MARKETS

The Central Bank of Nigeria (CBN) will be hosting the September edition of the Finance Correspondents Association of Nigeria (FICAN) Bi-Monthly Forum in Lagos. The event, with theme: ‘Development in the Electronic Payment Industry in 2016’ will hold on Saturday, September 10 at the FICAN Centre, Onipanu Lagos. The Guest...

Investors’ sentiment continued to rock the nation’s equities market over recent recession reports by the National Bureau of Statistic (NBS). The equities market extended previous day’s losses on account of a 0.73 per cent decline recorded in Nigerian Stock Exchange All-Share Index (ASI). The ASI depreciated by 203.31 basis points...

The National Insurance Commission (NAICOM) is set to create alternative distribution channels which insurance companies can explore to sell their products and services across the country. The Commissioner for Insurance, Alhaji Mohammed Kari, who stated this at the 2016 Insurance Professional Forum in Abeokuta, Ogun State, added that the commission...

The Central Bank of Nigeria (CBN) would raise about N1.77 billion in Treasury Bills (TBs) in the last three months of the year. According to the CBN fourth quarter Treasury Bill Issue Programme  released on Monday, the apex bank said it plans to raise about N815.37 billion, comprising 91 days,...

Shareholders of four banks listed on the Nigerian Stock Exchange (NSE) will receive a sum of N29.7 billion in dividend for the half year ended June 30, 2016 despite the severe macro economy challenges. Given the challenging operating environment and stiff regulatory environment, analysts have expressed that investors in the...

Transactions at the Nigerian Stock Exchange (NSE) today remained on a downward trend due to profit taking. The market All-Share Index shed 49.55 basis points or 0.18 per cent to closed at 27,707.12 basis points. Similarly, the market capitalization shed N17 billion to close at N9.518 trillion. The downturn was...

Wema Bank Plc has continued its expansion plan with the reopening of its branch in Minna, Niger State. This comes barely a year after the bank obtained a national banking licence from the Central Bank of Nigeria (CBN). “After Mr. Segun Oloketuyi took over the management of Wema Bank in...

Industrial And General Insurance (IGI) Plc has paid N1.2 billion as claims to its policyholders between January and August, 2016. A statement from the firm and made available to Business247 Online News at the weekend said, claims paid out under general business amounted to N273.5 million, including N107.2 million which...

Equities market trading on the Nigerian Stock Exchange (NSE) recorded a marginal decline in August of 2016, with market capitalisation and All-Share Index dropping by 1.5 per cent respectively, the situation market analysts attributed to persisting scarcity of foreign exchange and hike in interest rate. Review of the equities market...

A turnover of 1.115 billion shares worth N13.817 billion in 16,083 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.124 billion shares valued at N13.839 billion that exchanged hands last week in 15,625 deals. The NSE All-Share Index and...