The total unclaimed dividend figure in the Nigerian capital market stood at N158.44 billion as of December 2019, the News Agency of Nigeria (NAN) reports. Data obtained exclusively by NAN from the Securities and Exchange Commission (SEC) show that the figure is still on the increase in spite of e-dividend registration introduced by SEC in 2015. NAN reports that dividend is the distribution of a portion of the company’s earnings, decided and managed by the...
The dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency. China’s yuan rose to a four-month high against the greenback, extending recent gains as investors of all stripes increase positions in Chinese stocks due to growing signs of a recovery in the world’s second-largest economy. Lingering worries about the spread of the coronavirus could keep...
The Nigerian Stock Exchange (NSE) has urged investors to trade with caution on the shares of 13 companies for failing to submit financial statements without any explanation. The News Agency of Nigeria (NAN) reports that the affected companies include Aso Savings and Loans, Deap Capital Management & Trust, DN Tyre & Rubber, FTN Cocoa and Goldlink Insurance. Others are International Energy Insurance, Medview Airline, Resort Savings & Loans, Staco Insurance, Standard Alliance Insurance, UNIC Diversified...
Access Bank Plc has announced plans for acquisition of 100 per cent of Cavmont Bank Limited, a Zambia-based financial institution. The bank disclosed this in a regulatory filing to the Nigerian Stock Exchange (NSE) signed by Mr Sunday Ekwuochi, its Company Secretary. It said the acquisition plan would be consummated through its Zambian subsidiary, Access Bank Zambia Limited. “Access Bank has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc, regarding a potential transactions...
The Central Bank of Nigeria (CBN), said on Thursday that it would support 70,000 maize farmers under its Anchor Borrowers Programme, during the 2020 wet farming season. Mr Nuhu Muazu, Head Development Finance Office, CBN, disclosed this in Bwari, Abuja, at the launching of farm inputs distribution to maize farmers for the 2020 wet season. Muazu said that the programme was designed to boost food production and guarantee food security in the country. While urging...
An FCT based Empowerment foundation, Ventures Platform (VPF), says plans are in the pipeline to create at least one million jobs for Nigerians and other Africans in three years to reduce the level of unemployment on the continent. Mr. Mimshach Obioha, Executive Director, Ventures Platform Foundation (VPF) said this in Abuja on Tuesday in an interview with the News Agency of Nigeria (NAN) to mark the organisation’s fourth anniversary. Obioha said the jobs would be...
New York Governor Andrew Cuomo rang the opening bell on the New York Stock Exchange on Tuesday, as a limited number of traders returned to the historic floor for the first time since March. The coronavirus pandemic in New York City has been particularly severe. The city has suffered some 20,000 deaths, about a fifth of the total across the whole of the United States. The exchange floor closed after an outbreak of several cases within the building....
The early action by Nigeria to tap cheap loans has increased the risk perception among foreign investors. This led to a fall in the borrowing cost of the country. According to Bloomberg, “Yields on Nigeria’s dollar bonds maturing in 2047 fell from an all-time high of 13.2% on March 19 to 9.1% on Wednesday. This is as the West African nation presented a revised $27 billion budget to the cabinet that kept spending intact, with...
The Federal Government of Nigeria had threatened to prosecute its citizens who were not paying tax on their properties in foreign countries. This was made known in a statement signed by the spokesperson of the Attorney General of the Federation, Abubakar Malami (SAN), Umar Gwandu on Thursday. The statement also stated that any bank or intermediary that helps any Nigerian citizen to shield such property would pay the fine which is equivalent to the cost...
United Kingdom on Thursday said it would be investing up to 20 million Pounds in the African Union’s new ‘Africa anti-COVID-19 fund’ to slow down the spread of coronavirus and save lives. The British High Commission in Nigeria said in a statement that the funding was announced by UK International Development Secretary, Anne-Marie Trevelyan. According to the statement, this makes the UK the largest national donor to the fund which was announced by Cyril Ramaphosa,...
