Payment solution company, SystemSpecs, has announced the launch of its Remita Payroll processing solution in Ghana. The Remita software currently powers Nigeria’s Treasury Single Account (TSA) which allows the government to effectively manage its revenue. The introduction of the payroll system, which is designed to make it extremely easy for Businesses, NGOs, SMEs and organisations […]
Tag: XNSA_ACCESS
Nigeria: Market Analysts Identify Stocks With Strong Fundamentals
Amidst the ravaging bears that has pushed the equities market to a 15-month low on Monday, analysts at Afrinvest West Africa have unveiled some stocks that have upside potential to fetch investors significant capital growth. The stocks are in the banking, consumer goods and industrial goods sectors. In the banking sector, for instance, the said […]
NSE-ASI Extends Losing Streak To 5-Sessions, Sheds 0.48%
The Nigerian Stock Exchange (NSE) All – Share- Index (NSE-ASI), yesterday, extended losing streak for the fifth consecutive trading days by 0.48 per cent amid sustained profit taking activity. In summary, the ASI shed 162.52 absolute points, representing a decline of 0.48 per cent to close at 33,449.17 points. Also, the market capitalisation declined by […]
GSE Ends In Red Despite MTN Listing
The Ghana Stock Exchange (GSE) last week had Ghana’s telecommunication giant – MTN Ghana Ltd, listed after successfully attaining the minimum requirement for enlistment. In spite of the wider options for trading, equity indices continued to nosedive on account of bearish closure of some top companies in the financial and energy sectors. With the equity […]
Nigeria stocks drop to 14-month low as banks, consumer firms fall
Reuters LAGOS, Sept 10 (Reuters) – Nigerian stocks fell to their lowest point in almost 14 months on Monday after investors sold banking and consumer goods shares. The main share index fell 1.25 percent to close at 33,611 points. "Today’s market performance reflects investors’ bearish outlook on the market as political risks remain heightened in […]
Nigeria: Hi’18 – Gross Earnings of Tier-1 Banks Down By 0.9% to N1.3trn
There are indications that the sluggish economic environment may have taken a toll on tier-1 banks forcing their aggregate topline figures into negative position in the first half of 2018, H1’18. The banks, namely First Bank of Nigeria Plc, United Bank for Africa Plc, Zenith Bank Plc, Guaranty Trust Bank Plc and Access Bank Plc […]
Finance Nigeria’s central bank has deducted N1.8 billion fine from Stanbic IBTC account over MTN ‘improper repatriation’
Yinka Sanni, Stanbic IBTC Holdings CEO (City Scoop) Nigeria’s central bank (CBN) has deducted the sum of N1.886 billion from Stanbic IBTC Bank Plc for breaking forex rules in MTN fund repatriation. Recall that the apex bank slammed a huge N5.8 billion fine on four banks for allegedly aiding MTN in illegal capital repatriation. The […]
These billionaire banking investors earned over N2 billion from interim dividends
Billionaire’s watch is a weekly column where we look at happenings around billionaire investors on the Nigerian Stock Exchange (NSE) Last week’s release of H1 2018 results by Access Bank Plc and UBA Plc completes the results by the FUGAZ Banks. (FUGAZ stands for FBN Holdings, UBA Plc, Guaranty Trust Bank, Access Bank and Zenith […]
Nigeria’s largest banks post N1.2 trillion gross earnings in first half of 2018
Jim Ovia Nigeria’s tier one banks (known by the acronym, FUGAZ) posted a total of N1.28 trillion as gross earnings for the six months ended June 2018. This marks a slight decrease, compared to N1.29 trillion posted in the comparative period of 2017. Profit before tax howe, however, from N338.2 billion in 2017 to N359 […]
Stocks Market Up By 0.28% Amid Bargain Hunting
The Nigerian stocks market rose yesterday by 0.28 per cent amid renewed bargain hunting activity in Banking and Oil & Gas stocks. In summary, the All Share Index (ASI) gained 96.18 absolute points, representing a growth of 0.28 per cent to close at 34,933.86 points. Similarly, the market capitalisation gained N35 billion to close at […]