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14 banks incur N368.3bn bad loans in 9 months

THE trending economic recovery news in the third quarter of 2017 (Q3’17)/ first nine months 2017 (9-M’17), did not prevent the banking sector from some misery in the form of rising bad loans as 14 banks quoted on the Nigerian Stock Exchange, NSE recorded 8.0 percent increase in bad loans (impairment losses), within the period, Financial Vanguard investigations revealed.

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equities,week, Stock market

Nigerian, Moroccan stockbrokers sign MoU on inter-connectivity

In a strategic move to establish a seamless relationship between the Nigerian Stock Exchange (NSE) and its Casablanca counterpart, the two exchanges’ operators, under the aegis of Association of Stockbroking Houses of Nigeria (ASHON) and Association Professionnelle des Sociétés de Bourse (APSB) of Morocco have signed Memorandum of Understanding (MoU).

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Manufacturing

Q3’17: 22 manufacturing companies borrow N839.2bn

Amidst the country’s economic recovery phase and inability to raise long term capital from the Nigerian capital market, top 22 manufacturing companies listed across the sub sectors on the Nigerian Stock Exchange, NSE were constrained to borrow about N839.2 billion in expensive and short term loans from banks and other financial institutions to bridge funding gaps, in the nine months financial period ended September 30 (Q3’17), 2017.

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