MARKETS

The Nigerian Stock Exchange (NSE) equities market segment reversed yesterday’s losses as key market indices added 0.84 per cent in contrast to a decline of 0.06 per cent recorded previously day. The NSE All-Share Index specifically gained 229.33 basis points to close at 27,650.32 basis points, while the Market Capitalization...

Naira ended 5.2 per cent higher at 308 per dollar on Friday after the Central Bank of Nigeria (CBN) sold dollars to support the currency, traders said. According to Reuters report, the naira, which touched an all-time low of 365.25 on Thursday, closed at 324 per dollar in the previous...

Following the Central Bank of Nigeria (CBN) Commission on Turnover reduction to N1 per mille on every N1000, Deposit Money Banks (DMBs) in the country have leverage on income generation using electronic banking. For instance, Guaranty Trust Bank, Zenith Bank Plc and First Bank of Nigeria Holdings Plc generated a...

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has charged the Management of Jaiz Bank Plc to strengthen its corporate governance in order to weather the storm of economic challenges that is currently facing Nigeria’s banking industry. The Corporation chief, gave the advice during a courtesy...

Ecobank has won Customer Relationship Management of the Year, Retail Risk Management Initiative of the Year and Best Business Model Execution in West Africa for 2016 at The Asian Banker’s 1st Annual West Africa Awards Ceremony held in Lagos recently. The Best Retail Banker in Africa award went to Patrick...

Investors on the Nigerian Stock Exchange (NSE) spent N3.603 billion on 313.276 million shares in 2,883 deals on Thursday as against 297.476 million shares valued at N2.289 billion in 3,438 deals traded on Wednesday even as the Market All-Share Index and Market Capitalisation which closed at 27,437.25 basis points and...

Naira plunged to a record low and forwards rose, suggesting traders expect further depreciation, as the country struggles amid a dearth of dollars. According to Bloomberg report monitored by Business247 News Online, the naira fell 6.3 per cent to 348.75 against the dollar by 3:08 p.m. in Lagos today. Three-month...

  Wema Bank Plc’s in its unaudited result and accounts for the half year (H1) period ended June 30, 2016 showed an impressive performance, as it was able to grow profitability and other key financial parameters. This year has characterized by deceleration on a number of economic indicators coupled with...

  Advises customers to ignore malicious massage against the bank The Central Bank of Nigeria (CBN) has reemphasised its earlier calls that there is no problem whatsoever with Skye Bank Plc, declaring that the bank is neither distressed nor liquidated. The apex bank in a statement signed by its Acting...

Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2016 with profit before tax gaining 45 per cent from N63.11 billion in H1 2015 to N91.4 billion in half year under review. The management of GTBank has proposed interim dividend of N0.25k...