FBNQuest slashes minimum entry for investment in Eurobonds
Adesola Afolabi
October 16, 2018
FBNQuest, the investment arm of FBN Holdings has slashed entry requirements for investment in its FBN Nigeria Eurobond Fund to only $2,500 for individuals and $100,000 for corporates. Typically to invest through the fund into a broad range of Eurobond instruments require a minimum of $200,000. The investment house noted that the Nigerian investment market […]
‘Nigeria growth outlook strong despite looming election’
Adesola AfolabiOctober 16, 2018
Nigeria’s economy recorded better than expected private sector credit growth in the third quarter of this year, with more borrowers funnelling the proceeds towards CAPEX-related activities – despite next year’s federal election looming. Bonds & Loans spoke with Jan Friederich, a senior director at Fitch Ratings about lingering risks in the country. Excerpts : […]
Loan growth to real sector to remain mute in near to medium-term on politics, regulation
Adesola AfolabiOctober 16, 2018
In Nigeria, one of such reforms driven by the country’s monetary authority is the launch of incentives to banks that will encourage lending to the real sector, particularly those that have the ability to stimulate economic growth at a faster rate and ease the strain on unemployment. These sectors were identified as the manufacturing and […]
C & I Leasing lists N7bn fixed rate bond on FMDQ
Adesola AfolabiOctober 8, 2018
C & I Leasing Plc., has listed its N7 billion series 1 fixed rate bond under its N20 billion bond issuance programme on the FMDQ OTC Exchange. The listing, which is to raise funds for C&I Leasing’s expansion plans, follows approvals granted by the FMDQ Board Listings, Markets and Technology Committee. Andrew Otike –Odibi, managing […]
CBN moves to establish payment service banks
Adesola AfolabiOctober 8, 2018
The Central Bank of Nigeria has decided to create a new set of financial institutions called payment service banks. This decision, according to the CBN, is in a bid to further enhance financial services for low income earners and unbanked segments of the economy by leveraging technology. To this end, the CBN […]
FMDQ pledges to improve efficiency in Nigeria’s fixed income market
Adesola AfolabiOctober 3, 2018
FMDQ OTC Securities Exchange has reiterated commitment to the development of fixed income securities market in the country. Tumi Sekoni, associate executive director, FMDQ, made this remark while receiving capital market development award given to the exchange by Capital Market Correspondents Association of Nigeria (CAMCAN). According to Sekoni, one of the mandate of the securities […]
Pound sterling, euro surrender gains against US dollar
Businessam StaffOctober 3, 2018
The pound sterling and the European common currency, the euro, both gave up gains against the US dollar as trading got under way in New York Wednesday, according to the Financial Times. The UK currency pulled back as much as 0.43 per cent from its day’s high just after 7am on Wall Street to trade […]
SEC approves mandatory take-over of 10m ordinary shares of Ensure Insurance
Adesola AfolabiOctober 2, 2018
The approval of a mandatory take-over offer for up to 10,000,000 ordinary shares in Ensure Insurance Plc. has been secured from the Securities and Exchange Commission (SEC) by Societe Fonciere Europeenne B.V. (a wholly owned subsidiary of Allianz SE). The takeover priced at 72 kobo opened on the NASD Securities Exchange 26 September 2018 and […]
NSE retains ISO 27001:2013 certification for 3rd consecutive year
Adesola AfolabiOctober 2, 2018
The Nigerian Stock Exchange (NSE) has retained the ISO 27001:2013 certification for its Information Security Management System (ISMS) for the third consecutive year. The re-certification followed a rigorous independent audit of NSE’s Information Security Management System (ISMS) by the British Standard Institute (BSI), to ensure that the principles of the International Organization for Standardization (ISO) […]
C&I Leasing boosts IOC partnership with acquisition of two new vessels
Adesola AfolabiOctober 2, 2018
C&I Leasing Plc is fast warming up to the heart of international oil companies (IOC) as it continues employing strategic expansion activities for improved profit and efficient service delivery, latest of which is the acquisition of two brand new 2018 ‘ASD 2913 Tugboats. According to the leasing firm, the Tugboats have been name d […]