MARKETS

The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has lamented over the increasing wave of non-performing in various banks across the country. He thus called for strict compliance with the existing code of conduct and a review of the existing laws and regulations to provide...

…Declares N1.00 dividend in 2016 Despite the macro economy challenges in 2016, Flour Mills of Nigeria (FMN) Plc has announced an impressive growth in profit and loss figures with profit for the year increasing by 70 per cent. The flour producing company shows that its Group profit after tax closed...

From N9.692 trillion on Wednesday, Market Capitalisation of the Nigerian Stock Exchange (NSE) closed at N9.615 trillion on Thursday as investors recorded value devaluation of N77 billion even as the market All-Share Index which closed at 28,221.18 basis points  on Wednesday came down to 27,997.29 basis points. Investors traded a...

Says there’s no plan to sell Skye Bank The Central Bank of Nigeria (CBN) has provided a loan to Skye Bank Plc to boost its liquidity after the lender breached requirements on capital and lending. The short-term lending facility will allow new management to “ensure that some withdrawals it suffered...

  Fidelity Bank Plc, one of the country’s most diversified financial institutions, has been adjudged the “Best Green Partner 2015” by the Lagos State Government at the recently concluded 2016 Tree Planting Day. The organisers of the event said that the bank was given the award in recognition of its...

  Deposits from customers drops by 11% Loans and advances to customers fell by 7% AMCON levy hits N904m in six-month Wema Bank Plc’s unaudited result for the six-month ended June 30th, 2016 has shown that the bank recorded a 11 per cent growth in profit before tax. The bank’s...

Zenith Bank Plc has been named as Nigeria’s most customer-focused bank by KPMG the leading advisory and consultancy firm. KPMG in its 2016 edition of the annual banking industry Customer Satisfaction Survey recently released, Zenith topped other Nigerian banks in the Customer Satisfaction Index (CSI) with a total of 74.6...

The bears continued its onslaught on the equities market as investors recorded a loss of N92 billion on the Nigerian Stock Exchange (NSE) on Wednesday as Market Capitalisation of the Exchange closed at N9.692 trillion from N9.784 of the previous day even as the All-Share Index closed at 28,221.18 basis...

With slow sales and significant increase in financial charges, Lafarge Africa has announced N30 billion loss in profit for the half year period ended June 30, 2016. The cement manufacturing company had reported a N30.8 billion gain in prior half year attributed to increase sales and modest loss in finance...

The Central Bank of Nigeria (CBN) has given a directive that all foreign exchange trades (forex) by Authorized Dealers (Banks) and Companies in the Nigerian forex market must be executed through the platform provided by the Financial Market Dealers Quotes (FMDQ)-advised forex trading, with effect from August 1, 2016. The...