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Three financial services regulators in the country have sanctioned 10 of the nation’s lenders to the tune of N2.5bn for committing various market infractions, findings by
Sunday PUNCH have shown.
Specifically, the Central Bank of Nigeria, Securities and Exchange Commission and Financial Reporting Council of Nigeria have sanctioned Guaranty Trust Bank Plc, Zenith Bank Plc, Access Bank Plc, FBN Holdings Plc, FCMB Group and five others for diverse market infractions.
The financial violations range from non-compliance with anti-money laundering procedures, non-compliance with ATM installation procedures, the opening of foreign branches without regulatory approval, and improper handling of customers’ accounts, among others.
EXCLUSIVE: How Kogi Deputy Governor, Onoja Corruptly Acquired Multi-billion Naira Properties In Abuja
Two of the properties are currently being used by Onoja’ nephew identified as Friday Adejoh at Kado area of Abuja
by SaharaReporters, New York
Apr 16, 2021
The Kogi state deputy governor, Edward Onoja has again been caught in a web of controversies regarding his acquisition of multi-billion naira worth of properties in the Federal Capital Territory.
Documents seen by SaharaReporters show that Onoja had acquired several properties whose value run into many billions of naira since he was appointed by Governor Yahaya Bello as his Chief of Staff and later assumed the office of the Deputy Governor of Kogi State in October 2019.
Goddy Egene
Equities investors staked only N9.193 billion on 887.037 million shares in 17,837 deals last week, showing a decline of about 52 per cent compared with N19.039 billion invested in 1.445 billion shares in 17,400 deals the previous week.
The market was bearish as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 0.13 per cent to close at 38,866.39, while market capitalisation closed lower at N20.335 trillion.
The negative performance was unexpected considering the fact that investors are still realigning their portfolios as the end of the earnings season is here, while they take position for the second quarter.
According to analysts, in the midst of this, investors continue to realign their portfolio with eyes on yield movements in the fixed income market and dividend yields, as the market is likely to do well in this quarter and year, being a vaccine year after the extensive damage to man and economies arising from the novel Coronavirus (COVID-19) to driv
The activity level at the Nigerian bourse last week was unimpressive as the volume and value of shares traded declined when compared to the previous week.
Banks Impairment Charges Soar by 113% to N228bn thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.