Fidelity Bank to Issue N100bn Bond in Q4 2020

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

By Dipo Olowookere The domestic currency had a breather in the peer-to-peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, with its value strengthening against the Dollar at the two windows. This was supported by the ease in the forex demand pressure during the trading session, which had the official market, the Investors and Exporters (I&E) arm of the market, non-operational yesterday due to the public holiday observed in the country for Eid el Maulud. Many customers who may have needed FX for their transactions stayed back to enjoy the work-free day, easing off

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent

By Modupe Gbadeyanka The Central Bank of Nigeria (CBN) has been advised to insert expiry dates in each batch of the redesigned Naira notes to discourage the stockpiling of the banknotes by corrupt politicians and persons with questionable sources of income. Almost a month ago, the CBN Governor, Mr Godwin Emefiele, announced that the current N200, N500, and N1,000 notes would be phased off by January 31, 2023, with the new series of the denominations introduced into the financial system by December 15, 2022. The reason for this policy, according to the apex bank chief, was because it was discovered

By Adedapo Adesanya Ogun State is bracing itself to become the next epicenter of investment as the Deputy Governor of the state, Mrs Noimot Salako-Oyedele, has said the Mr Dapo Abiodun led administration was committed to making it the number one business destination in the country. The Deputy Governor said this during a courtesy visit to Eko Supreme Resources Limited, Primera Foods Limited and Natural Prime Limited in OPIC Industrial Estate Agbara, in the state. According to Mrs Salako-Oyedele, since the present administration assumed office, the Governor has met with Manufacturers Association of Nigeria (MAN) and related companies about five

By Modupe Gbadeyanka Nigeria’s National Pension Committee (PenCom) boss, Mrs Chinelo Anohu-Amazu, has disclosed that despite how people downgrade Africa, the continent was still very attractive to foreign investors. Mrs Anohu-Amazu said, “There is a lot of talk around retrenching from Africa but I’m not seeing this at all,” pointing out that, “Look at what the International Finance Corporation (IFC) are doing in the region for instance. If you look at the amount of money they are putting into Africa, I wouldn’t say this meant that investment was scaling back at all.” Her remarks come at a time when private

By Modupe Gbadeyanka A former employee of First Monument Bank Plc, Ms Oluwatoyin Jinadu, has been arraigned by the Economic and Financial Crimes Commission (EFCC) for allegedly stealing N52 million from an account belonging to one of the bank’s customers. Ms Jinadu was on Friday brought before Justice Sylvanus Oriji of the FCT High Court sitting in Apo, Abuja on a 20-count charge bordering on theft and forgery. Trouble started for the woman when a petition was sent to the EFCC alleging that as account officer to Dr D. K. Okoye in the Wuse 2 Branch of FCMB, the suspect

By Financial Gazette Newswire Angola’s is failing to control its foreign and domestic debt which is estimated at nearly $80 billion despite being the second largest oil producing country in Africa and the continent’s third strongest economy. The debt is very high considering that the country has a resources that has been a major contributor to it’s economic revival and potential for growth if properly managed. The huge debt is creating high taxes for future generations With a population of about 30 million, it means every Angolan owes financial institutions $2,666. Even a child born today in Angola will have

Female cruiserweight boxers, Celina Agwu ‘Pretty Assassin’ and Bolatito ‘Black Tito’ Oluwole, have threatened fire and brimstone ahead of the title clash scheduled for GOtv Boxing Night 29 on 24 September. The bout is one of the six scheduled for the boxing showpiece, billed to hold at the Molade Okoya-Thomas Indoor Sports Hall of Teslim Balogun Stadium, Lagos, on September 24. In an interview at her training base in Lagos, Pretty Assassin, a Police officer, said Black Tito will experience the wrath of an assassin. “There is a reason I’m called Assassin. I will show her why.  She is about

By Dipo Olowookere PHD’s seventh publication “Merge|The closing gap between technology and us” explores a future where consumers will virtually and biologically join with technology through exclusive interviews with inspirational business leaders, academics and researchers. At this year’s Social Media Week scheduled to hold at the Landmark Centre, Victoria Island, Lagos, from February 26 to March 2, 2018, PHD continues its look into the future of technology and the associated implications and opportunities for marketers with the launch of its latest publication, Merge. Merge sets out how technology and human evolution has progressed since the 1950s and what the world

By Modupe Gbadeyanka Some executive members of the Chartered Institute of Bankers of Nigeria (CIBN) recently paid a visit to the office of Keystone Bank Limited in Lagos. The CIBN team was led to the engagement session by the President/Chairman of Council, CIBN, Mr Uche Olowu, and was welcomed by the Group Managing Director/CEO of Keystone Bank Limited, Mr Obeahon Ohiwerei. During the visit, key industry issues of interest to the institute and the bank were discussed, with the Registrar/CEO of CIBN, Mr Seye Awojobi; and the Group Deputy Managing Director of Keystone Bank Limited, Mr Abubakar Sule, also adding