Author Archives: Shalom

Equities Market Loses N170bn

By Nse Anthony-Uko (Sundiata Finance) — The Nigerian Stock Excgange (NSE)equities market, Monday lost N170 billion, beginning the week in the red. In summary, the All Share Index (ASI) shed 478.12 absolute points, representing a decline of 1.24 per cent to close at 37,957.96 points. However, the market capitalisation shed N170 billion to close at N13.508 trillion. The downturn was ...

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Banks Earn 64% of NSE 30 Profits In Q3

(Sundiata Finance) — Banks accounted for 64.2 per cent of NSE 30 Index’s profits earned in the first nine months of 2017 as the sector provides over 50 per cent liquidity on the exchange. Zenith Bank, Ecobank Transnational, Guaranty Trust Bank (GTBank), First Bank Nigeria Holdings, Stanbic IBTC Holdings, United Bank for Africa (UBA), Union Bank of Nigeria (UBN) and ...

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Bank Cheques To Clear Within Hours Soon

By Nse Anthony-Uko (Sundiata Finance) — Bank customers would soon be able to clear their cheques within hours thus paving the way for faster financial transactions within the country. Currently, bank cheques clear in 24 hours. The Nigeria Inter-Bank Settlement System (NIBSS) and Precise Financial Systems (PFS) is collaborating to unveil a new National Automated Clearing System (NACS) which allows ...

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Union Bank Lists Additional 51.3m Shares On NSE

By Nse Anthony-Uko The Nigerian Stock Exchange (NSE) has admitted an additional volume of 51.3 million ordinary shares of 50 kobo each of Union Bank of Nigeria Plc on the daily official list of the Exchange. The additional shares were listed on NSE on December 4, 2017 and the shares arose from the bank’s Long Term Transformation Incentive Plan (LTTIP). ...

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Access Bank Boosts Customers’ Experience, Upgrades Mobile, Internet Banking Platforms

By Nse Anthony-Uko (Sundiata Finance) – Access Bank Plc has upgraded its Mobile and Internet banking platforms to provide an Omnichannel experience alongside a range of new and exciting features. The Omnichannel experience simply means customers of the 2017 Karlsruhe Outstanding Business Sustainability Award winner would enjoy a seamless and consistent interaction with the Bank across multiple channels. Speaking on ...

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WorldRemit Raises $40m To Target 5m Customers In Africa

By Nse Anthony-Uko (Sundiata Finance) – Leading digital money transfer service WorldRemit has raised $40 million to drive its next phase of global growth, aiming to serve 10 million customers connected to emerging markets. Half of these customers will be in Africa. As part of the expansion, WorldRemit will enable customers in Africa to transfer money to 148 countries as ...

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Foreign Direct Remittances To CBN Hit $5.8bn In 9 Months

By Nse Anthony-Uko (Sundiata Finance) – Total direct remittances under the watch of Central Bank of Nigeria (CBN) in nine months of 2017 rises to estimated N1.8 trillion or $5.8 billion, current data has shown. At $1/N305, the data from CBN’s website revealed N169.5 billion or $555 million was remitted in January this year but dropped to N63.89 billion or ...

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Accion MFB Disburses N79.8bn Loan To SMEs

Plans Expansion to North, FCT By Nse Anthony-Uko (Sundiata Finance) – Accion Microfinance Bank said it has disbursed a total of N79.8 billion to its customers between 2007 when it commenced business operations in Nigeria up till November 2017 as part of its efforts at promoting and supporting small and medium scale enterprises in the country. The MFB which says ...

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Stock Market Heads For Impressive Performance To Close 2017

By Nse Anthony-Uko (Sundiata Finance) – Equities trading on the Nigerian Stock Exchange (NSE) for the month of December began on the positive note, as capital market operators see stocks market record overall impressive performance for the year and a positive December ending. Research has shown that for 13 years, from 1998 to 2016, the month of December on the ...

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The Banker Awards GTBank Nigeria’s Best Bank

By Nse Anthony-Uko (Sundiata Finance) — Guaranty Trust Bank Plc said it has been recognised as the 2017 ‘Bank of the Year Nigeria’ at the Banker Awards. The Banker Award event took place in London, United Kingdom, recently. The Banker, a publication of the Financial Times, is the world’s leading monthly journal of records for the banking Industry, with over ...

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