ABUJA, Aug 30 (Reuters) – Nigeria’s Access Bank expects the country’s banking industry to hold its regular committee meeting soon to discuss South African telecoms firm MTN’s repayment of $8.1 billion, on the orders of the central bank. Access Bank Chief Executive Herbert Wigwe said the bank has a minor holding at MTN group level […]
FUGAZ banks earn N1.1 trillion at half year 2018 Nigeria’s tier one banks (known by the acronym, FUGAZ) made a total of N1.22 trillion as income for the six months ended June 2018. This marks a slight decrease, compared to N1.21 trillion made in the comparative period of 2017. Profit before tax however rose from […]
Nigerian Stock Exchange Following renewed bargain hunting embarked upon by stock market investors, transactions on the equity sector of the Nigerian Stock Exchange (NSE), closed upbeat yesterday, as the All-share index rose marginally by 0.3 per cent. Specifically, at the close of transactions yesterday, the All Share Index (ASI) gained 96.18 absolute points, representing a […]
Trading on the Nigerian Stock Exchange closed on a positive note on Tuesday, with OkomuOil leading the gainers’ table for the day. The News Agency of Nigeria reports that the crucial market indicators appreciated marginally by 0.27 per cent. Market observers attributed the growth to the price gains made by some blue chips, which they […]
Goddy Egene The stock market rebounded yesterday following bargaining hunting in banking and consumer goods counters. The market had opened for the week on Monday with a decline of 0.32 per cent. However, the losses were pared yesterday, leading to a growth of 0.53 per cent in the Nigerian Stock Exchange All-Share Index (NSE ASI) […]
Access Bank Plc Loans and advances to customers dropped to N1.905 trillion from N1.996 trillion, while deposits from customers also declined to N2.409 trillion as against N2.245 trillion in 2017. As the one-tier bank declares a profit after tax of N39.625 billion and also offered an interim dividend of 25 kobo per share, amounting to […]
Nigerian Stock Exchange Central Bank of Nigeria (CBN) huge fines on four deposit money banks over alleged illegal fund repatriation on behalf of MTN Nigeria weighed heavily on the local bourse yesterday, causing the All-share index to slide by 0.77 per cent. The Nigerian Stock Exchange-All Share Index (NSE-ASI) decreased by 272.27 absolute points, representing […]
MTN stand at TechFest 2018 As the conversation continues about the CBN order requiring MTN to repatriate $8.1 billion to Nigeria as well as the sanctions imposed on 4 banks, CSL Stockbrokers has shared an opinion- describing the development as yet another regulatory quagmire. The stockbroking firm made this known in a series of tweets […]
Lawmakers also voted to delay a proposed 16 percent tax on petroleum products for two more years, citing the high cost of living — a move that will be a blow to government efforts to raise revenues through higher taxes. The rate cap, introduced in September 2016, was aimed at helping small traders access capital […]
•Lender records N39.6b net profit Access Bank Plc will distribute N7.23 billion to its shareholders as interim dividend for the first half of this year as the commercial bank sustained modest growths in earnings. Shareholders will receive interim dividend per share of 25 kobo. Access Bank had distributed N18.8 billion as cash dividend for the […]
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