Islamic Lender Jaiz Bank to Launch Holdings Company
Nigeria’s largest Islamic lender, Jaiz Bank Plc, has announced a decision to launch Holdings Company, the management said. The proposed structure will afford the bank opportunity to penetrate into other related areas like Pension, Asset Management etc.
Liquidity Shortage Keeps Inter-bank Rate at 15%
The Nigerian financial system is still facing liquidity pressures as the average interbank rate remains at 15% while market participants continue to price interest...
Inter-bank Rate Drops as Liquidity Pressures Ease, Naira Tumbles
Following reduced pressures on the financial system liquidity, the average interbank rate has dropped to a double-digit low, traders note shows while the Nigerian...
NGX Trades Negative, Equities Investors Lose N33bn
The bears returned to the Nigerian equities market on Thursday as profit-taking activities witnessed in MTNN (-0.5%), and STANBIC (-5.6%) caused a 0.1% decline...
Polaris Bank Denies Purported Sale, Pledges to Deliver Value
Polaris Bank Limited has denied the online publication on the purported sale of the lender’s asset, saying it’s speculative and intended to create panic in the market. Recently, media space was agog by a piece of news that the bank has been sold for N40 billion.
UBA Plc. Appoints New GMD as Uzoka Bows Out
United Bank for Africa Plc, has appointed Oliver Alawuba as Group Managing Director (GMD), overseeing all the Group’s banking operations across its twenty African country network and globally as its erstwhile Chief Kennedy Uzoka bows out after six years stint.
Sell Pressure, Assets Repricing Drive Bonds, T-Bills Yields Up
The average yields on fixed income securities see a sharp rise as investors began to renegotiate spot prices on government issuances amidst a running inflation rate and weak exchange rate.
Ecobank Bolsters Earnings, Sees Double Digit Profit Growth
Following a successful implementation of its ‘Execution Momentum Strategy’; Ecobank Transnational Incorporation (Ticker: ETI) has recorded a strong earnings performance in the first half of 2022, its latest financial statement filed on the Nigerian Exchange (NGX) shows.
CBN Asks Banks to Support Companies to Drive FX Inflow
The Central Bank of Nigeria (CBN) has urged Nigerian banks to support indigenous companies in order to increase foreign exchange inflows and boost economic growth.
AfDB to Launch Index Bond to Address Insecurity in Africa
The African Development Bank (AfDB) Group says it has obtained approval from its Board of Governors to develop a Security Index Investment Bond to address insecurity in Africa.