MARKETS

Zenith Bank Plc has launched a new mobile banking solution to make banking simpler and interesting. The bank’s *966# Eazybanking solution, which was recently launched into the Nigerian market, will complement the effort of the Central Bank of Nigeria (CBN) to build a cashless economy and enhance financial inclusion. The...

Nigeria's interbank overnight lending rate rose for the second consecutive week on Friday to an average of 15 percent from 10 percent a week ago, as banks scrambled for liquidity to settle bond purchases. Nigeria sold 120 billion naira worth of local currency-denominated bonds with mixed yields compared with the...

Investors on the Nigerian Stock Exchange (NSE) had a kind of respite on Friday as they collectively gained N26 billion, from N9.858 trillion on Thursday, the Market Capitalisation nudged up to N9.893 trillion on Friday even as the All-Share Index rose from 28,708.42 basis points on Thursday to 28,805.45 at...

The Nigerian naira took a dive on Thursday at both parallel and official markets, becoming the worst performing currency in Africa in 2016. Bloomberg data reveals that the naira which began trading at 283 to the dollar at the interbank market on Thursday, depreciated to 284/$1 to become the third...

As the economic crunch continues to bite harder in the country, most insured Nigerians have resolved to be paying their premiums on monthly, quarterly and bi-annually, at least, until the economic position improves. Business 247 Online News findings show that insurance premiums of underwriting firms fell by 30 per cent...

  as UBA stock now best performing on the exchange Fitch Ratings, one of the foremost global rating agencies, has affirmed United Bank for Africa (UBA) Plc’s viability rating at “B”, as the pan-African banking group continue to sustain its benchmark asset quality and strong profitability amidst industry and macroeconomic...

Guaranty Trust Bank remains one of the top two rated Banks in Nigeria as shown by the recently released Rating Report by Fitch, a global rating agency. Fitch revised the Outlook on the Bank’s Long term Issuer Default Rating (IDR) from Negative toStable citing the Bank’s continuing strong earnings and...

Investors on the Nigerian Stock Exchange (NSE) on Thursday traded 203.58 million shares valued at N2.49 billion in 3,805 deals as against 190.30 million shares worth N2.34 billion traded in 4,578 deals on Wednesday. The most traded stock of the day was FBN Holdings which traded 32.91 million shares valued...

FirstBank of Nigeria Limited is targeting to grow its customer base by over 10 million new customers in the next three years. The expansion is in sync with the bank’s financial inclusion initiative. Managing Director and CEO, FirstBank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan, who disclosed this in...

Federal ministries, departments and agencies (MDAs) are indebted to the Federal Government to the tune of N178.56 billion. The Debt Management Office (DMO) disclosed this in a report entitled: ‘Federal Government On-lent Loans to MDAs’, stressing that 11 MDAs benefitted from the money lent to them for infrastructure development projects....