By: Dele Adelaja, At about N13.595bn which belongs to the Nigerian Ports Authority (NPA) is held in three commercial banks and the Treasury Single Account (TSA) in the Central Bank of Nigeria (CBN). According to report, Of which about $24.1million (N9.399billion at N390 to a dollar) of the sum was lodged with Heritage Bank. Nothing was said […]
Read More
By: Bisola Adeola, Mr. Demola Banu, a Kwara State Commissioner for Finance, has said the continued depreciation of Naira is negatively affecting banks, other financial institutions and the whole economy at large. He also said it was increasing loan default by bank customers, adding that many micro-finance banks in Nigeria that did not attach loans with securities […]
Read More
No fewer than four commercial banks yesterday disbursed the first batch of diaspora inflow-related foreign exchange (forex) to over 350 bureaux de change (BDCs), as directed by the Central Bank of Nigeria (CBN). United Bank for Africa (UBA) Plc, First Bank, Fidelity Bank Plc and Ecobank Nigeria Limited, sold the regulatory $30,000 weekly to each […]
Read More
Investors at the Nigerian Stock Exchange (NSE) on Friday crossed 190.68 million shares valued at N1.33 billion in 2,978 deals. This development was in contrast to a turnover of 243.61 million shares worth N2.56 billion traded in 3,647 deals on Thursday. An analysis of the activities revealed that Diamond Bank emerged the most-traded in volume […]
Read More
The market capitalisation of the Nigerian equities market on Thursday shed N49 billion, in spite of the 25k interim dividend announced by Zenith Bank for the half-year ended June 30. The News Agency of Nigeria reports that the market capitalisation lost N49 billion or 0.51 per cent, to close at N9.369 trillion, as against the […]
Read More
The NSE market capitalisation advanced by N52bn at the close of trading on the Exchange’s floor on Wednesday after recording losses of various degree on 21 stocks. The market capitalisation appreciated to N9.418tn from N9.366tn recorded on Tuesday; the NSE All-Share Index also rose to 27,421.83 basis points from 27,272.14 basis points. A total of […]
Read More The naira closed at 312 against the dollar on Tuesday in a single interbank market trade of $100,000, Thomson Reuters data showed. The local currency was offered at 313 to the dollar and a total of $3.11m had been traded by 1230 GMT. The local currency closed at 312.50 against the dollar, the FMDQITC website […]
Read More
The African Development Bank (AfDB) has approved a $9million equity investment in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agric small and medium-sized enterprises (SMEs), according to a statement issued by continental lender yesterday. The statement said FAFIN is a first-generation private equity fund that provides financial, capacity-building and […]
Read More
The Federal Government may investigate the N1 billion power equipment which was abandoned at bonded terminals in Lagos, correspondent has learnt. Their abandonment is believed to have stalled the power projects in some states. According to report, a senior official of the Federal Ministry of Transportation said over 200 containers laden with the equipment belonging to the defunct Power […]
Read More Authorities at the Nigerian Stock Exchange (NSE) have placed 62 companies under caveat with various tags, drawing investors’ attention to underlying inadequacies in their operations. In a report by NSE showing the list of companies marked out for corporate governance issues indicated that the 62 firms have subsisting deficiencies, representing about 35 per cent of the […]
Read More The total assets under the Contributory Pension Scheme rose from N5.3tn in December last year to N5.729tn at the end of June. The funds, which stood at N4.6tn in December 2014, include the total amount contributed by the subscribers, the investments and profits generated. Figures obtained from the National Pension Commission on Friday showed that […]
Read More The Nigerian equity market on Friday ended on a negative note with the market capitalisation dropping by N112 billion due to huge losses by some highly-capitalised stocks. The market capitalisation which opened at N9.531 trillion shed N112 billion or 1.17 per cent, to close at N9.419 trillion. Also, the All-Share Index dipped 325.48 points or […]
Read More
