Nigeria’s equities market closed negative on Wednesday as bears dominated the trading session, thereby driving down the market capitalization. Information on the day’s session indicated that the All-share Index (ASI) depreciated by 0.16% to close at 52,615.51 points while the market capitalization dipped by N46 billion to close at N28.658 trillion. The Year-to-Date (YtD) returns […]
Jaiz Bank Plc has, in its Q1 2023 earnings forecast submitted to the Nigerian Exchange Limited (NGX), projected N9.780 billion as gross earnings in the first quarter of this year. The bank made the projection in its submission to the NGX, even as it forecasts a profit before tax (PBT) profit of N1.403 billion and […]
The Nigerian Exchange Limited (NGX) has announced its collaboration with the International Finance Corporation (IFC) on a research on gender-based violence and harassment in Nigerian workplaces. The NGX stated that study was being conducted as part of the Nigeria2Equal initiative, which aims to address Gender-Based Violence and Harassment (GBVH) in the private sector and provide […]
The Central Bank of Nigeria (CBN) has issued a Payments Service Holding Company Licence (PSHC) to Chams Holding Company Plc (Chams HoldCo) based on the company’s strong electronic payment licences’ capability over the past few years. The licensed firm is one of Nigeria’s leading identity management and digital payment solutions provider that over the past […]
The Federation Account Allocation Committee (FAAC) has reported that the three tiers of government shared a total sum of N990.189 billion as allocation from the Federation Account in December 2022, representing a 9.8% increase over the N902.053 billion shared by them in November 2022. The figures were contained in a statement issued on the allocation […]
The International Islamic Trade Finance Corporation (ITFC) and the Islamic Solidarity Fund for Development (ISFD), both members of the Islamic Development Bank (IsDB) Group, have announced the signing of the Trade Finance Support Programme for the least developed member countries (LDMCs) affected by the COVID-19 and the food security crises. The initial beneficiaries of this […]
The International Monetary Fund (IMF), one of the global multilateral finance institutions, has reported that about 15% of low-income countries (LICs) are trapped in debt distress while 45% of the population faces high risks of indebtedness as rising restrictions continue to constrain global economies. The development finance institution made this projection in a new report […]
The Naira suffered marginal loss in its exchange rate to the US dollar on Tuesday at the black market, trading at N747/S1 in the early hours of the day, representing 1.63% depreciation when compared to the N735/$1 trading value it maintained in the last three trading sessions. Some black market operators linked the marginal slide […]
The Nigerian Exchange (NGX) closed positive at the end of Tuesday’s trading session characterized by buy-interests and sell-offs among investors as bulls regain hold on the local bourse, resulting in N192 billion gain for investors. While the All-share Index (ASI) appreciated by 0.67% to close at 52,701.31 points, the Market Capitalization grew by N192 billion […]
The Financial Institutions Training Centre (FITC), a non-profit organization providing knowledge-based ICT solutions to clients in Nigeria’s and other African countries’ financial system, has reported that bank customers in Nigeria lost N1.17 billion to fraud in Q2 2022. Based on the findings of its study on the banking sector, the organization reported that data from […]