MARKETS

ABDUL-KHALIQ OLALEKAN National Association of Nigerian Student (NANS), has nominated and conferred National Outstanding Leadership Award 2016 on President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Kayode Okunoren. The award which was presented to Okunoren at the NCRIB Secretariat in Lagos by the NANS President ably represented by NANS...

Wole Tokede The new Chairman of Skye Bank Plc, Mr. M.K. Ahmad, has clarified that the reconstitution of the board of the bank by the Central Bank of Nigeria (CBN) was not a takeover of the bank but an intervention to correct observed corporate governance issues under the old board....

  By ABDUL-KHALIQ OLALEKAN Nigeria insurance industry lost N82.44 million to fake insurance racketeers in the 2015 financial year, Business 247 Online News has learnt. The Nigerian Insurers Association (NIA) in the 2015 financial year made N20.61 million from its initiative, the Nigerian Insurance Industry Database (NIID) revealed that about...

Mainstreet Bank acquisition Divided board, overbearing chairman TSA trouble Insider relate loans By Wole Tokede Against the widely held beliefs, Business247 Online News can reveal authoritatively that there is a combination of factors that are responsible for the present situation that Skye Bank finds itself. Some of the factors are...

The Central Bank of Nigeria (CBN) has come out strongly to condemn the speculations going round that some deposit money banks in the country are distressed. The apex bank in a press release signed by its Acting Director, Corporate Communications, Mr. Isaac Okorafor  the CBN said its attention  has been...

Heritage Bank Plc has announced a profit before tax of N1.5 billion for the operating year ended December, 2015. This was contained in the audited financial statement announced by the bank for 2015, which represents its first full operating year since its acquisition of former Enterprise Bank Plc in October...

Market transactions on the Nigeria Stock Exchange (NSE) opened the week weak on Monday as investors recorded a loss of N104 billion. The Exchange All Share Index and the Market Capitalization decreased by 1.04 percent while the Year-to-Date return stood at 1.26 percent. The All Share Index closed at 29,002.06...

Oando Plc has announced a $210 million recapitalization of its downstream operations by HV Investments II B.V., (HVI), a joint venture owned by Helios Investment Partners (Helios), a premier Africa-focused private investment firm and the Vitol Group (Vitol), the world’s largest independent trader of energy commodities As a result of...

... Shareholders express concern Niyi Olaoye Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefelie has announced the dissolution of the board and management cadres of Skye Bank of Nigeria Plc by the apex bank over an estimated non-performing loan portfolio of N700bn, which is due to an...

A total 10 out of 220 active stockbroking firms on the Nigerian Stock Exchange (NSE) were responsible for N360 billion or 58.22 per cent value of transactions in six months on the Exchange, according to the NSE’s stockbrokers’ performance report. The transactions took place between January 1 and June 30,...