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Stock market to rev up in Q2’17 – MD, NASD Plc

Mr. Bola Ajomale is the Managing Director/CEO, NASD OTC Securities Exchange Plc, the promoter of a trading network that eases secondary market trading of securities of unquoted public companies in Nigeria. In this interview with Financial Vanguard, Ajomale said that activity was dull at the NASD in 2016, but expressed optimism that as more companies comply with the Securities and Exchange Commission, SEC’s directive for shares of all public companies to be registered with it, there will be increased activity in the market. He spoke on various other issues. Excerpt:

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2016 dividends in banks will be constrained – Akinwunmi

The bank is a very liquid bank and you can see the gross earnings grew mainly on account of net interest income. In an environment where interest rate is rising; any liquid bank will benefit from it. Treasury bills rate has gone up significantly, starting from half year 2016, on account of high inflation rate, and that also followed the interest rate in the market. Banks that are very liquid took advantage of that and that was reflected very greatly in the interest income that the bank made.

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Financing SMEs translates to national development – Diamond Bank

The opportunities in financing MSMEs in Nigeria are enormous, considering that there are over 37 million of them present in very sector. MSMEs are responsible for most of the new products and processes, provide most of the employment opportunities (they employ 84.02% of the total labour force) and their contribution to national GDP (48%) is a key indicator of the economic growth of that country. So financing this group of people translates to contribution to national development.

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