As economic recession continues to weigh on the banking sector, non-performing loans ratio in the banking industry has crashed further above the Central Bank of Nigeria’s five per cent threshold. The NPLs ratio fell to 13.4 per cent in September…
Stock Market: Investors lose N214bn as market closes on marginal gains
Investors in the nation’s stock market lost over N214 billion last week following massive selloff of shares of highly capitalized companies across the sub sectors on the Nigerian Stock Exchange, NSE. Consequently, the market capitalization of the NSE which represents…
LET’S BE YOUR PARTNER IN PROGRESS THIS YEAR
Generally, life works clockwise, taking you round in circles as you begin the year in January and end it in December only to start the process again. The difference however, is that change is constant and your decisions at the…
MMM Nigeria freezes all confirmed accounts as panic, confusion grip Nigerians
Members of the famous money-doubling scheme, Mavrodi Mundial Moneybox, MMM Nigeria have been thrown into panic and great confusion, last Tuesday, following the message from the ponzi scheme freezing all confirmed Mavros, otherwise known as money due for withdrawal for…
ECOWAS urges Nigeria, others to reform economies
A West African bloc called on Nigeria and other countries to undergo “necessary structural reforms” to improve their economies, as a collapse in oil and commodity prices continues to cripple economic growth. Nigeria and other member countries should “take appropriate…
Stock market rebounds as investors net N468bn in 3 weeks
Investors on the Nigerian Stock Exchange, NSE, have gained N468 billion in three weeks, as the positive run in the stock market continued last week. This sharply contracts the N660 billion loss suffered by investors last month on the NSE.…
Nigeria interbank lending rate eases on budget cash injections
Nigeria’s overnight lending rate fell this week to around 3 percent on Friday from an average of 3.9 percent a week ago on expectations that budget cash will be injected into the banking system on Friday or Monday, traders said.…
NPA to write off N119bn ‘bad debts’
THE management of Nigerian Ports Authority (NPA) has written off N119 billion bad debts. The debts are monies owned the agency by terminal operators and some of its partners in the last ten years. The Managing Director of the Authority,…
TAKE THESE FINANCIAL TIPS INTO 2017
Christmas is fast approaching and a lot of festivities will be going on. While some people are focusing on their weight, especially after two holidays of eating good food, others are focusing on their finances and setting financial goals for…
Approve NCC’s Data price floor- MTN urges senate
The Chief Executive Officer of MTN Nigeria, Ferdinand Moolman last week appealed to the senate to consider the Data price floor as set by the Nigerian Communications Commission, NCC, saying that data price is among the lowest in the continent.…
