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 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…
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%…
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 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…
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…
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…
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.…
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 0.43% and 0.44% respectively, as they both closed at 32,545.06 points and N11,881.46tr respectively. Year-to-Date ASI is at a negative of 14.95%. Volume and No of trades both decreased…
Central Bank of Nigeria (CBN) has set the minimum capital requirement of N6 billion for the operation of Mortgage Guarantee Companies (MGC) in the country. In an exposure draft posted on its website, it pointed out that the licensing of MGC would deepen the mortgage banking sub-sector, through increased market access to mortgage finance and…
