Daily News
THE SUN
CBN Directs Banks to Get Borrowers’ Records from Credit Bureau
As part of their due diligence in granting credit facilities, banks should obtain reports of borrowers from credit bureaux, their regulator, the Central Bank of Nigeria (CBN), has said. The apex bank gave this order in its report on ‘Monetary, credit, foreign trade and exchange policy guidelines for the fiscal years 2020/2021’. It also mandated that the operations of private credit bureaux would… Read More
GUARDIAN
CIS Seeks Investors’ Collaboration to Increase Returns
The Chartered Institute of Stockbrokers (CIS) has urged investors to partner stockbrokers to minimise investment risks and maximise returns. President of the Institute, Olatunde Amolegbe, who commended the performance of the Nigerian Stock Exchange (NSE) last year, advised local investors to take advantage of the enhanced return on investment (ROI). In his 2021 goodwill message… Read More
Equities Rebound as Capitalisation Rises by N24 Billion
The Nigerian stock market rebounded yesterday after the previous day’s negative performance, as market capitalisation increased by N24 billion. At the closed of trading, the All-Share Index (ASI) gained 69.01 absolute points, representing a gain of 0.17 per cent to close at 40,465.15 points. Similarly, the overall market capitalisation value appreciated by N24 billion to close at N21.158 trillion… Read More
PUNCH
Demutualisation: NSE Names CEOs for Emerging Entities
The National Council of the Nigerian Stock Exchange has announced Chief Executive Officers that will head its operating and non-operating companies upon the completion of its ongoing demutualisation. A statement from the exchange said Mr. Oscar Onyema was appointed group CEO of the Nigerian Exchange Group Plc; Temi Popoola becomes CEO of the Nigerian Exchange Limited… Read More
PUNCH
FG to Borrow Unclaimed Dividends, Dormant Accounts – Finance Act
The Federal Government plans to borrow unclaimed dividends and funds in dormant account balances of Deposit Money Banks. It disclosed this under Part XII of the Companies and Allied Matters Act in the signed Finance Act 2020. Under Part XII of the Act, it was stated that dividends were special debts due to and recoverable by shareholders within 12 years, and actionable only when declared… Read More
THE SUN
How Recapitalisation, COVID-19, #EndSARS Rocked Insurance Sector Performance in 2020
Although the 2020 financial year-kicked off with so much expectations from stakeholders in all sectors of the Nigerian economy, the trauma that followed it to the end was such that many never wanted to experience again. Indeed, Nigerian insurance industry practitioners for their part were upbeat at the beginning that the year would usher in the long awaited development having tagged… Read More
THIS DAY
Marginal Fields: DPR Forges Ahead Despite Challenges
In June last year, the federal government commenced the process of awarding marginal oilfields to qualified bidders, especially indigenous oil and gas companies that had shown capacity and resilience over the years. Coming at a time that the country’s revenue had gone south due to headwinds occasioned by the vicissitudes of the international oil market, resulting in falling prices… Read More
PUNCH
APC Group Calls for Sacking of Service Chiefs
Supporters of the All Progressives Congress under the aegis of the Coalition of APC Support Groups, on Wednesday, reiterated the call on the President, Major General Muhammadu Buhari (retd.), to replace the service chiefs. The group said the current state affairs in the country especially as it concerns the safety of lives and property was making it difficult for committed party members… Read More
GUARDIAN
Facebook and Twitter Block Trump for Breaking Rules
Facebook barred US President Donald Trump from posting Wednesday over messages it said were promoting violence as his supporters stormed the US Capitol — following a similar stand taken by Twitter. The sanctions came after the president took to social media to issue a series of false claims — including in a short video — about the election he lost to Joe Biden having been stolen… Read More