Nigeria bank fixed deposit rate
September 10, 2019 by admin
Filed under Nigeria Stock Exchange
The economy in Nigerian is unfavourable to many Nigerias but there are many investments that a common man in Nigeria can take advantage of.
Fixed deposit can be a robust investment for long term or short term profit. See the list below for the fixed deposit interest rates among Nigeria banks.
Fixed Deposits Interest Rates of Nigerian Banks
April 05, 2019
S/N | NAME OF BANK | Demand Deposit | Savings Deposit | Time Deposit |
Ave. Int Rate | Ave. Int Rate | Ave. Int Rate | ||
1 | Access Bank | 0.90 | 4.05 | 11.61 |
2 | Citi Bank Nigeria | 1.50 | 4.10 | 6.60 |
3 | Coronation Merchant Bank | – | – | 13.67 |
4 | Diamond Bank | 0.36 | 4.20 | 6.80 |
5 | Ecobank Nigeria | 0.01 | 4.05 | 8.86 |
6 | FCMB | 0.47 | 4.20 | 10.50 |
7 | Fidelity Bank | 3.00 | 4.05 | 12.00 |
8 | First Bank of Nigeria | 0.00 | 4.05 | 7.50 |
9 | FBN Merchant Bank | – | – | 9.20 |
10 | FSDH Merchant Bank | – | – | 9.55 |
11 | Guaranty Trust Bank | 0.47 | 4.20 | 8.18 |
12 | Heritage Bank | 0.00 | 4.20 | 13.88 |
13 | Keystone Bank Ltd | 0.41 | 4.20 | 14.04 |
14 | Nova Merchant Bank | – | – | 13.18 |
15 | Providus Bank | 0.00 | 4.20 | 9.05 |
16 | Rand Merchant Bank Nig. Ltd | 0.00 | 0.00 | 15.08 |
17 | Polaris Bank | – | 4.20 | 8.48 |
18 | Stanbic IBTC Bank | 0.63 | 4.20 | 7.68 |
19 | Standard Chartered Bank | 0.00 | 4.22 | 7.24 |
20 | Sterling Bank | 0.00 | 4.05 | 10.17 |
21 | SunTrust Bank | 0.00 | 2.00 | 9.94 |
22 | Union Bank | 0.50 | 4.20 | 10.06 |
23 | United Bank for Africa | 0.02 | 4.20 | 8.15 |
24 | Unity Bank | 0.50 | 4.20 | 16.00 |
25 | Wema Bank | 1.85 | 4.20 | 8.75 |
26 | Zenith Bank | 0.47 | 4.05 | 8.63 |
Nigeria Stock Exchange suspends 11 companies due to reoccurring violations
July 3, 2019 by admin
Filed under Nigeria Stock Exchange
The NSE requires all listed companies to report their earnings on time and follow regulations in other to protect investors money. These companies violated the exchange policies, as a result, their shares have been suspended from trading.
The list of eleven which included seven insurance companies and four others appear to have been found wanting in certain respects and The Exchange moved to wield the big stick.
The companies are Conoil Plc, Guinea Insurance Plc, Lasaco Assurance Plc, Niger Insurance Plc, Goldlink Insurance Plc, FTN Cocoa Processors Plc, Universal Insurance Plc, R.T. Briscoe (Nigeria) Plc, Royal Exchange Plc, and Resort Savings & Loans Plc.
According to Mr Godstime Iwenekhai, NSE Head, Listings Regulation Department, “
“If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) Send to the Issuer a “Second Filing Deficiency Notification” within two business days after the end of the Cure Period.
“The exchange will after the Cure suspend trading in the Issuer’s securities, and notify the Securities and Exchange Commission and the market within 24 hours of the suspension.
“In accordance with the rules set forth above, the suspension of the above-listed companies will only be lifted upon the submission of the relevant accounts and provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange”.
Femi Otedola sold controlling shares in Forte Oil to focus on power generating plant.
June 19, 2019 by admin
Filed under Nigeria Stock Exchange

The chairman of Forte Oil, Femi Otedola a farewell message to his successor. “A few years ago, my team and I embarked on an arduous task of transforming a moribund petroleum marketing business, African Petroleum Plc (formerly British Petroleum) into Forte Oil Plc; a leading integrated solutions provider with solid footprints in downstream petroleum marketing, Upstream Services and Power Generation and one in which we built intrinsic value to the benefits of our shareholders. In line with my principle of business focus, we have divested from our marketing and upstream businesses and shall from now on focus and consolidate on the gains of our power generation business, Geregu Power Plc. We wish our successors the very best and urge them to build on our legacies which have been established since 1964 ?? …F.Ote?”, he said.
The plan to sell his control shares of Forte oil began in December 2018. He sold his stake to focus on the recently acquired Amperion power distribution company.
Amperion Power plant was acquired for $132 million dollars. It has
According to
“Forte Oil Plc hereby notifies the Nigerian Stock Exchange, Securities and Exchange Commission, shareholders and the investing community that its majority shareholder, Mr Femi Otedola, has reached an agreement with the Prudent Energy team, investing through Ignite Investments and Commodities Limited, to divest of his full 75 per cent direct and indirect shareholding in the company’s downstream business,”.
Airtel Africa looking to raise $750 m via IPO through London Stock Exchange
June 6, 2019 by admin
Filed under Nigeria Stock Exchange

Airtel Africa telecommunication company is planning to go public and the company will list on the London Stock Exchange.
“The offer is targeted to raise $750 million (plus primary greenshoe option of up to 15 percent) and will be used to reduce net debt,” Bharti Airtel said in a regulatory filing.
It added that Airtel Africa intends to proceed with an initial public offering for admission and listing of its shares on the main market of the London Stock Exchange (premium segment).
Additionally, Airtel Africa is also considering listing its shares on the Nigerian Stock Exchange.
MTN Nigerian Stock Exchange stock IPO update
May 20, 2019 by admin
Filed under Nigeria Stock Exchange

MTN Nigeria Communications Plc: Listing by Introduction of the Entire Issued 20,354,513,050 Ordinary Shares of 2 Kobo Each at N90 per Share on the Premium Board of The Nigerian Stock Exchange
The entire issued 20,354,513,050 ordinary shares of MTN Nigeria Communications Plc (MTN Nigeria or the Company) was listed by Introduction on the Premium Board of The Nigerian Stock Exchange (The Exchange) on, Thursday, 16 May 2019.
The listing is following The Exchange’s approval of the application to list the Company’s entire issued 20,354,513,050 ordinary shares of N0.02 each at N90 per share. The trading symbol of MTN Nigeria is MTNN.
Nestle Nigeria PLC posted a record revenue of 71 billion
May 8, 2019 by admin
Filed under Nigeria Stock Exchange

Nestle Nigeria PLC reported its first-quarter
The total profit came in at N 12.8 Billion beating the estimate of N 8.6 Billion from the previous year. The company recorded a gross profit of N31, 468,870 for the year 2019; marketing and distribution expenses came in at -10,371,484.

Focusing on creating demand and strengthening the brand’s loyalty program is a major concern to Nestle. According to Nestle PLX, “The company also continued to focus on Creating Shared Value for society and its shareholders by delivering high quality nutritious products to consumers and contributing to the growth of the local economy through local sourcing and increasing access to clean drinking water in the communities where it operates”.
Mr. Mauricio Alarcon, Managing Director & CEO of Nestlé Nigeria Plc said, “We are pleased with the sustained growth of our company, the loyalty of our consumers and the discipline and dedication of our people to provide tastier and healthier foods and beverages”.
Outlook:
“Looking forward to the rest of 2019, we are optimistic that our current business model will keep delivering satisfactory results to our shareholders and to society in line with our Creating Shared Value principle. Providing high-quality and affordable nutritious products that meet the needs and preferences of our consumers will remain our priority as we help build thriving, resilient communities through sustainable local sourcing and continuous product innovation’ the CEO said during the earnings report.
Nestle stock price has been up more than 100
The above statement is in relation to the Q1 2019 report, the Q2 report is due on July 30, 2019.
Food products business is a booming business in Nigeria. Nestle manufactures hydrolyzed plant protein mix and other food products based on its local agricultural raw material.
Nestle food product brands
Maggi
Nestle Golden Morn
Nestle Ideal
Nestle Nido
Milo nestle
Nescafe
Nestle Kit Kat
Nestle Carnation milk
Nestle Gloria
These products are selling at a record high in markets around the world. Nestlé is making money from direct sales, wholesales directly to the reseller, distribution to hotels, and other companies.

This statement for the period ending on March 31, 2019. The company reported N 19,122,202 profit before tax and it did not declare any new dividend price at the time of this report.

Operation result shows that Nestle has a positive quarter. 2019 reported number was up by 66% compared to the reported comprehensive income for the year 2018.
It’s a good practice for directors to be invested in companies that they are associated with. This will ensure that they make the right decisions for stakeholders because their money is also on the line. According to the recent report, only one director owns shares in Nestel company.

Share repurchasing program
Companies usually buy their own shares in other to reduce the number of outstanding shares. A company can boost investor’s confidence by buying back it own stocks. This process allows the company to become its own investor; as a result, it reduces the number of outstanding shares. This can also improve the company’s earnings because only a few are left to claim the company’s earnings. Nestle reported that it didn’t buyback any shares this past quarter.
Nestle’s Asset declaration

Nestle’s Debt information
The company did not reveal much about its overall debt. It only shared little nformation about its short term debt obligation and this cannot be factored into how the company stands financially.
Nestle Nigeria PLC dividend declaration
Dividend unchanged, the company will stick to the 3.85 % dividend payout. Nestle cleared the dividend on March 4, 2019. Payments will be made to investors who are invested in Nestle stocks by May 10, 2019. The pa

Expressposting Nestle review
Nestle did not give enough information on how each of their brand product is performing on the market. They did not provide future guidance on what investors should expect for the next fiscal year. They did not discuss cutting cost or mention plans that will add value to the share price.
No innovations; Nestle does not have any new product on the pipeline. The stock price is still cheap, the company earned a total profit of N 12.8 billion and they are expected to earn more for the next quarter. The stock has been down about 1
Jumia is preparing to list on New York Stock Exchange for $1.1 Billion locking out Nigerian Investors
April 10, 2019 by admin
Filed under Nigeria Stock Exchange

The company is expected to go public to raise about $250 million to fund its business. The company is a market hub for online selling and buying. They started in Nigeria and they can be compared to Amazon and Alibaba. Jumia is the place to go to buy household products like technology devices, sneakers, home goods, toilet papers, sneakers and they offer services like hotel bookings, food deliveries, and other things.
The company is valued at $1.1 billion dollars. ” The filing documents show that the company‘s operating losses increased from $173-million in 2017 to $190-million in 2018. On the other hand, turnover increased at a faster rate, suggesting the company is heading in the direction of profitability” – MSN.
If the company lists on