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Cornerstone Insurance Profit Surges on Investment Income
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Cornerstone Insurance Plc deployed money in fixed income securities, an asset allocation policy that yielded fruit as investment income added impetus to profit, but...
Tesla Shares Surge after Announcement of Five-For-One Stock Split
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Tesla stock jumped as much as 6 percent in after-hours trading Tuesday after the company announced a five-for-one stock split, set to go into...
NDIC Explains N2bn Intervention in Fortis Microfinance Bank
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The Nigeria Deposit Insurance Corporation (NDIC) says that it has adhered to statutory guidelines on the distress resolution and liquidation of Fortis Microfinance Bank...
Northern Nigeria Flour Mill Records First Profit in Six Years on Border Closure
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Northern Nigeria Flour Mills (NNFM) Plc has recorded its first profit in six years overcoming the headwinds caused by weak consumer spending, foreign exchange...
FX, Fixed Income, Derivatives Trading Surges 39% on OMO
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Secondary market trading in Foreign Exchange (FX), fixed income products and Money Market Derivatives in Nigeria surged by 39 percent in June on the...
Russia Registers World’s First Covid-19 Vaccine
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President Vladimir Putin said Russia has registered its first Covid-19 vaccine, calling it an effective protection against the deadly pathogen, and disclosed that one...
Equities Rise, Brent Jumps Above $45 on Slowing U.S. Coronavirus Cases
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U.S. index futures advanced with equities worldwide after President Donald Trump said he’s considering a tax cut on capital gains. Brent crude rose above $45...
Nigeria Pension Funds Reallocate Assets as Entire Yield Curve Falls Below Inflation
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Nigeria Pension Funds boosted holdings of longer dated Federal Government of Nigeria (FGN) bonds as the entire yield curve fell below inflation.
In finance, the...
Axa Mansard Divests Pensions Subsidiary to Verod Group
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AXA Mansard Insurance plc, has announced the divestment from its subsidiary, AXA Mansard Pensions Limited to Verod Group.
After obtaining the Shareholder’s approval at the...
 FCMB CEO Admits N573m Wrongly Posted to Prophet Omale’s Account
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The Salami-led panel probing allegations of corruption against suspended EFCC Chairman, Ibrahim Magu, was stunned on Thursday when the MD/CEO of FCMB, Adam Nuru,...