Volume of mobile transactions in Nigeria surged 82.6% y/y to 1.7bn in 2020, report shows
Charle AbuedeApril 17, 2021
Charles Abuede A recent report obtained from the Nigerian interbank settlement system (NIBSS) has revealed that there was an acceleration in the adoption of instant payments ports in the year 2020 as the Nigerian population transitioned to other transaction channels electronically for funds and exchange in the wake of the imposed lockdowns by the […]
NSE rebrands as the Nigerian Exchange Group; remains committed to high competitiveness in the international capital markets
Charles AbuedeApril 13, 2021
Charles Abuede Following the demutualization of the Nigerian Stock Exchange (NSE) in March 2021, a new identity of the exchange has been birthed to be known as the Nigerian Exchange Group (NGX Group) Plc, a leading integrated market infrastructure Group in Africa, and resulted in the creation of the non-operating holding company of the […]
Better days ahead! Insurance firms see big profits amid crises in 2020
Zainab IwayemiApril 12, 2021
· Prestige, Linkage, Consolidated Hallmark swim in high earnings Zainab Iwayemi The Nigerian insurance industry, for the first time in a long while, appears to present a clearer atmosphere, offering stakeholders an opportunity to have a good glance into what experts see as the bright future ahead for insurance in the country. A study […]
New SEC statement confirms equities trading on Trove, Chaka, Bamboo, as illegal
Charles AbuedeApril 9, 2021
Investment platforms seek more regulatory clarity from SEC Charles Abuede Online securities and investment trading platforms such as Trove, Bamboo, Chaka and Risevest, domiciled in Nigeria to offer the Nigerian public the unfettered access to securities of foreign and local companies listed on the Nigerian Stock Exchange and some on the international bourses […]
Bulls ruled on Thursday from buying interests in banking heavyweights as investors saw almost N4bn profit
Charles AbuedeApril 8, 2021
Charles Abuede The domestic stock market extended the bullish sentiment on Thursday as the All-Share Index rose 0.07 per cent to settle at 38,799.83 points due to buying interest in Zenith Bank (+3.8%), GTBank (+2.7%) and Access Bank (+1.9%). Consequently, market year to date loss at -3.7 per cent was sustained and market capitalisation appreciated by N3.9 billion to settle at N20.3 trillion. On the flip side, the level […]
Total value of all IPO deals in Q1’21 surged by 524%y/y to $210bn globally, statistics show
Charles AbuedeApril 7, 2021
Charles Abuede The total value of all initial public offering (IPO) deals completed in the first three months of 2021 witnessed a 524 per cent year on year growth to hit $201.1 billion in 2021, recent data presented by Buyshares and accessed by business a.m shows. Of the total value, the United States companies, […]
Linkage Assurance declares an increase in PAT by 65% for FY ’20
Zainab IwayemiApril 7, 2021
Zainab Iwayemi Linkage Assurance has improved its Profit After Tax, PAT for the fiscal year 2020 by 65 percent to reach N2 billion against the N1.5 billion it recorded the previous year while the profit Before Tax, PBT for the same year was valued at N2.5 billion, an amount depicting an 89 percent […]
Elumelu tells UBA shareholders to expect greater returns in 2021
Charles AbuedeApril 7, 2021
By Charles Abuede Tony Elumelu, the chairman of the Nigeria-headquartered pan-African financial institution, United Bank for Africa (UBA) Plc, has told the bank’s shareholders to expected greater returns on their shareholdings in the months ahead. Elumelu’s confidence is hinged on the bank of the establishment by the bank of a diversified business model that […]
Nigeria’s rising debt stock alarming at N32.92trn
Charle AbuedeApril 7, 2021
By Charles Abuede Analysts see a modest burden on debt servicing As of December 31st, 2020, the Nigerian states and federal debt stock reflected that the country’s total public debt portfolio stood at N32.92 trillion, out of which N12.71 trillion or 38.60 per cent of the debt was external while N20.21 trillion accounting […]
Kenya and Ethiopia win big at 2021 Access Bank Lagos City Marathon
Businessam StaffApril 6, 2021
Kenya’s Emmanuel Naibei and Meseret Dinke have emerged as the winners of the 2021 edition of the Access Bank Lagos City Marathon. Nabei on Saturday returned a time of 2hrs 15 mins 01 sec (official) to claim the top prize which is 30,000 USD. While the winning time falls short of the course record of […]