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JenneteUgo Anya
- July 30, 2024
Access Holdings Taps Influencers For N350bn Rights Issue
Access Holdings, one of Nigeria’s largest financial services companies, has enlisted social media influencers to promote its substantial N350 billion rights issue. As competition for capital intensifies, Nigerian banks are increasingly shifting from traditional marketing strategies to influencer marketing to drive their public offers. A review of the marketing strategies by Access Holdings, GTCO Holdings, […]
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- July 30, 2024
Wema Bank Launches ALATPay
Wema Bank has introduced a new payment gateway called ALATPay, specifically designed for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Unveiled recently in Lagos, ALATPay aims to provide a secure and seamless shopping experience for customers while ensuring instant settlement for merchants through a unique ALATPay link. According to a statement released by the […]
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- July 30, 2024
Zenith Bank Set To Raise N290bn In New Capital
Zenith Bank Plc has announced plans to raise approximately N290 billion in fresh capital, exceeding the N230 billion required to comply with the Central Bank of Nigeria’s (CBN) new recapitalisation mandate. The announcement was made during the bank’s rights issue and public offer signing ceremony held on Monday, 29th July, in Lagos. The bank detailed […]
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- July 29, 2024
Fidelity Bank Extends Offer Period Amid Capital Raise Initiative
Fidelity Bank Plc has announced an extension of its ongoing combined offer, comprising a public offering and rights issue, until August 12, 2024. This extension, approved by the Securities and Exchange Commission (SEC), allows investors additional time to participate in the bank’s capital-raising efforts, initially set to close on July 29, 2024. The combined offer, […]
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- July 29, 2024
CAC Sets New Guidelines For Bank Recapitalisation, Mergers
The Corporate Affairs Commission (CAC) has unveiled new guidelines to support Deposit Money Banks (DMBs) in Nigeria as they undergo recapitalisation. This initiative, announced recently via the commission’s official Facebook page, underlines the need for immediate compliance, in accordance with Section 8 (1) (e) of the Companies and Allied Matters Act No. 3 of 2020. […]
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- July 29, 2024
SEC Approves NGX Impact Board To Enhance Sustainability
The Securities and Exchange Commission (SEC) has granted approval to the Nigerian Exchange Limited (NGX) to launch its Impact Board, a specialised platform aimed at enhancing the listing and visibility of sustainability-focused financial instruments. The announcement was made during a Closing Gong Ceremony held at the NGX headquarters in Lagos on July 27, 2024. The […]
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- July 29, 2024
Investors Lose N1.1trn As Nigerian Equities Market Declines
The Nigerian equities market experienced a significant downturn recently, with investors losing N1.1 trillion by the close of trading. The dip was driven by declines in the share prices of several key stocks, including ETERNA, Dangote Cement, and DAAR Communications. The equity capitalisation fell to N55.6 trillion, a decrease from the N56.7 trillion recorded. The […]
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- July 26, 2024
Stock Market Hits New Low Amid Persistent Sell-Side Pressure On NGX
The Nigerian equities market continued its decline on Thursday, September 25, 2024 with the market shedding N118 billion, equivalent to a 0.21 percent decrease, as sell-side pressure persisted. The downturn was influenced by investor reactions to the half-year (H1) financial results of companies and the recent hike in the benchmark interest rate, which has made […]
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- July 26, 2024
Manufacturers Lose N1.7trn To Forex Crisis, Says FIRS
The Federal Inland Revenue Service (FIRS) has reported that Nigerian manufacturing companies lost around N1.7 trillion last year due to a severe foreign exchange (forex) crisis, causing many to halt operations. Chairman of the FIRS, Mr. Zacch Adedeji, disclosed this information during a recent meeting with the Senate Committee on Finance at the National Assembly […]
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- July 26, 2024
SEC Launches Initiative To Tackle Unclaimed Dividends
The Securities and Exchange Commission (SEC) has announced a new identity management initiative aimed at addressing the issue of unclaimed dividends in Nigeria. This initiative was unveiled during a recent workshop on Identity Management for the capital market, held in Lagos. Director- General (DG) of the SEC, Mr. Emomotimi Agama, emphasised the importance of the […]
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