Tuesday, January 19, 2021
Sovereign Trust Insurance Maintains ‘A-’ Rating
Sovereign Trust Insurance Plc has been rated ‘A-‘ by the Global Credit Rating (GCR) According to GCR, Sovereign Trust Insurance, has great potential for growth in the years ahead considering some of the strategies that had been put in place to propel its operations. Read more
FMDQ Admits Total, Valency Agro, Mixta Real Estate CPs
FMDQ Securities Exchange Limited has approved the quotation of the Total Nigeria Plc N2.25 billion Series 1 and N12.75 billion Series 2 Commercial Papers (CP) under its N30.00 billion CP Issuance Programme. Read more
Nigeria’s nine-month oil export earnings fall by $1.24bn
The total revenue generated by Nigeria from crude oil and gas exports from January to September 2020 tumbled by $1.24bn, compared to the same period in 2019. An analysis of data obtained from the Nigerian National Petroleum Corporation on Monday showed that the country earned $2.32bn from oil and gas exports in the period under review, down from $3.56bn in the same period of 2019. Read more
Naira struggles for stability as external reserves gain
The naira dipped slightly after it exchanged for N474/$ at the parallel market on Monday. It had earlier exchanged for 473/$ for most of last week. At the Investors & Exporters forex window, it closed at N388/$ after it had reached a high of N415/$. Read more
CMB’s gross earnings rise by 62% in two years
The acting Chairman, Cooperative Mortgage Bank, Walter Ogujiofor, has said that despite the harsh economic condition in the country, CMB’s gross earnings rose by 62.5 per cent between 2017 and 2019. A statement on Monday titled ‘CMB records 62 per cent gross earnings growth’, said he disclosed this during the bank’s annual general meeting that held virtually from the corporate headquarters of the bank in Ibadan. Read more
Shareholders caution FG against borrowing unclaimed dividend
Divergent views have continued to trail the Federal Government’s moves to borrow N895 billion from unclaimed dividends and dormant account balances, as shareholders insisted that the decision is a disincentive to investment. Read more
Elumelu assures of shared prosperity, economic devt, acquires 45% in OML 17
The investment of over $1billion by Heirs Holding’s in the acquisition of the strategic OML 17 from Shell, ENI and Total, is expected to deepen commitment between host communities and the firm as well as engender economic development. Read more
Salami speaks on 2021 economic outlook
The Chartered Institute of Bankers of Nigeria Centre for Financial Studies (CIBNCFS), in collaboration with B. Adedipe Associates Limited, will hold a roundtable on “National Economic Outlook: Implications for Businesses in Nigeria in 2021”. Read more
