Regulation, claims ratios expose gaps in insurers’ investment portfolios

Kelvin EgerueJune 23, 2017

Regulation on limitation in offshore investments of insurance funds and a rising claims outlay are eroding insurers’ profit margins and putting their investment officers on the rope, according to industry watchers and analysts. Analysts say in the advanced economies of America and Europe, insurance companies are known to incubate huge funds deployed in building critical […]

Foreign investors upbeat on Nigeria’s new foreign exchange regime

Businessam StaffJune 23, 2017

The Central Bank of Nigeria’s (CBN) efforts to shore up and stabilize the country’s foreign exchange market is receiving rave reviews from foreign investors who see the introduction of the Investors & Exporters window as a welcome development. The seeming approval of the moves by the CBN can be gleaned from the activities of some […]

Nigeria’s $12bn e-commerce market seen as driver of growth in near term

Olusegun AbisoyeJune 23, 2017

Nigeria’s e-commerce, valued at $12 billion as at end 2016, is being projected as a major driver of growth in Africa’s largest economy, according to the latest Ericsson Mobility Report, released Thursday, June 22, 2017. The report indicated that 62% of Nigeria’s 180 million people are youths who are active Internet and mobile phone users […]

CBN boosts foreign exchange supply with $240m

Businessam StaffJune 23, 2017

Dollar

The Central Bank of Nigeria (CBN) Friday June 23, 2017 allocated the sum of $240 million to the retail secondary market intervention sales (SMIS) segment of the foreign exchange market for spot and forward deals. The allocation comes in the last trading day of the week, ahead of public holidays on Monday and Tuesday. According […]

Banks exposed to Etisalat lose N106bn stock value as investors weigh options

Obodo EjiroJune 22, 2017

Stocks of banks exposed to Etisalat Thursday lost an estimated N106 billion in value at the Nigerian bourse, according to a compilation by Businessamlive. Market capitalisation of nine out of the 13 banks exposed to the controversial $1.2 billion Etisalat debt depreciated by N105.74 billion at the close of trading Thursday. The 225.46 billion shares […]

Nigerian bourse: Bears sustain grip on market as NSE ASI loses 1.6% to profit taking

Niyi JacobsJune 22, 2017

The Equities market extended its bearish run Thursday as the Nigerian Stock Exchange all-share index (NSE ASI) and market capitalization decreased by 1.64%, while the year-to-date (YTD) return stood at 22.53%. Analysts believe the bourse’ performance was mainly due to profit taking. “The decline in performance today was in line with projection as investors expectedly […]

As in India, Tanzania, Etisalat UAE’s walk from Nigeria may be permanent

Phillip IsakpaJune 22, 2017

*Banks seeking regulatory, legislative support for proper financial intermediation…. If history is anything to go by, international and local telecommunication analysts say the United Arab Emirates combination, Mubadala/Etisalat, which owns 70 percent equity interest in Etisalat Nigeria may not be persuaded to return to Nigeria following failed negotiations with a consortium of lenders over an […]

Nigeria’s central bank moves to liberalise management of non-performing assets

Steve OmanufemeJune 22, 2017

* To licence private asset management companies with N10bn capital base…. The growing non-performing assets of banks and the slow recovery efforts by the Assets Management Company of Nigeria (AMCON) have compelled the Central Bank of Nigeria (CBN) to consider licensing private asset management companies (PAMCs) to complement the bad bank’s role in managing non-performing […]