Nigerian Breweries eyes N600bn rights issue to boost capital
Post AMUGE
April 4, 2024
Joy Agwunobi Nigerian Breweries Plc, one of the leading companies in the Nigerian brewing industry, is planning to raise up to N600 billion through rights issues. The move, which is intended to tackle the negative impacts of the devaluation of the Naira and high borrowing costs on the company’s financial health, comes as the brewery […]
Noones Academy Revolutionizes Crypto Trading Education, Empowering the Next Generation of Traders
Businessam StaffApril 3, 2024
[Lagos, 15 April, 2024] – Noones Academy, a leading institution in financial education, is proud to announce its innovative approach to empowering new traders with comprehensive video content available on YouTube and Noones official website, www.noones.com. In a digital age where accessibility and flexibility are paramount, Noones Academy is breaking barriers by delivering high-quality educational […]
CBN rate hike stirs fears of more pain for Nigerian SMEs
Post AMUGEApril 2, 2024
ONOME AMUGE & JOY AGWUNOBI As small and medium-sized enterprises (SMEs) in Nigeria grapple with rising borrowing costs, the Central Bank of Nigeria (CBN) has dealt them a new blow by raising the Monetary Policy Rate yet again. While the move is aimed at curbing inflation, analysts are concerned that the higher interest rates […]
ABCON sees further naira recovery on CBN recall of BDCs to FX market
Post AMUGEApril 1, 2024
Business a.m. The Association of Bureaux de Change Operators of Nigeria (ABCON) sees the recovery of the Naira continuing on the back of the recall by the Central Bank of Nigeria of their members to the mainstream of Nigeria’s foreign exchange market. The association, therefore, commended the CBN for this decision, which it said has […]
Afreximbank, CDP sign €200m facility to boost food security in Africa
Post AMUGEApril 1, 2024
Cynthia Ezekwe In light of the persistent issue of food insecurity in Africa, the African Export-Import Bank (Afreximbank) and Cassa Depositi e Prestiti S.p.A (CDP), an Italian development finance institution, have signed a €200 million Memorandum of Understanding (MoU) to combat food insecurity and support climate-smart agriculture on the continent. The MoU was signed by […]
CBN triggers new round of banking consolidation with N500bn capital base
Post AMUGEApril 1, 2024
Onome Amuge A new round of banking industry consolidation in Nigeria that will see serious boardroom talks in the next two years has been triggered by the Central Bank of Nigeria (CBN) whose Easter 2024 gift to banks was the raising of their minimum capital requirement to N500 billion for those of them with international […]
CBN sets N500bn capital base for commercial banks with international authorisation
Post AMUGEMarch 29, 2024
Business a.m The Central Bank of Nigeria (CBN) has released new minimum capital requirements for banks, requiring commercial banks with international authorisation to have a minimum capital base of N500bn. The new capital requirements are part of the CBN’s efforts to strengthen the banking sector and ensure that banks are well-capitalised to meet the needs […]
CBN tells HoR Remita got e-collection on merit
Post AMUGEMarch 29, 2024
Justifies Remita’s role in improving payment efficiency for MDAs The Central Bank of Nigeria (CBN) has clarified its decision to select Remita, a leading Nigerian fintech company, as the platform for electronic payments from Ministries, Departments, and Agencies (MDAs), to beneficiary accounts across commercial banks, noting that it was based on merit, following queries regarding […]
Access Holdings off the blocks with N365bn rights issue capital booster
Post AMUGEMarch 28, 2024
Cynthia Ezekwe With its sights set on continued growth, Access Holdings Plc has unveiled an ambitious plan to raise N365 billion through a rights issue. The capital-raising plan, which is pending regulatory approval, is a move that is set to strengthen the company’s capital base, setting it up for even greater success in the years […]
CBN jerks up benchmark interest rate to record-high 24.75% to tame inflation
Post AMUGEMarch 26, 2024
Business a.m The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has raised the benchmark interest rate by 200 basis points to a record high 24.75 per cent, in what is considered one of its most aggressive actions to tame inflation which has been spiraling out of control in recent months. Olayemi Cardoso, […]