Four commercial banks have been sanctioned by the Central Bank of Nigeria (CBN) for various forgeries in foreign exchange transactions between 2007 and 2015. For these infractions, they are to refund N5.87 billion to the apex bank. According to the CBN, the sanctions are essentially for "flagrant violation" of extant laws and regulations of the […]
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Nigeria: CBN Sanctions MTN, Four Banks – Demands Refund of Illegally Repatriated N3.09 Trillion
The Central Bank of Nigeria (CBN) on Wednesday wielded the big stick on mobile telecom firm, MTN Nigeria Communications Limited, and four commercial banks for alleged financial infractions. The CBN’s spokesperson, Isaac Okorafor, in a statement sent to PREMIUM TIMES on Wednesday said the apex bank wrote to MTN Nigeria demanding a refund of about […]
NSE: Bears halt 2 days’ gaining streak
Key performance indices, the NSE All Share Index (ASI) and market capitalisation, yesterday fell by 0.32 per cent, halting two days gaining streak, as market speculators embarked on profits taking. Driven by decline in value of most financial and consumer stocks, the equities market began the trading week on a negative note. Consequently, the All-Share […]
Equities Market Loses N42bn
Nigerian equities market yesterday began the trading week on a decline, to reverse the previous trading days’ positive trend, as investors lost N42billion. The Nigerian Stock Exchange -All Share Index (NSE-ASI) shed 114.81 absolute points, representing a decline of 0.32 per cent to close at 35,311.36 points. Also, the market capitalisation declined by N42 billion […]
NSE All-share Index Drops By 0.32 Percent
stock exchange market complex, Lagos The All-share index at the Nigeria Stock Exchange shrank by 0.32 percent to settle at 35,311.36 basis points at the end of trading on Monday. This is as the market capitalization dropped to N12.891tn from N12.933tn made on Friday. Overall, the NSE depreciated by N42bn just as there were 14 […]
NSE: Transactions bearish as index falls by 0.32%
Equity transactions resumed on the Nigerian Stock Exchange on Monday on a negative note with market indices dropping marginally by 0.32 per cent. The News Agency of Nigeria reports that the market capitalisation shed N42 billion or 0.32 per cent to close at N12.891 trillion against N12.933 trillion posted on Friday. Also, the All-Share Index, […]
Nigeria stocks lower at close of trade; NSE 30 down 0.01%
© Reuters. Nigeria stocks lower at close of trade; NSE 30 down 0.01% Investing.com – Nigeria stocks were lower after the close on Monday, as losses in the Food, Beverages & Tobacco , Oil & Gas and Banking sectors led shares lower. The best performers of the session on the NSE 30 were Diamond Bank […]
FMDQ appoints GTB, Diamond Bank MDs, others as directors
Feyisayo Popoola The Board of Directors of FMDQ OTC Securities Exchange has appointed the Managing Directors of Guaranty Trust Bank Plc, Mr Segun Agbaje, Diamond Bank Plc, Mr Uzoma Dozie, and three others, as non-executive directors. The FMDQ said in its July 2018 newsletter that the appointment of the five new directors, which was announced […]
Equities Market Opens Week Bearish on Losses by Bellwethers
Trading floor of the Nigeria Stock Exchange The Nigerian equities market started the week on a bearish note following losses by bellwether stocks such as Dangote Cement Plc, Nigerian Breweries Plc, GTBankPlc, FBN Holdings Plc. The benchmark index, the Nigerian Stock Exchange (NSE) All-Share Index declined by 0.06 per cent to close at 36,479.42, while […]
Seven banks reap N244bn in fees, commission
Predictions that declining yields on securities, coupled with continuing tight conditions in the credit market, would make deposit money banks (DMBs) in the country to increase their focus on other sources of income seem to be coming to pass. Already, seven lenders raked in a total of N244.15 billion as fees and commission income in […]