Author Archives: Shalom

FBN Holdings Unveil Growth Strategy, Targets Single-digit NPL

LAGOS(Sundiata Finance) – FBN Holdings Plc has unveiled key growth strategies aimed at boosting the company’s revenue and shareholders’ value from 2017 financial year, going forward. The group managing director of FBN Holdings, Urum Kalu Eke, disclosed this at the company’s “Facts behind the Figures’’ at the Nigerian Stock Exchange (NSE) in Lagos, on Thursday. Eke said that the company ...

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Helios, KPMG, Others Win At 2017 Private Equity Africa Awards

By Nse Anthony-Uko, (Sundiata Finance) – Private Equity Africa (PEA) (www.PrivateEquityAfrica.com), organisers of the 2017 edition of the PEA Awards have announced winners of the annual event. In its sixth edition, over 120 self-entries, complemented by recommendations from the PEA editorial team and supported by industry data were received. The awards saw 22 firms collect much coveted accolades at the ...

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Recession: Insurers Now Spread Premium Payments To Sustain Uptake

By Nse Anthony-Uko (Sundiata Finance) — In the bid to weather the current harsh economic conditions, and retain their customers’ patronage, insurance companies have adopted a strategy of allowing them spread the payment of premiums. The palliative is to allow consumers whose disposable incomes have been hit badly by rising cost of leaving and low economic activity, to remain within risk ...

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Leadway Assurance Pays N23bn Claims, Picks New Directors

By Nse Anthony-Uko ABUJA, (Sundiata Finance) — Leadway Assurance said its assets grew from N137.3billion 2015 to N166 billion in 2016 while Gross Premium Income also rose by 13 per cent from N46.6 billion in 2015 to N52.7 billion in 2016, an increase largely attributable to annuity business. The company at its 45th annual general meeting in Lagos also reaffirmed ...

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UACN Pays N1.2bn Dividend, Plans N15.4bn Fresh Capital

By Nse Anthony-Uko ABUJA, (Sundiata Finance) – UAC of Nigeria Plc said it would be raising the sum of N15.4 billion through its existing shareholders to bolster its capital position. Also, the company rewarded shareholders with N1.92 billion dividend payout for the financial year ended December 31, 2016. At the company’s annual general meeting held on Wednesday in Lagos, Chairman ...

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FMDQ OTC Market Records N9.49trn Turnover In May

By Nse Anthony-Uko ABUJA, (Sundiata Finance) — FMDQ OTC Securities Exchange recorded a total transaction value of N9.49 trillion month of May, 2017. In the OTC Monthly for May released by the exchange showed that the total transaction grew by  7.32 per cent to N9.49 trillion from N8.79 trillion in April. The release stated that treasury bills’ transactions accounting for 40.73 ...

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Union Bank Launches ‘UnionAccelerate’ Savings Account For Medium-sized Businesses

LAGOS, (Sundiata Finance) – Union Bank has announced the launch of UnionAccelerate, a high-interest savings account with zero bank charges for medium-sized businesses. UnionAccelerate is a full-featured innovative banking solution that helps manage the challenges of high overhead costs and restrictive bank deductions experienced by businesses across the country. Speaking about the product, Kunle Sonola, Union Bank’s Executive Director, Commercial Banking, explained ...

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CBN Injects $831.5m Into Forex Market In 2 Days

By Nse Anthony-Uko, ABUJA – (Sundiata Finance) – The Central Bank of Nigeria (CBN) on Tuesday injected a fresh $418 million into various segments of the inter-bank Foreign Exchange market to boost supply of dollars to meet demand from all segments of the market. This brings to $831.5 million the total amount released by the apex bank in two days. This ...

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UBA’s $500m Debut Eurobond Get 240% Oversubscribed

By Nse Anthony-Uko ABUJA, (Sundiata Finance) – The United Bank for Africa Plc (UBA) has successfully raised USD500 million, though a debut Eurobond, which was 240 per cent over-subscribed. The significant investor demand reflects the strong global investor appetite for UBA’s credit and support for the Group’s pan-African financial services strategy. The Global Offering is a five-year senior unsecured benchmark ...

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WorldRemit Launches Mobile-to-mobile Transfers, Partners Android Pay

LONDON, (Sundiata Finance) — WorldRemit (www.WorldRemit.com), the leading digital money transfer service has added Android Pay to its service, offering a new way for WorldRemit’s Android Pay users to send money internationally and reach millions using mobile money accounts. Pioneering a mobile-first approach to the $600 billion a year remittance industry, the move sees WorldRemit bringing together the leading players ...

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