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 […]
Price appreciation in banking stocks pushed the local equities market into a marginal bullish close
Charles AbuedeApril 22, 2021
Investors gain N1.8 billion as analysts anticipate a bullish close this week Charles Abuede With the marginal reign of the bulls in the domestic equities market this week, the local bourse closed flat on Thursday and was largely driven by price appreciation in the banking stocks such as UBA (+2.1%), First Bank Holding […]
FCMB shareholders approve N2.79bn dividend pot, applaud bank efficiency
Businessam StaffApril 22, 2021
Shareholders of FCMB Group Plc (www.fcmbgroup.com) have restated their confidence in the financial institution to sustain its impressive performance and deliver more value. The shareholders gave the commendation at the 8th annual general meeting (AGM) of the group held on April 21, 2021 at its corporate head office in Lagos. They also unanimously approved the […]
Polaris Bank Sustains Profit Growth with N28.9bn (PBT) in 2020 financial year
Businessam StaffApril 21, 2021
…Assets hit N1.2tr and ROA of 2.4% Polaris Bank Limited has released its full-year audited financial results for the year ended December 2020 posting a Profit Before Tax (PBT) of N28.9billion. The results which show the Bank’s second year performance scorecard after two years of operation, have further consolidated the Bank’s position as focused […]
Investors earn N88bn as buying interest in MTN, Zenith, GTBank buoyed positive performance in the equities market
Charles AbuedeApril 20, 2021
Charles Abuede The Nigerian equities market extends its positive tempo going into the third trading session resulting from buying interest in MTN Nigeria (+1.0%), Zenith Bank (+2.8%), and GTBank (+1.7%) which buoyed market performance on Tuesday as the NGX All-Share index inched up 0.43 per cent in the session to peg the bourse at 39,015.58 basis points. This outing brought the […]
Flipping “NAIRACOIN”: The legal side of Cryptocurrencies
Adetokunbo ONIKOSIApril 19, 2021
By Adetokunbo ONIKOSI AOCATERNIZ are legal consultants in the field of ICT law Borderless financial transactions are suddenly upon us and so are novel ways of storing value – money, stocks, shares, derivatives, gold bars, artworks, real estate and more recently, Cryptocurrencies, such as Bitcoin, Ripple- XRP, Binance and Ethereum. In July 2016 more than […]