NGX gives insight on why it reclassified Fidelity Bank stock at Exchange
The management of the Nigerian Exchange Limited (NGX) has provided explanations on why it recently reclassified the bank’s stock from small to medium stock. A statement by Joseph Kadiri, Media Relations, Corporate Communications of the NGX, said the reclassification became…
Foreign transactions on NGX rise to N145.1bn in six months
Amid the bounce of a new administration and raft of changes in government policies, total foreign transactions performed by investors at the floor of the Nigerian Exchange Limited (NGX) grew to N145.08 billion in the first six months (H1) of…
Expect good results of Tinubu’s economic policies in Q1 ‘24—Rewane
Leading economist and Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane has assured Nigerians that the economic reforms and policies of President Bola Tinubu’s administration will start yielding results from the first quarter of 2024. Rewane said this on…
FBN Holdings Plc reports growth in its EPS (+234.8% y/y) to NGN5.19/s
FBN Holdings Plc (FBNH) published its unaudited H1-23 financial statements after the close of business yesterday, reporting a remarkable growth in its EPS (+234.8% y/y) to NGN5.19/s (vs NGN1.55/s in H1-22). The group’s earnings growth in the period was supported…
Ocorian gives insights to firms on exiting grey listing
In February 2023, two of Africa’s largest economies, South Africa, and Nigeria, were placed on the Financial Action Task Force’s* (FATF) Grey List, indicating strategic deficiencies in anti-money laundering and counter-terrorist financing measures. As a result, companies operating in Grey…
MPC of the CBN to hold meeting without Gov. next week
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) is expected to hold its fourth meeting of the year on the 24th and 25th of July. Following the suspension of Godwin Emefiele, the meeting will be chaired…
CBN drops 10% CRR for Merchant Banks by next month
As part of efforts to drive long term financing, the Central Bank of Nigeria (CBN) has announced a reduction in the Cash Reserve Requirement (CRR) of merchant banks to 10 per cent from the current 32.5 per cent. The apex…
Ecobank wins GTR continental awards for ECOWAS Region
The Leaders in Trade awards highlight excellence in the trade, commodity, supply chain and export finance and fintech markets. Ecobank Group has been named the ‘Best Trade Finance Bank in West Africa’ for the second year in the row. The…
NGX Group woos FG, targets foreign investment inflows
The Board and Management of Nigerian Exchange Group Plc (NGX Group) have said that they are open to working with the Federal government, as well as stakeholders towards improving the country’s credit profile and creating a favorable environment for both…
Just in: Access to mop-up StandChart Bank subsidiaries in Africa
Leading continental financial solutions giant, Access Holdings Plc., is set to expand frontiers. This time, the move signals Access Holdings most aggressive push for expansion beyond its home market Nigeria ever since it teed off operation in Nigeria in 1989…
