Nigeria’s pension investment yields N15bn as UK repatriates fund to PTAD
Zainab Iwayemi
June 30, 2021
Nigeria has benefitted from her investment in the United Kingdom as the Pension Transitional Arrangement Directorate (PTAD) recently announced that it received £26.5 million from the United Kingdom for its investment with an investment management firm. The deal with Crown Agents Investment Management Limited based in the UK, has yielded for Nigeria, a whopping N15.1 […]
CBN targets robust, inclusive, actionable national FinTech strategy
Onome AmugeJune 30, 2021
Tasks finance stakeholders on efficient strategy Aishah Ahmad, deputy governor, financial system stability, Central Bank of Nigeria (CBN), has enjoined stakeholders in the financial sector to embrace the development of a robust, inclusive and actionable national FinTech strategy that is fit-for-purpose. Ahmad, who gave the charge recently at the kick-off of a […]
Global FDI to rise 15% in 2021 with uncertain prospects, says UNCTAD
Charles AbuedeJune 30, 2021
2020 investment inflows down 35% COVID-19 crisis to blame Developed countries largely hit A recent report by the United Nations Conference on Trade and Development (UNCTAD) has stated that the global foreign direct investment flows are expected to recover lost grounds with a 10 to 15 per cent increase in 2021 and a […]
Nigeria equities reverse loss with trading upbeat in DangSugar, FCMB, Union Bank
Charles AbuedeJune 30, 2021
An upbeat in trading activities in the shares of Dangote Sugar (+4.2%), Union Bank (+3.7%), and FCMB (+8.1%) on Tuesday helped to claw back losses in the domestic equities market resulting in a gain of about N31 billion as market capitalisation rose to N19.623 trillion from N19.592 trillion recorded in the previous day’s close. […]
GT HoldCo’s birth on NGX, LSE draws positive analysts’ call
Chris IkosaJune 28, 2021
ASAM analysts see positive revenue improvement HoldCo includes banking, asset management, PFA, GTPay, for flexibility to adapt to future opportunities Guaranty Trust Holding Company has now begun active trading on Nigeria and London stock exchanges following a process leading to the tier-1 financial institution restructuring into a financial holding company. On June 24, 2021, […]
DMO makes headway sorting Nigeria’s N5.6trn budget deficit
Charles AbuedeJune 28, 2021
N330.3bn successful claw back in June Takes advantage of strong investor demand at auction The Debt Management Office (DMO) in its quest to meet the onerous target of raising N2.34 trillion towards the projected deficit of N5.6 trillion contained in Nigeria’s federal government’s 2021 budget, has been taking bold steps to deliver on […]
Most FG’s loans to entrepreneurs end up in wrong hands – NACCIMA president
Chris IkosaJune 27, 2021
Amid tough macroeconomic environment With 21 million Nigerian unemployed The Nigerian Associations of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the umbrella body for the organized private sector in Nigeria, says most of the loans and grants approved by the Federal Government and its agencies for entrepreneurs for the improvement of the […]
OPEC celebrates Nigeria’s 50 years membership amid global oil gloom
Chris IkosaJune 27, 2021
Cartel to mark 61st anniversary in September Mohammad Barkindo, secretary-general of the Organisation of Petroleum Exporting Countries (OPEC) says Nigeria, the global oil cartel’s 11th member, needs to be celebrated, as the country marks its 50 years membership of the organization on July 12. Nigeria officially became the 11th member of OPEC on […]
Rivers State not borrowing to finance multi-billion-dollar projects
Ben EguzozieJune 27, 2021
Earns over N20bn monthly IGR Oil-rich Rivers State, says it is not borrowing any money from financial institutions, locally or offshore, to finance its multi-billion-dollar projects since 2015. Rivers, with an estimated $30 billion GDP size, is Nigeria’s second highest revenue earning sub-national, coming only behind Akwa Ibom, a fellow oil-rich state. But […]
It’s goodbye to GTBank, welcome to Guaranty Trust HoldCo on NGX
Charles AbuedeJune 25, 2021
Following the announcement of the suspension of trading on Guaranty Trust Bank’s shares on the Nigerian and London exchanges to allow the tier-1 lender officially delist from both bourses, and the listing of the holding company, Guaranty Trust Holding Company Plc, on both exchanges concurrently, as a private limited liability company under the relevant provisions […]