By Charles Abuede Market had a total of 67 issuers Top 5 market sponsors: Stanbic IBTC Capital = N672.09bn Chapel-Hill Denham Advisory = N261.56bn FBNQuest Merchant Bank = N198.14bn FCMB Capital Markets = N149bn UCML Capital Markets = N70bn Nigeria’s financial market powerhouse, FMDQ Securities Exchange, attracted quotations worth N801.6 billion in commercial papers […]
Global Food Price Index in January hits seven-year high
Onome AmugeFebruary 10, 2021
By Onome Amuge Global food commodity prices in January 2021, led by cereals, vegetable oils and sugar, recorded their highest level since July 2014, the Food and Agriculture Organisation (FAO) of the United Nations reported has reported. The FAO’s Food Price Index, which monitors and records monthly changes in the global prices of commonly-traded […]
NESG canvasses investment-led growth in Nigeria 2021 outlook
Ben EguzozieFebruary 10, 2021
Says size and direction of investment are crucial Country must boost aggregate demand, improve aggregate output Predicts 2.9% GDP growth in 2021 to 2.9 by 2025 Unemployment, poverty rates are sticky downwards The Nigeria Economic Summit Group (NESG), foremost private sector-led think tank, released its macroeconomic outlook 2021 for Nigeria, in which it is strongly […]
Nigerian business owners laud 50% decrease in minimum tax return of turnover – PwC survey
Charles AbuedeFebruary 10, 2021
By Charles Abuede 92% of the public support the 2020 Finance Act A recent survey conducted by PricewaterhouseCoopers (PwC), a leading professional services firm in Nigeria, has shown that there is an overwhelming 92 per cent public support for Nigeria’s Finance Act 2020, just as majority of respondents was most excited about the reduction […]
Nigeria has quickly become Africa’s biggest crypto market
Harshal GollenFebruary 10, 2021
By Harshal Gollen The cryptocurrency revolution has spread rapidly all over the world, and Africa is no exception. However, it is curious to see that one African country is as large as the rest of the continent combined, when it comes to cryptocurrency transactions and business. Nigeria is leading the continent for cryptocurrency transactions, especially […]
NESG canvasses investment-led growth in Nigeria 2021 outlook
Ben EguzozieFebruary 8, 2021
Says size and direction of investment are crucial Country must boost aggregate demand, improve aggregate output Predicts 2.9% GDP growth in 2021 to 2.9 by 2025 Indicators point economy was in dire straits pre-Covid Unemployment, poverty rates are sticky downwards The Nigeria Economic Summit Group (NESG), foremost private sector-led think tank, released its […]
Nigeria central bank bans banks from crypto, virtual currency transactions
Charles AbuedeFebruary 5, 2021
By Charles Abuede The Central Bank of Nigeria (CBN) has banned Nigerian banks and other financial and non-financial institutions from dealing in cryptocurrency and other virtual currencies, as well as facilitating exchange or trade using virtual currencies. In a circular, the apex bank cautioned banks, other financial and non-financial institutions and the general public […]
AMCON moves to recover N7.6bn loan from Enugu school
Chris IkosaFebruary 4, 2021
But deploys unprofessional molestation of school’s staff The nation’s toxic bank, Asset Management Corporation of Nigeria (AMCON), moved into the premises of Providence High School, Independence Layout, Enugu, to implement a court order, which asked it to secure possession of landed assets of the school. The school, a private female boarding school […]
Nigeria’s oldest banking group, FBN Holdings, sees profits up 8.2% to N79.7bn, amid pandemic
Charles AbuedeFebruary 2, 2021
By Charles Abuede Operating profit surged to N78bn despite selling FBN Insurance in 2020 Nigeria’s foremost banking group, First Bank of Nigeria Holdings, over the weekend filed its full-year 2020 earnings results reporting an 8.2 per cent surge in its profit for the year from continued operations to N79.7 billion from N73.7 billion recorded […]
Nigeria lenders lead west, central region in Africa’s top 100 banks 2020 rankings
Ben EguzozieJanuary 28, 2021
Zenith Bank stays as top performer with Tier-1 capital up 18% to $2bn W’African banks jostle for positions as Gabon’s BGFI only entry from Central Africa Nigerian lenders stay top performers of the West and Central African (WCA) regional ranking in this year’s survey of Africa’s top 100 Banks, showing only few […]
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FG strives to reform ICT sector, says NCC
Frontpage November 2, 2019