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NDIC Begins Verification Of Peak Merchant Bank Depositors April 26

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The Nigeria Deposit Insurance Corporation (NDIC) has called on depositors of the defunct Peak Merchant Bank to come for verification for the payment of their insured deposits. The NDIC in a document posted on its official Twitter handle by the Claims Resolution Department of the Corporation, said the verification would commence between April 26 and May 6. The Corporation listed the locations for the exercise to include Eket, Akure, Bonny, and Warri. NDIC said that depositors can also visit the claim’s page on the Corporation’s website on www.ndic.gov.ng for their verification. According to the News Agency of Nigeria (NAN), the purpose of the deposit insurance system was to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution could no longer repay their deposits.he Corporation said that depositors can also send email to its designated email address claimscomplaints@ndic.gov.ng. NDIC guarantees the payment of deposits up to the maxi...
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GTCO input decrease of N214.2 Billion In Pre-tax Profit

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  According to the new report, as of last year, there is a decrease of N214.2 billion in the pre-tax profit of Guaranty Trust Holding Company (GTCO) Plc.  Speaking on the report, there was a decrease of N35.6 billion in the Ghanian sovereign securities, and also at the end of last year, the company records show a decline in the profit before tax from N221.5billion in 2021 to N214billion which make  3.3 percent. According to the company, there is an increase of 4.6 percent in the group's netbook from N1.80 trillion to 1.89 trillion as of last year which make a growth in the investment. According to the report shown, there is also an increase in Deposit liabilities and the total group assets and shareholders' funds. There is a growth in the Capital Adequacy Ratio. According to the Chief Executive Officer Of Guarantee Trust Holding Company, Mr.Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc, Mr. Segun Agbaje, talking about the group res...
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N318.52 Billion Securities Listed On Nigerian Exchange By FG, Lagos,Companies

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The Nigerian Exchange (NGX) recorded a new listing of about N318.52 billion in the first quarter. The new list includes equities, fixed income, mutual funds, and derivatives. The X-Compliance Report of the NGX, which tracks activities at the stock market, showed that the Federal Government listed N11.23 billion in new bonds under its Federal Government of Nigeria Savings Bonds, with maturities ranging between 2024 and 2026. The Lagos State Government issued the only bond by a sub-sovereign entity with its N137.33 billion series 1V, 10-year 13 percent, Fixed Rate Bonds due 2031 under the state’s N500 billion debt issuance program. In the corporate bond segment, several companies listed new securities including the N112.42 billion senior unsecured bond by Dangote Industries Funding Plc and N31.36 billion Sukuk Issuances from Taj Bank and Family Homes under their respective Sukuk Issuance program. Also, FTN Cocoa Processors Plc and Neimeth International Pharmaceuticals Plc undertook suppl...
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