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Jun
June 13, 2023
| Nigeria’s top five banks gross N4.5 trillion in one year • Sluggish real sector growth raises sustainability question • Sector urged to diversify, rev-up digital innovations – Guardian |
| The top five Nigerian banks by market capitalisation, posted combined gross earnings of N4.5 trillion for their 2022 full-year operations. The five banks, which are FBN Holdings, United Bank for Africa (UBA), GTCO, Access Holdings and Zenith Bank achieved gross earnings of N4.5 trillion, a 20 per cent growth compared to N3.6 trillion posted in 2021. But stakeholders at the weekend, expressed fear over the sustainability of the performance, saying the banking sector may not be able to withstand the current poor state of the economy unless government adopts policies that will address the challenges affecting the real sector……… ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
Reduce regulatory fines, shareholders tell banks – Punch |
| Shareholders have called on financial institutions to work together to get regulators to reduce fines and other charges paid to them. The call came as shareholders expressed concerns over the amount financial institutions w pay to regulators and to the Asset Management Corporation of Nigeria. Findings by The PUNCH revealed that seven Deposit Money Banks paid over N1bn fine to the Central Bank of Nigeria, Securities and Exchange Commission, National Insurance Commission, Pension Commission and others in the 2022 financial year. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Investment group to list on NGX – Punch |
| he Nigerian Capital Development Fund Group Plc has expressed interest in listing on the Nigerian Exchange Limited. This was revealed in a letter titled ‘Re: Expression of Interest to List on the Nigerian Exchange Limited’, signed by the Branch Manager, Ibadan Office of the Primary Market Department of the NGX, Ayodeji Soyombo, which was obtained by our correspondent on Monday. In the letter, the NGX welcomed the interest and listed the next steps that the group would need to take to get on the Main board of the exchange…. .. . … .. ….. …. .. .. .,……. .. …… . ….. . … …………….……..Read More |
Nigeria’s bonds surge after Emefiele’s sack – Dailytrust |
| Investors have welcomed the change because it signals a move away from unorthodoxy under the former bank chief. Emefiele’s policies – including allowing a complex regime of multiple exchange rates – had long been criticised by investors, economists and institutions like the World Bank. Under his tenure, the central bank also loaned the government of former President Muhammadu Buhari 22.7 trillion naira ($49 billion), helping push public debt to a record 77 trillion naira. The notes maturing in 2051 rose more than 3 cents on the dollar to as high as 73.74, the biggest gain this year…… . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
4 ways to avoid making wrong investment decisions – Nairametrics |
| Most individuals in the past, invested in gold, lands, and livestock to secure their future and hope for their value to multiply. However, as time and technology advanced, investment options expanded to include stocks, real estate, bonds, cryptocurrencies, and more. Unfortunately, previous generations missed out on investing due to various reasons such as lack of funds or unfamiliarity with the investment process…… . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |