Money

InfraCredit admits AIICO Insurance as 2nd domestic institutional investor

DailyTimesNGR DailyTimesNGR 21 December 2023 0

By Motolani Oseni A specialised infrastructure credit guarantee institution, InfraCredit said, it has admitted equity investment of AIICO Insurance Plc, representing five percent of total share capital of InfraCredit and joining Leadway Assurance Plc as the second private domestic institutional

Money

NGX benchmark index relapses as market cap sheds N5.17bn

Ihesiulo Grace 20 July 2023 0

By Motolani Oseni The equities market of the Nigerian Exchange Limited (NGX) at the end of mid week trading activities relapsed as market capitalisation declined by N5.17billion. Specifically, the domestic bourse slipped as the benchmark index closed 0.01 per cent weaker to settle at 63,757.23 points, while market capitalisation shed N5.17bn to close at N34.72trillion.

Money

First Bank Restates Commitment To Financial Inclusion

Ihesiulo Grace 13 April 2023 0

By Temitope Adebayo First Bank of Nigeria Limited has reiterated its commitment towards financial inclusion in the country as it joined the rest of the world to participate in the 2023 edition of the Global Money Week (GMW) held recently. Global Money Week is an annual global awareness-raising campaign on the importance of ensuring that […]

Money

NGX index closes flat as market cap up N230.80m

Ihesiulo Grace 13 April 2023 0

By Temitope Adebayo At end of yesterday’s trading activity on the equities market of the Nigerian Exchange Limited (NGX), the market benchmark index closed flat, as the benchmark index settled at 51,953.41 points, while the market capitalization gained N230.80million to close at N28.30trillion. Specifically, the All Share Index (ASI) closed at 51,953.41 points, slightly

Money

IMF approves immediate debt relief for 25 countries

Ihesiulo Grace 14 April 2020 0

The International Monetary Fund’s (IMF) Executive Board has approved immediate debt service relief to 25 of its member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT). Ms Kristalina Georgieva, the Managing Director, said this in a statement issued in Washington, D.C. on Tuesday. According to her, the relief was part of the […]

Agriculture Business Economy Money Money

President Buhari charges groups to access loans

Ihesiulo Grace 15 October 2019 0

President Muhammadu Buhari on Tuesday in Abuja has called on various groups to access government interventions, loans and schemes to promote agriculture with the view of ending poverty. Buhari, represented by the Vice-Chairman, National Food Security Council and Gov. Atiku Bagudu of Kebbi State, made the appeal during the second National Unity Food Fair, organised […]

Business Economy Money Money World

Singapore eases monetary policy for first time in three years

Ihesiulo Grace 15 October 2019 0

The central bank of Singapore eased monetary policy for the first time in three years on Monday, as widely expected, with the city-state’s bellwether economy narrowly dodging recession. Singapore – which is due to hold an election within months – has like other trade-reliant Asian economies been hit hard by the escalating U.S.-China trade war […]

Business Economy Money Money Oil & Gas

Fuel subsidy to gulp N450 bn in 2020 -finance minister

Ihesiulo Grace 15 October 2019 0

Mrs Zainab Ahmed, the Minister for Finance, Budget and National Planning says under-recovery of Premium Motor Spirit (PMS), popularly referred to as fuel subsidy will gulp N450 billion in 2020. She said this on Monday in Abuja, at the public presentation of the 2020 budget proposals. Ahmed said it was called ‘under-recovery’ because it was […]

Business Economy Money Money World

Global stocks, pound rise on cautious Brexit deal hopes

Ihesiulo Grace 15 October 2019 0

Asian stocks and the pound gained on Tuesday as investors held out hope that Britain still had a chance of avoiding a messy exit from the European Union (Brexit) at key negotiations this week. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent. Australian shares were up 0.17 per cent, while […]

Business Economy Money Money

Brace up for tax remittances, expert urges youths

Ihesiulo Grace 11 October 2019 0

Nigerian youths have been hinted that they will form a large chunk of the 45 million tax payers by December 2019, a target set by the Federal Inland Revenue Services (FIRS). This is according to an expert, Mr Agu David who highlighted the importance of tax paying to select youths at the Poetry meets tax […]

Banking Business Economy Money Money

CBN issues guidelines for indirect participants in payments system

Ihesiulo Grace 11 October 2019 0

The Central Bank of Nigeria (CBN) has issued regulations governing the operations of the in-direct participants in the payments system. The apex bank in its latest circular titled, “Regulation for the operation of indirect participants in the payments system”, listed the minimum criteria to qualify as an indirect participant having a satisfactory risk-based rating from

Business Economy Money Money

World Investor Week: NSE joins WFE, IOSCO to promote importance of financial literacy

Ihesiulo Grace 8 October 2019 0

The Nigerian Stock Exchange (NSE) has joined The World Federation of Exchanges (WFE) and International Organization of Securities Commissions (IOSCO) in promoting the importance of financial literacy. The Exchange hosted the inaugural “Ring the Bell for Financial Literacy” initiative, using its Closing Gong ceremony to further, draw attention to the importance of financial

Banking Business Economy Money Money

60% LDR: How stock price of sanctioned banks depreciate on NSE

Ihesiulo Grace 4 October 2019 0

The stock price of five banks out of 12 sanctioned by the Central Bank of Nigeria (CBN) on Thursday depreciated on The Nigerian Stock Exchange (NSE). The apex bank on Wednesday debited 12 banks who failed to meet the initial deadline of 60 per cent Loan to Deposit Ratio (LDR) by September 30, 2019, in […]

Banking Business Money Money News

Fidelity Bank to splash N120m in Season 4 savings culture promo

Ihesiulo Grace 4 October 2019 0

Fidelity Bank Plc on Thursday announced the introduction of a new savings campaign in Lagos, as part of concerted efforts to promote the culture of savings amongst Nigerians. The Savings the campaign which will ride primarily on digital technologies is one of the many initiatives of the bank aimed at rewarding new and existing customers […]

Banking Business Economy Money Money

Equities market declines by N112bn over investors sustained profit-taking

Ihesiulo Grace 4 October 2019 0

The equities market segment of the Nigerian Stock Exchange (NSE) on Thursday continued on a downward trend as investors’ investment declined by N112 billion on the back of sell-offs in high capitalised stocks. The All Share Index (ASI) decreased by 229.18 absolute points, representing a dip of 0.84 per cent to close at 27,085.69 points. […]

Banking Business Economy Money Money

Implementation of cashless policy poses threat to MSMEs survival – MAN

Ihesiulo Grace 2 October 2019 0

The Manufacturers Association of Nigeria (MAN) has said that the implementation of the cashless policy on withdrawals may have a negative impact on Micro, Small, and Medium Enterprises (MSMEs) that are clearly the engine room for growth of the economy and employment generation. Expressing its concern over the possible implication of Central Bank of Nigeria […]

Banking Business Computers Money Money Tech

UBA is now available on Apple Business Chat

Ihesiulo Grace 20 September 2019 0

United Bank for Africa (UBA) Plc, on Thursday, announced that the services of its Chatbot, Leo is now available for customers on Apple Business Chat, where its users can communicate directly with businesses using the Messages app on iPhone and iPad. Speaking at the launch of the service in the bank’s Head office on Thursday, […]

Banking Business Economy Money Money Tech

Penchant for cash transactions, bane of digital payment system – eTranzact DMD

Ihesiulo Grace 20 September 2019 0

The Deputy Managing Director (DMD), eTranzact International Plc., Hakeem Adeniji-Adele, has identified the Nigerian culture and penchant for cash transaction as the bane of digital payments in the country. He made the assertion as the latest figures from the Nigeria Inter-Bank Settlement System (NIBSS), which put the total value of transactions on automated teller machines

Business Economy Money Money Oil & Gas

Excess Crude Account hits all-time low at $274.583m

Ihesiulo Grace 20 September 2019 0

Nigeria’s Excess Crude Account has been depleted to an all-time low of $274.583 million, which is believed not adequate to sustain the country in a stormy financial shock should oil prices fall below the budget benchmark. The Honourable Minister of State for Budget and National Planning, Zainab Ahmed, disclosed this while reporting to the National […]

Banking Business Economy Money

CBN reschedules September 2019 MPC meeting

Ihesiulo Grace 18 September 2019 0

Temitope Adebayo The Central Bank of Nigeria (CBN) has rescheduled its September 2019 Monetary Policy Committee (MPC) meeting by one week. The Director of Corporate Communications, Isaac Okoroafor disclosed this in a statement released on Tuesday. Okoroafor noted that the meeting earlier scheduled for next week will now hold on Thursday and Friday this week. […]