MARKETS

Data released by the Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that transactions worth N32.8 trillion were performed electronically in September through the NIBSS Instant Payment platform (NIP). This brings the total value of e-payment deals in the last 9 months to N271.5 trillion Year on year, the e-payment value...

The Securities and Exchange Commission (SEC) Nigeria and Ghana have signed a renewed Memorandum of Understanding (MoU) to strengthen cooperation and mutual support in the regulation of the markets. This is contained in a statement by the commission in Abuja on Sunday. The statement said the revised MoU would encourage...

The NGX All-Share Index depreciated by 3.41 per cent to close the week at 47,351.43 while Market Capitalization depreciated by 2.50 per cent to close the week at N25.791 trillion. Similarly, all other indices finished lower with the exception of the NGX ASeM, NGX Growth and NGX Sovereign Bond indices...

The National Insurance Commission (NAICOM) has disclosed that the total assets Nigeria’s insurance industry grew to about N2.3 trillion in the second quarter (Q2) of 2022, representing an increase of 11.9 per cent over the first quarter. The disclosure was made at the weekend in a bulletin on Insurance Market...

The NGX recorded a turnover of 1.005 billion shares worth N10.406 billion in 17,844 deals this week   in contrast to a total of 562.856 million shares valued at N9.438 billion that exchanged hands last week in 16,013 deals. As usual, the Financial Services Industry (measured by volume) led the activity...

The Nigerian Exchange Group Plc. (NGX Group) held its 61st Annual General Meeting (AGM) in Lagos on Friday, 30 September 2022, where shareholders approved resolutions by the company’s Board of Directors. Mr. Apollos Ikpobe and Dr. Okechukwu Itanyi retired by rotation and were re-elected as non-executive directors. Professor Enase Okonedo’s...

The Central Bank of Nigeria (CBN) said it has recovered N3.7 trillion out of the N9.3 trillion it lent to different sectors of the economy under its Development Interventions Programme. The Director of Development Finance Department, Dr Yusuf Yila disclosed this on Wednesday in Abuja at the post-MPC briefing of...

  Ardova Plc held its 43rd Annual General Meeting (AGM) at the Southern Sun Hotel, Ikoyi on 27 September 2022.  In adherence to the guidelines from the Corporate Affairs Commission (CAC), the AGM was held by proxies that could exercise shareholder voting rights.  Also, the proceedings of the AGM was...

The Central Bank of Nigeria (CBN) on Tuesday, raised its benchmark interest rate, known as Monetary Policy Rate (MPR), to 15.5 per cent, the third straight hike this year. After the two-day Monetary Policy Committee (MPC) meeting in Abuja, the CBN also raised the Cash Reserve Ratio (CRR) to 32.5...

  With the unanimous support received from her shareholders, Sterling Bank, soon to be known as Sterling Financial Holdings Company, is firmly positioned to expand her financial services footprint from traditional banking and deliver more value to her shareholders. According to the publicly available filings reviewed from the website of...