NAICOM sensitizes MDAs on adequate insurance coverage for government assets, liabilities
Zainab IwayemiMarch 30, 2021
Zainab Iwayemi The National Insurance Commission, NAICOM has commenced an awareness program to sensitize various ministries, departments and agencies (MDAs) on the importance of insurance and how it can help protect government assets and liabilities in the event of loss. The Commissioner for Insurance, Sunday Thomas disclosed this during a workshop on Market Development […]
NAICOM calls for aid in completing 3-decade-old CIIN office building
Zainab IwayemiMarch 30, 2021
Zainab Iwayemi The National Insurance Commission, NAICOM has appealed to all operators in the insurance industry to assist in the completion of the Chartered Insurance Institute of Nigeria, CIIN office building in Victoria Island, foundation of which was laid over thirty years ago. The Commissioner for Insurance, Sunday Thomas, made this appeal when commissioning […]
Digital banker, V Bank, unfold 3.0 App to kick off new financial year
Online EditorMarch 27, 2021
250,000 individuals, corporates signed on platform V Bank, Nigeria’s foremost fully digital bank unveiled new and better features of its app at a recent online briefing to kick off the financial year, as well as promote ease of use for its customers. The new app, Version 3.0, boasts of exciting features including Cardless Withdrawals, Multiple […]
Stocks edge higher on Thursday as buying interest in banking and ICT indices fuelled N106.5bn profit for investors
Charles AbuedeMarch 25, 2021
Charles Abuede The consecutive positive tides continued in the market for a second straight session as a result of the impressive corporate earnings and buying interest in Stanbic IBTC (+9.2%), MTN Nigeria (+1.2%), and GTBank (+0.5%). This fuelled the NSE- All-Share Index to rise 0.53 per cent to 39,293.14 points while the market year to date loss improved to -2.4 […]
GTBank in acquisition talks with Kenyan lender in continent-wide expansion drive
Charles AbuedeMarch 25, 2021
Awaits regulatory approval to transition into financial HoldCo by H1 2021 Charles Abuede Nigeria’s biggest lender, Guaranty Trust Bank, has entered into discussions to acquire a Kenyan lender as part of its expansion on the continent, according to Segun Agbaje, the bank managing director. It can be recalled that in early November 2020, […]
SEC Re-introduces periodic registration renewal for CMOs to reduce unethical market practices
Charles AbuedeMarch 25, 2021
Charles Abuede With a concerted effort aimed at bringing to the low the incidences of unethical practices by capital market operators (CMOs), the Securities and Exchange Commission (SEC) has re-introduced the periodic renewal of registration by the CMOs. The regulator said the move was aimed at having a reliable data bank of all CMOs […]
The bulls reign with price appreciations in DangCement, MTN, Stanbic to give investors N199.2bn
Charles AbuedeMarch 24, 2021
Charles Abuede At the close of trading at the domestic equities market on Wednesday, the run-up in the prices of top counters resulted from the spate of upbeat earnings releases brought about an upturn courtesy of strong buying interest in Dangote Cement (+2.3%), MTN Nigeria (+2.4%), and Stanbic IBTC (+10.0%) weighed positively on Wednesday’s performance. Thus, the All-Share […]
CBN introduces new FX policy to increase forex availability and preserve external reserves
Charles AbuedeMarch 24, 2021
Policy shows bank is shifting to flexible exchange rate management Charles Abuede Nigeria is now gradually and tenderly tilting its exchange rate management to a flexible rate regime from a managed float just in consonance with the allusion by Nigeria’s Finance Minister, who on Monday said the nation is adopting a new flexible […]
Bearish sentiment returns in local bourse with price decline in major market tickers; investors lost N9.4bn
Charles AbuedeMarch 23, 2021
Nigerian naira stays calm in the streets but appreciates in the I & E window Charles Abuede The Nigerian Equities Market had a marginally negative outing in Tuesday’s session due to the profit-taking witnessed across top tickers while Price declines in Zenith Bank (-2.2%), ETI International (-5.9%) and Flour Mill (-2.4%) dragged performance in the market. Consequently, the benchmark index declined […]
Imo orders MDAs to channel all official payments via TSA
Dikachi Franklin, in OwerriMarch 19, 2021
*Receives COVID-19 vaccines Dikachi Franklin, in Owerri Imo State government has directed all its ministries, departments and agencies (MDAs) to stop receiving payments as all payments should now be done via the Treasury Single Account (TSA), a payment system that puts government accounts into one block account, thereby assisting in pluck cash leakages. […]