The Nigerian equities market closed the trading week last Friday on a positive note as the Nigerian Exchange Limited (NGX) All Share Index or ASI rose by 0.23 per cent to close at 38,962.28pts. Similarly, the NGX-ASI closed up by 0.05 per cent week-to-date (WTD). At the close of trade last Friday, market breadth index […]
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 […]
Price Waterhouse Coopers building in Oslo seen from the Opera house. In 2020, PricewaterhouseCoopers received the highest earnings of N2.98 billion from auditing three of the big five Nigerian banks called FUGAZ. The four biggest global audit firms earned a whopping N6.13 billion from 11 Nigerian banks as audit fees for 2020, a review by […]
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 […]
The bears returned to the Nigerian equities market during the week ended Friday, 18th June 2021 after two consecutive weeks of gains. Investors in Nigeria’s stock market lost about N266 billion as the market capitalisation declined by 1.3% to close at N20.14 trillion. This is according to the weekly stock market report released by the […]
A Federal High Court sitting in Lagos has restrained Integrated Energy Distribution and Marketing Company Ltd and Polaris Bank from tampering, howsoever, with funds standing to their credit up to $6,759,000 (about N2.8 billion) or its equivalent in any currency in 25 banks, the Debt Management Office and Federal Ministry of Finance. Justice Daniel Osiaigor, […]
The bank is also considering launching virtual cards. The Central Bank of Nigeria (CBN) on Thursday said its digital currency may be launched by the end of 2021. Rakiya Mohammed, an Information Technology Specialist with CBN, made the disclosure at an online news briefing at the end of Bankers Committee meeting. According to her, the […]
Our Reporter A Federal High Court in Lagos has restrained Triton Aqua Africa Limited, Bharat Ventures Limited, Globus Resources Limited, Seafood Products Limited and Mr. Ashvin Samtani from accessing their N2,193,610,859.47 billion in 24 banks. Justice Oluremi Oguntoyinbo, who gave the order yesterday, ruled that the interim order subsists pending the hearing and determination of […]
Charles Abuede The Nigerian Equities Market started the new week on a bearish note, with traders and investors alike coming back from the short Easter break to extend the persistent bearish run the market has been experiencing into the fourth trading session as investors lost N78.5 billion on the first trading day in April. The […]
[FILES] The reception area at the Nigerian Stock Exchange in Lagos, Nigeria. PHOTO: Ruth McDowell/ 2019 Bloomberg Finance As Onyema ends tenure as NSE’s CEO Following losses by most blue-chip stocks, the Nigerian Stock Exchange (NSE) sustained a sliding profile at the opening of the week yesterday, leading to a fall in market capitalisation by […]
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