The acting Director General, Securities and Exchange Commission, Ms Mary Uduk, has announced the extension of the forbearance window for the regularisation of multiple subscriptions held by shareholders to December 2019. Uduk, while addressing journalists at the third Capital Markets Committee meeting in Lagos on Thursday, said the decision was jointly made by members of…
Equities Market The Nigerian equities Bourse touched a new low for the current month, as both NSE ASI and market capitalization decreased by 0.76% respectively, as they both closed at 31,864.80 points and N11,633.11tr respectively. Year-to-Date ASI is at a negative of 16.73%. Value of trade and No of trades both decreased by 1.80%, and…
Wapic Insurance Plc has said its gross written premium rose by 29 per cent to N10.1bn in the third quarter of 2018. A statement from the firm also said the group’s underwriting profit rose by seven per cent to N1.38bn, while its gross claims paid rose by 21 per cent to N2.76bn in the period…
Ahead of the Initial Public Offering of Skyway Aviation Handling Company Plc, the Bureau of Public Enterprises has said the 36 states of the federation and the Federal Capital Territory will be treated on an equal basis in the allotment of the shares of the company. In a statement made available to our correspondent in…
MTN Group’s dispute with Nigerian authorities over $10bn in repatriated funds and back taxes could increase risk in South Africa’s financial system depending on the outcome, the South African Reserve Bank said. The bank, in its Financial Stability Review released on Wednesday in Pretoria, said if MTN eventually repatriates the disputed amount to Nigerian authorities,…
The Managing Director, Nigeria Commodity Exchange, Mrs Zaheera Baba-Ari, has said there is a need for strong government policies to stimulate the level of trading on the commodities exchange market. Baba-Ari, who spoke with our correspondent in Abuja, also noted that the Commodity Exchange Bill, when passed into law, would boost farmers’ revenues. She said…
Equities Market The Nigerian equities Bourse close the day lower than the previous day index, as both NSE ASI and market capitalization decreased by 0.14% respectively, as they both closed at 32,108.30 points and N11,722.01tr respectively. Year-to-Date ASI is at a negative of 16.09%. Volume, Value of trade and both increased by 200.79%, and 236.45%…
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 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 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…
