MARKETS

Niyi Olaoye Report of the Debt Management Office (DMO) has shown that Deposit Money Banks (DMBs) got more allotment at 27.54 per cent of the total FGN Bonds allotted in 2015. Analysis of Federal Government (FGN) Bonds allotments by investor-type depicts that the banks were followed by Fund Managers &...

Cadbury Nigeria Plc has recovered in its profitability, with a gain of N216.4 million in profit before tax in unaudited interim financial statement for the half year ended June 2016 from a loss of N250.7 million in the same prior of last year. Drop in cost of sales and growth...

Transcorp Hotels Plc has announced 7.5 per cent growth in profit after tax to N1.9 billion for the half year period ended June 30, 2016. The group profit after tax had closed half year of 2015 at N1.76 billion. Also, profit before tax stood at N2.75 billion, 11 per cent...

The outgoing Group Managing Director (GMD), United Bank for Africa Plc (UBA), Philip Oduoza, will on Friday July 22 delivers the fourth Chartered Institute of Bankers of Nigeria's (CIBN) valedictory lecture having had an eventful career at UBA. CIBN in a statement said, “in view of having achieved a remarkable,...

The Nigerian Stock Exchange (NSE) has entered into a contract to provide Dangote Cement Plc its Issuers Share Price Information service. The Issuers Share Price Information is an offering that enables companies listed on the NSE to display their respective share price on the homepage of their corporate website in...

Sterling Bank Plc has ended talks to buy Keystone Bank Limited after finding it an unsuitable fit and is now focused on raising funds as it considers other acquisitions, its Chief Finance Officer, Abubakar Suleiman, said on Tuesday according to Reuter’s report. “We reviewed Keystone Bank and concluded the strategic...

Ecobank Transnational Incorporated (ETI), its Nigerian subsidiary Ecobank Nigeria and the Bank of Industry (BoI) have signed a memorandum of understanding to cooperate in deepening financial services delivery to micro, small and medium enterprises in Nigeria. A statement from the bank explained that the partnership has the potential of bringing...

The NSE All Share Index (ASI) lost 245.34 points to close at 28,488.56 points compared to 71.55 points lost on Monday to close at 28,733.90 points, as its year-to-date returns closed at -0.54 per cent loss even as Market Capitalisation also dropped by N84.3 billion to close at N9.784 trillion...

Niyi Olaoye The United Bank of Africa UBA has become the card issuer for MasterCard in 18 markets in Africa, which enables the bank to issue MasterCard credit, debit and prepaid cards across these markets. The partnership will also focus on increased payments infrastructure across Africa, including the roll out...

Niyi Olaoye The naira fell further to N368 against the dollar at the parallel market Today (Tuesday), as the scarcity of foreign exchange continued to weigh on the value of the local currency at the interbank and parallel markets. It will be recalled that the Naira closed at N365 to...