Browsing: News
MTN Nigeria redeems $399.494 billion preference shares. MTN Nigeria Plc. has secured regulatory approval to redeem all 402, 590, 263 preference shares at $0.9925579.
Santa Claus rally: Equities investors gain N93.1 billion. The domestic equities market consolidates on Friday gains, posts a positive performance on Monday on the back of share appreciation in NESTLE (+2.8%), SEPLAT (+8.8%) and DANGCEM (+1.1%).
Fitch revises stance on Zenith, GTB, UBA, BOI to negative. Fitch Ratings, a global rating agency, has revised the outlooks on the Long-Term Issuer Default Ratings (IDR) of Zenith Bank, Guaranty Trust Bank Plc. United Bank for Africa Plc. and Bank of Industry Limited (BOI), to Negative from Stable and affirmed their IDRs at ‘B+’.
ARM Holding Invests in Trove Technologies to deliver access to global investment. The Asset & Resource Management Holding Company Limited (ARM) said it is making an equity investment in Trove Technologies Ltd (Trove) – a micro-investing application that allows users to invest in financial securities in Nigeria and international markets.
The Central Bank of Nigeria https://www.cbn.gov.ng/ has directed deposit money banks (DMBs) to reduce automatic teller machine (ATM) charges to N35 from N65 effectively from January, 2020.
Lafarge appoints El Dokani as GMD. Lafarge Africa Plc. www.lafarge.com.ng has announced the appointment of Khaled Abdelaziz El Dokani as Group Managing Director and Chief Executive Officer.
Banks 65% LDR target marks yields crashing unsustainable – FBNQuest | FBNQuest Capital has stated that the crashing yield in the fixed income market may not be sustainable because of banks’ loans to deposit ratio requirement.
NNPC declares N5.20 billion trading surplus| The Nigerian National Petroleum Corporation (NNPC) www.nnpcgroup.com has said that it made ₦5.20 billion trading surplus for the month of August. Compare with July, 2019 this translate to a 22% increase from ₦4.26 billion.
Access Bank Economic Intelligence sees November inflation climbing to 11.9%| The Access Bank Economic Intelligence Unit has stated that the nation’s November headline inflation would hit 11.9%, as analysts cited border closure, security issues in the food producing region as driving factors.
AMCON Takes over Olajide Omokore’s Cedar Oil & Gas Limited Over ₦29 bn Debt. The Asset Management Corporation of Nigeria, AMCON, www.amcon.com.ng has taken over Cedar Oil & Gas Limited, the company promoted by Olajide Omokore, over N29 billion debt owed by the company.