Less than one percent of Microfinance Banks, MfBs, licenced by the Central Bank of Nigeria, CBN, have national licence to operate in the country.

Says naira devaluation will worsen public debt FSDH Merchant Bank has  projected that the federal government will borrow up to N2 trillion to finance its budget in 2018, describing the nation’s debt service-to-revenue ratio, which rose to 79 percent in first quarter 2018, Q1’18, as very high and unsustainable. The bank also warned that the […]

THE volume of dollars traded in the Investors and Exporters, I&E, window rose by 24.2 percent to $29.7 billion in the first half of the year, H1’18, from $23.9 billion traded in 2017.

The President of the Nigerian Council of Registered Insurance Brokers, NCRIB, Mr. Shola Tinubu, in this interview  speaks  on how disruptors will shape the insurance business in the future. Excerpt

In every community, there is a class of people profoundly dangerous to the rest. I don’t mean the criminals. For them we have punitive
sanctions. I mean the leaders. Invariably the most dangerous people seek power.” Saul Bellow.

Immediate past Chairman of the Nigerian Insurers Association, NIA, Mr. Eddie Efekoha, speaks on how operators are complying with the rates on compulsory insurances and other issues.

THE African Aviation and Oil and Energy pools have generated premium income of $750.98 million from January 1, 2017 to March 31, 2018.

National Coordinator, Independent Shareholders Association, ISAN, Mr. Adeniyi Adebisi, in this interview with Financial Vanguard spoke on audit committee membership and the provision of CAMA as well as government policy that affects the petroleum marketing companies quoted on the Nigerian Stock Exchange, NSE.

NPF Microfinance Bank Plc has grown its profit after tax, PAT, by 14 percent to N631.89 million in its financial year ended December 31, 2017 from N554.9 million in 2016.

NIGERIA Bottling Company, NBC, bottlers of Coca Cola has said it will continue to invest in glass bottles as content container for its brands as it is more environmentally friendly, and helps the consumer to have a healthier drink.

THE equity trading on the Nigerian Stock Exchange, NSE, showed that the equities market fell Week-on-Week (W-o-W) as the NSE All Share Index, ASI dipped by 1.7 percent, dragging the Year to Date, YtD return lower to -1.61 percent, on renewed profit taking activities and weak demand despite the kick off of the Pension multi-fund structure in the week. There were twenty-seven (27) gainers and forty-three (43) losers last week.

SHAREHOLDERS of 11PLC (formerly Mobil Oil Nigeria Plc) have approved N2.6billion for payment as dividend translating to 800 kobo per share for its shareholders for the financial year ended December 31, 2017. However, the company‘s profit dropped marginally by 1.4 percent to N15.3 billion in 2017 from N15.5billion posted in 2016. However, financial sales revenue grew significantly to N125.26 billion in 2017, up by 33 percent from N94.11 billion recorded in 2016.

CUSTOMERS of eleven banks have paid N143 billion as Account Maintenance Fee, AMF, since 2016 when it was introduced by commercial banks.

CADBURY Nigeria Plc has listed the major areas of concentration for the Board and management that will help the company in its drive to sustain the growth achieved in 2017 after a rebound to profitability from the 2016 losses.

FBNQuest Merchant Bank, a subsidiary of First Bank of Nigeria, FBN Holdings Plc, has improved the Finance Faculties in Lagos Business School, LBS, and its Library Community with the creation of a 12 terminal Bloomberg Room.