Business

Agusto upgrades Bank of Industry to ‘Aaa’, with a stable outlook

Agusto & Co. has upgraded the rating assigned to the Bank of Industry Limited (BOI) to ‘Aaa’. The assigned rating reflects the Bank’s strategic role and enhanced capabilities in implementing the Federal Government of Nigeria’s (FGN) economic recovery and growth plan as well as the country’s industrial revolution plan. The rating, however, expires on 30 […]

Business

Nestle S.A acquires more of Nestle Nigeria shares to consolidate ownership position

Nestle S.A majority shareholder in Nestle Nigeria Plc, has continued to acquire more shares to further consolidate its position in the company in Nigeria. The transaction considered as an insider dealing which was reported to the Nigerian Exchange Limited took place on Tuesday, June 22. About N176million was spent to purchase 125,463 Ordinary shares of […]

Business

FIC markets record N66.5trn investment in 4 months

The Fixed Income and Currencies (FIC) markets, where primarily short-term yield instruments are traded, attracted N66.5trillion investments from investors, especially banks in the first four months in 2021. The value of investment recorded in the market in the review period is five times bigger than Nigeria’s 2021 budget of N13trillion. Transaction in Foreign Exchange (FX) […]

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Skye Bank: The vindication of NDIC

“Bridge Bank” and other resolution options utilized by the Nigeria Deposit Insurance Corporation (NDIC) in the course of its over 31 years of operation in Nigeria in the resolution of failing or failed insured financial institution has significantly contributed to maintaining public confidence and stability of the banking system with minimum disruption to the payment […]

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