The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has announced a 50 basis point increase in the interest rate, raising it from 26.25% to 26.75%. This decision was disclosed by the Governor of the CBN, Mr. Olayemi Cardoso, at the conclusion of the bank’s 296th MPC meeting in […]
Category: Financial Market
Financial Market
Green Economy will create greater prosperity for investors – Agama
Stakeholders, stakeholders, intermediaries, issuers, investors, and regulators have been enjoined to take advantage of the enormous resources and potential of sustainable finance to build a green climate and climate-resilient economy in Nigeria and create greater prosperity for investors and Nigerians. This was stated by the Director General of the Securities […]
Eterna Plc appoints Okechukwu Ashiegbu as Chief Operating Officer …. Bunmi Agagu-Adu as executive directors
The Board of Eterna Plc has appointed Mr. Okechukwu Ashiegbu as Executive Director/Chief Operating Officer and Mrs. Bunmi Agagu-Adu as Executive Director of the company. This was contained in the company’s notice to the Nigerian Exchange Limited (NGX). According to the statement, the appointments are subject to approval/ratification by the […]
How US presidential election may affect, global economy, Nigerian business landscape- Standard Chartered Bank
Steve Brice, Global Chief Investment Officer at Standard Chartered Bank’s Wealth Solutions unit has noted the likely impact the 2024 United States of America (US) presidential election will have on the global economy, including the Nigerian business landscape. In a press statement, Brice has in a report outlined the anticipated […]
Unity Bank customers win over N4 million in ‘Cashtoken Rewards Promo’
By Collins David Unity Bank customers have claimed over N4 million in cash rewards in its ongoing loyalty programme recently rolled out with Cashtoken, a Cash Reward-as-a-Service company. The winners included no fewer than 40 customers who adopted and transacted on the Bank’s digital banking platforms, including the UniFi mobile […]
Access Bank raises N442 billion through syndicated tier II facility
Access Bank has partnered with the Dutch Entrepreneurial Development Bank (FMO) to secure a syndicated Tier II Facility agreement valued at $295 million (approximately N442.5 billion). According to a statement from the bank provided to newsmen, this agreement underscores a longstanding and successful relationship that has spanned over two decades […]
Banks’ credits to private sector rise by N30 trillion
Nigerian banks have created about N30 trillion in new loans and supports for the private sector in a sustained efforts that have seen the banking sector emerging as the backbone of the country’s economic renewal agenda. Latest data from the Central Bank of Nigeria (CBN) indicated that credit to the […]
GTCO Plc begins public offer to raise N400.5 billion
Guaranty Trust Holding Company Plc (GTCO) has announced the opening of its offer for subscription of 9,000,000,000 ordinary shares at 50 kobo each, priced at N44.50 per share. This follows the clearance of the offer prospectus and the registration of the shares by the Securities and Exchange Commission of Nigeria […]
AIICO Insurance settles claims worth N200 billion in 5years – Fajemirokun
AIICO Insurance Plc has said that it has paid over N200 billion in claims and benefits settlements over the past five years. Managing Director/CEO of AIICO Insurance Plc, Mr. Babatunde Fajemirokun stated this in a statement released in Lagos on Wednesday. Fajemirokun noted that this reflects AIICO’s commitment to providing […]
Only increased crude production can resolve Nigeria’s exchange rate crisis- Cowry Asset MD
The Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu has said that the only solution to Nigerian exchange rate crisis is improving crude production. Chukwu stated a webinar tagged HY 2024 Nigerian Economic and Financial Markets Review and Outlook for H2 organized by the company. He noted that government’s […]