Other News

UnityKapital Asssurance CEO and CFO Fired?
Big Business

UnityKapital Asssurance CEO and CFO Fired?

UnityKapital Assurance has just announced that its Chief Executive Officer and Chief Financial Officer, have both resigned. In a statement released to the Nigerian Stock Exchange, NSE the company said it has “approved the resignation of the following with immediate effect: Mr. Michael Dogo Managing Director/CE 2. Mr. Olugbenga Olasogba […]

Royal Exchange To Raise NGN3 Billion Via Bond
Big Business

Royal Exchange To Raise NGN3 Billion Via Bond

Royal Exchange PLC has announced that it will raise NGN3 billion via bond issuance on the Nigerian Stock Exchange to increase its risk and protection clout. The company is already filing the bond issuance before the NSE for approvals. At yesterday’s closing bells, Auwalu Muktari, group managing director of Royal Exchange said: […]

CBN Insist Banks Must Write-Off NPLs
Policy

CBN Insist Banks Must Write-Off NPLs

The Central Bank of Nigeria, CBN has insist that banks must write-off by making immediate provision for all non-performing loans in their books instead of waiting for the mandatory full year. In a letter issued by Tokunbo Martins, CBN’s Head of Banking Supervision said: “The CBN acknowledges the request by […]

Motir DuSable To Build 300MW Solar Plant In Enugu
Global

Motir DuSable To Build 300MW Solar Plant In Enugu

Motir DuSable Power Investment Limited , a renewable energy company said it has signed a landmark contract with Nigerian government towards planning and building a 100 Megawatt (MW) solar plant in Enugu State. The company said it was awarded a generation license from the Nigerian Energy Regulatory Commission (NERC) for up to 300MW and […]

FMDQ Turnover Hits NGN48.94 Trillion In June
Big Business

FMDQ Turnover Hits NGN48.94 Trillion In June

FMDQ OTC market turnover report shows the turnover on all products traded on the FMDQ secondary market from January to June 2016 amounted to NGN48.94 trillion. The data was collated from the weekly trade data submissions by FMDQ Dealing Member (Banks), represents trades executed amongst the Dealing Member (Banks), Dealing Member (Banks) […]

These Are The Contingency Plans Behind NIFEX
Policy

These Are The Contingency Plans Behind NIFEX

The Nigerian Inter-bank Foreign Exchange Fixing, NIFEX is the FMDQ OTC Securities Exchange reference rate for Foreign Exchange (FX) spot operations in the Nigerian FX market. NIFEX is an FX reference rate intended to represent spot FX market rates that are polled independently and objectively. NIFEX is published every business […]