Zenith International Bank on Wednesday dominated the activity chart on the nation’s bourse, accounting for 64.04 percent of the total volume of shares traded.
The News Agency of Nigeria (NAN) reports that the bank sold 288.27 million shares valued at N6.68 billion.
Consequently, investors bought and sold 450.14 million shares worth N9.39 billion achieved in 2,858 deals, representing an increase of 200.79 percent.
This was in contrast with a turnover of 149.65 million shares valued at N2.79 billion transacted in 3,063 deals on Tuesday.
Further analysis of the activity chart shows that FBN Holdings came with an exchange of N40.95 million shares worth N303.49 million.
Guaranty Trust Bank traded 33.74 million shares valued at N1.26 billion, while FCMB Group transacted 11.24 million shares worth N18.56 million.
Access Bank sold a total of 9.39 million shares valued at N74.14 million.
However, the market indices recorded marginal loss, dropping by 0.14 percent due to price depreciation.
Specifically, the All-Share Index dipped 45.73 points or 0.14 percent to close at 32,108.30 against 32,154.03 recorded on Tuesday.
Also, the market capitalization which opened at N11.738 trillion shed N16 billion or 0.14 percent to close at N11.722 trillion.
Seplat topped the losers’ chart, dropping by N2 to close at N638 per share.
Lafarge Africa trailed with a loss of N1.70 to close at N15.70, Presco declined by N1.25 to close at N64.50 per share.
Dangote Sugar Refinery depreciated by 45k to close at N13, while Guaranty Trust Bank shed 25k to close at N37.05 per share.
Conversely, Nigerian Breweries led the gainers’ table, growing by 50k to close at N81.50 per share.
Fidson followed with a gain of 40k to close at N4.90, while Redstar appreciated by 30k to close at N4.50 per share.
United Bank for Africa added 20k to close at N8, while Zenith Bank increased by 15k to close at N24 per share.
Heirs Holdings Signs $600 million Loans With Afrexim Bank, To Scale Its Energy Investments
As a further demonstration of the African Export-Import Bank’s (“Afrexim”) mandate to facilitate the growth of intra-Africa trade and support the development of African businesses, Afrexim today, signed financing facilities totalling US$600 million with the Heirs Holdings Group, a pan-African proprietary investment holding company.
Heirs Holdings has significant investments across Africa, in the financial services, resources, real estate and hospitality and power sectors. The facilities will further support the Group’s power, oil and gas strategy, as it positions itself as an African leader in integrated natural resources. The signing ceremony took place at the Afrexim Intra-Africa Trade Conference taking place in Cairo, Egypt.
The proceeds of the facilities will assist the Heirs Holdings Group vision of creating a dynamic resource based division, focused on ensuring value creation occurs on the African continent and that value chains are developed, that directly benefit the broader African economy and consumer.
Commenting at the ceremony, Dr. Benedict Oramah, President of Afrexim who signed on behalf of the Bank, stated that the investment by Heirs Holdings would play a key role in addressing some of the fundamental challenges that have affected the power and energy sectors in Africa. He stated that “A world class energy sector is fundamental to the sustainable growth of businesses in Africa. If we do not deal with these basic matters, growth of trade and exports will always be limited”.
Mr. Tony Elumelu, the Chairman of Heirs Holdings, commented that “We are delighted to be partnering with Afrexim. The Bank continues to play a critical role in the economic and social development of the continent. Together, we illustrate that Africa can create world class institutions, which are capable of successfully making the long-term investments necessary for Africa’s economic transformation and catalyse the enabling environment that will unleash Africa’s potential”.
UBA Academy Gets CIBN Accreditation for Excellence in Training, Capacity Building
In recognition of its high standard, quality of human resources development, training and capacity building, The Chartered Institute of Bankers of Nigeria(CIBN) has certified and awarded UBA Academy the certificate of accreditation in line with the Central Bank of Nigeria’s Competency Framework for the banking industry .
UBA Academy, the dedicated learning and development centre of the Pan African financial institution, United Bank for Africa (UBA) Plc, was accorded the new recognition of excellence at a ceremony presided over by the President/Chairman of Council of the institute, Dr. Uche Olowu in Lagos on Thursday.
According to the president of the institute, UBA Academy was conferred with the new status having met the rigorous standards set for the delivery of their suites of programmes by the Institute.
The certification follows rigorous assessment exercise carried out by the institute’s Capacity Building Committee, the accreditation agency under the competency framework for the country’s banking and finance industry instituted by the Central Bank of Nigeria.
“This Accreditation is an affirmation that UBA Academy has adopted and complied with the minimum assessment standards for programmes run by the organisation, which have gained a label of recognition and distinction,” Olowu said.
According to him the accreditation of UBA Academy would enable its graduates to be eligible for exemptions from various subjects in the banking professional examinations thereby facilitating their completion of the Chartered Banker examination. “This will not only enable them comply with the provisions of the Competency Framework for the banking industry, it will go a long way in the strengthening of the intellectual resources and capabilities available in their institutions,” he concluded.
Speaking at the ceremony, the Bank’s Group Head Human Resources, Mrs Patricia Aderibigbe, while appreciating the recognition conferred on the UBA Academy, said the academy has already embarked on training for the future with digitisation of its training programmes and modules.
“With Ignite, UBA has taken training into the future as we believe that the only way to get the best results and continually stay ahead of the curve is to continually sharpen our most important asset – our people, using mobile technology,” Aderibigbe said.
Aderibigbe promised that UBA Academy will continuously seek improvement in ensuring that it serves the needs of industry in a changing banking industry.
Union Bank Shines At Sustainability, Enterprise And Responsibility Awards (SERAs)
Union Bank has won the Best Company in Environmental Excellence Award and the peoples choice Award for the Most Outstanding Company in CSR/Sustainability’at the 2018 Sustainability, Enterprise and Responsibility Awards (SERAs). The awards were presented at the SERAS ceremony which took place recently at the MUSON center in Lagos.
Following an extensive vetting process that included an on-site inspection of applicants’ Corporate Social Responsibility (CSR) and sustainability projects and initiatives, Union Bank was nominated across seven award categories including The SERAs Innovation Prize, Best Company in Education and Best Company in Sustainability Reporting.
Commenting on the two awards received by the Bank, Ogochukwu Ekezie-Ekaidem, Head Corporate Communication, and Marketing at Union Bank said:
“Corporate citizenship is a core pillar of our brand and business strategy. We are committed to being a sustainability champion in Nigeria and we are always improving our business operations, social engagement and innovation practices to ensure beyond compliance, we are leading the charge to deliver a sustainable future for Nigeria. We thank the SERAS team and all members of the public who recognise the work we are doing.”
Now in its 12th year, SERAs is an annual project organized by TruContact CSR, which aims to promote and raise awareness about the roles organizations to play with an emphasis on their responsibility towards stakeholders and the social development of Africa. The theme for this year’s edition was ‘Poverty Eradication through sustainability: Turning Challenges into opportunities’.
As part of its Citizenship and Sustainability efforts, Union Bank represents Nigeria on the global financial inclusion working group at the World Economic Forum. The bank is a member of the Business Call to Action (BCtA) group and United Nations Global Compact (UNGC) and has recently published its first UNGC Communication of Progress report.
Union Bank also publishes an annual Citizenship, Sustainability and Innovation report which highlights its strategic approach, initiatives and impact made in these areas within the last year.
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