Shareholders’ expectation of robust dividend payout by listed companies may be shrinking as the boards and managements of Access Bank Plc., Zenith Bank Plc., others are set to meet this week to decide on 2016 financial report and dividend payout. The board and management of Zenith Bank are expected to meet on Tuesday, January 24, …
Recession: Shareholders’ hopes shrink as banks’ directors meet Read More »
Under the current market regulatory framework, the naira is bound to remain under pressure and unstable until the market is allowed to operate freely and efficiently. This was disclosed by a group of analysts at Financial Derivatives Company (FDC) Limited in their outlook for the naira in 2017. According to Bismarck Rewane, FDC’s Chief Executive …
The country’s external reserves rose to $26.2bn on January 4, 2017, up from $25.8bn on December 30, 2016, the latest data from the Central Bank of Nigeria showed on Thursday. The data also showed that the foreign exchange reserves ended last year with $25.84bn balance on December 30, 2016. The foreign exchange reserves had risen …
The Federal Government, in a bid to check the high level of under-remittance of funds by revenue-collection agencies, has issued fresh guidelines for the computation of operating surpluses. The new guideline that will guide the preparation of the agencies’ financial statements for the next three years covering up to 2019 is contained in a circular …
Unremitted N450bn: FG issues new guideline for calculating surplus Read More »
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 the total value of stocks traded on the exchange dropped from N9.246 trillion it opened …
Stock Market: Investors lose N214bn as market closes on marginal gains Read More »
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 beginning of the year determines how the rest of the year goes. Decisions can be …
Following an injection of naira liquidity into the banking system, Nigeria’s overnight lending rate dropped sharply to an average of 3.9 percent on Friday from 10 percent a week ago. A total of 454 billion naira ($1.49 billion) in debt refund to state governments and matured treasury bills entered the system this week, raising liquidity …
Nigeria’s overnight lending rate falls sharply on naira injection Read More »
The Central Bank of Nigeria (CBN) and the Nigerian Deposit Insurance Corporation (NDIC) have commissioned a study on the establishment of an institution that would take after the Asset Management Company of Nigeria (AMCON) at its expiration. The institution, which is being scripted as a private sector-led initiative to avoid the use of public fund …
CBN, NDIC plan AMCON’s replacement, Warn on Bitcoin transactions Read More »
THE Minister of Finance, Kemi Adeosun, last week said that the federal government will propose reduction in the income tax rate applicable to the Micro, Small and Medium Enterprises, MSMEs, as an incentive to encourage compliance and promote the sector. The minister said this in Lagos, at a Coalition of MSMEs stakeholder Public Private Dialogue, …
The Minister of Budget and National Planning, Senator Udoma Udo Udoma, yesterday, said that the Federal Government has spent N3.577 trillion as at September out of the N6.06 trillion budgeted for 2016 He disclosed this in Lagos at the KPMG CFO Forum saying: “The Federal Government has spent about N3.577 trillion as at September 2016 …
Budget 2016: FG spends N3.577tr in 9 months — Udoma Read More »
