Year: 2019
Savanah Bank has been unable to return to the banking business 17 years after its license was restored and reps are furious as they set to probe what went wrong.
Ahmed Lawan Kuru, the Managing Director/CEO, Assets Management Corporation of Nigeria (AMCON) has disclosed that the over N1trillion that AMCON has recovered so far accounts for 61% of the Eligible Bank Assets (EBAs) purchase price of N1.7 trillion.
Unity Bank says it is in partnership with Avant-Garde Innovation and Technology Services (AGITS) to deepen advocacy initiatives for stronger climate action that will entrench values and ethos for achieving Sustainable Development Goals in the country.
The Chairman of the board of the Securities and Exchange Commission (SEC), Olufemi Lijadu, has stressed the need for exploration of the country’s non-oil sector for economic growth and development.
On the back of recent upswing in general increase in average prices of goods and services in the economy, analysts have predicted that Nigerians may experience weak purchasing power in the coming months.
The Board of Directors of Access Bank Plc (www.accessbankplc.com) has announced the appointment of Dr. Ajoritsedere Awosika as its Chairman designate.
Seplat Petroleum Development Company Plc (www.seplatpetroleum.com) has announced that her pioneer Managing Director and later CEO, Mr. Austin Avuru will be retiring in July 2020 after 10 years of leading the company.
The headline inflation increased year on year to 11.61% in October 2019, from 11.24% in September 2019. The spike in general increase in prices of goods and service was informed by the rise in food index.
The table is turning at the Nigerian Stock Exchange for some Banking stocks, as market is pricing new available information. Access Bank is still sustaining its positive momentum, while others banks in Tier-I reduce their year to date losses with November gains.
Deposit Money Banks with significant investment in fixed interest earnings assets may be faced with another margin-dilutive pressure as analysts stressed that yield on Treasury bills instrument would sag strongly in the fourth quarter of financial year 2019.