Nigerian Exchange Group (NGX) Transactions on the floor of Nigerian Exchange Limited (NGX) reversed gains to close on a downturn yesterday as losses in the shares of Eterna, and 16 others dragged market capitalisation by N30 billion. Specifically, at the close of trading yesterday, the All-Share Index (ASI) depreciated by 57.03 absolute points, representing a […]
Nigerian Exchange Group (NGX) The Nigerian Exchange Limited (NGX) reopened on a downward note yesterday, occasioned by losses incurred by most blue-chip stocks, especially by Champion Breweries and Eterna Plc, as market capitalisation depreciated by N83 billion. The All-share index slumped by 158.98 points to 39,326.67 from 39,485.65 posted on Friday. Similarly, market capitalisation of […]
PwC, KPMG, Delloite, Ernst & Young The four biggest global audit firms earned a whopping N6.13 billion from 11 Nigerian banks as audit fees for 2020, a review by PREMIUM TIMES shows. The big four are PricewaterhouseCoopers (PWC), Deloitte , KPMG and Ernst & Young. Data from banks’ corporate reports show that the amount was […]
Darasimi Adebisi The Nigerian equities market yesterday closed transactions on a negative sentiment to halt the bullish sentiment of two consecutive trading sessions at the close of trade last Friday, as investors lost N51.03billion. The downturn was buoyed by investors’ sell-sentiment on the Insurance and Industrial Goods sector. In summary, the Nigerian Exchange Limited (NGX) […]
While Zenith’s Ebenezer Onyeagwu took a pay rise of more than four per cent, Innocent Ike of Polaris took N19 million cut. The CEOs of 11 commercial banks out of the 13 listed on the Nigerian Exchange Limited as well as those of two unlisted banks earned N1.7 billion between them in executive pay for […]
Fitch Ratings has affirmed the long-term Issuer Default Ratings (IDRs) of FBN Holdings Plc (FBNH) and its subsidiary, First Bank of Nigeria Ltd (FBN), at ‘B-‘. But the rating agency in a statement yesterday assigned the financial institutions negative outlooks. According to the global rating agency, the negative outlooks primarily reflected the corporate governance weaknesses […]
Nigerian Banks <i>Nigerians conducted electronic transactions in just four payment categories, summing up to N178 trillion in 2020 alone, a half bigger than the N119 trillion reported the year before.</sub> Most Nigerian banks ironically lost e-business revenue in 2020 after the coronavirus crisis-induced lockdowns pushed more people online, with increased online payments and transfers, with […]
With stability in the Nigerian economy following ease in Covid-19 lockdown, some banks Non-Performing Loans Ratio (NPL) dropped in half year ended June 30, 2021, leading to the reduction of provision for bad loans (Impairment losses on financial instruments losses) by the banks. The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele had at the […]
Negative sentiments continued on the nation’s bourse on Wednesday with the market capitlisation dropping further by N6 billion following sell pressure of some blue chips. Speficially, the market capitalisation lost N6 billion or 0.03 per cent to close at N20.210 trillion compared with N20.216 trillion achieved on Tuesday. In the same vein, the All-Share Index […]
Twenty-three companies listed on the Nigerian Exchange Limited recorded year-on-year losses worth N105.78bn in their market capitalisation as the half-year period ended in June. According to data from the NGX available to our correspondent, 23 firms led by CWG Plc failed to increase their share prices after a year of trading between June 30, 2020 […]
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