Tag Archives: NDIC

Transaction on the floor of the Nigerian Stock Exchange (NSE) Friday, witnessed a turnaround from the decrease on Thursday as key market indicators regains its momentums with 0.25 increase, bringing the year to date return to 42.14 percent. However, Unilever Nigeria Plc that is currently seeking over N58 Billion from existing shareholders through right issue, topped the gainers table for …

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The Nigeria Deposit Insurance Corporation (NDIC) has secured a landmark judgement to the tune of N556,493,034.16 (Five Hundred and Fifty-Six Million, Four Hundred and Ninety-Three Thousand, Thirty-Four Naira and Sixteen Kobo Only) in favour of depositors of Lead Merchant Bank Limited in-liquidation. According to a statement which was made available to Financial Edge on Wednesday, the judgement was recently delivered …

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Every Nigerian bank is currently healthy and on sound footing, the Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has indicated,. The NDIC Boss stated this on Thursday, reassuring members of the public to ignore rumours being circulated that some banks were in financial distress. NDIC position was made public in a statement signed by its spokesman, Mr …

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The House ofRepresentatives Committee on Insurance and Actuarial Matter has commended the NigerianDeposit Insurance Corporation (NDIC) during the presentation of 2017 budgetdefence, as part of the committee oversight function. The Managing Director/Chief Executive Alhaji Umaru Ibrahim successfully defended theCorporation’s proposed 2017 budget began by calling the attention of theHonourable members to the delay in the approval of 2016 budget whichcontributed …

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Naira loses 85% of value in two years – CBN …enjoins risk managers to be on top of their job As Nigerians continued to grapple with the hash economic realities bedeviling the domestic economy, the Central Bank of Nigeria has disclosed that the naira has lost about 85 per cent of its value in the last two years and that …

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UBA CFO, Finance Team Shines at CFO Awards Pan-African financial services group, United Bank for Africa Plc repeated the outstanding feat, it recorded last year at the 2nd edition of Nigeria CFO awards, but took it a notch higher when its Group Chief Financial Officer (GCFO) and the Finance Team bagged the treble at the awards night held on November …

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Market Growth: SEC, NERDC signs MoU on introduction of Capital Market Studies The Securities and Exchange Commission (SEC) is set to achieve another milestone by infusing capital market studies (CMS) into schools curriculum with the signing of a Memorandum of Understanding (MoU) with the Nigerian Educational Research and Development Council (NERDC). This was done weekend at the Commission’s head office …

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Manufacturers lost N500bn to CBN’s forex policy – MAN The Manufacturers Association of Nigeria on Thursday said Central Bank of Nigeria’s flexible exchange rate policy had culminated to N500bn loss for manufacturers. According to agency report, the Chairman, MAN, Apapa Branch, Mr. Babatunde Odunayo, made the assertion during the branch’s 45th Annual General Meeting in Lagos. He said that Letters of …

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NDIC Decry Okereke Onyuike’s merger call with AMCON FRIDAY EKEOBA The management of Nigerian Deposit Insurance Corporation (NDIC) has decried the merger call by the erstwhile Director General of the Nigerian Stock Exchange (NSE), Prof Ndi Okereke-Onyuike. The NDIC said the organisation mandate and scope of operations are far beyond such narrow scope as was ignorantly painted by Okereke Onyuike, …

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