alpha10 - Alpha10 Group

06 Jun

NAIRA’S OMISSION FROM IMF’S EXCHANGE RATE LISTING: IMPLICATIONS AND SOLUTIONS

June 6, 2024
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On June 4, 2024, the Nigerian Naira faced a significant setback as it was excluded from the International Monetary Fund's (IMF) Representative Exchange Rates for Selected Currencies list. This exclusion has raised...

05 Jun

News

HERITAGE BANK: LICENSE REVOCATION, CHALLENGES, AND LOAN REPAYMENT

June 5, 2024
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On June 3, 2024, the Central Bank of Nigeria (CBN) took a significant step by revoking the banking license of Heritage Bank Plc. Heritage Bank, founded in the 1970s as Societe Generale...

15 May

Market insights, News

NIGERIA’S SEC INTRODUCES NEW RULES FOR PRIVATE COMPANIES’ SECURITIES ISSUANCE

May 15, 2024
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The Securities and Exchange Commission (SEC) in Nigeria has recently introduced strict regulations to govern the issuance and allotment of securities by private companies. The Commission said the rules were made...

13 May

Market insights, News

UNDERSTANDING NIGERIA’S NEW 0.5% CYBERSECURITY LEVY: IMPLEMENTATION AND IMPLICATION

May 31, 2024
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On May 6, 2024, the Central Bank of Nigeria (CBN) released a circular requiring Banks and Other Financial Institutions to initiate deductions for a cybersecurity levy. This is coming after the National...

29 Jan

Market insights

A new horizon for pension as ARM Pensions and Access Holdings agree to a merger

January 29, 2024
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In a groundbreaking move set to redefine the landscape of the pension industry, Access Holdings has successfully acquired a controlling stake in ARM Pensions, creating a formidable alliance that promises substantial benefits...

29 Jan

Market insights

NNPC borrows $1.036 billion to acquire 20% stake in Dangote Refinery

January 29, 2024
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The Nigerian National Petroleum Company (NNPC) Ltd has acquired a 20% stake in Dangote refinery for $2.76 billion through a $1.036 funding from Lekki Refinery Funding Limited of which $1 billion was...

29 Jan

News

CNG buses intervention to slash transport fare by over 50% – Mohammed Idris

January 29, 2024
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The Minister of Information and National Orientation, Mohammed Idris, has announced that the Presidential Initiative to deploy Compressed Natural Gas (CNG) mass transit buses is anticipated to lead to a reduction of...

23 Jan

News

Looted funds and Nigeria’s public accountability gaps

January 29, 2024
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Nigeria grapples with economic distress, desperately needing funds for obligations, yet ironically experiencing a windfall. Notably, $332.4 million from Abacha loots and €6,324,627 recovered globally, according to former Justice Minister Abubakar Malami.

23 Jan

News

Wema Bank’s Rights Issue and Share Price Rally: Rewarding Investor Confidence

January 29, 2024
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In December 2023, Wema Bank started a substantial rights issue, offering 8,572,103,573 ordinary shares at N4.66 per share, based on a two-for-three ratio for existing shareholders as of September 28, 2023.

23 Jan

Market insights

FMDQ Exchange Admits Chapel Hill Denham Series 9 Nigeria Infrastructure Debt Fund on its Platform

January 29, 2024
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FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”), a wholly owned subsidiary of FMDQ Group PLC (“FMDQ Group”), is Nigeria’s premier securities exchange, committed to providing a world-class platform for the...