Fidelity Bank Plc has commenced its N127.1 billion combined rights and public offers, receiving enthusiastic support from the investing public. Key capital market stakeholders highlighted the bank’s impressive growth and investor-friendly policies over the years as reasons for their strong endorsement. The Nigerian Exchange (NGX), stockbrokers, investors, and customers have […]
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Nigeria records $24 billion FX inflow in Q1 2024 – CBN Governor Cardoso
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 […]
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 […]
NUPRC announces reopening of 2022/23 bids, adds 17 new blocks for 2024
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reopened the 2022/23 mini-bid round and extended deadlines for the 2024 licencing round, with new attractive fiscal terms approved by President Bola Tinubu. This was stated in the NUPRC’s update and clarity on the 2022/2023 and 2024 licencing rounds seen by newsmen […]
Champion Breweries announces completion of 86.5% stake acquisition by EnjoyCorp Limited
The Board of Champion Breweries Plc has announced the completion of the acquisition of an 86.5% stake in the company by EnjoyCorp Limited. This information was disclosed in a company notice to the Nigerian Exchange Limited and the investing public. The acquisition was executed through the purchase of 100% shareholding […]
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 […]