Stanbic IBTC Holdings Plc has notified the Nigerian Stock Exchange (NSE) that its subsidiary, Stanbic IBTC Ventures Limited (SIVL) has applied to the Securities and Exchange Commission (SEC) to surrender its licence as a Venture Capital Manager. The Group in a notice signed by Chidi Okezie, its Company Secretary, said the surrender was entirely voluntary […]
The Central Bank of Nigeria has debited the four banks it sanctioned over the breaching of its capital importation policy of N5.87 billion. The banks affected are Standard Chartered Bank, N2.4 billion; Stanbic IBTC, N1.88 billion; Citibank Nigeria, N1.2 billion; and Diamond Bank, N250 million. The banks were accused by the CBN of issuing irregular […]
ABUJA (Reuters) – Nigeria’s central bank has debited 2.4 billion naira ($7.9 million) in fines from Standard Chartered and 1.2 billion naira from Citigroup for allegedly helping South African telecoms firm MTN move funds abroad. The central bank normally debits the account of banks when it imposes a fine or to implement aspects of its […]
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 […]
Feyisayo Popoola The nation’s equities market extended its decline on Thursday as it shed N111bn following the price depreciation recorded by 31 stocks at the close of trading. The All-Share Index and market capitalisation of equities listed on the Nigerian Stock Exchange fell by 0.88 per cent to close at 34,110.22 basis points and N12.452tn […]
Goddy Egene The stock market rebounded yesterday as the Nigerian Stock Exchange All-Share Index (NSE ASI) rose 0.28 per cent to close at 34,933.68 after opening the month on a negative note the previous day. Similarly, market capitalisation added N36.1 billion to close at 12.8 trillion. Buying interest in banking stocks such as Zenith Bank […]
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 […]
Central Bank of Nigeria’s (CBN) governor Godwin Emefiele The Central Bank of Nigeria (CBN), yesterday, gave details of how MTN Nigeria Limited and four banks perpetrated the $8.13 billion illegal transactions, using false information and deliberate disregard for the rules. The details, which were contained in a CBN’s letter to the organisations involved in the […]
The Federal Government has asked MTN Nigeria to pay taxes of $2bn (N700bn), six days after the Central Bank of Nigeria ordered it to repatriate $8.13 billion ‘illegally taken out of the country’. The telecom company said in a brief statement that the Attorney General’s office gave “notice of an intention to recover the $2 […]
© Reuters. Nigeria stocks higher at close of trade; NSE 30 up 0.37% Investing.com – Nigeria stocks were higher after the close on Tuesday, as gains in the Banking , Oil & Gas and Insurance sectors led shares higher. The best performers of the session on the NSE 30 were Diamond Bank (LAGOS: DIAMONB ), […]
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