Thursday, October 18, 2018

Tag "JSE"

    Oando shareholders demand Adeosun’s sack

Oando shareholders demand Adeosun’s sack

Shareholders of Oando Plc have demanded the sack of Kemi Adeosun, minister of finance, for allegedly interfering with the stock market.In a statement which Trusted Shareholders Association of Nigeria (TSAN) issued in conjunction with the Proactive Shareholders Association (PSA), the stakeholders accused the minister of shielding Oando from being probed by the Securities and Exchange Commission (SEC).They insisted Adeosun was [...]

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    More trouble as Johannesburg Stock Exchange suspends Oando

More trouble as Johannesburg Stock Exchange suspends Oando

The Johannesburg Stock Exchange (JSE) has suspended trading in shares belonging to Oando Plc. According to a statement issued by JSE’s Sens service on Thursday, Oando's listing was suspended following the review of subsequent correspondence received on October 18 from the Nigerian Stock Exchange and SEC.On Wednesday, the Nigerian Stock Exchange said it followed the directive of the Securities Exchange Commission(NSE) [...]

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    Bruce: NCC fine damaging Nigeria more than MTN

Bruce: NCC fine damaging Nigeria more than MTN

Ben Murray Bruce, chairman senate committee on privatisation, has condemned the N1.04tr ($5.2bn) fine imposed on MTN Nigeria, saying it hurts Nigeria more than the telecommunications firm.The fine imposed by the Nigerian Communications Commission (NCC) was referred to by the senator as “probably the most damaging action ever taken against Nigeria's drive for Foreign Direct Investment”.“MTN is not without fault [...]

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    JSE suspends MTN shares after meltdown

JSE suspends MTN shares after meltdown

The Johannesburg Stock Exchange (JSE) has suspended trading in MTN group’s shares, following a loss of N1.048 trillion in its market worth after the Nigerian Communications Commission (NCC) N1.04tr fine.MTN was fined on N1.04tr for failure to disconnect 5.1 million unregistered subscribers within the stipulated deadline.Immediately after the fine, MTN stock took a red turn, the company experiencing over 12 percent [...]

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    MTN shares hit 7-year low after N1.04trn fine

MTN shares hit 7-year low after N1.04trn fine

MTN Group, one of the largest telecommunications company in Africa, has experienced a further decline in its shares, which have now hit the biggest three-day drop in seven years.MTN’s shares plunged about 19 percent this week in Johannesburg, leaving the company valued at about $21 billion (288 billion rand), which represents a loss of about $2 billion worth in less than 72 hours.The [...]

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    ‘Impossible. MTN cannot pay N1.04trn NCC fine’

‘Impossible. MTN cannot pay N1.04trn NCC fine’

It is impossible for MTN Nigeria to pay the N1.04 trillion fine it incurred from the Nigerian Communications Commission (NCC) for alleged breach of SIM registration rules, TheCable has been told.On Monday, Umar Danbatta, chief executive officer of NCC, approved punitive sanctions totalling N1.04 trillion ($5.2bn) against MTN Nigeria for SIM registration breach.The sanction, which is the largest in Nigeria’s [...]

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Exchange Rates

October 15, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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