First Bank appoints five new directors, Shobo now MD
First Bank of Nigeria Limited has announced the appointment of Mr Gbenga Shobo as the Managing Director and Chief Executive Officer designate of the bank. According to a statement issued on Wednesday by the chairman of the bank, Mrs Ibukun Awosika, prior to his appointment, Shobo was the deputy managing director of the bank. Punch
United Capital reports N3.12bn quarterly revenue
United Capital Plc, an investment bank and a pan-African financial and investment services group, has said it recorded N3.12bn revenue in the first quarter of 2021. It said this on Wednesday in a statement on its unaudited financial statements for the period ended March 31, 2021, titled ‘United Capital reports a 67 per cent growth in PAT’. The statement said it recorded a profit before tax of N1.97bn while delivering earnings per share of 111 kobo. Punch
NEPZA moves to integrate SMEs into economic zones
The Managing Director of Nigerian Export Processing Zones, Prof. Adesoji Adesugba, has canvassed for the adoption of the export business accelerator programme by the Federal Government. The programme will enable the rapid integration of Nigeria’s Small and Medium Enterprises into the Special Economic Zones scheme thereby fostering economic growth. Punch
Nigerian Exchange Boosts Trainee Clerks’ Capacity across Asset Classes
Nigerian Exchange (NGX) Limited has started its first Automated Trading System (ATS) Certificate Training for stockbrokers in 2021 with a focus on capacity building beyond equities. About 78 participants that registered will undergo training which began yesterday and would run till May 28, 2021.According to NGX, in line with its commitment to enhance the knowledge of capital market players across multiple asset classes, the ATS certification training would cover fixed income, derivatives, exchange traded funds (ETFs), and equities trading. This Day
DLM Capital Floats Fixed Income Fund
The DLM Capital Group, has unveiled its Fixed Income Fund which aims to provide capital preservation and income generation. The fund, called the DLM Fixed Income Fund is classified as an open-ended unit trust scheme and will invest at least 70 per cent of its assets in high quality fixed income securities with a term to maturity not less than 365 days, while a maximum of 30 per cent will be invested in quality money market instruments. This Day
CBN Urged to Constitute Special Tribunal on Resolution of Islamic Banking Issues
A former member of the Central Bank of Nigeria’s (CBN) Financial Regulation Advisory Council of Experts and now a professor of Islamic law with University of Ilorin, Kwara State, AbdulRazzaq Alaro has advised the CBN to constitute a special tribunal for resolution of Islamic banking related disputes. Alaro gave the advice in Ilorin, while delivering his 196th inaugural lecture. He stated that the initiative would also assist the CBN to make necessary amendments into the nation’s law in relation to the Islamic financial banking in the country. This Day
N120b Intervention will address Nigeria’s electricity challenges, say experts
Stakeholders in the electricity sector, yesterday, said the Federal Government’s intervention in the power sector, especially efforts being made to address challenges limiting the capacity of distribution companies (DisCos) is necessary to improve electricity supply. The experts also insisted that funding by the Centre Bank of Nigeria (CBN) hovering around N120 billion could drastically reduce the lingering challenges of arbitrary billing of end-users and ensure evacuation of stranded generation capacity. Guardian
Bears sustain dominance as capitalisation falls by N274b
The bears maintained dominance on the equities market yesterday, as more blue-chip stocks depreciated, resulting in a further decline in market capitalization by N274 billion. At the close of trading, the All-Share Index (ASI) dropped by 524.00 absolute points, representing a decline of 1.33 per cent to close at 38,781.48 points while the overall market capitalization value lost N274 billion to close at N20.296 trillion. Guardian
First Bank of Nigeria Limited has announced the appointment of Mr Gbenga Shobo as the Managing Director and Chief Executive Officer designate of the bank. According to a statement issued on Wednesday by the chairman of the bank, Mrs Ibukun Awosika, prior to his appointment, Shobo was the deputy managing director of the bank. Punch
United Capital reports N3.12bn quarterly revenue
United Capital Plc, an investment bank and a pan-African financial and investment services group, has said it recorded N3.12bn revenue in the first quarter of 2021. It said this on Wednesday in a statement on its unaudited financial statements for the period ended March 31, 2021, titled ‘United Capital reports a 67 per cent growth in PAT’. The statement said it recorded a profit before tax of N1.97bn while delivering earnings per share of 111 kobo. Punch
NEPZA moves to integrate SMEs into economic zones
The Managing Director of Nigerian Export Processing Zones, Prof. Adesoji Adesugba, has canvassed for the adoption of the export business accelerator programme by the Federal Government. The programme will enable the rapid integration of Nigeria’s Small and Medium Enterprises into the Special Economic Zones scheme thereby fostering economic growth. Punch
Nigerian Exchange Boosts Trainee Clerks’ Capacity across Asset Classes
Nigerian Exchange (NGX) Limited has started its first Automated Trading System (ATS) Certificate Training for stockbrokers in 2021 with a focus on capacity building beyond equities. About 78 participants that registered will undergo training which began yesterday and would run till May 28, 2021.According to NGX, in line with its commitment to enhance the knowledge of capital market players across multiple asset classes, the ATS certification training would cover fixed income, derivatives, exchange traded funds (ETFs), and equities trading. This Day
DLM Capital Floats Fixed Income Fund
The DLM Capital Group, has unveiled its Fixed Income Fund which aims to provide capital preservation and income generation. The fund, called the DLM Fixed Income Fund is classified as an open-ended unit trust scheme and will invest at least 70 per cent of its assets in high quality fixed income securities with a term to maturity not less than 365 days, while a maximum of 30 per cent will be invested in quality money market instruments. This Day
CBN Urged to Constitute Special Tribunal on Resolution of Islamic Banking Issues
A former member of the Central Bank of Nigeria’s (CBN) Financial Regulation Advisory Council of Experts and now a professor of Islamic law with University of Ilorin, Kwara State, AbdulRazzaq Alaro has advised the CBN to constitute a special tribunal for resolution of Islamic banking related disputes. Alaro gave the advice in Ilorin, while delivering his 196th inaugural lecture. He stated that the initiative would also assist the CBN to make necessary amendments into the nation’s law in relation to the Islamic financial banking in the country. This Day
N120b Intervention will address Nigeria’s electricity challenges, say experts
Stakeholders in the electricity sector, yesterday, said the Federal Government’s intervention in the power sector, especially efforts being made to address challenges limiting the capacity of distribution companies (DisCos) is necessary to improve electricity supply. The experts also insisted that funding by the Centre Bank of Nigeria (CBN) hovering around N120 billion could drastically reduce the lingering challenges of arbitrary billing of end-users and ensure evacuation of stranded generation capacity. Guardian
Bears sustain dominance as capitalisation falls by N274b
The bearsmaintained dominance on the equities market yesterday, as more blue-chip stocks depreciated, resulting in a further decline in market capitalisation by N274 billion. At the close of trading, the All-Share Index (ASI) dropped by 524.00 absolute points, representing a decline of 1.33 per cent to close at 38,781.48 points while the overall market capitalisation value lost N274 billion to close at N20.296 trillion. Guardian
