Markets

Sec Cmc Q2 Lagos

Sukuk Rules Has Enhanced Issuance Process, Says SEC

The Securities and Exchange Commission (SEC) has disclosed that the release of rules on Sukuk bonds has enhanced the issuance process and fostered participation in the instrument. This was stated by Acting Director General of SEC, Ms. Mary Uduk during a two-day international capital market conference held in Lagos by the SEC in collaboration with […]

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Wigwe

Access Bank Woos Customers With New Quick Loan Scheme

One of Nigeria’s biggest bank, Access Bank Plc, has introduced Quick Loan Scheme or Payday Loan with a daily loan target of N400 million to at least 20,000 customers. On the bank’s website, they highlight that you do not need to have a salary account in Access Bank for you to access the Payday loan. […]

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Godwin Emefiele

CBN Rolls Out Penalties Against Banks, Others On Electronic Payments

The Central Bank of Nigeria has unveiled a new sets of sanctions against deposit money banks, mobile money operators, payment solution service providers and other financial institutions for electronic payment infractions. The CBN, on Tuesday, rolled out the ‘Regulations on Electronic Payments and Collections for Public and Private Sectors in Nigeria’, which it described as […]

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NSE To Launch X-Mobile For More Investors’ Participation

Nigerian Stock Exchange (NSE), has said it is  launching X-Mobile, a dynamic and user-friendly mobile app, to enhance more investors’ participation in the Nigerian capital market. The NSE mobile app which is currently in its Beta state will be launched at the 2019 NSE Market Data Workshop taking place on Wednesday, September 11, 2019, at […]

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Wigwe

Access Bank Declares 25k Interim Dividend As First Post-Merger Half Year Profits Before Tax Hits N74.1bn

Access Bank Group’s maiden post merger profits audited half year results released to the Nigerian Stock Exchange (NSE), have been impressive, showing impressive digits across all indices, a feat which has led to the bank also declaring an interim dividend of 25 kobo per share to its shareholders. A breakdown of the group’s impressive performance […]

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Acting Dg Sec Mary Uduk (1)

SEC To Shareholders: Claim Your Dividends In Defunct Afribank

The Securities and Exchange Commission (SEC) has appealled to shareholders of the defunct Afribank Plc to claim their dividends. The apex regulatory authority of the Nigerian capital market, made this call as part of its investor protection programme and as well as ensure that shareholders get the benefits of investing in the capital market. According […]

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Emefiele

CBN Outlines Conditions for Floating Of Subsidiaries, SPVs by DFIs

The Central Bank of Nigeria (CBN) has unveiled conditions for the establishment and operations of subsidiaries and special purpose vehicles (SPVs) by Development Finance Institutions (DFIs). The Bank in a letter to all DFIs that was signed by its Director, Other Financial Institutions Supervision Department, Mrs. Tokunbo Martins, a copy of which was posted on […]

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Nnamdi Okonkwo

Fidelity Bank Records 16% Increase In Half Year Profits

Nigeria’s major lender, Fidelity Bank Plc has delivered a strong financial performance in its first half year ended financial year, with a record double-digit growth in key revenue while it also recorded significant traction in digital banking, despite the country’s challenging and fiercely competitive business environment. Details of the audited half-year result for the period […]

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Uba

UBA Grows Half Year Profits By 21%, Pays Shareholders N0.20 Interim Dividend

Pan African financial institution, United Bank for Africa Plc has announced impressive growth across key performance indices, following significant contributions from its African subsidiaries to the institution’s audited half year ended June 2019 financial results. In spite of the increasingly unpredictable environment witnessed in some of its countries of operations, the pan African financial institution […]

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CBN, Bankers’ C’tte Back Unpaid Loans Recovery From Deposits In Other Banks

In the bid to check abuses over bank loans as well as assist money deposit banks in the country that are yet to meet the required Loans to Deposit Ratio (LDR) of 60 per cent by September 30, the Bankers’ Committee has agreed that, loan defaulters would henceforth be made to forfeit their deposit assets […]

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Ms Mary Uduk.

SEC’s E-Dividend net captures 2.7m Shareholders -Set To Release Commission’s Account

The Securities and Exchange Commission (SEC), the apex capital market regulatory authority has said that its e-dividend initiative has been  a huge success, as a total number of 2.7 million accounts of shareholders has been mandated for transmission to the platform as at Thursday August 22, 2019. Similarly, the commission’s account, which has not not […]

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Pricewaters

Remittances To Nigeria To Hit $34.8bn In 2023

Multinational professional auditing firm, PriceWaterhouse Cooper (PwC), has predicted that diaspora remittances to Nigeria is expected hit $25.5 billion by the end of the year and $34.8 billion by 2023. The firm expressed belief that such inflow would continue to strengthen the Nigerian economy in the coming years. According to PwC’s latest White Paper Series, […]

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