The Naira yesterday depreciated in the parallel market to N1,505 per dollar from N1,495 per dollar last weekend. Similarly, the Naira depreciated to N1,490.2 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,490.2 per dollar from N1,485.53 per dollar last weekend, indicating N4.67 depreciation for …

Fidelity Bank Plc started its N127.1 billion combined rights and public offers to a rousing support from the investing public as key capital market stakeholders recalled the symbolic importance of Fidelity Banks impressive growths and investor-friendly disposition over the years. From the Nigerian Exchange (NGX) to stockbrokers, investors and customers; the N127.1 billion combined rights and public offer received unreserved …

The Federal High Court in Lagos has ordered the permanent forfeiture of properties worth over N11.14 billion and N1.04 billion belonging to the former Central Bank of Nigeria Governor, Godwin Emefiele to the Federal Government. Justice Chukwujekwu Aneke issued the final forfeiture order after considering a motion filed by the Economic and Financial Crimes Commission, represented by counsel Chineye Okezie …

The Naira yesterday depreciated in the parallel market to N1,490 per dollar from N1,470 per dollar last week Friday. Similarly, the Naira depreciated to N1,483.02 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,483.02 per dollar from N1,482.72 per dollar last weekend , indicating 30 …

On Thursday June 20, Nigeria’s 6th largest bank, Fidelity Bank Plc will open its public offer and Rights Issue. According to an article on the Businessday website and authored by Iheanyi Nwachukwu, the bank is raising a total of up to N127.100billion by way of a Rights Issue to existing shareholders and a Public Offer (the Combined Offer). Under the …

Nigeria’s sixth largest bank, Fidelity Bank Plc will on Thursday, 20 June 2024 open its public offer and Rights Issue. As part of this capital raising process, Fidelity Bank will same Thursday, 20 June 2024 at the NGX hold a Facts Behind the Offer presentation. According to an article posted on the Businessday website and authored by Iheanyi Nwachukwu, 3.2 …

The Naira on Thursday slightly depreciated at the official market, trading at N1476.24 to the dollar on the exchange market Data from the official trading platform of the FMDQ Exchange, revealed that the Naira lost N2.58. This represents a 0.17 per cent loss when compared to the previous trading date on Tuesday when it traded at N1,473.66 to the dollar. …

The Chartered Institute of Bankers of Nigeria (CIBN) on Wednesday reassured Nigerians that the banking system remained “safe, sound and resilient”, dispelling fears of bank liquidations. CIBN’s President/Chairman of Council, Prof. Pius Olanrewaju gave the reassurance in a statement in Lagos to correct misinformation and fake news that licence of more banks will be revoked. Olanrewaju emphasised the importance of …

The Naira yesterday appreciated in the parallel market to N1,485 per dollar from N1,490 per dollar on Monday. The Naira appreciated to N1,473.66 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,473.66 per dollar from N1,483.62 per dollar on Monday, indicating N9.96 appreciation for the …

The Nigeria Data Protection Commission (NDPC) has said more than 1,000 financial institutions, schools, insurance companies, and consultancy firms are currently undergoing investigations for various degrees of breaches of citizens’ data. This was as the commission’s National Commissioner, Mr. Vincent Olatunji revealed that four major banks and three other institutions have faced sanctions and incurred fines totalling N400 million for …