NGX All-Share Index sheds 19bps Tuesday
Nigerian equities were bearish as the NGX All-Share Index closed 0.19% lower at 47,340.86 points, marking its second successive decline. On market movers, continued selloffs in SEPLAT (-3.03%) dragged the index following the pullback in oil prices. In addition, declines…
Abbey Mortgage Bank introduces Mobile Banking App
Abbey Mortgage Bank once again blazed the trail in the financial services industry with the launch of its data friendly mobile banking application. The App launch which took place at the company’s head office in Victoria Island, Lagos, will provide…
CBN releases operating guidelines for repatriation of the non-oil export proceeds
The Central Bank of Nigeria (CBN) late last month, released the operating guidelines for the non-oil export proceeds repatriation rebate scheme as introduced in the RT200 FX programme. Precisely, the guideline stipulates that exporters will be paid (1) NGN65.00 for…
NGX Partners with MTN to deepen Retail Participation in Capital Market
Nigerian Exchange Limited and MTN Nigeria Communications Plc (MTNN) have announced the signing of a Memorandum of Understanding (MoU) to further promote financial literacy and enhance retail participation in the Nigerian capital market. The announcement was made at the signing…
Nigerian Stock Market Report
Starting the week, Nigerian equities ended today’s session 0.02% weaker, ending three consecutive sessions of gain to close the benchmark index at 47,428.67 points. The market’s performance was primarily driven by selloffs in telco giant, MTNN (-0.49%). In addition, losses…
EIB approves Strategic European Security Initiative, others
The Board of Directors of the European Investment Bank (EIB) today agreed to scale up financing for European security and defence innovation and approved EUR 543 million business and clean energy investment. “Russia’s brutal and illegal invasion of Ukraine has…
LIRS reminds businesses of March 31st deadline for filing tax returns
In accordance with provisions of the Personal Income Tax Act (PITA) Cap P8 2011 (as amended), the Lagos State Internal Revenue Service (LIRS) is notifying all individual taxpayers, including self-employed persons and employees under the PAYE Scheme to file their…
Nigerian Exchange, Ministry to explore Partnerships on Gender Equality
Nigerian Exchange Group of Companies joined over 100 securities exchanges around the world to celebrate the 2022 International Women’s Day and Ring the Bell for Gender Equality in collaboration with International Finance Corporation (IFC), Sustainable Stock Exchanges (SSE) Initiative, United…
Visa Suspends All Russia Operations
Visa Inc. (NYSE:V) Monday, announced it is suspending its Russia operations. Effective immediately, Visa will work with its clients and partners within Russia to cease all Visa transactions over the coming days. Once complete, all transactions initiated with Visa cards…
UBA records 9.4% y/y growth in EPS to NGN3.39 in 2021FY
UBA released its audited full-year results recently, and the performance was in line with analysts’ expectations. The bank’s core income growth and lower funding costs supported its strong performance. Overall, the bank recorded a 9.4% y/y growth in EPS to…
