The Nigerian Stock Exchange (NSE) equities market began this week’s transactions on Monday with the benchmark index declining by 0.21% triggered by late sell-offs of NESTLE NIGERIA PLC, ACCESS BANK PLC, and OANDO PLC shares. The All Share Index closed on Monday at 27,089.84 basis points compared to Friday close of 27,146.57 basis points. While the […]

BANKS are rejecting high interest-yielding deposits as they countdown to the Central Bank of Nigeria (CBN) policy mandating them to give out at least 60 per cent of their deposits as loans or be sanctioned, The Nation learnt on Monday. The CBN had announced pro-growth measures, such as requiring banks to report loan-to-deposit ratios of […]

Shareholders of Flour Mills of Nigeria Plc have seen N2.89bn increase in dividends as the company proposed a payment of N1.20 dividend per share for the 2018 financial year. The shareholders approved the payment of the dividend at the company’s Annual General Meeting in Lagos. The dividend amounted to N4.92bn, compared to the N2.03bn dividend […]

Access Bank Group posted a profit before Tax of N74.1bn in the first half of 2019, a 62 per cent increase from the N45.8bn recorded during the same period in 2018. Its profit after tax grew to N63.01bn in H1 2019 from N39.6bn in the same period last year. The group’s audited financial results showed […]

The Ogun State Governor, Prince Dapo Abiodun, has said his administration will implement a programme for women that will allow them to have direct access to loans under the ‘Oko owo Dapo’ empowerment initiative. He said this in Ijebu- Ode while on an inspection tour of work going on at Ashafa-Oke and Degun. He said […]

Sell pressure in the equities market dominated at the start of the week as investors counted losses totalling N27.6bn at the end of trading on the floor of the Nigerian Stock Exchange on Monday. The market capitalisation of equities listed on the NSE dropped from N13.207tn to N13.179tn as the All Share Index shed 0.21 […]

The Lagos Chamber of Commerce and Industry has advised the Central Bank of Nigeria to discontinue the official exchange rate of N305 to one United States dollar. It said that the multiplicity of rates was inimical to economic diversification and urged the apex bank to allow the market to drive the forex rate. Although the […]

The National Insurance Commission has granted approval in principle to Cornerstone Takaful Insurance Company Limited and Salam Takaful Insurance Company Limited. Both companies were given approval as Composite Takaful operators to transact both family and general Takaful business in Nigeria. This new development brings the total number of wholly Takaful operators to four as the […]

The Securities and Exchange Commission has announced its partnership with the Federal Competition and Consumer Protection Commission to introduce simplified measures on the processes of mergers of companies in Nigeria. According to a statement on Monday, the acting Director-General, SEC, Ms Mary Uduk, signed a memorandum of understanding with the FCCPCC in Abuja. Uduk expressed […]

The recent closure of Nigeria’s borders has significantly led to a reduction in the smuggling of Premium Motor Spirit, popularly known as petrol, out of Nigeria, the Nigerian National Petroleum Corporation has said. The PUNCH had in July reported that smugglers took the commodity to as far as Burkina Faso, Mali and Cote d’Ivoire. However, […]