Browsing: Banks

The Nigeria Customs Service (NCS) Skills Acquisition Centre for Seme Border and neighboring communities

Katsina State Government says it collected N4.08 billion as Internally Generated Revenue (IGR) in the first

Nigerian big banks market value settled at N4.4 trillion on Friday amidst sell pressure in the local exchange. The combined valuation of these Nigerian top lenders was a result of mixed share price movements in the last five trading sessions.

Fidelity Bank Plc benefited from a fresh rally on the Nigerian Exchange, led the gainers chart over a five day rally. The bank’s share price rose sharply, up by 23% week on week as value hunters and shareholders queued behind the financial services stock.

The naira continued to underperform bullish expectations of major investment firms, including Goldman Sachs, Financial Derivate Companies, Renaissance, and others, amidst claim by the apex bank that the local currency is undervalued.

Banks earnings rose sharply in 2023 as Nigerian lenders earned higher interest income from loan book repricing.  In the latest earnings release by banking sector dominating lenders, their individual report showed interest income skyrocketed using effective pricing method.

The African Banking Digital Transformation Report, a collaboration between pan-African publication African Banker and Backbase, creators of The Engagement

Buying interest in Oando Plc, Nestle Nigeria, banking names, and other supporting stocks is pushing the market capitalisation of the Nigerian bourse upward. The latest rally in the stock market has been boosted by dividend payment expectations and overall positive expectations in the Lagos bourse.

The naira, Nigerian local currency, crashed by about 13.3% day on day in the foreign exchange (FX) market on the obvious FX liquidity challenge that has persisted since last month.

Nigeria’s sovereign Eurobonds experienced positive trading activity in the international market, which caused yield to decline by 7 basis points. Foreign investors logged fresh demand for Nigeria’s US dollar, causing the average yield to decline by 0.07% to 9.91%, according to Cowry Asset Management Limited.