Nigeria’s Central Bank Governor, Yemi Cardoso, announced that the country recorded a total foreign exchange inflow of approximately $24 billion in the first quarter of 2024. This significant figure, the highest since 2021, was disclosed during an interview with Bloomberg TV in London. Governor Cardoso highlighted the positive impact of […]
Category: Financial Market
Financial Market
CIS urges full tech integration in every stage of bank recapitalization process
Chartered Institute of Stockbrokers (CIS) has called on the Central Bank of Nigeria (CBN) and capital market regulators to ensure a wholesome adoption of technology in every stage of the recapitalization process of the banking sector. The 13th President and Chairman of the Governing Council of Chartered Institute of Stockbrokers […]
SEC issues framework on banking sector recapitalisation
The Securities and Exchange Commission has released its Framework on Banking Sector Capitalisation Programme, 2024. The framework which was released on the Commission’s website Friday serves as a comprehensive guide for Banks/Holding Companies and market participants to navigate the recapitalisation programme effectively. The move is driven by the recent directive […]
Fidelity Bank launches N127.10 billion fundraising to enhance market and international reach
The Managing Director and CEO of Fidelity Bank Plc, Nneka Onyeali-Ikpe, has announced that the bank’s N127.10 billion capital-raising initiative is poised to strengthen its market position and expand its international presence. Speaking at the “N127.10 billion Public Offer and Rights Issue: Facts Behind the Combined Offer” event held at […]
Shareholders of UAC Nigeria endorse N644 million dividend for 2023
Shareholders of UAC Nigeria Plc have endorsed the recommendation of the Board of Directors for a dividend of N644 million for the financial year 2023. The shareholders gave the approval at the company’s Annual General Meeting (AGM) held in Lagos. The dividend was ratified by the shareholders and amounted to […]
BREAKING: FBN Holdings Plc announces Olusegun Alebiosu as Managing Director/CEO of FirstBank …..Ini Ebong as Deputy Managing Director, Alao Olatunde-Olaifa as Non-Executive Director
The Board of Directors of FBN Holdings Plc has confirmed the appointment of Mr. Olusegun Alebiosu as the substantive Managing Director/Chief Executive Officer of its subsidiary, FirstBank Nigeria Limited. Before this confirmation, Mr. Alebiosu served as the bank’s Acting Chief Executive Officer. This development follows the resignation of Dr. Adesola […]
Report forecast $5.41 billion growth in global marine insurance market by 2028
The global marine insurance market size is estimated to grow by $5.41 billion between 2024 and 2028, according to Technavio market research report. The market is estimated to grow at a compound annual growth rate (CAGR) of about 3.32% during the forecast period. According to the report, the use of […]
Investing in Davido coin highly risky -SEC
The Securities and Exchange Commission (SEC) has warned that investing in meme coins, including $Davido, is highly risky and should be done with a full understanding of the associated risk. The SEC stated this in a statement made available to the newsmen. According to the Commission in a Circular dated […]
Money lenders commend FCCPC for tackling unethical practices in digital lending
The Money Lenders Association has lauded the Federal Competition and Consumer Protection Commission (FCCPC) for its ongoing efforts to regulate the digital lending sector in Nigeria, describing it as a positive development. The Chairman of the Association, Mr. Gbemi Adelekan, in an interview highlighted that the FCCPC’s actions have contributed […]
SEC approves Nigeria’s first naira-denominated private debt fund
The Securities and Exchange Commission (SEC) has approved the FCMB-TLG Private Debt Fund, Nigeria’s first Naira-denominated Private Debt Fund. The group in a statement said the FCMB-TLG Private Debt Fund targets Qualified Institutional Investors (QIIs) and high-net-worth individuals (HNIs). Established in May 2024 and sponsored and managed by FCMB […]