GTBank progresses with financial Hold-Co restructuring in Nigeria, London with CBN’s, SEC’s nod
Charles AbuedeNovember 5, 2020
By Charles Abuede Bank to delist from NSE, LSE, and re-register as HoldCo on official list of NSE, LSE concurrently Bank’s issued shares to exchange on a one-for-one basis for shares in HoldCo Guaranty Trust Bank (GTB) Plc, Nigeria’s Tier-1 lender, is progressing with its planned financial Hold-Co restructuring having obtained approval-in-principle from […]
Fidelity Bank sees 7.1% growth in PAT to N20.4bn as 9-months profit hits N21.3bn
Charles AbuedeNovember 5, 2020
By Charles Abuede Disburses N50bn of intervention funds Fidelity Bank Plc, one of Nigeria’s picturesque deposit money bank, see its profit after tax rise by 7.1 percent in the nine months ended September 2020 to N20.4 billion on the back of 3.6 percent year-on-year growth in pre-tax profit of N21.3 billion, according […]
CBN unfolds procedures for disbursement of N75bn Youth Initiative Fund
Charles AbuedeOctober 29, 2020
Charles Abuede The Central Bank of Nigeria (CBN) has released the framework for the implementation of the Nigerian Youth Investment Fund (NYIF) which will see the disbursement of N75 billion targeted at empowering Nigerian youths financially in a bid to generate five hundred thousand jobs between 2020 and 2023 under the Nigerian Youth Employment Action […]
Sterling Bank targets “Switch” at Diaspora Nigerians with free banking, financial services
Charles AbuedeOctober 29, 2020
Charles Abuede Sterling Bank, the Nigerian lender, has launched a new solution called Switch. The free money transfer service is in a bid to revolutionise international banking and allied services for Nigerians in the Diaspora. In a statement issued by the bank recently, Shina Atilola Sterling Bank’s divisional head, retail and consumer banking, said Switch, the […]
Staking is available in the Coinbox.org wallet now
Businessam StaffOctober 28, 2020
Thanks to Coinbox.org, you now have another opportunity to make money with cryptocurrencies. Just stake your coins in your crypto wallet. It’s a new feature introduced by Coinbox.org. Let us provide you with some information about staking and how it works. As you know, in all blockchains, transactions need to get validated. In most cases, […]
Access Bank, WEMA, FCMB offer to help rebuild in aftermath of #EndSARS destructions
Saviour AdugbaOctober 27, 2020
Saviour Adugba In the wake of the violence and destructions that followed days after the #EndSARS protests in Lagos and other parts of Nigeria, some Nigerian banks are offering to play their part in helping businesses affected get back on their feet. Banks like Wema Bank, Access Bank and FCMB are offering to help in […]
Stanbic IBTC’s Q3’20 revenue surges 19.1% to N66.2bn
Charles AbuedeOctober 27, 2020
Charles Abuede Stanbic IBTC Holdings Plc, has reported that its revenue for the nine months period ended 30 September, 2020 rose to N66.2 billion, up by 19.10 per cent from the N55.6 billion revenue recorded in the same period of 2019. It also reported an improvement of 4.05 per cent in its gross earnings […]
Nigeria: PMI, oil, naira in focus
Lukman OtunugaOctober 27, 2020
Lukman Otunuga, Senior Research Analyst at FXTM The outlook for Nigeria’s economy has been clouded by uncertainty following weeks of youth protests across the country. Although residents are now allowed to leave their homes after a 24-hour curfew was imposed on Lagos, the economic landscape remains incredibly fragile with businesses struggling to nurse deep wounds […]
Analysts at United Capital weigh in on billions spent by FG, CBN to rescue Nigeria’s agriculture
Charles AbuedeOctober 27, 2020
Charles Abuede Analysts at United Capital Research have, in a critical examination of the billions of naira interventions invested by the fiscal and monetary authorities to rescue Nigeria’s agriculture, declared that there is a need for Nigeria to invest in the training and education of farmers, storage facilities and transportation network, in a bid to […]
Robust system liquidity keeps money, fixed income markets order-driven
Charles AbuedeOctober 26, 2020
Charles Abuede Naira remains stable despite flurry of social unrest in the country Analysts, investors speculate if liquidity pressure would stop rates below 100bps in upcoming NTB PMA Investors may stay on the side-line in anticipation of the Primary Market Auction this week Look forward to a mixed start in the secondary market as investors […]