Omegascorpi [Beta] » Future of Lagos http://omegascorpi.com Company Profiles,Interviews,News and Beyond Fri, 20 Jan 2012 21:44:00 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 Firing Of The Heads Of Intercontinental, Oceanic, Finbank, Afribank, and Union Banks http://omegascorpi.com/2009/firing-of-the-heads-of-intercontinental-oceanic-finbank-afribank-and-union-banks/ http://omegascorpi.com/2009/firing-of-the-heads-of-intercontinental-oceanic-finbank-afribank-and-union-banks/#comments Sat, 22 Aug 2009 15:22:09 +0000 tape http://omegascorpi.com/?p=209 1. NSE suspended trading the five bank’s shares. The decision will be reviewed in 2 weeks.
2. According to Renaissance Capital, these banks were systematically important with more than 5% of assets and deposits in the Nigerian banking system.
3. Guardian reported on Monday that 8 foreign investors were ready to take control of the 5 banks.
4. The CBN’s audit of all banks should completed by mid-September. 5 other banks passed the audit, according to Renaissance Capital. They include First Bank of Nigeria Plc, the nation’s largest lender, Diamond Bank Plc, Guaranty Trust Bank Plc, Sterling Bank Plc and United Bank for Africa Plc.
5. 14 banks are yet to be audited.
6. According to Tunde Lemo, CBN’s deputy governor, the fired executives may face prosecution.
7. ThisDay newspaper reported that the CBN may end up injecting up to N1trillion into these banks.
8. Renaissance Capital upgraded its recommendation on Zenith Bank Plc to “buy” from “hold” and suspended ratings on three other lenders that failed a central bank audit. Ratings were suspended on Intercontinental Bank Plc, Union Bank of Nigeria Plc and Oceanic Bank Plc.
9. CBN said it will guarantee the foreign loans of the 5 banks. Officials from CBN will visit London soon to “explain its actions and dialogue with investors and foreign correspondent banks.
10. Zenith, along with First Bank, Access Bank Nigeria Plc, First City Monument Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc are RenCap’s top picks because they “show up well” in terms of the central bank’s requirements of transparency and liquidity, Lagos-based RenCap analyst Kato Mukuru wrote in the note.

Source

Related articles by Zemanta
Reblog this post [with Zemanta]
]]> http://omegascorpi.com/2009/firing-of-the-heads-of-intercontinental-oceanic-finbank-afribank-and-union-banks/feed/ 0 Best Performing Stocks on the Nigerian Stock Exchange http://omegascorpi.com/2008/best-performing-stocks-on-the-nigerian-stock-exchange/ http://omegascorpi.com/2008/best-performing-stocks-on-the-nigerian-stock-exchange/#comments Thu, 04 Dec 2008 15:34:16 +0000 tape http://africaincorp.net/cms/sub/wp6/?p=95 [Click on the post title to read full article]

Stock Appreciation
ALEX 421.60%
ECOBANK 251.70%
FOOTWEAR 215.88%
INTBREW 175.09%
FIRSTALUM 109.21%
DEAPCAP 106.16%
EQUITYASUR 105.69%
MOBIL 88.44%
ETERNAOIL 85.12%
STUDPRESS 80.59%
BOCGAS 78.63%
STACO 65.43%
CHEVRON 50.61%
AGLEVENT 49.53%
TRIPPLEG 48.28%
AP 35.26%
AFPRINT 31.94%
CILEASING 30.59%
TOTAL 25.38%
JOSBREW 22.41%

Nigerian Stock Market

[Source]

]]> http://omegascorpi.com/2008/best-performing-stocks-on-the-nigerian-stock-exchange/feed/ 0