NOVA Merchant Bank maintains profit trajectory with N1.15bn in second year
Adesola Afolabi
March 11, 2019
NOVA Merchant Bank, Nigeria’s wholesale financial institutions now in its second year of full financial operations has maintained maintained its profit growth trajectory with the announcement of N1.15 billion in post tax profit for the year ended 31st of December 2018. The profit was about 120 percentage rise over the amount recorded in the wholesale […]
Despite stable outlook, analysts fear currency downside risk from volatile oil prices in H2 2019
Afolabi OluwaseunJanuary 22, 2019
Analysts at Afrinvest and Coronation Research have opined that the determination of the Central Bank of Nigeria to keep the exchange rate market stable has predicated the stability stance, but that the volatile oil prices will surely put the CBN’s resolve to the test in H2 2019. Exchange rate stability was achieved for most of […]
Nigeria’s Standard Organisation vows to expose adulterated lubricant dealers
Nse Anthony-UkoDecember 4, 2018
The Standards Organisation of Nigeria (SON) has stated that it would blacklist and publish the names of erring importers and manufacturers of fake and sub-standard lubricants in the country. Osita Aboloma, director general, SON disclosed that the action would also send a strong warning to unscrupulous individuals to desist from the nefarious trade in fake […]
Global markets surge on China-U.S. trade truce, dollar dips, yuan up
Businessam StaffDecember 4, 2018
A temporary ceasefire in the U.S.-China trade war boosted global stocks to their highest in about three weeks on Monday, while sending the dollar lower and the Chinese yuan and several trade-dependent currencies higher. The rally in equities follows an agreement reached between Washington and Beijing at the G20 summit in Argentina on Saturday that […]
CRe Investment to acquire all outstanding shares of CRe Nigeria
Afolabi OluwaseunNovember 27, 2018
Afolabi Oluwaseun The board of directors of Continental Reinsurance Plc (CRe Nigeria) has announced that it has received an offer from CRe African Investment (CRe Investments), to acquire all the outstanding and issued shares of CRe Nigeria. In a bid to consolidate CRe Nigeria’s operations and repositioning it for enhanced competitiveness in the global insurance […]
Exploring the capital market window for universities’ funding
Uche UwalekeNovember 27, 2018
Uche Uwaleke The kernel of the current industrial action embarked upon by the Academic Staff Union of Universities is funding of public universities in Nigeria. The university teachers are not happy over the non-implementation of the Memorandum of Action (MOA) signed with the Federal Government with respect to revitalisation of public universities. Owing to increasing […]
Only 8.5% of bitcoin, cryptocurrency traders are female
Joel EneogweMay 14, 2018
A new demographic analysis of people trading in cryptocurrencies has shown that only very few – 8.5 percent – are female, with most having little to no previous experience. The study also showed that many of this 8.5 percent are students or working in sales and marketing roles. The research, conducted by Etoro, a social […]
CME Group ups operations with instant ethereum reference rate, price index
Businessam StaffMay 14, 2018
CME Group, a derivatives exchange operator has upped its operations with the introduction of an ethereum reference rate and a real-time ethereum-dollar index in partnership with UK-based digital asset trading service, Crypto Facilities. The group on Monday said it would make available daily benchmark price in U.S. dollars each 24 hours, as well as the […]
Bitcoin faces renewed sell-offs, down 40% to $8,000 on prospect of increased regulation
Businessam StaffFebruary 2, 2018
The prospect of increased regulation, the $500 million hack of a Japanese exchange and a move by Facebook to ban cryptocurrencies advertisements, have heightened negative sentiments about bitcoin, which fortune went from bad to worse Friday. The digital currency dropped below $8,000 on Friday for the first time since November 2017, down over 40% so […]
Euro trades low in Asia as market witnessed sell-offs on German’s Merkel challenges in forming govt
Businessam StaffSeptember 25, 2017
The euro fell Monday in early Asian trading after Angela Merkel won the fourth term as the German Chancellor Sunday as traders engaged in sell-offs on uncertainty around the Merkel’s party forging a coalition, according to reports. The shared currency by most European countries was down 0.6 percent to $1.1185, just as the yield on […]