Capital Market Gains in highcap stocks lift capitalisation by N356 billion Following gains recorded by most highly capitalised (highcap) stocks, transactions on the Nigerian Exchange Limited (NGX) reversed negative sentiments to close in an upbeat yesterday as market capitalisation appreciated by N356 billion. At the close of trading, the All-Share Index (ASI) gained 679.72 absolute…
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…
Wednesday April 28, 2021 Great Nigeria Insurance Plc (GNI) said it paid a total of N501.6 million claims in the first quarter of this year. Great Nigeria Insurance spokesperson and corporate communications/brand manager, Oyinkansola Sobande, in a statement on the total claims so far paid by the company this year, stated that claims experienced so…
Tuesday, April 27, 2021 Elumelu Explains $120m Investment in Transcorp Hotels, Assures Shareholders of Better Days The Chairman, Transnational Corporation of Nigeria (Transcorp) Plc, Mr. Tony Elumelu, yesterday explained the company’s decision to commit over $120 million to the rehabilitation of Transcorp Hotels, saying it was meant to lay an investment, “foundation for a better…
Monday, April 26, 2021 Transcorp Makes New Board Appointments, Unveils New Subsidiary CEOs The Board of Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s largest listed conglomerate and a leading investor in the energy sector, has announced the appointment of Mr. Victor Famuyibo and Mallam Ahmadu Sambo to its board of directors. The appointment became effective…
Friday, April 23, 2021 Custodian Investment Gets Shareholders Nod to Raise $15m Fresh Capital Shareholders of Custodian Investment Plc yesterday gave their approval to the board of directors of the company to raise the naira equivalent of up to $15 million as additional capital through a convertible loan instrument. Read more Accolades as MMA2 Security…
Thursday, April 22, 2021 CBN, ICT as Economic Stimulant The information and communications technology (ICT) sector has in recent times been a major player in solving societal issues and the Covid-19 pandemic made its essence felt even more. Across the globe, technological advancement is being used to proffer solutions and Nigeria is not left behind…
Tuesday, April 20, 2021 CRC Credit Bureau Organises Forum on Open Banking CRC Credit Bureau Limited recently hosted a webinar to educate individuals and businesses on open banking. The Managing Director/CEO of CRC Credit Bureau Limited, Dr. ’Tunde Popoola, in a statement said the webinar with the theme: ‘Open Banking: Implications for Payments System and…
Friday, April 16, 2021 FG Lifts Ban on New SIM Cards’ Issuance The federal government yesterday reversed its policy banning the sale of new Subscriber Identification Module (SIM) cards. The Minister of Communications and Digital Economy, Dr. Isa Pantami, in agreement with industry stakeholders, also yesterday revised the National Digital Identity Policy for SIM card…
Thursday, April 15, 2021 FG Counters Obaseki, Denies Printing N60bn to Augment FAAC The federal government yesterday faulted a claim by Governor of Edo State, Mr. Godwin Obaseki, that it printed N60 billion to augment funds from the Federation Account Allocation Committee (FAAC) distributed to states and the Federal Capital Territory (FCT) in March. Read…