The Naira yesterday depreciated to N362.03 per dollar in the Investors and Exporters (I&E) window. Data from FMDQ showed that the indicative exchange rate for the window rose to N362.03 per dollar from N361.87 per dollar on Tuesday translating to 16 kobo depreciation of the naira. Despite the depreciation, the volume of dollars traded rose by 70 percent. The volume increased to $224.84 million from $131.99 million on Tuesday. However, the ...

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Heritage Capital Markets ltd notes the suspension by the Securities and Exchange Commission along with its directors and sponsored individuals regarding the unauthorized sale of shares and refusal to cooperate with SEC’s directive. On the 7th of December 2016, we wrote SEC to intimate them that we have complied with their directives even if we disagreed with their judgment. We sent in a reminder on 15th December 2016, since we did not...

Shareholders have reacted sharply to the Central Bank of Nigeria (CBN)’s order on the suspension of MTN Group’s dividend payment from its Nigerian subsidiary, MTN Nigeria, over an alleged illegal repatriation of funds to South Africa. The shareholders, who spoke to The Guardian, yesterday, faulted the move, insisting that dividend that has been declared must be paid. The South African telecoms giant in a quarterly update to its ...

The Institute of Chartered Accountants of Nigeria (ICAN) Political Ambassador, Hon. Odeneye  Olusegun, has urged the Federal Government to introduce interest free loan scheme in microfinance scheme for young graduates who are into vocations through the establishment of Graduate Internship Scheme (GIS) . Odeneye who is representing Ijebu Central Federal Constituency, comprising of Ijebu Ode, Odogbolu and Ijebu North-East, made the call ...