Author: Marketforces Africa

FirstBank Processed ₦6trn transactions through FirstMonie network – CEO

First Bank of Nigeria Ltd says it has processed transactions worth over N6 trillion on its FirstMonie Agent network as at July 2020.

PenCom initiates process to review 2014 Pension Reform Act

Pay Attention to Dividend Paying Companies, Impressive Results – FSDH ·         Equities market sets for bullish end in 2020 ·         United Capital, Jaiz Bank excite analysts ·         FSDH bearish on Access Bank, yank off lender’s share from top picks Analysts at FSDH have advised equities investors to pay attention to companies stocks with dividend payment history and impressive financial results. In its equities research note, the firm projected that equities market is set for a bullish end in the financial year 2020. “We expect a rally in the equities market in the coming months, we think investors should pay attention to stocks that…

GTBank Suspends Currency Conversion on Naira MasterCard

USSD: NCC Restraints Telcos from Charging Banks Customers Directly

Dollar slips as yields dive on recovery worries

Nestlé Nigeria Earnings Deflates as Cost Pressure Mount

Pressure Eased on Interbank Rates Day after CRR Debits Pressure on interbank funding rates eased on Tuesday, after yesterday’s Retail secondary market intervention sales (SMIS) auction and cash reserve ratio (CRR) debits by the apex bank. At today’s session’s open, financial system liquidity declined to ₦268.56 billion from ₦778.03 billion previously.  Analysts at Chapel Hill Denham said the Open Buy Back and Overnight rates fell to 9.00% and 10.08% respectively from 13.33% and 14.33% previously. Meanwhile, the fixed income market recorded a mixed performance. Analysts at Chapel Hill explained that sentiments were bullish at the front end of the curve,…

Custodian Investment to Acquire Controlling Interest in UPDC. The Custodian Investment Plc has signed a binding agreement with UAC of Nigeria Plc to purchase 51% equity interest in UACN Property Development Company (UPDC) Plc.

Sterling Bank: Impressive Result Belied Rough Seas Ahead – CEO. Sterling Bank Chief Executive Abubakar Sulaiman has said lender’s first half 2020 performance has bellied rough seas ahead.