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Curated intelligence and deep-dive reports across the featured landscape.

featuredFeb 18, 2021

IMF Supports CBN Cautions Against Cryptocurrency Transactions

The International Monetary Fund (IMF) has cautioned against transacting in cryptocurrency, saying regulating the digital currency remains a concern not just to the Central Bank of Nigeria (CBN) but to

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featuredFeb 17, 2021

Dangote debunks fraudulent scheme on Aliko Dangote foundation’s name

The management of Dangote Foundation has debunked a fraudlent scheme on Aliko Dangote foundation. This was contained in a statement that was made available to Financial Edge “Our attention has been d

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featuredFeb 16, 2021

President Buhari Names Bawa New EFCC Chairman

President Muhammadu Buhari, has named Mr Abdulrasheed Bawa as the new Chairman of the Economic and Financial Crimes Commission. He has therefore requested the Senate to confirm Bawa’s nomination. The

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featuredDec 26, 2020

Why CBN Revokes Seven Payment Service Providers’ Licences

The Central Bank of Nigeria (CBN) has revoked the licences of seven payment service providers and one switch service provider. In an Official Gazette of the Federal Government released yesterday, the

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featuredDec 21, 2020

Union Bank CEO Emeka Emuwa to Retire After 8 Years Board Appoints Executive Director, Emeka Okonkwo, as Successor

The Board of Union Bank Nigeria Plc announces today Monday December 21, 2020, that, after eight years leading the Bank, its Chief Executive Officer, Emeka Emuwa, has communicated his decision to retir

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featuredDec 20, 2020

SunTrust Bank boosts SMEs with N23.96billion loan

In its commitment to make the growth of the small and medium scale enterprises (SMEs), its primary focus, SunTrust Bank gave out a whopping N23.96 billion as loans and advances to the sector in 2019.

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featuredNov 16, 2020

Dangote emerges Most Valuable brand for 2020

For the third consecutive year, the pan-African and fully integrated Conglomerate, Dangote Group has again emerged as the Most Valuable Brand in Nigeria for the year 2020, the outcome of the 2020 edit

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featuredNov 26, 2019

MPC retains MPR at 13.50% - FinancialEDGE

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) after its meeting on November 25th and 26th, 2019 resolved to; Retain the MPR at 13.50 percent; Retain the CRR at 22.5 percent; Retain the Liquidity Ratio at 30 percent; The Asymmetric window at +200 basis point and -500 basis points, around the

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featuredNov 18, 2019

Seplat CEO Austin Avuru To Retire In July 2020 - FinancialEDGE

Seplat Petroleum Development Company Plc (SEPLAT) has announced that her pioneer Managing Director and later CEO, Mr. Austin Avuru will be retiring in July 2020 after 10 years of leading the company. In these 10 years, Mr. Avuru led the development of a strong organization, the deployment of agile systems, processes and stakeholder relationships that

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featuredOct 30, 2019

Union Bank Records N15.6 Billion Profit For Third Quarter 2019 - FinancialEDGE

Union Bank of Nigerian Plc on Wednesday, October 30, 2019, released its unaudited third quarter financial statement for the period ended September 30, 2019, with a profit before tax of N15.6 billion, which is 5 percent above N14.9 billion that was reported same period in 2018. Profit after tax was up by 4 percent from

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featuredOct 22, 2019

SEC Working on Crowdfunding Regulation- Uduk - FinancialEDGE

The Securities and Exchange Commission (SEC), has said that the commission is working on a framework to regulate the use of crowdfunding by small businesses to raise capital. This was stated by Acting Director General of the SEC, Ms. Mary Uduk in an interview with journalists, on the sidelines of the ongoing annual meetings of

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featuredSep 26, 2019

Stakeholders Calls for Regulatory Engagement to Reduce Business Risk - FinancialEDGE

Regulatory risk has been attributed as major reason businesses are not triving and surviving in Nigeria. This was the views of stakeholders in the organized private sector (OPS) and some members of the civil society at a program tagged regulatory conversations in Lagos. The focus was on foreign exchange restrctons on food imports and implicaton

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featuredSep 5, 2019

NSE Reclassify Oando Plc as Low Price Stock - FinancialEDGE

The Nigerian Stock Exchange (NSE) is pleased to announce the reclassification of Oando Plc from Medium Priced Stock to Low Priced Stock effective Thursday, September 5, 2019. This is in compliance to Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Dealing Members’ Rules). Oando dropped below the N5 mark on April 30, 2019, and

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featuredAug 27, 2019

No Hiding Place For Banks Debtors - FinancialEDGE

The Central Bank of Nigeria (CBN) and the Bankers Committee on Monday August 26, 2019, came up with a clause that will make it difficult for any banks borrower to escape not paying his or her debt to their lender. CBN Deputy Governor in charge of Financial System Stability (FSS) Mrs Aisah Ahmed disclosed this

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featuredAug 26, 2019

FDI Went Down By 36.5 Percent in seven months - FinancialEDGE

Total transactions by foreign portfolio investors in the stock market have declined by 36.53 per cent, about N305.3 billion, as foreign portfolio outflows continued to outpace inflows. Total transactions at the stock market also dropped by 31.2 per cent, equivalent to N542 billion. Official report on foreign and domestic portfolio transactions in the past seven

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featuredAug 21, 2019

PwC Report Indicates Diaspora Remittances to Nigeria Hit $34.89b - FinancialEDGE

Diaspora remittances to Nigeria could grow to $25.5 billion, $29.8 billion and $34.8 billion in 2019, 2021 and 2023, PricewaterhouseCoopers (PwC) Limited has said In its latest White Paper Series titled: Strength from Abroad: The Economic Power of Nigeria’s Diaspora, it said over a 15-year period, it expects total remittance flows to the country to

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featuredAug 19, 2019

Zenith Bank Declares 30 Kobo Interim Dividend For Half Year 2019 - FinancialEDGE

The board of directors of Zenith Bank Plc on Monday August 19, 2019, declared an interim dividend of 30 kobo for the half year ended June 30, 2019. According to the report shareholders whose names appears on the register of member at the close of business on August 29, 2019, will be entitled to the

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featuredAug 19, 2019

FIRS boss, Fowler, To Explain Shortfall In Revenue - FinancialEDGE

The Presidency has queried Babatunde Fowler, the executive chairman of the Federal Inland Revenue Service (FIRS), over shortfalls in revenue collection since the inception of the Muhammadu Buhari administration. The presidency complained that there had been significant variances between the budgeted revenue collections and the actual collections from 2015 to 2018. Fowler was also directed

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featuredAug 16, 2019

Headline inflation Drops To 11.08 Percent In July 2019 - FinancialEDGE

The National Bureau of Statistics (NBS) just published the July 2019 inflation report, showing that Nigeria's headline consumer price (CPI) index tapered significantly from prior month. Specifically, headline inflation was 11.08% y/y in July, declining from 11.22% y/y in June. The reading is 2bps lower than Bloomberg consensus average estimate of 11.10%. On a month-on-month

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featuredAug 5, 2019

FMDQ Unveils New Status & Corporate Identity - FinancialEDGE

Today, world financial markets are increasingly moving towards integration, connecting erstwhile fragmented segments and processes across the full value chain of the securities market. Nigeria is not left behind, with recent events in 2018 - such as the commendable feat of straight-through-processing for the settlement of fixed income trades achieved by the Central Bank of

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featuredAug 5, 2019

Senate President heads to Saudi Arabia for Hajj - FinancialEDGE

The President of the Senate, Dr. Ahmad Lawan, on Monday departed Abuja for Saudi Arabia to join millions of Muslim faithful from around the world who are gathered in the Holy Land for this year's Hajj. A statement by the Special Adviser on Media to the Senate President, Ola Awoniyi, said Dr. Lawan, while in

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featuredAug 4, 2019

AMCON Takes Over Firm Over N3.6billion Debt - FinancialEDGE

Following the order of Hon. Justice B.F.M. Nyako of the Federal High Court Asset Management Corporation of Nigeria (AMCON) has taken over Bao Yao Futurlex Iron & Steel Company Limited in Abuja and Bao Yao Huan Jian Iron & Steel, Calabar, Cross River State. The order therefore mandates AMCON to take over all the assets

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featuredAug 3, 2019

Senate President Felicitates with Omo-Agege at 56 - FinancialEDGE

The President of the Senate, Dr. Ahmad Lawan, hereby felicitates with the family, friends and political associates of the Deputy Senate President, Ovie Omo-Agege, as he marks his 56th birthday on Saturday, August 3, 2019. Lawan, on behalf of himself and the entire Senate of the Federal Republic of Nigeria, heartily congratulates Senator Omo-Agege on

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featuredJul 29, 2019

Nestle Nigeria Half Year Profit Up By 22 Percent - FinancialEDGE

Nestle Nigeria Plc was able to sustain its half-year profit after tax growth for the period ended June 30, 2019, with 22 percent increase, from N21,457 billion in 2018 to N26246 billion in 2019. The result shows that revenue was up by 5 percent from N135,295 billion in 2018 to N141,909 billion in 2019. Profit

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featuredJul 24, 2019

‘It’s Sad People Behind AMCON N5trillion Debt Occupy Leadership Positions’ – Kuru - FinancialEDGE

Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria, Ahmed Lawan Kuru, in Lagos today disclosed that the Corporation is working with other sister agencies such as the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC), the Nigeria Deposit Insurance Corporation (NDIC) to produce a full length television documentary of notorious

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featuredJul 24, 2019

DMO Lists FGN Second N100 Billion Sukuk On NSE - FinancialEDGE

Debt Management Office (DMO) of Nigeria on Tuesday, July 23, 2019, listed on The Nigerian Stock Exchange, the second ₦100bn, 7-Year, FGN Sukuk due to mature in 2025. The Sukuk was raised at a rental rate of 15.743%, a 73-basis point discount from the 16.47% rental rate of the maiden issuance listed in April 2018.

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featuredJul 23, 2019

MPC Maintains Status Quo, MPR Still At 13.5 Percent - FinancialEDGE

In the just concluded Monetray Policy Committee (MPC) meeting on Tuesday July 23, 2019, the following were the resolution reached by the Monetary Policy Committee Members; Monetary Policy Rate was retained at 13.5% Cash Reverse Ratio Was retained at 22.5% Liquidity Ratio Was retained at 30.0% Asymmetric window was retained within the corridor of+200 and

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featuredJul 18, 2019

SEC & NFIU Sign MoU To Combat Capital Market Fraud - FinancialEDGE

The Securities and Exchange Commission (SEC) and the Nigerian Financial Intelligence Unit (NFIU) have agreed to collaborate in combating crime in the Nigerian capital market to ensure that suspicious transactions are eradicated from the capital. Ag. DG of the SEC, Ms. Mary Uduk who spoke in Abuja during the signing of a Memorandum of Understanding,

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featuredJul 16, 2019

NSE Inducts 46 Newly Authorized Dealing Clerks - FinancialEDGE

The Nigerian Stock Exchange (NSE) on Monday, July 15, 2019, inducted 46 recently qualified Dealing Clerks charging them to uphold the highest level of ethics and sense of responsibility. Out of the 53 candidates who had passed the Chartered Institute of Stockbrokers (CIS) examination and went through the mandatory practical Automated Trading System (ATS) training

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featuredJul 16, 2019

Kuru Condoles With Afenifere Leader Over Daughter’s Killing - FinancialEDGE

The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru, has condoled with the National Leader of the Pan Yoruba Socio-political Group, Afenifere, Chief Rueben Fasoranti over the killing of his daughter, Mrs Funke Olakunrin (nee Fasoranti) by yet to be identified murderers. 58 years old Olakunrin who was killed

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featuredJul 16, 2019

Nigeria Headline Inflation Falls To 11.22 Percent In June 2019 - FinancialEDGE

Nigeria headline inflation decline to 11.2 percent in June 2019, the National Bureau of Statistics, NBS, reporting for the month of June, 2019, said on Monday July 15, 2019, that headline inflation rate dropped by 0.18 percentage points to 11.2 percent in June from 11.4 percent in May 2019. Similarly, the Bureau noted that Year-on-Year,

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featured

IMF Supports CBN Cautions Against Cryptocurrency Transactions

Dangote debunks fraudulent scheme on Aliko Dangote foundation&#8217;s name

President Buhari Names Bawa New EFCC Chairman

Why CBN Revokes Seven Payment Service Providers’ Licences

Union Bank CEO Emeka Emuwa to Retire After 8 Years Board Appoints Executive Director, Emeka Okonkwo, as Successor

SunTrust Bank boosts SMEs with N23.96billion loan

Dangote emerges Most Valuable brand for 2020

MPC retains MPR at 13.50% - FinancialEDGE

Seplat CEO Austin Avuru To Retire In July 2020 - FinancialEDGE

Union Bank Records N15.6 Billion Profit For Third Quarter 2019 - FinancialEDGE

SEC Working on Crowdfunding Regulation- Uduk - FinancialEDGE

Stakeholders Calls for Regulatory Engagement to Reduce Business Risk - FinancialEDGE

NSE Reclassify Oando Plc as Low Price Stock - FinancialEDGE

No Hiding Place For Banks Debtors - FinancialEDGE

FDI Went Down By 36.5 Percent in seven months - FinancialEDGE

PwC Report Indicates Diaspora Remittances to Nigeria Hit $34.89b - FinancialEDGE

Zenith Bank Declares 30 Kobo Interim Dividend For Half Year 2019 - FinancialEDGE

FIRS boss, Fowler, To Explain Shortfall In Revenue - FinancialEDGE

Headline inflation Drops To 11.08 Percent In July 2019 - FinancialEDGE

FMDQ Unveils New Status & Corporate Identity - FinancialEDGE

Senate President heads to Saudi Arabia for Hajj - FinancialEDGE

AMCON Takes Over Firm Over N3.6billion Debt - FinancialEDGE

Senate President Felicitates with Omo-Agege at 56 - FinancialEDGE

Nestle Nigeria Half Year Profit Up By 22 Percent - FinancialEDGE

‘It’s Sad People Behind AMCON N5trillion Debt Occupy Leadership Positions’ – Kuru - FinancialEDGE

DMO Lists FGN Second N100 Billion Sukuk On NSE - FinancialEDGE

MPC Maintains Status Quo, MPR Still At 13.5 Percent - FinancialEDGE

SEC & NFIU Sign MoU To Combat Capital Market Fraud - FinancialEDGE

NSE Inducts 46 Newly Authorized Dealing Clerks - FinancialEDGE

Kuru Condoles With Afenifere Leader Over Daughter’s Killing - FinancialEDGE

Nigeria Headline Inflation Falls To 11.22 Percent In June 2019 - FinancialEDGE

Dangote debunks fraudulent scheme on Aliko Dangote foundation’s name