The Central Bank of Nigeria says the passage of the Cybercrime Prohibition and Prevention Act has given Deposit Money Banks and other financial institutions legal backing to punish perpetrators of electronic fraud especially in the financial services industry. The CBN therefore advised banks to rely on the provisions of the […]
Capital Market
Dangote gains N15.6bn in 24 hours, now worth N3tn
While some of the world’s richest people lost a sum of $182bn (N35.85tn) over the past week, Nigerian billionaire, Alhaji Aliko Dangote, and 10 others made money amid deepening global market rout. Dangote, who is President of Dangote Group, posted a $79.2m (N15.6bn) gain from Thursday to Friday, according to […]
NSE Sheds N283.56 Billion on Sell-Offs to Close Week
By InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) market capitalisation on Friday shed N283.56 billion to close the week at N10.24 trillion, while the all-share index (ASI) closed 29,878.33 basis points; both dipping 2.69 percent. Although investors’ reaction to shares of lender, Guaranty Trust Bank Plc’s performance was somewhat muted, […]
