United Bank for Africa (UBA) Plc last Friday announced a recovery from the N6.8 billion loss in 2011 to a profit N54.8 billion in 2012. The company also recommended a dividend payment of 50 kobo per share for the year. UBA had in 2011 posted a loss on account of […]
Author: InvestAdvocate
NDIC tackles legal challenges to banks’ liquidation
Excessive litigation and the lack of understanding of the legal role of the Nigeria Deposit Insurance Corporation as liquidator have been identified as the major challenges hampering the effective settlement of depositors. A statement by the corporation on Friday quoted the Managing Director/Chief Executive, NDIC, Alhaji Umaru Ibrahim, as saying […]
CBN sells N157bn T-bills at lower yields
The Central Bank of Nigeria sold N157.05bn ($994.62m) worth of treasury bills on Wednesday at yields lower than its previous auction on the back of strong demand from offshore investors and local fund managers. The CBN sold N22.05bn in 91-day notes at a return of 10.30 per cent, marginally lower […]
