NGX All-Share Index ends winning streak, loses 0.13%
Thursday, December 8, 2022, the domestic bourse ended its four-day winning streak as the benchmark index shed 0.13% to close at 48,365.14 points. Selloffs in telco heavyweight, MTNN (-2.27%) as well as GTCO (-0.48%), and WAPCO (-0.46%) underpinned the market’s…
NGX spurs next phase of capital market innovation with Made of Africa Awards
Nigerian Exchange Limited (NGX or The Exchange) has successfully hosted the 2022 edition of the NGX Made of Africa Awards (NGX MOA Awards) ceremony in a bodacious celebration that saw the recognition of innovativeness and compliance with best practices in…
CBN’s Policy on Cash Withdrawal Limit A Human Right Violation
By Frank Tietie Stop and think for a moment that the WEEKLY over-the-counter (OTC) cash withdrawals by individuals and corporate entities would no longer exceed N100,000 and N500,000, respectively. How does this kind of policy directive help individuals and businesses?…
CBN goes tough on Inflation Control, sets tight withdrawal limits
The Central Bank of Nigeria (CBN) has limited weekly cash withdrawals over the counter to N100,000 for individuals and N500,000 for organisations regardless of their size. Withdrawal at POS terminals has also been limited to N20,000 per day. The directive…
(Special Report) Nigeria Economy didn’t see needed reforms in 2022
The domestic macroeconomic narrative did not change much in 2022, given the government’s lack of will to institute the necessary reforms to propel the economy forward. While domestic economic activities appear more resilient than envisaged, inflationary pressures remain entrenched, pressuring…
Heritage Bank agent for meeting of SDG 5-Gender Equality – Kilali Tribe
Heritage Bank has been commended for being an agent for the actualisation of Sustainable Development Goals SDG 5 – Gender Equality, as well women empowerment for socio-economic growth. This was stated by Kilali Tribe at the Women Must Conference 2.0,…
Instant Payment Transactions to Surpass 376bn Globally by 2027— Juniper Research
A new study from Juniper Research has found that the number of instant payment transactions will exceed 376 billion globally by 2027; increasing from 97 billion in 2022, a 289% growth. It predicts that an increased roll-out of instant cross-border…
Access Holdings Completes Acqusitrion of Indirect Stake in Sigma Pension
Access Holdings Plc (which trades as Access Corporation) has completed its acquisition of an indirect equity stake in Sigma Pension. A corporate disclosure made available to Business Hilights averred that following the acquisition, Access Holdings has merged its FGPL with…
Heritage Bank supports over 500 widows, bags UN Award
Leading financial institution, Heritage Bank received the 2022 United Nations Award for Humanitarian Service by the Widows & Orphans Support Society of Nigeria (WOSSA), as no fewer than 500 widows and orphans in Lagos State benefitted from the Bank’s supports….
Zenith Bank Bags Financial Times Group’s Bank of the Year
Leading Tier 1 financial giant, Zenith Bank Plc has emerged as The Bank of the Year in Nigeria in The Banker’s Bank of the Year Awards 2022. Business Hilights gathered that the award was announced by The Banker Magazine, Financial…
