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File: Banking hall

SEC to penalise banks charging fees for e-dividend registration

The Securities and Exchange Commission, SEC, is to penalize Deposit Money Banks and Capital Market Registrars for charging fees in the on-going e-dividend registration exercise. Nigeria small investors’ unclaimed dividend currently stands at about N90 billion. Investigations revealed that SEC had been inundated with complaints from shareholders who heeded the campaign and went to banks and registrars to register for their e-dividend.

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An-estate-in-Abuja

Things to consider when buying a house

As a renter, you have the luxury of choosing a place that meets your needs at the moment. Buying a home is a much bigger commitment, both in terms of finances and the length of time you’ll likely live there. When seeking out a house to buy, it’s important to do your homework. As one of the largest financial decisions in a person’s life, buying a home requires discretion, sensibility and budgeting. The following tips will keep you on the right path as you look to purchase your house.

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Economy

NSE: Why institutional investors still dominate domestic transaction

Amidst decrease in domestic investors’ participation at the Nigerian Stock Exchange, (NSE) institutional investors have continued to dominate activity in the domestic space in the capital market compared to contribution by their retail counterpart. Recent figure released by the NSE on percentage of contribution by domestic institutional and retail investors for the month of December, 2015 showed significant decline in the total contribution by retail investors.

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Gov Central Bank of Nigeria, Central Bank of Nigeria

Bank customers kick against current account maintenance fee

In a communiqué signed by President of the Association, Mr. Uju Ogubunka, and Executive Secretary, Onyema Okoroh, the Association called on the CBN to, “ Withdraw the Circular introducing the fee and allow bank customers to enjoy the free COT regime; Avoid legalising illegality of Account Maintenance Fee; Avoid replacing COT with Account Maintenance Fee; Direct banks that had charged Account Maintenance fees not only to stop such charges but also to refund all the money they had collected from their customers since the introduction of the Guide to Bank Charges in 2004 (16 years); Endeavour to consult stakeholders before the introduction of charges/fees foreign to the subsisting Revised Guide to Bank Charges.”

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Mr. Davidson-Regha

SMEs central to government’s diversification bid – Regha

Our corporate strategy and the vision of the bank states that we want to build and transfer wealth across generations. The SMEs are part of that strategy. If you focus on the SMEs, it means you have to meet with entrepreneurs at the incubation stage of their business. And if you are to help them grow and become very big and successful, that means you will be able to transfer wealth from one generation to the other.

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File: Telecom (GSM neteworks)

Telecommunications spur growth in GDP

The National Bureau of Statistics (NBS) weekend said that the telecommunications sector contributed N 1,385.85 billion to Gross Domestic Product (GDP) in the third quarter of 2015, adding that the subscriber base of service providers rose by 16.15 million. The NBS report stated that “In September 2015, at the end of the third quarter, there were a total of 148,427,423 GSM subscribers divided across the four networks of Airtel, Etisalat, Globacom and MTN. This figure is slightly 0.19 per cent lower than in August when there were 148,703,160 subscribers, the first monthly decline since July 2014.

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buhari-Naira

Nigeria’s economy in the next 4 yrs, by NBS

Amidst several projections of challenging economy in the year 2016 by many economists and the International Monetary Fund, IMF, the National Bureau of Statistics, NBS, has outlined its own position on all key economic indicators, not just for 2016 but also in the next four years to 2019. The projections covers the annual growth rate of real Gross Domestic Products, GDP, annual Inflation rate, and the annual growth rate of the Value of Total Trade, VTT.

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