Author: Marketforces Africa

Chike-Obi Appointed Fidelity Bank Chairman as Ebi Retires. Fidelity Bank Plc. on Sunday announced the appointment of Mr. Mustafa Chike-Obi as the Chairman of the bank.

DBN: Rolled Out Contacts for SMEs, Startup Loan Applications. The Development

COVID-19: NCDC reports 454 new cases of infection. The Nigeria Centre for Disease Control (NCDC) has reported 454 new cases of Coronavirus (COVID-19) in the country.

“Nigeria’s Multiple Exchange Rate System Likely to Stay”. Nigeria’s multiple exchange rate is more likely to stay in the short term, says Fitch in its Sub-Saharan Africa outlook.

Nigeria to Open Airspace to Domestic Flights on July 8. The Minister of Aviation, Sen. Hadi Sirika, on Wednesday in Abuja said domestic flights that had been suspended since March 20, would finally resume on July 8.

For Okomu Oil: Analysts say Rebound is on the Horizon. Quite a number of operators in the fast moving consumers’ goods sector with inelastic or at least partial inelastic demand are enjoying border closure.

FBNH: Analysts Raise Price Target on Account of Solid Balance Sheet. First Bank of Nigeria Holdings Plc traded at ₦5.30 on Wednesday, though analysts have estimated price target that is more than double this market price.

Bargain Hunting Lifts NSE Market Cap by ₦60.4 billion.

Gold Mining: Segilola Will Begin Operation in 2021 – CEO. Segun Lawson, the Chief Executive and Managing Director of Thor Exploration Limited, a company with focus on early stage gold exploration has confirmed that Segilola project in Osun state will commence operation in 2021.

African Banks are small but Profitable – The Banker. African banks are small in world terms but they punch above their weight in profits, according to The Banker’s latest ranking of the Top 1000 World Banks.