Samuel Obayomi, Author at FCSL

KfW invests €31 million in InfraCredit to enhance infrastructure in Nigeria

Market NewsBy Samuel Obayomi November 7, 2018

Largest development bank in Europe, KfW Development Bank, has invested €31 million surbordinated unsecured capital in InfraCredit to enhance infrastructure investments in Nigeria. The 10-year investment, which is accompanied by a technical assistance grant to support InfraCredit’s market development and capacity building programme, would also strengthen its guarantee capacity, enable it achieve targeted capitalisation and…

C&I Leasing posts N1.2 billion profit in nine months

Market NewsBy Samuel Obayomi November 7, 2018

C&I Leasing Group has achieved gross earnings of N19.9 billion in its unaudited result for the nine months ended September 30, 2018, or 15.7 per cent rise against N17.2 billion recorded in the corresponding period of 2017. Also, the Group posted profit after tax of 1.2 billion representing 25 per cent increase over N950 million…

Unity Bank to seal deal on capital raise

Market NewsBy Samuel Obayomi November 7, 2018

Unity Bank Plc has said it is currently on the verge of finalising a memorandum of understanding (MoU) that will lead to capital injection into the bank to boost expansion and market competition. The Managing Director/CEO, Mrs. Tomi Somefun, who said this yesterday, during an interaction with journalists in Lagos, however did not give details…

Consolidated Hallmark Insurance Plans Private Placement

Market NewsBy Samuel Obayomi November 7, 2018

Consolidated Hallmark Insurance Plc (CHI) is preparing for a private placement that will inject fresh capital into the company and bring in new investors. In order facilitate the private placement, the company would be having an extra-ordinary meeting (EGM) on November 28, in Lagos, to get the approval of the shareholders will give their authorisation…

FCSL DAILY MARKET REPORT 06TH NOVEMBER, 2018

Daily Market ReportBy Samuel Obayomi November 7, 2018

Equities Market The Nigerian equities Bourse close the day higher than the previous day index as both NSE ASI and market capitalization increased by 0.33% respectively, as they both closed at 32,154.03 points and N11,738.70tr respectively. Year-to-Date ASI is at a negative of 15.97%. Volume and No of trades both decreased by 5.18% and 2.27%…

FCSL DAILY MARKET REPORT 31ST OCTOBER 2018

Daily Market ReportBy Samuel Obayomi November 1, 2018

Equities Market The Nigerian equities Bourse close the day on a high compared to previous day index as both NSE ASI and market capitalization increased by 2.12% respectively, as they both closed at 32,466.27 points and N11,882.70tr respectively. Year-to-Date ASI is at a negative of 15.15%. Volume, Value of trades and No of trades all…

Oil settles higher as stock markets gain, Saudi signals intervention

Market NewsBy Samuel Obayomi October 26, 2018

Oil prices rose 1 percent on Thursday, following the U.S. stock market higher a day after Wall Street’s biggest drop since 2011 and as Saudi Arabia’s energy minister signaled major producers may have to intervene in crude markets to support prices. Brent crude futures LCOc1 rose 72 cents to settle at $76.89 per barrel as…

China-Japan sign three-year FX swap deal to strengthen financial stability, business activity

Market NewsBy Samuel Obayomi October 26, 2018

Japan and China on Friday signed a currency swap arrangement of up to $30 billion – the largest such bilateral deal concluded by Tokyo – to strengthen financial stability and spur business activity in both countries, the Bank of Japan said. The arrangement, which takes effect on Friday and lasts until Oct. 25, 2021, will…

Nigeria, Japan trade volume hits $320m

Market NewsBy Samuel Obayomi October 26, 2018

The volume of trade between Nigeria and Japan has hit $320m, information from the Japan External Trade Organisation has revealed. The Trade Commissioner and Managing Director, Japan External Trade Organisation, Shigeyo Nishizawa, said on Wednesday that Nigeria’s import from his country in 2017 slightly decreased by 1.6 per cent to $320.8m, while export to Japan…

CBN raises capital requirements for microfinance banks

Market NewsBy Samuel Obayomi October 26, 2018

The Central Bank of Nigeria has increased the capital requirements for microfinance banks in the country in a bid to tackle the challenge of inadequate capital base in the sub-sector. The CBN announced the upward review of the minimum capital requirement in a circular dated October 22, 2018 to all microfinance banks in the country.…