Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the mainstream business activities, while not forgetting the tech/economy build up. Here are the Headlines : CBN fines three banks N800m for crypto transactions DMO begins Q2 borrowing, as it […]
Working in the banking industry is a dream for many Nigerian graduates because they believe there is a lot of money to be made And indeed there is, as 10 commercial banks paid workers salaries and wages of over N400 billion in 2021 The amount captured in this report only covers salaries and wages and […]
Central Bank of Nigeria (CBN) The Central Bank of Nigeria (CBN) has imposed monetary sanctions of N814.3 million (nearly $2 million) on four commercial banks in the country for permitting cryptocurrency transactions, Bloomberg reports. The sanctions come over a year after the apex monetary authority placed an implicit ban on cryptocurrencies in Africa’s largest democracy […]
CBN fines Access Bank, Stanbic IBTC and UBA $1.9 million for facilitating crypto transactions Access Bank Plc received the largest portion of the fine at $1.2 million, followed by Stanbic IBTC Bank and UBA. Recall that the CBN had earlier in 2021 ordered Nigerian banks to close down all the bank accounts linked to cryptocurrency […]
MTN AND Dangote Cement Kayode Tokede Despite economic challenges, investors’ in the Nigerian capital market has continued to enjoy mouthwatering return on investment as most highly capitalised declares improved dividends. For instance, Dangote Cement Plc, MTN Nigeria, Zenith Bank Plc, among five other companies listed on the Nigerian Exchange Limited (NGX) have proposed a total […]
Tijani Babatunde Folawiyo Akin Kuponiyi A Federal high court sitting in Lagos on Thursday granted an order for AMCON to take over the assets of a Lagos businessman Tijani Babatunde Folawiyo. The asset seizure was ordered based on Falawiyo’s unpaid debt of N727.9 million. The order of the court was sequel to an application filed […]
United Bank for Africa Plc is Africa’s global bank with a presence in the United States of America, the United Kingdom and France and more recently the United Arab Emirates Africa’s global bank, United Bank for Africa (UBA) Plc, has assured its shareholders and investors of excellent performance in the 2022 financial year, as the […]
Top stocks to watch this week More firms released their financial reports for 2021 last week, a majority of them large-cap stocks from sectors as varied as energy, consumer goods, banking and industrial goods. Much as quite a number posted spectacular earnings, two of the five big banks reported passably impressive earnings, while GTCO’s was […]
United Bank for Africa (UBA) Plc, has assured its shareholders and investors of excellent performance in the 2022 financial year, as the bank continues to deepen its foothold to reap the benefits of its investments in strong and innovative digital product offerings and expanded scope over the past few years. The Group Managing Director/Chief Executive […]
[FILES] Photo/facebook/ngxgroup The bears maintained dominance on the equities sector of the Nigerian Exchange Limited, (NGX) for the second successive session yesterday, as many blue-chip stocks depreciated in price, resulting in a further decline in market capitalisation by N47 billion. In summary, the All-Share Index (ASI) declined by 87.81 absolute points, representing a decrease of […]
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