Browsing: News
Analysts, Fitch say Move to Basel III Positive for Banking System Stability. Analysts, Fitch rating have said that move to the third Basel Accord will be positive for banking system stability.
Nigeria’s GDP negatively expose to AfCFTA – NESG. As against widespread optimism that flooded the public discourse, the Nigerian Economic Summit Group www.nesgroup.org, a non-partisan private sector organisation stated in a report that the implementation of African Continental Free Trade Area (AfCFTA) would negatively expose Nigeria’s gross domestic product.
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.
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.