The shareholders of United Bank for Africa (UBA) Plc have expressed optimism that the bank’s N239.4 billion rights will be fully subscribed following their interest to buy more shares in the pan-Africa banking group. UBA has opened acceptance list for a N239.4 billion rights issue, offering 6.84 billion ordinary shares […]
Category: Financial Market
Financial Market
Market Regulation: Senate Passes ISB 2024
In a major boost to the operations of the Securities and Exchange Commission and the Nigerian capital market, the Senate of the Federal Republic of Nigeria has passed the Investments and Securities Bill 2024. The Investments and Securities Bill, meant to repeal the Securities and Exchange Commission (SEC) Act, was passed on the […]
Coronation Insurance Reports ₦2.2 Billion Profit, Charts Digital and Sustainable Future
Coronation Insurance Plc celebrated a remarkable financial turnaround at its 66th Annual General Meeting (AGM) in Lagos, announcing a profit before tax of ₦2.2 billion for the financial year ending 31st December 2023. This milestone represents a significant recovery from the ₦1.8 billion loss recorded in 2022, a testament to […]
Experts Advocate Green Building For Sustainable Financing
Industry professionals in the building and construction sectors have been called to adopt green building practices as a means to secure sustainable financing for large-scale projects. This was the key takeaway from experts who spoke at the Ecobank Design and Build Expo in Lagos last week. Green building, […]
Holcim Exits Nigerian Market After 65 Years, Sells Lafarge Africa to Huaxin Cement for $1bn
Cement maker Holcim has announced the $1 billion sale of its 83.8% stake in Lafarge Africa to China’s Huaxin Cement. After roughly 65 years of operations in Nigeria, Swiss cement and other building materials’ maker, Holcim, on Sunday announced that it was set to leave the country. The […]
Fintech: No Investor Will Lose Their Funds, SEC Assures
The Securities and Exchange Commission has restated its commitment to investors’ protection, especially with the increasing use of Fintech. Speaking at the one day capacity training for financial journalists in Abuja, the Director General of the SEC, Dr. Emomotimi Agama, said the Commission will enforce regulations in the fintech ecosystem […]
Ngozi Okonjo-Iweala Reappointed As WTO Chief
The World Trade Organization (WTO) has reappointed Ngozi Okonjo-Iweala for a second term as Director-General during a special meeting held on Friday. Okonjo-Iweala, who made history in 2021 as the WTO’s first female and first African leader, will serve another term as the organization prepares to navigate an era […]
Fiducia, Mynd partner to enhance supply chain financing in Africa
Fiducia, a Nigerian digital supply chain financing platform, says it has partnered with Mynd Fintech, a subsidiary of M1xchange, to enhance supply chain financing in Africa and the Caribbean. Chukwuka Amadife, the Chief Operations Officer of Fiducia, said this in a statement on Thursday in Lagos. He said that the […]
Access Bank Finalizes Acquisition Of Standard Chartered Bank Subsidiaries In Angola, Sierra Leone
Access Bank Plc, the flagship subsidiary of Access Holdings Plc, has completed the acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited. This milestone follows the company’s announcement in July 2023 regarding the planned acquisitions. In a statement celebrating the achievement, Roosevelt Ogbonna, […]
SEC Warns Nigerian Public To Stay Clear of Marino FX Limited
The Securities and Exchange Commission has warned the public not to transact any business with Marino FX Limited as the company is not registered by the Commission operate in any capacity in the capital market in Nigeria. This was contained in a notice by the SEC in Abuja Wednesday. […]