MARKETS

Any investor looking to acquire up to 5 per cent stake of any bank in Nigeria will need to obtain prior approval and no objection from the Central Bank of Nigeria (CBN). This is according to section 20.2 of the new Corporate Governance Guidelines for Commercial, Merchant, Non-Interest, and Payment...

Standard Chartered has agreed to sell its subsidiaries in Angola, Cameroon, Gambia and Sierra Leone to Access Bank, the subsidiary of Access Holdings. The deal between Access Bank and Standard Chartered will enable the Nigerian financial institution to bridge the gap between cross-border and domestic transfers across all business segments....

United Capital Asset Management Ltd., a subsidiary of United Capital Plc,has launched the #ThisGirlInvests campaign to promote financial independence and security for women across Nigeria. T According to the company, the campaign seeks to encourage women to develop a healthy investing culture, increase women’s participation in Nigeria’s capital markets, and...

    Nigeria has redeemed a $500 million Eurobond, the Debt Management Office (DMO), said on Wednesday. Eurobond is a debt instrument, which is denominated in a currency other than the home currency of the country or market, in which it is issued. The DMO in a press statement on...

Nigerian Exchange Limited (NGX) says it plans to work with the government on the introduction of fiscal category incentives as well as advocacy for listed companies on their challenges. Temi Popoola, Chief Executive Officer, NGX, disclosed this during Closing Gong Ceremony held in honour of the new Chief Executive Officer,...

Chairman of Honeywell Group, Oba Otudeko, has asked First Bank Nigeria (FBN) Holdings to disregard Ecobank’s request for it to reject his acquisition of 4.77 billion shares. It would be recalled that recently, Honeywell Group, through its affiliate, Barbican Capital Limited, acquired a total of 4,770,269,843 units of FBN Holdings’...

The Nigerian National Petroleum Company Limited (NNPC Ltd) has reaffirmed its intention to sell the company's shares to Nigerians. Its Group Chief Executive Officer (GCEO), Mele Kyari, restated this while speaking in Abuja on Tuesday, July 11, 2023, at the 22nd edition of the 2023 Nigeria Oil and Gas (NOG)...

Ecobank Nigeria Limited has issued a written communication to FBN Holdings Plc, the parent company of First Bank of Nigeria Limited, requesting a temporary suspension of proceedings concerning the acquisition of 4.77 billion shares by Dr Oba Otudeko, Chairman of Honeywell Group. Last week Thursday, Honeywell Group, led by Oba...

In its bid to further enhance the effectiveness of regulation and investor protection in the Nigerian capital market, NGX Regulation Limited (NGX RegCo) signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of Nigeria (ICAN) on Monday, 10 July 2023. This milestone signifies closer collaboration between NGX...

  Oba Otudeko’s Honeywell Group has reportedly bought the largest shares of First Bank of Nigeria Holdings Plc in a cross deal worth N87.8 billion. The shares which Otudeko bought at N19 per unit are the largest volume of First Bank shares traded in a single day since 2012 when...