Monday , December 11 2017

Capital Market

Market Operators Demand Single License from CBN, SEC

    To facilitate a more robust and deeper financial market, operators in the Nigerian capital market have urged the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to grant them single dealing lincense to access Discount Window. The operators are currently being regulated by the ...

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Q3 2017 Report: Zenith Bank Records Average Performance

    Zenith Bank Records Average Performance In our assessment, relative to the banking industry, Zenith Bank Plc recorded average performance for 9mths to September 2017. Taking into consideration relevant ratios, we arrived at a ‘Bb’ rating. Given its performance, plus an upside of 15.62% to its target price of ...

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Money Market

Amr at Africa 2017 Forum

Participants in the sensitization meetings.       Limited knowledge about trade opportunities in African countries was among the biggest impediments to intra-African trade, Amr Kamel, the Executive Vice President for Business Development and Corporate Banking at the African Export-Import Bank (Afreximbank), has said. Speaking on Saturday during a panel ...

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Brand News

Business Wheels

Mercedes-Benz hits 2.1m sales mark

  This November, Mercedes-Benz delivered 195,698 vehicles to its customers, thus achieving the 57th record month in succession with a 7.2% increase. This adds up to a sale of 2,095,810 units since the beginning of the year 2017. This represents not only the best-ever figure for the period of January ...

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Mazda to unveil new SUV

Four years ago, CEO Masamichi Kogai predicted Mazda would be notching annual U.S. sales of 400,000 vehicles by now. Instead, it is in a second-straight year of decline, with volume under 300,000 and market share retreating from an erstwhile goal of 2 percent. Now Kogai says the U.S. resurgence will ...

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Industry

Politics

APC Begins NEC Meeting

The All Progressives Congress (APC) on Tuesday began the National Executive Committee meeting. The meeting which is currently ongoing at the party secretariat follows the meeting of the national caucus of party which held on Monday night at the Banquet Hall of the Presidential Villa. Present at the meeting is ...

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PDP holds ward congress in Osun

The Peoples Democratic Party (PDP) in Osun on Sunday conducted its ward congress across the state.The congress was held in the 332 wards of the state. A NAN correspondent who monitored the exercise in some wards in Osogbo, Olorunda and Ifelodun Local Government Areas reports that it was peaceful. Speaking ...

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Pension

FCMB Group Plc: No ‘Legacy’ is so rich as Funding

    At the start of the week, the management of FCMB hosted a conference call to review its nine-months 2017 result, provide guidance on outlook and update investors on its acquisition of Legacy Pension Managers. From the details provided, management intends to leverage on its holding of Legacy Pension ...

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PenCom issues new guidelines on voluntary pension contributions

  National Pension Commission (PenCom) has issues new guidelines on voluntary pension contributions This is contained in a circular dated 16 November 2017 to all licenced Pension Fund Administrators and Custodians. Below are the highlights: In respect of voluntary contributions (VCs) by Mandatory Contributors: Withdrawals from VC account is limited to ...

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News from Nigeria

Fitch Withdraws Nigeria’s Seven Energy Ratings

  Fitch Ratings has withdrawn Nigeria-based Seven Energy International Limited’s (Seven Energy) Long-Term Issuer Default Rating of ‘RD’ (Restricted Default) and Seven Energy Finance Limited’s USD300 million face value 10.25% senior secured notes due 2021 of ‘C’ with a ‘RR6’ Recovery Rating. Key Rating Drivers Fitch is withdrawing the ratings ...

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Africa News

AfDB and WWF agree to focus on conservation, energy and agriculture

    The World Wide Fund for Nature (WWF) and the Africa Development Bank (AfDB) have announced a new three-year partnership agreement. The agreement comes on the heels of a three-year Memorandum of Understanding (2014-2017) in which the two organizations committed to deliver major eco-conservation programmes for Africa. Commenting on ...

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Crime Reports