Author Archives: Shalom

FG Issues Last Savings Bond For 2017

By Nse Anthony-Uko ABUJA, (Sundiata Finance) — The federal government savings bonds which debuted in March, 2017 has opened its last leg of subscription for this year which will close December 8, 2017. This subscription comes up once every month and it has traded in the past eight months with a total of N6.694 billion been raised so far. The ...

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Naira Drops To N307/N At Interbank Rate – CBN

(Sundiata Finance) — The Central Bank of Nigeria (CBN) on Monday disclosed that naira for the first time weakened marginally to N307 against the dollar at the official interbank market. Traders attributed the drop to gradual move to merge its multiple exchange rates. Nigeria now has at least five exchange rate including the official one which the bank used to mask ...

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FG’s Higher Interest Borrowings Raise Banks’ Foreign Debt Obligations

By Nse Anthony-Uko (Sundiata Finance) — Commercial Banks interest expenses on foreign borrowing and debt issued soared on the back of increased federal government borrowing through Treasury Bills and Bond to finance the 2017 budget. Analysts attributed the growth in interest expenses on banks borrowing from foreign banks and debt issued to unchanged 14 per cent Monetary Policy Rate of ...

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NSE-ASI Declines By 0.31% Amid Profit Taking

By Nse Anthony-Uko (Sundiata Finance) — The Nigerian equities market, on Monday shed 0.31 per cent, beginning the week in the red and bringing to a halt bullish run of three consecutive trading sessions amid profit taking. In summary, the All Share Index (ASI) shed 115.13 absolute points, representing a decline of 0.31 per cent to close at 37,250.78 points. ...

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Premium Pensions’ Retirement Savings Accounts Hit 700,000

By Nse Anthony-Uko (Sundiata Finance) — Premium Pension Limited said its customer base is now well spread in over one thousand organizations, holding in its portfolio over 700,000 Retirement Savings Accounts (RSAs). The Pension Fund Administrator (PFA), made the revelation when it held Its Pension Desk Officers Forum to touch base and collectively evaluate the workings of the Contributory Pension ...

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Law Union & Rock Insurance Posts N3.5bn Gross Premium In 9 Months

By Nse Anthony-Uko (Sundiata Finance) – Law Union & Rock Insurance Plc, has posted N3.51 billion gross premium within a period of nine months, from January to September 2017. Managing Director of the firm, Mr. Jide Orimolade, who stated this at a media parley in Lagos, said this was an impressive result when compared to N3.19 billion gross premium recorded ...

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Fortis MfB Holds Annual General Meeting December 21

(Sundiata Finance) – Fortis Microfinance Bank Plc has given notice of its forthcoming 4th Annual general Meeting (AGM) of members scheduled to hold on Thursday, the 21st of December, 2017 at the Neni Hall, Grace Point Resort Hotel, Kananga Close, Off Yaounde Street, Wuse Zone 6, Abuja, FCT at 11:00 a.m. According to the Bank, the AGM will enable the ...

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UAC Seeks N15.4bn Fresh Capital from Rights Issue

By Nse Anthony-Uko (Sundiata Finance) — UAC of Nigeria Plc is shopping for N15.37 billion fresh capital from existing shareholders to boost its operations so as the record improved performance and deliver competitive returns to shareholders in the years ahead. Specifically, UACN is making a Rights Issue of 960,432,193 ordinary shares of 50 kobo each at N16 per share to ...

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Fidelity Bank Splash Cash, Gifts On Loyal Customers

(Sundiata Finance) — Fidelity Bank Plc has presented cash and consolation prizes to winners in the November edition of itsongoing “Get Alert in Millions Promo Reloaded.” At the first monthly prize presentation ceremony held in Lagos on Thursday, Felix Ezeokeafor of Gbagada Branch and Franca Chukwuma of AIT Mini Branch were credited with N1 million respectively as winners for Lagos ...

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