Author: Marketforces Africa

Stock market cap declines ₦2bn as investors’ sentiment fade. Weak investors sentiment has necessitated sell-offs that knocked off ₦2 billion from the Nigerian Stock Exchange. This pushed the stock market capitalisation down to ₦12.9 trillion on Tuesday. The benchmark All Share Index declined 2 basis point (bps) to close at 24,750.06 points.

Sterling Bank offers Customers Opportunity to Earn Passive Income. In its newly introduced One Partner Programme, Sterling Bank says its customers that referrals its products can would be compensated for the effort. Sterling Bank Plc said the programme would allow customers the benefit of enjoying passive monthly income.

S&P Global affirms AfDB’s AAA rating with stable outlook. S&P Global, a rating agency has affirmed its ‘AAA/A-1+’ long- and short-term issuer credit assessment of the African Development Bank (AfDB) with a stable outlook.

FBN General Insurance assets grow 17 per cent in 2019 FBN General Insurance Limited says it achieved 17 per cent growth in its total assets in 2019, translating to N11 billion as against N9.4 billion recorded in 2018. This is according to a statement made available to the News Agency of Nigeria, (NAN) in Lagos, on Monday, on the 4th virtual Annual General Meeting (AGM) of the Insurance company. The company, at the virtual AGM, presented its 2019 audited Annual Report and Financial Statement to its Board of Directors. Mr Bode Opadokun, Managing Director/Chief Executive Officer of the firm, said at…

Nigeria’s Balance of Payment Plunged to Deficit in Q1. The Nigeria’s balance of payment (BoP) has slipped to $11.18 billion deficit in the first quarter of 2020 according to data released by the apex bank.

Unity Bank, Dynamiss partner to boost e-learning in Nigeria. Unity Bank Plc. has partnered Dynamiss to enable schools acquire robust learning management system at affordable rates.

Dangote cement sustains 54,000 jobs in 4 African countries. Aliko Dangote, President at Dangote Group has said that despite the challenging economic situation in 2019, Dangote Cement was able to sustain 54,000 jobs in four African countries, where the company has its operations. The countries are Nigeria, Ethiopia, Senegal and South Africa.

LDR, CRR: CBN Limits Banks Liquidity to Manage FX Pressure. Analysts have explained that the Central Bank of Nigeria (CBN) policies is putting banks on tight corner follow serial debits for failure to meet loans to deposits ratio target.

FBNHoldings wins World Finance Best Corporate Governance in Nigeria Award. Nigeria’s leading financial services group and holding company, FBN Holdings Plc, has won the 2020 Best Corporate Governance in Nigeria Award by the World Finance.

Access Bank to Charge Customers for Accrued Stamp Duty. Access Bank Plc said it will need its customers accumulated stamp duty on transactions value at #10,000 and above between February 1 and April 30.