Chris Ugwu, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Wed, 14 Aug 2024 09:30:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Chris Ugwu, Author at Nairametrics 32 32 201037849 Stockbrokers report “high investor interest” in ongoing banks’ rights issues and public offers https://nairametrics.com/2024/07/22/stockbrokers-report-high-investor-interest-in-ongoing-banks-rights-issues-and-public-offers/ https://nairametrics.com/2024/07/22/stockbrokers-report-high-investor-interest-in-ongoing-banks-rights-issues-and-public-offers/#respond Mon, 22 Jul 2024 10:27:34 +0000 https://nairametrics.com/?p=494083 Nigerian banks are currently intensifying efforts to bolster their capital reserves in response to the Central Bank of Nigeria’s recent announcement on new minimum capital requirements.

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]]> https://nairametrics.com/2024/07/22/stockbrokers-report-high-investor-interest-in-ongoing-banks-rights-issues-and-public-offers/feed/ 0 494083 DMO sold treasury bills valued at N617.92 billion in June- FMDQ report  https://nairametrics.com/2024/07/22/dmo-sold-treasury-bills-valued-at-n617-92-billion-in-june-fmdq-report/ https://nairametrics.com/2024/07/22/dmo-sold-treasury-bills-valued-at-n617-92-billion-in-june-fmdq-report/#respond Mon, 22 Jul 2024 09:06:54 +0000 https://nairametrics.com/?p=494066 The Debt Management Office (DMO) sold Treasury Bills (T.bills) valued at N617.92 billion across its auctions in June 2024. 

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]]> https://nairametrics.com/2024/07/22/dmo-sold-treasury-bills-valued-at-n617-92-billion-in-june-fmdq-report/feed/ 0 494066 Analysts’ project naira to stabilize between N1,423.26/$ and N1,550/$ by year-end 2024 https://nairametrics.com/2024/07/20/analysts-project-naira-to-stabilize-between-n1423-26-and-n1550-by-year-end-2024/ https://nairametrics.com/2024/07/20/analysts-project-naira-to-stabilize-between-n1423-26-and-n1550-by-year-end-2024/#respond Sat, 20 Jul 2024 10:24:22 +0000 https://nairametrics.com/?p=493939 Financial analysts at United Capital Plc have forecasted that the exchange rate will stabilize, trending between N1,423.26/$ and N1,550/$ by the end of 2024.

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]]> https://nairametrics.com/2024/07/20/analysts-project-naira-to-stabilize-between-n1423-26-and-n1550-by-year-end-2024/feed/ 0 493939 Eterna Plc appoints Okechukwu Ashiegbu as Chief Operating Officer  https://nairametrics.com/2024/07/19/eterna-plc-appoints-okechukwu-ashiegbu-as-chief-operating-officer/ https://nairametrics.com/2024/07/19/eterna-plc-appoints-okechukwu-ashiegbu-as-chief-operating-officer/#respond Fri, 19 Jul 2024 16:45:37 +0000 https://nairametrics.com/?p=493878 The Board of Eterna Plc has appointed Mr. Okechukwu Ashiegbu as Executive Director/Chief Operating Officer and Mrs. Bunmi Agagu-Adu as Executive Director of the company. 

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]]> https://nairametrics.com/2024/07/19/eterna-plc-appoints-okechukwu-ashiegbu-as-chief-operating-officer/feed/ 0 493878 Shareholders condemn FG’s 50% windfall tax on banks’ forex gains  https://nairametrics.com/2024/07/19/shareholders-condemn-fgs-50-windfall-tax-on-banks-forex-gains/ https://nairametrics.com/2024/07/19/shareholders-condemn-fgs-50-windfall-tax-on-banks-forex-gains/#comments Fri, 19 Jul 2024 09:41:46 +0000 https://nairametrics.com/?p=493826 The New Dimension Shareholders Association of Nigeria has strongly criticized the Federal Government's decision to impose a 50% windfall tax on banks due to their foreign exchange gains.  

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]]> https://nairametrics.com/2024/07/19/shareholders-condemn-fgs-50-windfall-tax-on-banks-forex-gains/feed/ 1 493826 FX spot market drops by 41.17% to $6.72 billion turnover in June – FMDQ report https://nairametrics.com/2024/07/19/fx-spot-market-drops-by-41-17-to-6-72-billion-turnover-in-june-fmdq-report/ https://nairametrics.com/2024/07/19/fx-spot-market-drops-by-41-17-to-6-72-billion-turnover-in-june-fmdq-report/#respond Fri, 19 Jul 2024 09:23:35 +0000 https://nairametrics.com/?p=493821 Spot FX market turnover was $6.72 billion (N10.01 trillion) in June 2024, representing a 41.17% ($4.70 billion) a Month-on-month (MoM) decrease from the turnover recorded in May 2024 ($11.42 billion)

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]]> https://nairametrics.com/2024/07/19/fx-spot-market-drops-by-41-17-to-6-72-billion-turnover-in-june-fmdq-report/feed/ 0 493821 Access Bank secures $50 million from British International Investment as part of $295 million loan package to aid SMEs https://nairametrics.com/2024/07/17/access-bank-secures-50-million-from-british-international-investment-as-part-of-295-million-loan-package-to-aid-smes/ https://nairametrics.com/2024/07/17/access-bank-secures-50-million-from-british-international-investment-as-part-of-295-million-loan-package-to-aid-smes/#respond Wed, 17 Jul 2024 06:47:58 +0000 https://nairametrics.com/?p=493613 This move is expected to provide these SMEs with essential working capital and enhance their resilience amid Nigeria's most severe economic crisis in a generation.

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]]> https://nairametrics.com/2024/07/17/access-bank-secures-50-million-from-british-international-investment-as-part-of-295-million-loan-package-to-aid-smes/feed/ 0 493613 Top Nigerian insurance firms pay N40.439 billion in claims in Q1 2024  https://nairametrics.com/2024/07/17/top-nigerian-insurance-firms-pay-n40-439-billion-in-claims-in-q1-2024/ https://nairametrics.com/2024/07/17/top-nigerian-insurance-firms-pay-n40-439-billion-in-claims-in-q1-2024/#respond Wed, 17 Jul 2024 05:18:12 +0000 https://nairametrics.com/?p=493594 Leading insurance companies in Nigeria disbursed N40.439 billion in claims during the first quarter of 2024, compared to N33.869 billion in the same period of 2023, reflecting a growth of 19.40%.  

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]]> https://nairametrics.com/2024/07/17/top-nigerian-insurance-firms-pay-n40-439-billion-in-claims-in-q1-2024/feed/ 0 493594 Access Bank raises N442 billion through syndicated Tier II Facility  https://nairametrics.com/2024/07/16/access-bank-raises-n442-billion-through-syndicated-tier-ii-facility/ https://nairametrics.com/2024/07/16/access-bank-raises-n442-billion-through-syndicated-tier-ii-facility/#respond Tue, 16 Jul 2024 16:05:48 +0000 https://nairametrics.com/?p=493576 Access Bank has collaborated with the Dutch Entrepreneurial Development Bank (FMO) to sign a syndicate Tier II Facility agreement valued at $295 million (approximately N442,500,000,000). 

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]]> https://nairametrics.com/2024/07/16/access-bank-raises-n442-billion-through-syndicated-tier-ii-facility/feed/ 0 493576 AXA Mansard to pay shareholders total dividend of N3.6 billion for FY 2023  https://nairametrics.com/2024/07/16/axa-mansard-to-pay-shareholders-total-dividend-of-n3-6-billion-for-fy-2023/ https://nairametrics.com/2024/07/16/axa-mansard-to-pay-shareholders-total-dividend-of-n3-6-billion-for-fy-2023/#respond Tue, 16 Jul 2024 09:24:19 +0000 https://nairametrics.com/?p=493503 Shareholders of AXA Mansard Plc will receive a total dividend of N3.6 billion for the financial year ended December 2023, representing a total dividend of 40 kobo per share declared by the group. 

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]]> https://nairametrics.com/2024/07/16/axa-mansard-to-pay-shareholders-total-dividend-of-n3-6-billion-for-fy-2023/feed/ 0 493503 GTCO Plc opens public offer to raise N400.5 billion  https://nairametrics.com/2024/07/15/gtco-plc-opens-public-offer-to-raise-n400-5-billion/ https://nairametrics.com/2024/07/15/gtco-plc-opens-public-offer-to-raise-n400-5-billion/#comments Mon, 15 Jul 2024 18:24:47 +0000 https://nairametrics.com/?p=493476 Guaranty Trust Holding Company plc today announced the opening of its offer for a subscription of 9,000,000,000 ordinary shares of 50 kobo each at N44.50 per ordinary share. 

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]]> https://nairametrics.com/2024/07/15/gtco-plc-opens-public-offer-to-raise-n400-5-billion/feed/ 1 493476 Infinity Trust Mortgage Bank appoints Ngozi Chukwu as Acting Managing Director/CEO  https://nairametrics.com/2024/07/15/infinity-trust-mortgage-bank-appoints-ngozi-chukwu-as-acting-managing-director-ceo/ https://nairametrics.com/2024/07/15/infinity-trust-mortgage-bank-appoints-ngozi-chukwu-as-acting-managing-director-ceo/#respond Mon, 15 Jul 2024 13:33:16 +0000 https://nairametrics.com/?p=493431 The Board of Directors of Infinity Trust Mortgage Bank Plc has announced the appointment of Mrs Ngozi Chukwu as the Acting Managing Director/Chief Executive Officer to steer the affairs of the bank. 

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]]> https://nairametrics.com/2024/07/15/infinity-trust-mortgage-bank-appoints-ngozi-chukwu-as-acting-managing-director-ceo/feed/ 0 493431 Banks’ credits to private sector rises by 66% to N74.31 trillion  https://nairametrics.com/2024/07/15/banks-credits-to-private-sector-rises-by-66-to-n74-31-trillion/ https://nairametrics.com/2024/07/15/banks-credits-to-private-sector-rises-by-66-to-n74-31-trillion/#respond Mon, 15 Jul 2024 12:02:58 +0000 https://nairametrics.com/?p=493416 Nigerian banks have generated approximately N30 trillion in new loans and support for the private sector over one year period, demonstrating their pivotal role in the country's economic renewal efforts. 

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]]> https://nairametrics.com/2024/07/15/banks-credits-to-private-sector-rises-by-66-to-n74-31-trillion/feed/ 0 493416 NGX lists Wema Bank’s right issue of 8.572 billion shares on its platform   https://nairametrics.com/2024/07/15/ngx-lists-wema-banks-right-issue-of-8-572-billion-shares-on-its-platform/ https://nairametrics.com/2024/07/15/ngx-lists-wema-banks-right-issue-of-8-572-billion-shares-on-its-platform/#respond Mon, 15 Jul 2024 09:59:23 +0000 https://nairametrics.com/?p=493384 The Nigerian Exchange Limited has admitted Wema Bank Plc’s Rights Issue of 8.572 billion ordinary Shares of 50 Kobo each at N4.66 per Share on the Daily Official List of NGX. 

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]]> https://nairametrics.com/2024/07/15/ngx-lists-wema-banks-right-issue-of-8-572-billion-shares-on-its-platform/feed/ 0 493384 Nigeria’s N18 trillion revenue projections under threat amidst declining oil output and rising debt – Muda Yusuf https://nairametrics.com/2024/07/13/nigerias-n18-trillion-revenue-projections-under-threat-amidst-declining-oil-output-and-rising-debt-muda-yusuf/ https://nairametrics.com/2024/07/13/nigerias-n18-trillion-revenue-projections-under-threat-amidst-declining-oil-output-and-rising-debt-muda-yusuf/#respond Sat, 13 Jul 2024 14:13:24 +0000 https://nairametrics.com/?p=493253 Dr. Muda Yusuf, Founder, Centre for the promotion of Private Enterprise, Immediate Past Director General, Lagos Chamber of Commerce and Industry (LCCI) has said that the country’s projected revenue of approximately N18 trillion for the 2024 budge appears under threat due to declining oil output and growing debt. 

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]]> https://nairametrics.com/2024/07/13/nigerias-n18-trillion-revenue-projections-under-threat-amidst-declining-oil-output-and-rising-debt-muda-yusuf/feed/ 0 493253 Analysts forecast private consumption in Nigeria to fall by 2.5% in 2024  https://nairametrics.com/2024/07/13/analysts-forecast-private-consumption-in-nigeria-to-fall-by-2-5-in-2024/ https://nairametrics.com/2024/07/13/analysts-forecast-private-consumption-in-nigeria-to-fall-by-2-5-in-2024/#respond Sat, 13 Jul 2024 08:51:45 +0000 https://nairametrics.com/?p=493232 Research analysts at BMI, a Fitch Solutions company, have projected that private consumption in Nigeria will fall by 2.5% in 2024.  

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]]> https://nairametrics.com/2024/07/13/analysts-forecast-private-consumption-in-nigeria-to-fall-by-2-5-in-2024/feed/ 0 493232 SEC approves NGX investment platform to enhance public offerings, rights issues in Nigerian capital market https://nairametrics.com/2024/07/12/sec-approves-ngx-investment-platform-to-enhance-public-offerings-rights-issues-in-nigerian-capital-market/ https://nairametrics.com/2024/07/12/sec-approves-ngx-investment-platform-to-enhance-public-offerings-rights-issues-in-nigerian-capital-market/#comments Fri, 12 Jul 2024 11:12:45 +0000 https://nairametrics.com/?p=493173 The Securities and Exchange Commission (SEC) has approved the Nigerian Exchange Group investment digital platform- ‘NGX Invest’, designed to streamline Public Offerings and Rights Issues in the Nigerian capital market.

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]]> https://nairametrics.com/2024/07/12/sec-approves-ngx-investment-platform-to-enhance-public-offerings-rights-issues-in-nigerian-capital-market/feed/ 1 493173 Investment tribunal has resolved over 480 capital market disputes worth N868 billion – Amos Azi  https://nairametrics.com/2024/07/12/investment-tribunal-has-resolved-over-480-capital-market-disputes-worth-n868-billion-amos-azi/ https://nairametrics.com/2024/07/12/investment-tribunal-has-resolved-over-480-capital-market-disputes-worth-n868-billion-amos-azi/#respond Fri, 12 Jul 2024 08:19:21 +0000 https://nairametrics.com/?p=493135 Chairman of the Investments and Securities Tribunal (IST), Mr. Amos Azi has disclosed that the tribunal has so far given judgment on over 480 capital market disputes worth over N868 billion. 

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]]> https://nairametrics.com/2024/07/12/investment-tribunal-has-resolved-over-480-capital-market-disputes-worth-n868-billion-amos-azi/feed/ 0 493135 Tranex Plc shareholders approve increase in share capital to N498.15 million https://nairametrics.com/2024/07/11/tranex-plc-shareholders-approve-increase-in-share-capital-to-n498-15-million/ https://nairametrics.com/2024/07/11/tranex-plc-shareholders-approve-increase-in-share-capital-to-n498-15-million/#respond Thu, 11 Jul 2024 16:15:04 +0000 https://nairametrics.com/?p=493102 Shareholders of Trans-Nationwide Express (Tranex) Plc have approved an increase in the company's share capital from N249,075,038.50 to N498,150,077.00.  

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]]> https://nairametrics.com/2024/07/11/tranex-plc-shareholders-approve-increase-in-share-capital-to-n498-15-million/feed/ 0 493102 NGX suspends eight companies for default in filing audited 2023 financial statements https://nairametrics.com/2024/07/10/ngx-suspends-eight-companies-for-default-in-filing-audited-2023-financial-statements/ https://nairametrics.com/2024/07/10/ngx-suspends-eight-companies-for-default-in-filing-audited-2023-financial-statements/#respond Wed, 10 Jul 2024 09:40:17 +0000 https://nairametrics.com/?p=492965 The Nigerian Exchange Limited (NGX) has notified the investing public of the suspension of trading in the shares of eight companies quoted on its platform.

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]]> https://nairametrics.com/2024/07/10/ngx-suspends-eight-companies-for-default-in-filing-audited-2023-financial-statements/feed/ 0 492965