archiveAugust 5, 2016

The Asset Management Corporation of Nigeria (AMCON), has recovered N644 billion from debtors and promised to protect the enemy. Its Managing director, Ahmed Kuru disclosed this on Friday at a media briefing in Lagos, stating that the financial institution is on its way to achieving its objective of protecting the...

Transactions on the Nigerian Stock Exchange (NSE) closed in the negative territory on Friday as investors recorded a joint loss of N112 billion as the Market Capitalisation and All-Share Index which opened the day trading at N9.531 trillion and 27,751.34 basis points closed today at N9.419 trillion and 27,425.86 basis...

Fitch Ratings has today affirmed the National Ratings of First Bank of Nigeria (FBN), United Bank for Africa (UBA), Fidelity Bank (Fidelity), Diamond Bank (Diamond), First City Monument Bank (FCMB), Union Bank (Union) and Stanbic IBTC Bank (SIBTC) and Bank of Industry (BOI) as well as the bank holding company...

Naira hit 400 against the dollar on the black market on Friday, bureaux de change traders said, falling to its lowest since the Central Bank of Nigeria (CBN) floated the currency in June. On the official interbank market, the naira ended at 311 per dollar, 0.3 percent weaker, after trades...

The Executive Secretary, Nigerian Shippers’ Council (NSC) Hassan Bello has called on stakeholders to support port automation system to enhance efficiency at the seaports. Bello made the call in Lagos when he led management staff of the Council on a courtesy visit to the Lagos Chamber of Commerce and Industry...

   Cuts interim dividend by almost 50 percent Feels effects of Nigerian fine (Adds details) Africa's biggest mobile phone operator MTN Group Ltd cut investor payouts by almost 50 percent as it reported its first-ever half-yearly loss after taking a hit from a hefty regulatory fine in Nigeria. MTN agreed...

Calls for proposal for External Auditors The Central Bank of Nigeria (CBN) has directed banks and authorised forex dealers to sell the Pilgrims Travelling Allowance (PTA) to intending pilgrims at a concessionary exchange rate of N197 to $1. This was contained in a circular on Thursday marked TED/FEMFPC/GEN/01/005. According to...