Stakeholders laud institute for improving ethics in banking

Some stakeholders in the banking industry on Tuesday commended the Chartered Institute of Bankers of Nigeria (CIBN) for improving professional ethics in the banking sector. The stakeholders, who spoke at the institute’s breakfast meeting in Lagos, expressed gladness that it was able to reduce abuses and unethical behaviors in the sector. TBI Africa reports that CIBN, headed by Prof. Olusegun Ajibola, has trained more than 124 thousand staff of Deposit Money Banks (DMBs), microfinance banks and regulatory bodies. The institute has in the last 11 months accredited six Banking Academies…

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NSE trading nosedive by 0.04% after two days growth

Transactions on the Nigerian Stock Exchange (NSE) on Wednesday nosedived by 0.04 per cent after appreciating for two-consecutive days. TBI Africa reports that Seplat, which joined the Premium Board, led the laggards’ table with a loss of N23.90 to close at N702 per share. It was trailed by International Breweries with N1.05 to close at N48.95, while Lafarge Africa was down by 95k to close at N45.65 per share. Nigerian Breweries declined by 90k to close at N126, while Union Bank of Nigeria shed 30k to close at N6 per…

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Naira dips against dollar at investors’ window

The Naira on Wednesday depreciated to N360.16 to the dollar at the investor’s window, losing 70kobo from N360.09 traded on Tuesday. Trading at the parallel market saw the naira closed at N362 to the dollar, while the Pound Sterling and the Euro closed at N514 and N445, respectively. At the Bureau De Change (BDC) window, the naira traded at N362 to the dollar, while the Pound Sterling and the Euro closed at N514 and N445, respectively. The Nigerian currency traded at N305.60 to the dollar at the official Central Bank…

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SEC Considers 10-year Capital Market Plan at Expanded C’ttee Meeting

The Securities and Exchange Commission (SEC) yesterday said it would hold deeper discussions on the implementation of the 10-year capital market master plan as well as other initiatives for Nigeria’s capital market with stakeholders at its forthcoming Capital Market Committee (CMC). A statement from the SEC in Abuja explained that the CMC meeting scheduled to hold in Lagos would be expanded to accommodate a diverse group of relevant stakeholders in Nigeria’s capital market. According to it, the 10-year master plan for the Nigerian capital market is expected to refocus the…

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Facebook shares rise after Zuckerberg’s testimony before congressional committee

Facebook shares rose sharply, registering its biggest gain in nearly two years, as chief executive Mark Zuckerberg answered questions from U.S. senators on how Facebook might be regulated more-closely. According to media report on Wednesday, Zuckerberg apologized for the issues that Facebook caused, from data privacy to foreign attempts to influence U.S. elections. But he avoided any specific talk about new laws. “I’ll have my team follow up with you so that way we can have this discussion across the different categories where I think this discussion needs to happen,”…

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FTSE falls flat as Russian sanctions bite

The imposition of US sanctions on Russian companies helped contribute to weakness in the mining sector and saw the FTSE 100 erase earlier gains to close more or less flat. Russian steel giant Evraz (EVR), down 15.8% to 379.2p, and gold miner Polymetal, off 16.8% to 602.6p, were among those hit. Miner Glencore (GLEN) fell 3.7% to 338.19p and Fresnillo (FRES) retreated 1.9% to £12.19. Peers Randgold Resources (RRS) and Antofagasta (ANTO) also followed the sector lower. MID AND LARGE CAP RISERS AND FALLERS Rolls-Royce (RR.) accelerated 1.3% to 879.6p after signing…

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