Local bourse on Zig-zag posture as investors lose N120bn

Local bourse

Local bourse on Zig-zag posture as investors lose N120bn   The Nigerian stock market, which began the month on a positive note, resumed decline on Tuesday following sell-offs and profit-taking charges in 26 stock, resulting in share price losses at the end of trading. The Nigerian Stock Exchange All-Share Index (NSEASI) had opened the month of March positive with 0.33 per cent uptick on Monday, a deviation from a total loss of N1.37 trillion recorded in February. But the benchmark index, ASI, fell by 0.59 per cent on Tuesday to…

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Adopt pragmatic approach to cryptocurrency, Luno tells CBN

Luno CBN Cryptocurrency

Adopt pragmatic approach to cryptocurrency, Luno tells CBN     Luno, a globally recognised crypto platform, has called on the Central Bank of Nigeria (CBN) to adopt pragmatic approach to cryptocurrency (regulation). With over three million customers in Nigeria alone, Luno is one of the leading players in the country’s crypto space. In a statement issued today, the Company detailed its strategy to navigate the impact of the CBN’s circular as well as deeper context on the ban’s effect on Nigeria’s crypto sector. In its earlier statement following the ban…

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NSE automates securities listing with X-Filling, an e-filing Portal

X-Filling is an e-filing Portal

NSE automates securities listing with X-Filling, an e-filing Portal     The Nigerian Stock Exchange (NSE) has today launched its e-Filing Portal, X-Filing. X-Filing, which comes on the back of the recent upgrade to the NSE Issuers’ Portal, X-Issuer, is a fully integrated, secure web interface designed to enable the submission and processing of securities listing applications online. The Portal provides Dealing Member Firms (DMFs) and other accredited sponsors with a simple, efficient and convenient way to submit securities listing applications on behalf of issuers as well as enable the…

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World Federation of Exchanges honours NSE’s director

World Federation of Exchanges

World Federation of Exchanges honours NSE’s director     The World Federation of Exchanges (WFE), the global industry group for exchanges and Central Counterparty Clearing Houses (CCPs), has recognized Ms. Tinuade Awe, the executive director of regulation for the Nigerian Stock Exchange (NSE), in its inaugural annual Women Leaders List. Her story was published in the March 2021 edition of The WFE’s Focus Magazine accessible via: https://focus.world-exchanges.org/articles/women-leaders-awe.​ The WFE’s Women Leaders initiative aims to shine the spotlight on some of the talented and gifted women in our industry. The industry initiative drew…

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Shareholders of Custodian Investment to share N2.65bn as dividend

Custodian Investment

Shareholders of Custodian Investment to share N2.65bn as dividend     The Board of Directors of Custodian Investment Plc has announced the payment of a final dividend of 45 kobo for every share of 50 kobo held by shareholders, a filling by the company at the Nigerian Stock Exchange (NSE) stated on Monday. With its share outstanding at 5,881,864,195, the investment holding company with interest in life insurance, general insurance, pensions, trustees, property and financial service will be paying a sum of N2.65 billion as total dividend for the year…

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Union gives Huawei 14-day ultimatum over workers rights tussle

Huawei bows to US pressure, to stop making flagship chipsets

Union gives Huawei 14-day ultimatum over workers rights tussle   The Private Telecommunications and Communications Senior Staff Association of Nigeria (PTECSSAN) an affiliate of the Nigeria Labour Congress, (NLC) has issued a 14-day ultimatum to Huawei Technologies Nigeria Limited over what it described as disregard and denial of the workers fundamental right to freedom of association as enshrined in section 40 of the 1999 constitution. The General Secretary, PTECSSAN, Comrade Okonu Abdullahi, disclosed this in a statement that all efforts in the past to address all the labour related issues…

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AXA Mansard emerges Best Health Insurance Product Winner 2021

AXA Mansard Health Insurance

AXA Mansard emerges Best Health Insurance Product Winner 2021     Health Management Organization, AXA Mansard Health Limited, recently announced that it has emerged as the winner of the best health insurance product of the year in the Insurance Product & Process section of the just concluded 11th Annual Global Banking and Finance Awards 2021. The winning product was the AXA Platinum Plus Cover which has been specially designed to provide a world class health cover for the insurer’s customers. With access to roam over 1,700 hospitals locally, care in India, UAE and South African…

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Ecobank Nigeria’s $300m bond berths on London Stock Exchange

Ecobank $300m bond on London Stock Exchange

Ecobank Nigeria’s $300m bond berths on London Stock Exchange     Ecobank Nigeria on Thursday opened the market at London Stock Exchange (LSE) via a virtual ceremony to mark the listing of its five-year fixed rate senior unsecured $300 million bond. Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated, the parent company of the Ecobank Group, provides the full suite of banking products, services and solutions through multiple channels to retail, commercial, corporate and public sector customers. The bond carries a coupon rate of 7.125 per cent, significantly below its…

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14 Deap Capital directors’ assets seized by AMCON over N1.6bn debt

AMCON

14 Deap Capital directors’ assets seized by AMCON over N1.6bn debt Following the ruling of Justice Chukwujekwu Aneke of the Federal High Court, Lagos, on January 18, 2021, the Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to 14 directors of Deap Capital Management and Trust Plc. over an indebtedness of N1.6 billion. In a statement, the corporation said it took effective possession of the seven properties as listed by the court through its debt recovery agent, Etonye & Etonye, on February 23. According to the statement,…

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United Capital grows PAT 57% to N7.8bn in 2020

United Capital grows PAT 57% to N7.8bn in 2020

  Proposes 70k dividend United Capital Plc (United Capital), Nigeria’s leading investment bank and a foremost Pan-African financial and investment services group, has reported impressive numbers in its audited financial statement for the year ended 2020. The financial report released on the Nigerian Stock Exchange (NSE) where its listed indicates a 57 per cent rise in its profit after tax (PAT) for the period to N7.8 billion compared to N4.97 billion in 2019. The investment banking firm also saw its net operating income up by 58 per cent year-on-year from…

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