C & I Leasing to restate 2018 audited report. The C&I Leasing Plc. www.c-ileasing.com will restate 2018 audited report as a result of error in the audited financial statement of its Ghana subsidiary.
Money market funds to hit N1trn in 2020 – Analysts. The Nigeria’s money market fund pitched at N560 billion in June, 2019 and some analysts have started to predict a further surge to N1 trillion mark in 2020.
NSE Discloses Results of Market Indices Review. The Nigerian Stock Exchange (NSE), the premier sustainable exchange servicing Africa’s largest economy, has announced the results of its annual full year market index review.
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+’.
Stock Market Records 16% YTD Loss, Awaits Santa Claus Rally. On the back of the bearish performance that underscores trading activities on the floor of the Nigerian Stock Exchange in the year, the stock market year to date loss has reduced investors’ fortune significantly.
Dangote Cement Plc has initiated move to repurchase its own shares from the market as equities market condition worsen.
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.
CBN reduces transactions charges to deepen financial inclusion. The apex bank is set to drive financial inclusion with low financial services charges offering by banks and non-banking operators.