MARKETS

 The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC). This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday. Speaking...

The Securities and Exchange Commission (SEC) has reaffirmed that it will go all out to act decisively to uphold the integrity of the capital market and protect the interests of all investors. This was stated by the Acting Director-General of the SEC, Dr Emomotimi Agama, during a virtual meeting with...

        The recently appointed Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama is set to engage with both local and international crypto exchanges in a crucial meeting scheduled for Monday. Organized by the Blockchain Industry Coordinating Committee of Nigeria (BICCoN), the gathering aims to...

  1 ADDRESS OF THE MD/CE NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC) MR BELLO HASSAN AT THE PRESS CONFERENCE ON THE REVIEW OF THE MAXIMUM DEPOSIT INSURANCE COVERAGE LEVEL, THURSDAY 2ND MAY 2024 My Executive Directors and other members of staff of the NDIC, Ladies and gentlemen of the press. I...

  In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1 2024. This was made known in the Bank’s unaudited financial statements released on the...

The Nigeria Deposit and Insurance Corporation (NDIC) has reviewed the maximum deposit insurance coverage for deposit money banks (DMBs) from N500,000 to N5,000,000 and this would provide full coverage of 98.98 per cent of the total depositors compared with the current cover of 89.20 per cent. The Managing Director, Mr...

  Shareholders of Zenith Bank Plc unanimously approved the restructuring of the Bank to a holding company during a court-ordered Extraordinary General Meeting (EGM) held virtually from Zenith Heights, Zenith Bank Plc, Victoria Island, Lagos, on Friday, April 26, 2024. In accordance with the Scheme of Arrangement dated March 28...

Stockbrokers have urged the Central Bank of Nigeria (CBN) to allow the shares and other securities of publicly listed banks as marginable securities, which enables investors to take loans specifically for purchase of shares. Stockbrokers, under the auspices of Chartered Institute of Stockbrokers (CIS), said while the capital market has...

When the management of the Nigerian Exchange Limited (NGX) in July 2023 announced that it was reclassifying Fidelity Bank Plc from small-price stock to medium-price stock, financial analysts concluded that the road to attaining Tier1 status by the bank is closer than ever imagined. In full year 2022. Fidelity Bank...

The National Council on Privatisation, NCP, has announced that it was aiming to merge the Central Bank of Nigeria’s NIRSAL Microfinance Ltd with the Bank of Agriculture. The Council disclosed this in a statement on Wednesday, noting that it also plans to inject new capital into the institutions to rejuvenate...