Author Archives: Shalom

FCMB Empowers 644 Customers At Millionaire Promo Season 4

By Nse Anthony-Uko (Sundiata Finance) – First City Monument Bank (FCMB) said it has empowered another set of 644 customers with cash and various exciting gifts at the third draws of the Bank’s ongoing reward scheme tagged, ‘FCMB Millionaire Promo Season 4’. The electronic selection of the winners took place at the regional and zonal levels of the Bank across ...

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44 Millionaires Emerge In Sterling Bank Promo

By Nse Anthony-Uko (Sundiata Finance) — Forty-four customers of Sterling Bank Plc have won N1 million each in its on-going savings reward promo tagged: “What have you got to win?” which was introduced in March this year to reward loyal customers and encourage a savings culture among Nigerians. The bank said 15 new winners had emerged from the second draw ...

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Equities Market Turns Positive, Gains 1.04% At Midweek Trading

By Nse Anthony-Uko (Sundiata Finance) — The Nigerian equities market, on Wednesday gained 1.04 per cent reversing three day bearish run. In summary, the All Share Index (ASI) gained 361.07 absolute points, representing a growth of 1.04 per cent to close at 35,207.89 points. Similarly, the market capitalisation gained N124 billion, to close at N12.137 trillion. The upturn was impacted ...

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Nigeria Has Higher Investment Risk, Beats Sub-Saharan Africa Peers On Returns

Drops Out Of RMB ’S Top 10 Investment Destinations for First Time (Sundiata Finance) – Among Africa’s top three economies, it is Nigeria that offers both the highest risk and highest reward to foreign investors, according to a Risk-Reward index developed by global risk consultancy firm, Control Risks Group Limited. The “Africa Risk-Reward” index computed by UK-based Control Risks, in ...

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Linkage Assurance Offers Comprehensive Insurance Plan To SMEs

By Nse Anthony-Uko (Sundiata Post) — Linkage Assurance Plc has promised to insure the Small and Medium Enterprises(SMEs) in the country through its ‘SMEComprehensive Insurance Plan’. The cover, according to the firm, was meant to provide financial protection to small and medium- sized businesses against an array of insurable risks for their business continuity. A statement from the insurance company ...

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Portfolio Investors’ Equities Participation Drop By 11.86% – NSE

By Nse Anthony-Uko (Sundiata Finance) – Activities on domestic and foreign portfolio in the equities market of the Nigerian Stock Exchange (NSE) dropped by 11.86 per cent in July 2017. The bourse in its monthly report Domestic and Foreign Portfolio Investment (FPI) participation in equities market said total transactions by both investors closed July at N194.15 billion as against N220.27 ...

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FMDQ Approves Wema Bank N50bn Commercial Paper

By Nse Anthony-Uko (Sundiata Finance) — FMDQ OTC Securities Exchange (FMDQ) said it has approved the registration of Wema Bank Plc N50 billion commercial paper (CP) programme to its platform. The Exchange in a release to media, said this CP Programme registration strategically positions Wema Bank to easily and quickly raise short-term finance from the debt market at a time ...

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CBN Goes Tough On Banks Flouting Forex Rules

Sustains Intervention With $545m By Nse Anthony-Uko ABUJA, (Sundiata Post) – The Central Bank of Nigeria (CBN) on Monday, threatened to sanction any Deposit Money Bank (DMB) breaching its earlier directive of March 3, 2017 instructing them to, among other things, open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates ...

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Banks’ Loan Growth Slows On High Risk Environment

(Sundiata Finance) – Banks’ loan growth has slowed in the second quarter as macroeconomic uncertainties weaken lending to key sectors of the economy. The cumulative total loans and advances to customers of the 12 lenders that have released Half Year 2017 results dipped by 1.0 per cent to N13.37 trillion in June 2017. This compares to the half year period ...

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Equities Market Sheds N46bn On Weak Sentiments

By Nse Anthony-Uko (Sundiata Finance) – The Nigerian equities market opened the new week on Monday with a decline of N46 billion on weak investor sentiments. In summary, the All Share Index (ASI) shed 132.50 absolute points, representing a decline of 0.38 per cent to close at 34,873.07 points. Similarly, the market capitalisation shed N46 billion, to close at N12.022 trillion. The ...

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