Nigeria’s leading multi-merchant rewards platform ThankUCash has raised $5.3 million in seed funding. The seed round was co-led by 500 Global and Unicorn Growth Capital with participation from Expert Dojo, Predictive VC, SaaS growth Ventures, Betatron Hong kong, Accelerex Holding, Andrew Dell (former CEO of HSBC), Craig Fenton (Director, Strategy & Operations At Google), among […]
Tag: XNSA_WEMABANK
NGX resumes year upbeat, ASI up by 0.73%
The Nigerian Stock Exchange building (image used for illustration) [Reuters/Akintunde Akinleye] Activities on the nation’s bourse kicked off the first trading session of the year on a positive note due to bargain hunting on BUA Cement. Specifically, the All-Share Index advanced by 309.79 points or 0.73 per cent to close at 43,026.23 against 42,716.44 recorded […]
Nigerian Stocks Close 2021 on High Note, Gain 2.16% on Last Day
By Dipo Olowookere The last trading session of 2021 on the Nigerian Exchange (NGX) Limited ended on a high note with a 2.16 per cent growth on Friday, December 31. The growth recorded by Nigerian stocks was triggered by bargain hunting in Nestle Nigeria, MTN Nigeria and a few other blue-chip equities on the trading […]
Nigerian stocks add N172 billion hit five-week peak
Nigerian stocks Nigerian stocks upped by 0.77 or N171.7 billion on Tuesday, an auspicious start for trade in the new year, even though there are still concerns around the chronically depressed levels of trade volume, which crumbled by more than half compared to that of Friday By the agency of gains recorded by BUA Cement […]
How Investors Traded N13.2bn Equities in Three Days to New Year
By Aduragbemi Omiyale The last three trading sessions of 2021 on the floor of the Nigerian Exchange (NGX) Limited were mixed as the market closed positive for two days and negative for a day. The exchange operated for only three days as a result of the public holidays observed last Monday and Tuesday for the […]
Ecobank, GTB Lead eNaira Adoption in Nigeria
Proshare Nigeria Pvt. Ltd. Ecobank and GTB are currently leading in customers adoption of the eNaira. eNaira is Africa’s first Central Bank Digital Currency (CBDC) introduced by the Central Bank of Nigeria (CBN) in October. A report by TheCable says withmore than 2,000 merchant wallets active, about 20 percent are domiciled with Ecobank, while GTB […]
‘589k wallets, GTB leads adoption’ — how eNaira performed in its first month
In October, The Central Bank of Nigeria (CBN) unveiled the very first Central Bank Digital Currency (CBDC) in Africa with a lot of national and international interest on how well the electronic currency will perform and what problems it would solve in the banking and finance space on the continent. TheCable brings you some quick […]
Titan Trust Bank to Take Over Union Bank After 89.39% Stake Acquisition
By Dipo Olowookere One of the new financial institutions in the country, Titan Trust Bank, has taken over one of the old generation banks, Union Bank of Nigeria Plc. Titan Trust Bank, which has veteran banker, Mr Tunde Lemo, as its Chairman, is now in control of Union Bank after acquiring an 89.39 per cent […]
Reps panel recommends suspension of Ecobank from collecting customs’ duties
Reps in Plenary (PHOTO CREDIT: twitter@HouseNGR) The House of Representatives Committee on Customs and Excise has recommended the suspension of Ecobank from further collection of customs’ duties, over infraction in the collection of the duties. The committee chairman, Leke Abejide, said this at the resumed investigative hearing of the committee on some banks’ refusal to […]
Weekly Investment in Nigerian Equities Drops 64.2% to N12.4bn
By Dipo Olowookere Investment in Nigerian equities last week waned by N22.2 billion or 64.2 per cent to N12.4 billion from N34.6 billion in the previous week as only 1.4 billion stocks were traded by investors in 23,987 deals in contrast to the 3.0 billion stocks transacted a week earlier in 25,932 deals. Business Post […]