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…
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…
