FMDQ Securities Exchange Limited (‘FMDQ Exchange) yesterday said it has admitted N19.6billion FSDH Merchant Bank Limited’s Commercial Papers (CP) Issuance Programme on its platform. The Exchange, in a statement said it has approved for quotation of the FSDH Merchant Bank’s N2.28 billion Series 3, N1.79 billion Series 4, and N15.53 billion Series 5 CPs under its N40.00 billion CP Issuance Programme on its platform. The securities exchange stated that it will continue to work collaboratively with market stakeholders to align the nation’s debt capital market (DCM) to international standards/ It added that it has taken commendable steps to ensure that growth and development opportunities abound for the markets under its purview. This Day
The Nigerian Exchange Group (NGX Group) Plc has announced that it will today celebrate 60 years of enabling Africa’s largest economy as a leading integrated market infrastructure group in Africa. The Group officially commenced operations on 25 August 1961, as the Lagos Stock Exchange, after it was founded on 15 September 1960. In commemorating the Diamond jubilee milestone, the Group Chairman, NGX Group Plc, Abimbola Ogunbanjo in a statement, paid glowing tribute to the original subscribers of the articles of association. This Day
From September 1, 2021, the Economic and Financial Crimes Commission will hold banks liable where there are established cases of institutional complicity in fraud in the sector. Speaking when members of the Association of Chief Audit Executives of Banks in Nigeria, (ACAEBIN), led by the Chairman, Yinka Tiamiyu, paid him a courtesy visit in his office, the Chairman of EFCC, Mr. Abdulrasheed Bawa, said bank auditors must take issues of transparency in their operations serious, adding that starting from the aforementioned day, it would no longer be business as usual as the commission would hold banks responsible for such transactions. This Day
As part of its commitment to educate and protect customers from e-banking fraud, Access Bank Plc has launched an awareness campaign aimed at sensitizing customers on measures they can take to protect themselves. The campaign, themed, “Banks Don’t Ask,” focuses on three key activities that account for most fraud incidents in Nigeria, phishing, SIM card fraud, ATM fraud and POS fraud.
In a statement, ED Retail Banking, Victor Etuokwu, stated: “In the past few years, there has been a significant increase in the rate of internet-based and technology-perpetrated fraud”. He added “We want to ensure that our customers are not only protected but are also aware of the tactics employed by fraudsters. This Day
The Ministries of Works and Housing, Defence, Health and Education are to get the highest capital allocation in the 2022 federal budget. This is according to the 2022 Budget Call Circular released on Tuesday night. The circular sets out the requirements and instructions that must be satisfied and followed in the preparation of the 2022 Federal Government Budget Proposal. Details of the capital allocation as contained in the budget call circular signed by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, showed that the Ministry of Works and Housing was to get the highest allocation of N352.65bn. Punch
Twenty-eight years after the last revenue sharing formula was introduced, the Chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Mr Elias Mbam, yesterday, assured the three tiers of government will get a new revenue formula before the end of this year. Speaking in Abuja, to herald the commencement of the review of the subsisting revenue formula, Mbam, said that the last review of the revenue allocation was carried out in 1992. The Sun
Nigeria, leading net importer goods and services raging from food, raw materials, automobile among others from America, Europe and Asian countries is indeed going through some challenging times participating with other countries in global commerce. But presently, stakeholders in the maritime sector especially the Licensed Customs Agents are beginning to show some concerns over a drastic drop in cargo throughput into Nigeria due to increasing foreign exchange, the free fall of naira, and COVID-19 pandemic among others. Some Licensed Customs Agents who spoke to Daily Sun on the ugly trend in global business lamented that most importers can no longer travel out of the country to bring in import as result of the recent policy of the Central Bank of Nigeria (CBN), restricting sale of foreign exchange (forex) to Bureaux De Change (BDC) operators. The Sun