The Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda has stated that the Securities Issuers Forum (SIF) will create a platform for issuers to brainstorm on how to attract more listings and improve contribution of issuers to the development of the capital market.
Yuguda who stated this in his opening address during the virtual inauguration of Securities Issuers Forum by the SEC, in collaboration with Nigeria Employers Consultative Association (NECA), said the SIF has the potential to act as a bridge between the SEC and issuers. Guardian
Jaiz Bank Plc has said its profit after tax rose by 70.1 per cent growth to N1.9bn in the first half of 2021 from N1.17bn in the same period of 2020. According to a statement issued by the bank on Wednesday, the figures were contained in the bank’s financial results released by the Nigerian Stock Exchange. The statement was titled, ‘Jaiz Bank grows half-year profit by over 70 per cent.’ It read in part, “Financial results of Jaiz Bank Plc for the second quarter which ended on 31st June 2021 was released to the Nigerian Stock Exchange, showing a 70.6 per cent growth in profit after tax, from N1.17bn declared in June 2020 to N1.99bn at the end of June 2021.” Punch
Women empowered businesses and local enterprises involved in agribusiness, manufacturing, health care, and renewable energy will have access to long term funding from First City Monument Bank (FCMB), courtesy of a $50million credit facility from the African Development Bank (AfDB). The $50million credit line will narrow the lending gap to underserved segments and complement FCMB’s lending efforts and operations in the Nigerian market. AfDB will disburse the funds to FCMB before the end of this year. The Sun
The Federal Executive Council (FEC) has approved $11.174 billion for the construction of a standard-gauge coastal railway from Lagos to Calabar. FEC also approved the award of two contracts to the tune of N6.2 billion and N2.31 billion, respectively, for the construction of two power substations in Jigawa and Akwa Ibom states. The council approved the acquisition of 20 per cent minority stake by the Nigerian National Petroleum Corporation (NNPC) in Dangote Petroleum and petrochemical refinery in the sum of $2.76 billion. This was as hope for the restoration of the country’s four refineries in less than eight years from now was raised yesterday. This Day
The Federal Government of Nigeria has appointed transaction advisers to facilitate the issuance of Eurobonds in the international capital market. This was contained in a press statement titled ‘Towards financing the 2021 Appropriation Act – FGN appoints transaction advisers for a Eurobond issuance’, which was made available to our correspondent in Abuja on Wednesday by Debt Management Office’s Head of Media, Chinenye Onu. Punch
Amid widespread misconceptions, Emma Okonji examines the effort been made by the Nigerian Communications Commission to sensitizing telecoms consumers on the benefits of 5G rollout. Riding on the crest of the support of the federal government through the Ministry of Communications and Digital Economy, the NCC says it is determined to collaborate with necessary stakeholders across sectors to ensure that factors impeding faster deployment of broadband infrastructure and the adoption and deployment of new technologies like 5G, are tackled. This Day