We have always played by the rules! Honeywell Group says as it reacts to First Bank – CBN face-off
Wale AmeenMay 3, 2021
…Says loan facilities adequately secured with First Bank, with collaterals in place at over 170% of Forced Sales Value and 230% at Open Market Value. Wale Ameen Online Editor The Honeywell Group has reacted to the ongoing drama going on between First Bank and Nigeria’s regulatory bank, the Central Bank of Nigeria due largely […]
Trouble looms for Oba Otudeko’s Honeywell Flour Mills as company may end up in AMCON’s beehive
Charles AbuedeApril 30, 2021
Nigeria’s Senate pass bills empowering AMCON to sell debtors’ properties used as collateral Charles Abuede More trouble looms ahead as all unfolding events are now a major pointer to what looks like Honeywell Flour Mills might end up in the Asset Management Corporation of Nigeria (AMCON) beehive as the Nigerian Senate has, during […]
Equities market closed northward from price uptick in Dangote Cement, MTN, Nigerian Breweries
Charles AbuedeApril 29, 2021
Market investors claim N355.7bn profit from trading Charles Abuede The Nigerian equities market rebounded into winning ways on Thursday with N355.7 billion gain for investors following price uptick in major equities on the trading floor. Thus, the benchmark index reversed the previous session loss, gaining 1.75 per cent to close at 39,461.20 points following price appreciation […]
NGX records N274.2bn loss Wednesday due to losses in the bellwethers and waning sentiment
Charles AbuedeApril 28, 2021
Naira appreciated 0.1% at the I&E FX market segment Charles Abuede The successive downtrends from Tuesday’s trading session was sustained by the local equities market midweek as the benchmark index declined by 1.3 per cent to close at 38,781.48 points following losses in Dangote Cement (-7.3%), International Breweries (-8.8%), and GTBank (-0.5%) which was spurred on by the waning investor […]
FMDQ reports $47.69m as total market turnover traded on its exchange in March 2021
Charles AbuedeApril 28, 2021
Charles Abuede The Financial Markets Dealers Quotations (FMDQ) has reported that a total of $47.69 million or N1.8 billion was traded as total market turnover by its dealing members in the month of March 2021 on all products traded at the FMDQ secondary market. These included the foreign exchange, treasury bills, money market (repurchase […]
Equities market reversed gains on Tuesday due to price decline in banking stocks as investors lose N6.8bn
Charles AbuedeApril 27, 2021
Charles Abuede The local equities market reversed its previous day’s gains on Tuesday as the benchmark index declined marginally by 0.03 per cent to close at 39,305.48 points while market investors lost N6.8 billion following losses in banking stocks such as GTBank (-0.5%), Access Bank (-1.3%) and UBA (-1.3%) that dragged the bourse into the south. As a result, the market year […]
CardinalStones Partners list N5bn Series I bond on the FMDQ Securities exchange
Charles AbuedeApril 27, 2021
· Company says plans are underway to list bond on the NGX Charles Abuede CardinalStone Partners Limited, a full-service investment banking firm and financial services company has made public the listing of CardinalStone Financing SPV Plc N5 billion Series I Bond on the FMDQ Securities Exchange Limited. The company, in a statement, explained […]
EFCC raises red flag on Ponzi investments, crypto, forex trading in Nigeria
Charles AbuedeApril 27, 2021
Charles Abuede The Economic and Financial Crime Commission (EFCC) has raised alarm over some fraudulent investment schemes that promise Nigerians returns that look too good to be true, saying such investments are Ponzi schemes and should be considered a red flag. Wilson Uwujaren, the EFCC spokesman said in Abuja that Nigerians are losing money […]
Contactless payments expected to hit $1.6tn by 2024
Zainab IwayemiApril 26, 2021
Zainab Iwayemi As consumers worldwide started avoiding cash for fear of spreading the virus, contactless payments technology has received the boost it needed for widespread global adoption. Data by Buy Shares shows that contactless payments are expected to continue rising worldwide to hit a $665 billion transaction value in 2021 while the impressive growth […]
Segun Agbaje: Driving GTBank to N1.3trn profit growth in 10 years
Charles AbuedeApril 26, 2021
By Charles Abuede Deploys cutting-edge strategy, service excellence Balance sheet grew by 12% annually in the last 10yrs Total assets nears N5trn in 10 years It’s just like yesterday thatSegunAgbaje took over the mantle of leadership as the managing director of Guaranty Trust Bank in 2011 following the demise of TayoAderinokun, then managing […]