The Central Bank of Nigeria has said it will review its decision on the $2.632bn regulatory fine it imposed on Stanbic IBTC Bank Plc on the basis of the Certificates of Capital Importation to MTN Nigeria Communications Limited. Stanbic IBTC Holdings Plc, in a statement to the Nigerian Stock Exchange on Monday, said the CBN…
The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the Nigerian economy are putting the country’s exit from recession under threat. Nigeria’s economy exited recession in 2017 after suffering contraction for five consecutive quarters. The CBN Governor, Mr Godwin Emefiele, is quoted to…
Agusto & Co. has assigned an “A-” rating on Union Bank of Nigeria Plc’s series 1 and series 2 combined N13.5 billion fixed rate senior unsecured issue. The issue was under the bank’s 2018 registered N100 billion Debt Issuance Programme. According to a statement from the Pan-African rating agency, the issue was senior to other…
The shareholders of Lafarge Africa Plc on Tuesday approved the proposal by the company to raise N90 billion via a Rights Issue and the restructuring of its outstanding short term $315 million shareholder loans. With its ambition to grow in Nigeria, Lafarge Africa decided to raise additional capital. And at an extra-ordinary general meeting (EGM)…
Equities Market The Nigerian equities market, resuscitated from previous day lost position, as both NSE ASI and market capitalization appreciated significantly by 2.04% respectively, as they both closed at 33,114.44 points and N12,089tr respectively, at today’s trading activity. Year-to-Date ASI is at a negative of 13.46%. Volume and No of trades both increased by 17.00%…
Equities Market The Nigerian equities market, open the new trading week on low at today’s trading activity. Both NSE ASI and market capitalization decreased by 0.27% respectively, as they both closed at 32,451.27 points and N11,847.22tr respectively. Year-to-Date ASI is at a negative of 15.19%. Volume and Value of trades both decreased by 63.59% and…
ECOMOMY Nigeria records $45.7bn investments in six months The Nigerian economy recorded a total investment commitment of $45.7bn in various sectors of the economy within the first six months of this year. Figures obtained from the Nigerian Investment Promotion Commission showed that the $45.74bn investment commitments were made for 42 projects in nine states and…
The Nigerian National Petroleum Corporation has said that it recorded a trading surplus of N17.16bn in April. The Group General Manager, Public Affairs, NNPC, Mr Ndu Ughamadu, said this in a statement made available to our correspondent in Abuja on Thursday. According to him, the surplus is part of the highlights of the corporation’s Monthly…
The shareholders of Honeywell Flour Mills Plc have approved a dividend payment of 60 kobo for every 50 kobo ordinary share, amounting to a total of N475.8m for the 2018 financial year. The Chairman, Board of Directors, Honeywell Flour Mills, Dr Oba Otudeko, while speaking at the company’s 9th Annual General Meeting in Lagos on…
Equities Market The Nigerian equities market, closed on a high at yesterday’s trading activity. Both NSE ASI and market capitalization increased by 0.33% respectively, as they both closed at 32,480.89 points and N11,858.03tr respectively. Year-to-Date ASI is at a negative of 15.12%. Volume, Value of trades and No of trade all appreciated by 18.74%, 32.10%…
