Mass Telecom Innovations emerges top loser as NASD USI declines 2.1% w-o-w
Adesola AfolabiSeptember 18, 2018
Mass telecom Innovations Plc. emerged the highest loser at the NASD OTC Market for the week ended 14th September 2018 with a 10 percent decline recorded in its share price which closed at 45 kobo per share. The stock alongside Cappa D’Alberto, Friesland Campina Wamco Nigeria Plc and the Central Securities Clearing System Plc which […]
Relative stress index points to market rebound this week, says Afrinvest
Afolabi AdesolaSeptember 18, 2018
With the relative strength index (RSI) at 20.5 points at the close of trade last week, analysts at Afrinvest Research say they expect a rebound in the market this week since the index indicates the market is in the oversold region. They highlighted that the market offers opportunity for re-entry and an upturn in the […]
SEC to roll out regulations guiding capital market Fintech products – Uduk
Adesola AfolabiSeptember 12, 2018
In its desire to transition towards a technology driven capital market as well as protect investors, the Securities and Exchange Commission, SEC, has said that the Commission would soon come out with regulations that would guide such products in the capital market. Mary Uduk, acting director general of SEC disclosed this Wednesday during the presentation […]
CBN, NDIC, others to discuss financial inclusion strategies at FICAN conference
Adesola AfolabiSeptember 11, 2018
The 2018 annual conference of the Finance Correspondent Association of Nigeria (FICAN) conference is bringing together experts from the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), banks, FinTechs, global multilateral financial institutions, as well as public and private sector finance industry players in the country. The two-day conference slated for September 15 […]
FDC projects 60% probability on MPC to keeping rates
Adesola AfolabiSeptember 10, 2018
Research analysts at Financial Derivative Company (FDC) say there is a 60 percent probability rate for the Central Bank of Nigeria monetary policy committee (MPC) to keep rates. Their projection is based on current money supply growth, which according to them, has remained below the CBN target of 10.84 percent, tempered by sterilization via cash […]
Insurers to decide business size, submit operations profile to NAICOM this week
Adesola AfolabiSeptember 10, 2018
The board of directors of insurance companies in the country would be taking critical decisions this week on business size as they submit operational profiles to industry regulator, the National Insurance Commission (NAICOM), on their solvency capital latest Friday, September 14. This is coming on the heels of the tier-based minimum solvency capital (TBMSC) policy […]
FirstBank rolls out educational loans to support schools’ growth plans
Adesola AfolabiSeptember 6, 2018
FirstBank has announced its FirstEdu educational solution specifically designed to support schools in need of improvement and growth in meeting their medium and long-term goals. The FirstEdu product includes FirstEdu portal and FirstEdu loan. FirstEdu loan is targeted at private Nursery & Primary, Secondary and A-Levels schools, offering opportunity for private schools to access flexible […]
Nigeria’s insurance regulator, NAICOM, to issue tier-1 level licences to new investors
Adesola AfolabiSeptember 5, 2018
The National Insurance Commission (NAICOM), Nigeria’s regulatory authority for the insurance sector, has announced that in line with the recently introduced Tier-Based Minimum Solvency Capital (TBMSC) policy, new licences are now available for tier 1 level in both the life and non-life business categories. The TBMSC, which is expected to kick off October 1, 2018, […]
Nigeria targets low income earners with September bond offer
Adesola AfolabiSeptember 5, 2018
Nigeria’s federal government, through its Debt Management Office (DMO), says its September public bond offer is targeted at low income earners seeking investment opportunities. The government is offering for subscription two-year savings bond at 11.36 percent and three-year savings bond at 12.36 percent, aimed at encouraging savings which is poised to earn more income (interest), […]
Investment firm increases stake in NEM insurance, eyes board position
Adesola AfolabiSeptember 4, 2018
Eaton Acquisitions Limited, an investment company has increased its stake in NEM Insurance to 9 percent, days after it announced the acquisition of 4 percent of the insurance company, business a.m has learnt. Olaleye Adeyinka, Eaton Acquisitions’ managing director while expressing confidence in the ability of current NEM’s leadership, said his company is desirous of […]