Benue IDPs Get Food Packs from Fidelity Bank

By Modupe Gbadeyanka A creative studio, EPAC Studios, has been unveiled by Ecobank Nigeria Limited to promote talents in the showbiz industry in Africa. The bank disclosed in a statement that the facility would be used to carefully tell “authentic African stories in art, culture, lifestyle, and entertainment.” According to the Head of Marketing and Corporate Communications at Ecobank Nigeria, Mr Jide Sipe, the initiative is to showcase further and develop the creative industry, adding that the space is an open canvas for the public to explore, collaborate and create premium indigenous content for television, online and mobile platforms. EPAC

By Aduragbemi Omiyale The chief executive of CardinalStone Finance, formerly CSAdvance, Mr Ayoola Adeola, said the company would deliver enhanced financial solutions and empower its customers with financial flexibility. Mr Adeola said this while commenting on the recent change of name of the organisation, done because it intends to offer a comprehensive range of financing solutions to a diversified clientele, including SME businesses and high-net-worth individuals. CardinalStone Finance is the subsidiary of CardinalStone Partners Limited. The firm said the transition marks a pivotal moment in the group’s pursuit of becoming a world-class financial services firm, catering to the evolving needs

By Adedapo Adesanya The African Export-Import Bank (Afreximbank) recorded a 107.1 per cent growth in total interest income to $1.1 billion for the half-year of 2023 versus $540.8 million in the same period of 2022. This was contained in the consolidated financial statements of the bank and its subsidiaries for the half year ended 30 June 2023, which demonstrates a strong and resilient performance, which was ahead of expectations due to global headwinds. The growth in its total interest income came as a result of increased volume of interest-earning assets, particularly loans and advances and higher interest rates. Afreximbank Group’s

The Naira recorded an all-time low of 350 to the dollar during trading at the interbank market on Tuesday, August 9, 2016. Business Post correspondent gathered that this has further given some foreign investors another reason to stay away from the Nigerian economy at the moment. On Monday, it was reported that some foreign airlines have decided to shun their businesses in the country because of the “crazy” exchange rate. Business Post further learnt that today at the marker, the Naira was offered at 313 to the dollar and a total of $3.11 million had already been traded by 1:30pm

By Adedapo Adesanya The crude oil market settled largely unchanged on Wednesday despite greater-than-expected draws in crude and fuel stockpiles in the United States. Brent crude futures were up by 5 cents or 0.1 per cent to $84.99 a barrel, and the US West Texas Intermediate crude rose by 10 cents or 0.1 per cent to $80.61 a barrel. The Energy Information Administration (EIA) reported a crude oil inventory draw of 3.7 million barrels for the week to March 31 compared with the preceding week’s draw of 7.5 million barrels, the agency said, adding that at 470 million barrels, inventories

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) ended last week bearish, closing 1.27 percent lower to widen the year-to-date loss to 4.4 percent. Business Post reports that during the week, investors lost a total of N169.8 billion to profit taking, which reduced the market capitalisation to N13.233 trillion. The weekly loss came despite President Muhammadu Buhari assuring the investing community that his administration will use its second term to improve the economy, security and fight corruption; all which were his main focus during his first term in office. The President, who gave this assurance during his June 12 speech,

By Adedapo Adesanya  PAC Capital Limited has assured its clients of high-quality advisory and fund arrangement services that will enhance their growth and expansion prospects. The firm made this assurance after its role as the lead financial adviser and fund arranger to Access Holdings Plc’s $300 million investment finance facility for its lending subsidiary, Access Bank Plc. The Managing Director of PAC Capital, Mr Humphrey Oriakhi, stated that the organisation was committed to ensuring it continues to support growth and expansion for its clients. “We are delighted to bring this landmark deal to a close for our client. This is

By Prince Tonye Pricewill We have taken the time to bring you ten key reasons why Rwanda has to be on your list of places to see not just once but more than once. It took us 10 days to visit a variety of choice locations, and the only reason why we didn’t feel the impact of the hectic schedule was simply because of how amazing each and every one of the experiences was. Safest Cities The internet is riddled with stories and statistics about why Rwanda is the safest country in Africa and possibly the sixth safest in the

By Bolatito Adebola In many industries like banking, it’s often difficult for many to discern any measure being put in place by industry leaders, and this could well be the reason why quintessential banker, Herbert Wigwe, is being misunderstood on certain steps he proposed to be taken by his bank, given the stark reality of the novel COVID-19 pandemic, and this is the meat of this endeavour. He sure needs no introduction about his formidable exploits in the Nigerian banking sector, virtues of which have earned him a name that is firmly entrenched in the public consciousness. Herbert Wigwe, the

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Thursday, May 21 despite a stock recording a price movement. The Nigerian Exchange (NGX) Group recorded a 2.4 per cent or 43 kobo decline during the session to close at N18.32 per share as against N18.75 per share of the previous session. However, this could not sway the unlisted securities market to left or right as it remained static with the key performance indicators closing unchanged when trading activities were concluded yesterday. Business Post reports that the market capitalisation of the NASD Exchange retained the previous value of

By Quantitative Financial Analytics Since the Central bank of Nigeria (CBN) came up with the investor foreign exchange rate window and other actions leading to convergence of rates to around N370 per Dollar, the volume of trade in the Nigerian currency futures market has been recording dramatic decline. The slowdown in volume has been so apparent that the NGUS MAY 30, 2018, which replaced the NGUS MAY 24, 2017 that matured on May 24, has not attracted a single trade ever, an unusual and unprecedented occurrence. According to analysis of open interest report conducted by Quantitative Financial Analytics, the average