Author Archives: Shalom

Diamond Bank Appoints A New Non-Executive Director

By Nse Anthony-Uko (Sundiata Finance) – Diamond Bank Plc, Nigeria’s fastest growing retail bank, has appointed Mr Christopher Ubosi as a Non-Executive Director. Mr Christopher Ubosi holds a B.Sc. in Quantity Surveying from the University of Ife and an M.Sc. from the University of Lagos, Nigeria. Mr Ubosi has over 20 years’ experience in the Built Environment, Telecommunications and Broadcasting ...

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Stocks Market Sheds 0.96%, Largest Decline in 7 Weeks,

By Nse Anthony-Uko (Sundiata Finance) – The Nigerian stocks market recorded its largest decline in seven weeks on Tuesday, following profit taking activities by investors . In summary, the All Share Index (ASI) shed 358.87 absolute points, representing an decline of 0.96 per cent to close at 36,953.41 points. The market capitalisation shed N124 billion, to close at N12.879 trillion. ...

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Banks Begin Restriction Of Fraudsters Accounts

By Nse Anthony-Uko ABUJA, (Sundiata Finance) – Commercial banks in the country have begun sensitizing their customers as the new policy which will bar fraudsters from accessing banking services in the country for up to 10 years. The Central Bank of Nigeria (CBN) had last month issued a circular to that effect which was to take immediate effect. To this ...

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No More Paper Dividend Warrants After December 31, SEC Warns

By Nse Anthony-Uko (Sundiata Finance) — The Securities and Exchange Commission (SEC) has said that the 31 December deadline to issuance of physical dividend warrants in the nation’s capital market remains unchanged. Speaking at the Capital Market Committee (CMC) press briefing on Monday in Lagos, the director-general of SEC, Mounir Gwarzo said that there is no going back on the ...

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Equities Market Gains N67bn On Dangote Cement Stocks

By Nse Anthony-Uko (Sundiata Finance) —  The Nigerian stocks market opened the week on a positive trend on Monday, following the gains recorded in Dangote Cement Plc. The All Share Index (ASI) gained 192 absolute points, representing a growth of 0.52 per cent to close at 37,312.28 points. The market capitalisation appreciated by N67 billion, representing to close at N12.914 trillion. ...

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Diamond Bank Divests From West African Operations To Focus on Nigeria

By Nse Anthony-Uko (Sundiata Finance) — Diamond Bank Plc – Nigeria’s fastest growing retail bank – is divesting from its West African banking operations in order to focus on Nigeria’s significant retail banking opportunity. The bank said on Friday that it has agreed to sell its operations in Benin, Togo, Cote d’Ivoire and Senegal to Manzi Finances S.A., a Cote ...

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Visa Foundation Unveils $20m Women SME Support Initiative

By Nse Anthony-Uko (Sundiata Finance) – The Visa Foundation has set aside $20 million finance initiative to support Women’s World Banking. The newly-incorporated Visa Foundation, has been established as part of Visa’s larger social impact strategy that will prioritise the growth of micro and small enterprises around the world, enabling individuals, businesses, and economies to thrive. At the heart of ...

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LASACO Assurance Resumes Annuities Sales

By Nse Anthony-Uko (Sundiata Finance) – LASACO Assurance PLC has resumed the underwriting of Annuity policies that would make beneficiaries earn salaries for a certain period after leaving office. The insurer re-commenced Annuity businesses in collaboration with its appointed experts, First Pension Custodian (FPC), having obtained the nod of the National Insurance Commission (NAICOM) to, again, take on the underwriting ...

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Nestle Nigeria Posts Impressive Q3 Profits, Offers N15 Interim Dividend

By Nse Anthony-Uko (Sundiata Finance) – Nestle Nigeria has presented its unaudited result for the nine-month ended September 30, 2017, showing remarkably impressive performance, helped by the growth in sales revenue. The Company’s result released to the investing public, Monday showed that profit after tax grew by 4,641 per cent to N22.9 billion profit compared to N484.6 million reported same ...

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Jaiz Bank Grows Post-tax Profit By 629% In Q3

By Nse Anthony-Uko (Sundiata Finance) – Jaiz Bank Plc, on Monday declared profit after tax (PAT) of N776.6 million for the third quarter ended September 30, 2017, representing an increase of 629 per cent when compared with N107.1 million recorded in the corresponding period of 2016. The Bank’s result released on the Nigerian Stock Exchange (NSE) recorded N4.5 billion income ...

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