Business

Young people have been urged to plan their future by engaging in savings and investments from an early age. This was stated by Mr. Nestor Ikeagu, Director Market Development, Department of the Securities and Exchange Commission (SEC) during the commemoration of the Global Money week by the Commission in Abuja on Thursday. Ikeagu stated that the Commission is on a…

The management of Dangote Cement Plc has revealed that it plans to pay N340 billion as dividends to its shareholders for the year ended 31 December, 2022. The company’s AGM is slated for April 13, 2023. Shareholders are expected to approve the proposal for the huge sum to be paid. In a notice of AGM, signed by Dangote Cement’s Acting…

The equities market of the Nigerian Exchange Limited (NGX) recovered from seven consecutive sessions of losses on Tuesday, posting a N10 billion in market capitalisation. Also, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at its second meeting of the year, voted to raise the MPR further by 50basis points to 18 per cent; retain the…

Members of the Central bank of Nigeria (CBN) Monetary Policy Committee (MPC) on Tuesday said they were convinced that further interest rate would not adversely impact the Nigerian banking system’s stability. The committee after a two-day MPC meeting voted to hike interest rate to 18 per cent from 17.5 per cent and retained other rates.    The voting pattern shows…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday voted to raise the interest rate or Monetary Policy Rate (MPR) further by 50basis points to 18 per cent from 17.5 per cent. At its second meeting of the year, the members voted to retain the asymmetric corridor of +100/-700bps around the MPR; retain the CRR…

Investors’ profit-taking resonated on the trading floor of the Nigerian Exchange Limited (NGX) on Monday over the possibility of the Central Bank of Nigeria (CBN) to increase its monetary policy rates. The Monetary Policy Committee (MPC) of the CBN will meet this week to decide on various monetary and economic indicators in the face of an unabating trend in the…

…gets N44.85m sanction for failing to report export proceeds Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), among other regulating agencies have imposed N159million sanction on Stanbic IBTC Holdings Plc in 2022 over various market infractions. The group in 2021 was sanctioned N233 million by CBN, among other agencies for failing to comply with banking and other regulations.…

As the world celebrates the Global Money Week from March 20-26 2023, the Securities and Exchange Commission (SEC) has again emphasized the need for children and young people to develop sound financial habits, knowledge, attitudes, and behaviours from a young age. This, the Commission said, will help them to know how to manage their personal finances throughout their lives and…

Extending its losing streak for the fifth successive session, the equities market of the Nigerian Exchange Limited (NGX) on Thursday lost N313 billion as investors continued their profit taking. The NGX All Share Index (ASI) fell by 574.59 basis points or 1.04 per cent to close at 54,915.61 basis points. Accordingly, investors lost N313 billion in value as market capitalisation…

FCMB Group Plc has successfully completed the issuance of a N20.68billion perpetual 16% Fixed Rate Resettable NC5.25 Additional Tier I Capital Subordinated Bonds under its N300billion debt issuance programme. The Group’s AT1 Issuance is the first non-sharia local currency AT1 instrument issued in Nigeria and the Group’s maiden issuance of its N300 billion funding programme in the Nigerian capital market…