Ensure Insure Plc. Is The 32nd Security Available To Trade On The Nasd Otc Market

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The securities of Ensure Insurance Plc have been admitted to trade on the NASD OTC market. The company’s securities were introduced by Chapel Hill Denham Securities Limited.

Ensure Insurance Plc has issued and fully paid up 3.75 billion ordinary shares at a nominal value of ₦0.50 per share. All participating Institutions are encouraged to inform their clients of this development. The Secretaries/Registrar is GTL Registrars Limited and demateralisation can start immediately.

Digital Channels Aid 70% Deposit Growth At UBA

  • Bank pioneers email banking in Nigeria

United Bank for Africa (UBA) is profiting from its huge investments in technology, as its various digital channels currently aid 70 per cent of incoming transactions at the bank.

Besides, the bank, which claimed to have over 10 million accounts in its 19 branches across Africa, informed that outflow transactions is over 80 per cent, aided still by the digital channels, which include the Automated Teller Machines (ATM); Point of Sales (PoS) terminals, Nigeria Inter-Bank Settlement Scheme (NIBSS) Instant Payment, Internet and mobile banking, among others. Read more

Members Of MAN Plans To List Shares On NSE

Director General, Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir (left); Chairman, Economic Policy Committee, MAN, R.I Odiah,; Vice President, Multinational, MAN, Christos Giannopoulos; Chief Executive Officer, the Nigerian Stock Exchange (NSE), Oscar N. Onyema; President, MAN, Dr. Frank S. Udemba Jacobs; Vice President (Lagos Zone) & Honourary National Treasurer, MAN, I.A Agoye; and Chairman, Finance & Establishment Committee, MAN, Francis Meshioye, at the closing ceremony at the Exchange, on Wednesday.
Director General, Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir (left); Chairman, Economic Policy Committee, MAN, R.I Odiah,; Vice President, Multinational, MAN, Christos Giannopoulos; Chief Executive Officer, the Nigerian Stock Exchange (NSE), Oscar N. Onyema; President, MAN, Dr. Frank S. Udemba Jacobs; Vice President (Lagos Zone) & Honourary National Treasurer, MAN, I.A Agoye; and Chairman, Finance & Establishment Committee, MAN, Francis Meshioye, at the closing ceremony at the Exchange, on Wednesday.

Manufacturers Association of Nigeria (MAN) has disclosed plans by the members to list their share on the Nigerian Stock Exchange (NSE).Already, three members of the group are currently working out modalities with the exchange to fasttrack every listing requirement.

The Director General of the association, Segun Ajayi-Kadir, during the Association’s Bell Riging Ceremony at the exchange in Lagos on Wednesday assured that more members had also indicated interest to list their shares on the market. Read more

Weak Nigerian Economy Will Endanger Fiscal Consolidation – Fitch

Weaker growth will make it harder to contain Nigeria’s rising debt burden, Fitch Ratings says. Fitch has substantially cut its growth forecasts for Nigeria to reflect a weak performance in 1H16 and continuing policy challenges, including implementing the new foreign-exchange regime and delays in the disbursement of the 2016 budget.

We expect real GDP to contract by 1% in 2016, compared with our earlier forecast of a 1.5% expansion. We expect a limited bounce back and forecast a recovery to 2.6% next year, with downside risks if dollar liquidity remains tight. The medium-term growth outlook remains significantly lower than the 5.6% growth seen in 2010-14.  Read more

PZ Nigeria’s Assets Hit N74.4b

The Chairman, PZ Cussons Nigeria Plc, Chief Kola  Jamodu yesterday said the company’s balance sheet remained strong with total assets of N74.4 billion compared to N67.4billion it was last year.

The chairman who spoke during the firm’s ‘Annual Report and Accounts 2016’ in Abuja, stated that overall, the company did well to hold its share of the market. Read more