Shareholders of Guaranty Trust Holding Company Plc, have endorsed payment of a total dividend of N91.24Bn, representing N3.10 per share for the financial year ended December 31, 2022. A statement said the endorsement was made at the holding company’s second annual general meeting on Thursday, virtually. The Group proposed a …
Read More »CBN Governor, Emefiele Apologises For E-Payment Glitches In Nigeria
The Central Bank of Nigeria (CBN) governor, Godwin Emefiele has apologised to Nigerians for the glitches experienced while trying to effect various e-payment transactions. Emefiele made the apology at the post Monetary Policy Committee (MPC) briefing in Abuja on Tuesday. The CBN governor admitted that some “isolated cases still persist” …
Read More »CBN Raises MPR Interest Rate To 15.5% On Tuesday
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR), which measures interest rate, to 15.5 percent from 14 percent. This is meant to tame rising inflation. CBN Governor, Godwin Emefiele, made this known after an MPC meeting in Abuja on Tuesday. Emefiele said, “The committee voted …
Read More »Five Major Chinese Firms To Delist From New York Stock Exchange
Five major Chinese companies including two of the country’s largest oil producers will delist from the New York Stock Exchange, the firms said in filings on Friday. Sinopec and PetroChina — two of the world’s biggest energy firms — will apply for “voluntary delisting” of their American depositary shares, the …
Read More »[PRESS RELEASE]: ARREST OF A BOAT(LOCALLY CALLED COTONOE BOAT) CONVEYING ILLEGALLY REFINED PETROLEUM PRODUCT SUSPECTED TO BE AGO
NIGERIA SECURITY AND CIVIL DEFENCE CORPS DELTA STATE COMMAND Men of the newly inaugurated Commandant General Special Anti Vandal Monitoring Unit led by a Deputy Commandant Of Corps DCC Brah have arrested a boat containing about 100,000 thousand litres of petroleum product suspected to be Automated Gasoline Oil (AGO. It …
Read More »Capital Market: Stock Investors Lose N767bn In One Week
Investors lost N767bn at the end of trading on the floor of the Nigerian Exchange Limited last week. The market opened for four trading days last week as the Federal Government declared Monday as a public holiday to commemorate the 2022 Democracy Day celebration. The NGX All-Share Index and market …
Read More »Investors woo ₦13.76tr pension assets in stocks
Despite last week’s launch of Nigerian Exchange Limited (NGX) Exchange Traded Derivatives (ETDs) Market, with the listing of two Equity Index Futures Contracts, NGX 30 Index Futures and NGX Pension Index Futures, poor participation of the Pension Funds Administrators (PFAs) in Nigeria’s stock market is a major factor responsible for …
Read More »Stock market tightens noose on directors’ share trading
The stock market is considering a major amendment to its rules to checkmate boardroom intrigues and block information arbitrage that tend to confer advantages on companies’ directors. The new rules also expand the scope and authority of corporate financial reporting while eliminating gaps that allow companies to sidetrack relevant rules …
Read More »Facebook Parent Meta Sheds $200bn In Stock Plummet
Facebook’s parent firm Meta on Thursday plunged over $200 billion in stock value — comparable to the size of New Zealand’s economy — after results that raised doubts about the troubled social media giant’s future. In addition to costs of big investments on its metaverse vision for the internet and …
Read More »Acquisition: Trust Bank To Take Over Union Bank
One of Nigeria’s newest commercial banks, Titan Trust Bank Limited is set to take over Union Bank of Nigeria Plc, the latter has announced. The Company Secretary of Union Bank, Somuyiwa Sonubi, disclosed this in a statement on Thursday. According to him, the Board of Directors of Union Bank has …
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