- NEAR Protocol Dips 10% Over Alleged Stolen Patented Technology
- XRP Seeks Catalyst to Halt Downtrend, Breaks Below $1.30
- Bitcoin Drops to $80.5k on Spot ETFS Outflows, AI Stocks Rout
- Naira Touches N1,395 to US Dollar as FX Order Book Surges
- Nigeria’s Gas Reserves Rise 3% to 215.29 Trillion Cubic Feet
- Oil Prices Edge Higher, Brent Rises 5% Week-on-Week to $115
- FirstHoldco Soars on Earnings Beat, Otedola, RC Hold 50% of All Shares
- XRP Upside Rises to 35% as Ledger Upgrade Delayed to Nov.
Author: Marketforces Africa
MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.
Beyond M&A Frenzy, Union Bank CEO says Balance Sheet in Much Stronger Position Now Emeka Emuwa, the Managing Director and Chief Executive Officer (MD/CEO) at Union Bank of Nigeria Plc., has said that lender’s balance sheet is in much stronger position now than it was in the past. In its 2020 guide, Union Bank forecasted a pre-tax profit of N32 billion as the bank planned to bolster it loan book by 15% to 20%. Emuwa stated this at the recent earnings call with analysts, as the management denied involvement in Merger and Acquisition deal with one of the Tier-1 Banks…
BUA Group acquires majority holding in P.W Nigeria Limited BUA Group has acquired majority shareholding in P.W. Nigeria limited, one of largest construction, engineering and mining companies. Abdul Samad Rabiu, Executive Chairman of BUA Group said in a statement on that the acquisition was necessary to further deepen its investments in the infrastructure business in sub-Saharan Africa. Rabiu said the acquisition marks the beginning of the next phase of BUA group medium term strategy for infrastructure business. This comes following the completion of the consolidation of our cement arm, BUA Cement, in January 2020. He added that BUA’s acquisition of…
COVID-19: UBA, Transcorp cancel AGM United Bank for Africa (UBA) and Transcorp Plc have announced the cancellation of their 2019 Annual General Meetings (AGMs) to prevent the spread of COVID-19. The companies stated this in a release submitted on the Nigerian Stock Exchange (NSE) website. The two listed companies bowed to public demand for social distancing as cases of coronavirus continue to rise in the country. UBA’s had scheduled its 58th AGM for March 27, at the Eko Hotels & Suites, Victoria Island, Lagos, while Transcorp was supposed to hold on March 25. “The Board of Directors of United Bank…
Cedar advisory to buyout 39.62% of Union Diagnostic shares
CBN plays soft on devaluation, says it is adjustment of price. The Central Bank of Nigeria has clarified that it did not devalued the local currency, Naira.
GTBank introduces free instant payment cash transfer. Guaranty Trust Bank Plc has introduced free instant payment cash transfer for its customers.
Nigeria’s Bank of Industry raises €1bn from international capital market. The Bank of Industry (BOI) says it has raised €1 billion from the international capital market.
CBN technically devalues Naira, sets rate at ₦380 per dollar. The Central Bank of Nigeria sold naira at ₦380 per dollar to deposits money banks on Friday, the move that analysts said that may end multi-tiered exchange rate regime.
Zenith, MTN Nigeria partner on mobile insurance service. Zenith General Insurance Company Limited has partnered with Telecommunications giant – MTN Nigeria to provide the first ever mobile insurance service in Nigeria.
Equity market sinks to ₦11.505 trillion amid COVID-19 Bouts. As Nigerians are becoming apprehensive following an increase in reported cases of COVID-19, the performance of equity market today plunged as year to date losses widen.