The Nigerian Stock Exchange, NSE, has expanded its product offerings via the official listing of Vetiva Griffin 30 Exchange Traded Fund, ETF, on the floor of the exchange recently. Haruna Jalo-Waziri, executive director, business development at the exchange, explained that the new product is an open-ended fund that is designed to track the performance…
NSE Reduces Trade Alert Costs By Over N1 billion
In a bid to attract more investors to the Nigerian capital market, the Nigerian Stock Exchange, NSE, has decided to scrap the 0.06 per cent charge on the Trade Alert service from March 2014. While the management of the exchange scraps the old alert system, it has introduced X-Alert, an enhanced notification system, which…
First Bank Best In Nigeria
First Bank Nigeria, FBN, has been ranked as Nigeria’s number one banking brand in 2014. The bank has been so ranked for the third consecutive time. In the top 500 banking brands ranking of the world, released by The Banker Magazine, Financial Times Group and Brand Finance, United Kingdom, UK, FBN came top amongst…
Federal Government Appoints Emefiele As CBN Governor
Godwin Emefiele, the chief executive officer, Zenith Bank Plc, has been appointed as substantive Governor of the Central Bank of Nigeria, CBN. He replaces Sahusi Lamido Sanusi, who was suspended this morning by President Goodluck Jonathan. Bayo Adelabu, executive director, First Bank Plc has also been named deputy governor, replacing Tunde Lemo. The names of the…
President Jonathan Suspends CBN Governor Sanusi
In what appears to be a tale of the hunter being the hunted, Lamido Sanusi, governor, Central Bank of Nigeria, CBN, has been suspended by President Goodluck Jonathan. Sanusi who has been having a running battle with the petroleum ministry and the Nigerian National Petroleum Corporation, NNPC, over his allegations of $20 billion missing…
Citibank Nigeria Calls for Award Entries
Citibank Nigeria Limited has called on business and financial reporters to submit entries for the 2014 Citi Journalistic Excellence Awards, CJEA, competition. The award, which began in 1982, was introduced to recognise journalists for excellent financial and business reporting. Ogochukwu Ekezie, vice president, public affairs of the bank, explained that like previous winners, the best in…
UBA Honours Staff
For employees of United Bank for Africa, UBA, and other stakeholders in the bank, it was a night of fun, entertainment and rewards on February 8, 2014 as they gathered from across the country and beyond to celebrate members of staff who distinguished themselves in the 2013 financial year. The annual UBA CEO Awards ceremony, which…
Nigeria Scares Away Foreign Investors – Benjamin Akande, US-based economist
Nigeria is popularly known as the giant of Africa and the growth rate of its economy, which is rated among the best in the world, above the United States, US, and United Kingdom, UK, confirms that lofty position. Aside from the state of the economy, most of the successful physicians, businessmen, and academics in the…
Grohe Group Seeks Growth Opportunities
As part of its global expansion strategy, Grohe, a German international company, enters the Nigerian market with its premium sanitary fittings and water technology With its recent rating as an emerging economic powerhouse, Nigeria has become a great attraction for foreign companies. Only last week, Grohe Group, a German international company, reputed to be Europe’s…
ICAN Appoints Enterprise Bank As Collecting Bank
Enterprise Bank has been appointed as a lead and collecting bank for various payment schemes of the Institute of Chartered Accountants of Nigeria, ICAN. The professional body in a letter to its stakeholders said, “We appointed the bank as a lead bank as well as Collecting Bank for our payment schemes, which include student…
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