‘Dominance of foreign investors not good for stock market’
Capital market experts have expressed concerns on the volatility and spill over effect caused by over dependence on foreign investors in the nation’s stock market.According to them, the major reason for the depressed state of the market is due to sell down by foreign investors that play dominant role in the nation’s bourse.
Investors transact $1.7b at I&E window
Transactions at the nation’s autonomous foreign exchange market- the Investors and Exporters (I&E) Window, hit a record $1.7 billion in one week, despite relative losses by the local unit across segments.
SEC charges business owners on corporate governance
The Securities and Exchange Commission (SEC) Nigeria has restated the need for business owners in the country to embrace corporate governance as a desirable option to grow enterprises, improve shareholders’ funds and profitability on a sustainable basis.
CBN issued N13.762tr OMO instruments to check inflation in 2017
To contain inflation induced by excess liquidity in the system in 2017, the Central Bank of Nigeria (CBN) last year deployed Open Market Operation (OMO) instruments worth over N13.762 trillion
May & Baker gets approval to raise N3b new capital, sale of asset
May & Baker Nigeria Plc will soon launch its much-awaited rights issue as shareholders of the healthcare company, at the weekend, approved the increase in the authorised share capital of the company to N3 billion.
Microsoft, First Bank partner to empower small businesses
Microsoft and First Bank of Nigeria Limited are collaborating to empower and create an enabling environment for small businesses, as a way of furthering technology adoption, skills and capacity development amongst Small and Medium Enterprises (SMEs) in Nigeria.
Ecobank, Kwara partner on e-governnace solutions
Ecobank has entered into a strategic partnership with the Kwara State Government and South Gate Technologies on land administration.This move, aimed at blocking revenue leakages, entails the computerisation of the end-to-end processes of all land related matters in the state as opposed to the manually driven system.
FCMB inspires customers in a new thematic campaign
First City Monument Bank (FCMB) recently took another bold step to deepen its history of excellence and consolidate its position as one of the foremost financial institutions in Nigeria. The latest milestone came in the form of a new thematic campaign titled, ‘’Feel Confident, Pursue your Aspirations’’.
Stock market index depreciates further by 1.08 per cent
The bears strengthened its hold on the equity sector of the Nigerian Stock Exchange (NSE), as the market extended losing streak at the close of yesterday’s trading, causing the All-share index to plummet by 1.08 per cent. Specifically, at the close of transactions yesterday, the All -Share Index (ASI) depreciated by 422.10 absolute points, representing…
FMDQ market report
Commentary on the foreign exchange (FX) market with data for the week-ended May 25, 2018 ▪ The Central Bank of Nigeria (CBN) intervened through its periodic supply of US Dollars in the FX market, offering $100.00mm at a marginal rate of $/₦332.00 via a Single Secondary Market Intervention Sales (SMIS) – Wholesale session held during…
Keystone Bank returns to profitability with N3.7 billion
After many years in the doldrums and following its most recent acquisition by Sigma Golf-Riverbank consortium, the moves by the new management team at Keystone Bank Limited has begun yielding fruits. The bank for the quarter ended March 31, 2018, recorded a profit before tax of N3.72 billion, compared with a loss of N2.79 billion…