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Issue N3.24tr Bonds In One Year Archives

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Eniola Olayemi

 

 

Federal and state governments borrowed N3.24 trillion in local and international bond issuances last year, it was learnt yesterday.

According to Nigerian Stock Exchange (NSE) Chief Executive Officer (CEO) Oscar Onyema, the governments sourced N1.286 trillion in new debts through the local capital market last year.

The Federal Government also raised $5.36 billion (about N1.95 trillion) in Eurobonds.

Addressing stakeholders on the activities at the capital market yesterday at the Exchange in Lagos, Onyema said the Federal Government dominated the debt capital market in 2018, raising N1.16 trillion to finance fiscal and infrastructural deficits. State Governments also raised N125.59 billion in new debts during the year.

According to him, the new debt issues buoyed the fixed-income market capitalisation by 11.75 percent to N10.17 trillion in 2018 as against N9.10 trillion in 2017.

The governments crowded the private sector during the period as companies only raised a total of N31.47 billion.

“The market also witnessed the listing of a N100 billion Sukuk designed to finance critical road infrastructure across the country,” Onyema said.

The total number of listed bonds on the NSE rose from 85 bonds in 2017 to 108 bonds in 2018. The increase helped to moderate the decline in number of quoted equities from 172 in 2017 to 169 in 2018. With Exchange Traded Products unchanged at nine, the number of listed securities at the NSE increased from 266 in 2017 to 286 in 2018.

The total market capitalisation of the Exchange however declined from N22.72 trillion in 2017 to N21.90 trillion in 2018.

The decline was attributed to a drop in total market value of quoted equities from N13.62 trillion in 2017 to N11.73 trillion in 2018.

 

 

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Zenith Bank Says It Now Has best IT infrastructure After Successful Upgrade, Commends Customers

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Zenith Bank Says It Now Has best IT infrastructure After Successful Upgrade, Commends Customers

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Zenith Bank Plc has announced that it now boasts the best technology infrastructure in the banking industry, positioning itself to provide an exceptional customer experience and superior service delivery moving forward.

This upgrade follows a recent comprehensive technology enhancement.

The bank expressed its heartfelt gratitude to customers for their support and patience throughout the upgrade process, while also extending apologies for any inconveniences experienced during this time.

This announcement was made in a social media post on Wednesday, signed by Dame Dr. Adaora Umeoji, OON, the Group Managing Director/CEO. 

In her message, the GMD/CEO emphasized the bank’s commitment to delivering an unparalleled service experience, stating, “We undertook this upgrade to ensure we can offer our customers the best possible service.”

Umeoji pledged that Zenith Bank will continue to innovate, ensuring that customer needs are met swiftly, safely, and conveniently.

The post read in part: “On behalf of the Board, Management, and Staff of Zenith Bank PLC, I would like to thank you for your patience and support during our IT infrastructure migration to a new and more robust operating system. 

“We are truly grateful for the trust and confidence you have placed in us. The primary reason for undertaking this extensive endeavor was to better position Zenith Bank PLC for improved service delivery to all our valued customers and to create memorable banking experiences at all our touchpoints.

“While I regret the inconveniences and challenges you faced during and immediately after our migration, I am pleased to inform you that Zenith Bank PLC now has the best technology infrastructure in the industry. We are committed to ensuring you experience superior service delivery going forward.

“Rest assured, you remain our top priority, and Zenith Bank will continue to innovate and offer value-added products and services to meet all your banking needs quickly, safely, and conveniently.”

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Polaris Bank Clinches “Best Mobile App” Award at Digital Jurist Awards 2024

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Polaris Bank Clinches “Best Mobile App” Award at Digital Jurist Awards 2024

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Polaris Bank’s commitment to digital innovation and excellence has once again been recognized, as the Bank was awarded the prestigious “Best Mobile App” award for its renowned digital banking platform, VULTe, at the Digital Jurist Awards held October 31 at Eko Hotel in Victoria Island, Lagos.

This honor comes less than a week after Polaris Bank was named Nigeria’s Digital Bank of the Year for the fourth consecutive year, further solidifying its status as a leader in Nigeria’s digital banking landscape.

At the event, attended by representatives from all nominated companies, Polaris Bank’s VULTe app stood out among its peers, winning the hearts of users and the recognition of industry experts.

The Digital Jurist Awards Committee had nominated Polaris Bank in three categories: Best Website, Best Web Portal, and Best Mobile App.

The Bank’s innovative approach and customer-centric digital solutions have made it a formidable contender in each category, with VULTe’s win affirming the Bank’s continued drive to redefine digital banking in Nigeria.

Commenting on the the award, Polaris Bank’s Managing Director/CEO, Kayode Lawal expressed gratitude for the recognition and reiterated the Bank’s commitment to providing seamless, reliable, and secure digital solutions.

“This award continuously shows our dedication to delivering the best digital experiences to our customers. We will continue to push the boundaries of innovation to ensure that our platforms remain intuitive, accessible, and impactful,” he said.

Polaris Bank’s VULTe app has gained widespread acclaim for its user-friendly design, robust security features, and diverse functionalities, enabling customers to manage their banking needs from the comfort of their devices.

Winning the “Best Mobile App” award is yet another milestone in the Bank’s digital journey, reinforcing its position as a digital pioneer in Nigeria’s banking sector.

The Bank extends its gratitude to the Digital Jurist Awards Committee and its loyal customers for their continued trust and support.

Polaris Bank is committed to advancing digital banking in Nigeria, creating convenient, modern, and secure solutions that cater to the evolving needs of its customers.

Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2024,2023, 2022 and 2021 and MSME Bank of the Year 2022, 2023 and 2024 in Business Day’s Banks and Other Financial Institutions (BAFI) Awards.

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Access Bank Wins Best Digital, Best Website at 2024 Digital Jurist Awards

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Access Bank Wins Best Digital, Best Website at 2024 Digital Jurist Awards

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Bank PLC has been named the 2024 Best Digital Award Winner in the Commercial Banks Category at the Digital Jurist Awards, organized by Phillips Consulting (pcl.).

L-R: Adebowale Shonekan, Head, Network Communications (Group & Subsidiaries), Access Bank Plc; Chukwudi Amadi, Team Lead, Digital Communications, Access Holdings Plc; Ezinne Nwene, Team Member, Digital Communications, Access Holdings Plc, receiving the Best Digital Commercial Bank award from Abbas Babagana, Chief Technical Officer, Federal Ministry of Communications & Digital Economy at the Digital Jurist Awards held in Lagos… recently.

In addition to this top honour, the Bank also secured the Best Website Award, achieving an impressive score of 201 points for its engaging and user-friendly digital experience. Access Bank’s cumulative score of 380 points reflects its excellence across digital touchpoints, including its website, web portal, mobile app, and social media.Commenting on the recognition, Amaechi Okobi, Chief Communications Officer of Access Holdings PLC, said, “We are honoured to receive the Best Digital and Best Website Awards at this year’s Digital Jurist Awards.

At Access, our focus on digital innovation is driven by our commitment to deliver seamless, secure, and customer-centric solutions across all touchpoints.

This recognition validates our ongoing efforts to enhance our digital platforms, making financial services more accessible and efficient for our customers.

We thank Phillips Consulting for recognising our efforts and will continue to raise the bar in digital excellence.”Phillips Consulting has long served as a development partner to Nigerian financial institutions and other organisations with an online presence.

Leveraging its proprietary Digital Jurist platform, the firm has conducted assessments of digital touchpoints in various sectors, from financial services and insurance to telecommunications and government agencies, over the past 17 years.

Originally established as Web Jurist®, the platform was reimagined as Digital Jurist to assess new and diversified digital channels in the evolving digital economy. Digital Jurist’s evaluation framework examines a range of factors, including user experience, accessibility, performance, functionality, security, customer service, support, marketing, and content engagement across digital platforms.

These awards reinforce Access Bank’s leadership in digital banking, adding to recent accolades including 2024 Best Digital Bank and Best Mobile Banking App by World Finance, Best Mobile Banking App and Best Digital Bank by The Digital Banker Awards, and Best Digital Banking Initiative at the Global Retail Banking Innovation Awards 2024.

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