W/Bank mobilises $5.79bn private capital for Nigeria
By Emma Ujah, Abuja Bureau Chief The World Bank Group has said it is helping to mobilise $5.79 billion in private capital for investment in Nigeria’s agriculture, telecommunications and micro, small and medium enterprises (MSMEs), in a major push to expand private-sector participation in the economy. The financing drive is being supported by policy reforms, […]
FCMB Group completes 88.2% acquisition of Legacy Pension Managers
FCMB Group Plc has completed the acquisition of an additional 60 percent equity stake in Legacy Pension Managers Limited (Legacy). The acquisition, which increases the holding company’s interest in the company from 28.2 percent to 88.2 percent, was concluded at the Completion Board Meeting of Legacy on yesterday in Abuja.
Rising investors’ confidence lifts external reserves to $34.9bn
The Central Bank of Nigeria (CBN) yesterday said that the nation’s external reserves have risen to $34.9 billion, the highest in 30 months, driven by increased investor confidence in the Nigerian economy.
Afrinvest launches Plutus Fund
Afrinvest Asset Management Limited, a subsidiary of Afrinvest (West Africa) Limited, has launched the Afrinvest Plutus Fund, a simple and affordable saving solution designed for all classes of income earners with a minimum subscription of N5,000.
BoI protests disbandment bid
THE Acting Managing Director of Bank of Industry, BoI Waheed Olagunju, yesterday against moves by the Senate to disband it following plans to establish National Development Bank of Nigeria (NDBN). If the Bill for an Act to establish the National Development Bank of Nigeria,(Establishment etc.) Bill, 2016 scales through, passed into law and assented to by the President, the BoI will no longer exist as the new bank would have taken over the hitherto functions of BoI.
SEC signs MoU with Morocco to boost market growth
The Securities and Ex change Commission, SEC, ha signed a Memorandum of Understanding, MOU, with its Moroccan counterpart, Autorite Marocaine Du Marche Des Capitaux, AMMC, to boost cooperation between both regulators and the capital marker operation. The MoU, which was signed on the sidelines of the Nigerian- Moroccan bilateral talks marked with the visit of […]
