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List of Dividends announced so far in 2020 (May)

List of Dividends announced so far in 2020 (May)



Dividends announced on the Nigerian stock exchange

As audited accounts start to trickle in, companies will propose dividend payments to their shareholders as recommended by their respective boards of directors. It is also important to track these announcements to know who is eligible to collect the dividend, when it will be approved and when it will be paid. Dividend payment also affects share prices.

This page will be updated from time to time.


READ ALSO: Updated: Gender Balance, looking at the board composition of top banks on the NSE


Date Announced – The date the company announced dividends evidenced by a corporate action published on the website of the NSE.

Qualification date – Shareholders who own shares as of this date will receive dividends. If you buy shares and want to receive dividends make sure it is at least three days before this date. Shares get transferred to you on the basis of the T+3 rule (the date you bought plus 3 working days).

GTBank 728 x 90

Payment date – This is when the dividend will be paid to you, either via post (dividend warrants) or direct credit to your bank accounts (e-dividend).

Calculate Dividends

Closure of Register – Only shareholders who own shares listed in their register before this date will be paid dividends.

You can also scroll sideways to view the rest of the columns if using a mobile phone.

READ MORE: How to read stock market tables


2020 Dividends from companies quoted on the Nigerian Stock Exchange

CompanyDPSDate AnnouncedBonusClosure of RegisterAGM DatePayment DateQualification date
Glaxo SmithKilne Consumer Nig. PlcN0.55k22nd May 2020Nil23rd June - 2nd July 202023rd July 202024th July 202022nd June 2020
Airtel Africa0.0313th May 2020Nil6th July 2020Not applicable24th July 2020NA
Caverton Offshore Support Group PlcN0.20k22nd May 2020Nil16th June 202025th June 202025th June 202015th June 2020
Nigerian Breweries Plc (Revised)N1.51k20th May 2020Nil5th-11th March 202023rd June 202024th June 20204th March 2020
BUA CementN1.75k19th May 2020Nil28th Sept - 2nd Oct 202022nd October 202023rd October 202025th September 2020
NASCON Allied Industries PlcN0.40k13th May 2020Nil15th - 16th July 202027th July 202029th July 202014th July 2020
Total Nigeria PlcN6.7113th May 2020Nil5th - 11th June 2020to be announced24hrs after meeting4th June 2020
Cadbury Nigeria PlcN0.49k13th May 2020Nil25th - 29th May 202024th June 202025th June 202022nd May 2020
May and Baker PlcN0.25k13th May 2020Nil27th - 29th May 20204th June 20208th June 202026th May 2020
NPF Microfinance Bank PlcN0.20k11th May 2020Nil17th - 22nd June 202030th June 202030th June 202016th June 2020
Okomu Oil Palm PlcN2.0023rd April2020Nil19th - 22nd May 202028th May 202029th May 202018th May 2020
Lafarge Africa PlcN127th April 2020Nil4th - 8th May 20203rd June 20203rd June 202030th April 2020
Wema Bank PlcN0.04k23rd April 2020Nil7th - 12th May 202018th May 202018th May 20206th May 2020
UAC of Nigeria PlcN0.10k20th April 2020Nil19th - 22nd May 2020to be announcedto be announced18th May 2020
Union bank of NigeriaN0.25k13th April 2020Nil27th - 30th April 20206th May 20206th May 202024th April 2020
FBN HoldingsN0.38k6th April 2020Nil21st - 22nd April 202027th April 202028th April 202020th April 2020
Lafarge Africa PlcN1.00k6th April 2020Nil4th - 8th May 202026th May 202026th May 202030th April 2020
Ikeja Hotel PlcN0.023rd April 2020Nil2nd - 8th July 202030th July 20207th August 20201st July 2020
McNichols Consolidated PlcN0.03k1st April 2020Nil2nd - 8th July 202030th July 20207th August 20201st July 2020
NEM InsuranceN0.15k1st April 2020Nil4th - 8th May 2020to be announcedto be announced30th April 2020
FCMB Group PlcN0.14k31st March 2020Nil15th - 17th April 202028th April 202028th April 202014th April 2020
Cadbury Nig. PlcN0.49k30th March 2020Nil25th - 29th May 2020to be announcedto be announced22nd May 2020
Beta Glass Nigeria PlcN1.67k30th March 2020Nil15th - 19th June 20202nd July 20203rd July 202011th June 2020
Capital Hotel PlcN0.05k26th March 2020Nil20th - 24th April 202027th May 20203rd June 202017th April 2020
Sterling bank PlcN0.03k26th March 2020Nil5th - 8th May 202020th May 202020th May 20204th May 2020
Boc GasesN0.30k26th March 2020Nil8th - 10th June 202025th June 202026th June 20205th June 2020
Fidelity Bank PlcN0.20k23rd March 2020Nil20th - 24th April 202030th April 202030th April 202017th April 2020
Seplat Petroleum Dev. Company Plc0.0523rd March 2020Nil13th May 202028th May 20204th June 202012th May 2020
Julius Berger Nig. PlcN2.75k13th March 20200.0021st to 3rd June 202018th June 202019th June 202029th May 2020
Nigeria Energy Sector Fund (NESF)N75.0010th March 2020Nil20th March 20206th April 202019th March 2020
Access Bank PlcN0.40k6th March 2020Nil15th April 202030th April 202030th April 202014th April 2020
Nestle Nig PlcN45.00k28th February 2020Nil18th - 22nd May 20202nd June 20202nd July 202015th May 2020
Stanbic IBTC Holdings PlcN2.005th March 2020Nil19th - 26th March 202030th June 202018th June 202018th March 2020
Guaranty Trust Bank PlcN2.50k2nd March 2020Nil19th March 202030th March 202030th March 202018th March 2020
United Bank of AfricaN0.80k2nd March 2020Nil16th - 20th March 202027th March 202027th March 202013th March 2020
Transcorp PlcN0.01k28th February 2020Nil18th - 23rd March 202025th March 202027th March 202017th March 2020
MTN Nigeria PlcN4.97k28th February 2020NilFebruary 17, 19008th May 202019th May 202017th april 2020
Transcorp Hotels PlcN0.07k28th February 2020Nil13th-17th March 202024th March 202026th March 202012th March 2020
United Capital PLCN0.50k18th February 2020Nil9th-13th March 202024th March 202026th March 20206th March 2020
Infinity Trust Mortgage Bank PLCN0.035K30th January 2020Nil9th-13th March 20207th May 202014th May 20206th March 2020
Zenith bank PlcN2.50k21st February 2020Nil10th March 202016th March 202016th March 20209th March 2020
Africa Prudential PlcN0.70k25th february 2020Nil9th-13th March 202023rd March 202023rd March 20206th March 2020
Dangote Cement PlcN16.0025th february 2020Nil26th May 202015th June 202016th June 202025th May 2020
Tripple Gee & Company PlcN0.05k8th July 2019Nil2nd-6th September 201916th September 201928th September 201930th August 2019
Presco PlcN2.006th June 2019Nil8th-10th July 201924th July 201929th July 20195th July 2019
C & I Leasing PlcN0.07525th June 2019Nil15th-19th July 201930th July 201931st July 201912th July 2019
NPF Microfinance Bank PlcN0.0525th June 2019Nil8th-12th July 201925th July 201925th July 20195th July 2019
Learn Africa PlcN0.15k2nd July 2019Nil23rd-27th September 201917th October 201918th October 201920th September 2019
Academy Press PlcN0.05k1st Juky 2019Nil5th-9th August 201919th September 201926th September 20192nd August 2019
University Press PlcN0.15k1st July 2019Nil2nd-6th September 201926th September 201926th September 201930th August 2019
Redstar Express PlcN0.43k2nd July 2019Nil17th-19th July 201988th August 201916th July 2019
Veitva Griffin 30 PlcN0.27NilN/AN/A31st May 2019
Vetiva S&P Nig. Sovereign Bond ETFN13.00Nil31st May 2019N/A7th June 2019
Law Union & Rock Insurance PlcN0.029th May 2019Nil3rd - 7th June 201925th June 201926th June 201931st May 2019
NEM InsuranceN0.1330th April 2019Nil3rd - 7th June 201925th June 201925th June 201931st May 2019
Forte OilN1.153rd June 2019Nil4th - 7th June 2019N/A10th june 20193rd June 2019
Smart ProductsN0.1530th April 2019Nil1st - 5th July 201929th August 20195th Septemner 201928th June 2019
AIICO Insurance PlcN0.0616th April 2019Nil10th - 17th May 201920th May 201920th May 2019May 9 2019
Consolidated Hallmark Insurance PlcN0.0223rd April 2019Nil7th - 13th March 2019to be announcedto be announced6th May 2019
FBN HoldingsN0.2612th April 2019Nil24th - 29th April 20193rd May 20196th May 201922nd
Lotus Halal Fixed Income FundN28.00NilN/AN/A12th April 2019
Nigerian Aviation Handling Coy PlcN0.2517th April 2019Nil9th - 11th July 201926th July 201926th July 20198th July 2019
Prestige Assurance PlcN0.0317th April 2019Nil6th - 10th May 2019to be announcedto be announced3rd May 2019
Regency Alliance Insurance PlcN0.0315th April 2019Nil13th - 17th May 201918th June 201919th June 201910th May 2019
Cement Coy. Of Northern Nig. PlcN0.4029th March 2019Nil2nd - 8th July 201925th July 201926th July 20191st July 2019
Dangote Sugar Refinery PlcN1.104th April 2019Nil3rd - 5th June 201918th June 201919th June 201931st May 2019
The Initiates PlcN0.052nd April 2019Nil3rd - 7th June 2019to be announcedto be announced31st May 2019
Aluminium Extrusion Ind. PlcN0.08526th March 2019Nil17th - 21st June 2019to be announcedto be announced14th June 2019
Beta Glass Nigeria PlcN1.3029th March 2019Nil17th - 21st June 20194th July 20195th July 201914th June 2019
UAC of Nigeria PlcN0.6429th March 2019Nil21st - 24th May 201926th June 201927th June 201920th May 2019
Okomu Oil Palm PlcN3.0027th March 2019Nil14th - 17th May 201913th June 201920th June 201913th May 2019
Wema Bank PlcN0.0329th March 2019Nil29th April - 6th May 20198th May 201913th May 201926th April 2019
Berger Paints PlcN0.6519th March 2019Nil29th April - 3rd May 201923rd May 201924th May 201926th April 2019
Caverton Offshore Support Group PlcN0.2529th March 2019Nil8th May 201921st May 201924th May 20197th May 2019
Eterna PlcN0.2529th March 2019Nil14th - 17th May 201913th June 201914th June 201913th May 2019
Infinity Trust Mortgage Bank PlcN0.0329th March 2019Nil25th April - 9th May 201916th May 201923rd May 201924th April 2019
CAP PlcN2.5029th March 2019Nil27th - 31st May 201920th June 201921st June 201924th May 2019
Portland Paints and Products Nig. PlcN0.0528th March 2019Nil6th - 10th May 201930th May 201931st May 20193rd May 2019
Glaxo SmithKilne Consumer Nig. PlcN0.058th March 2019Nil24th April - 6th May 201923rd May 201924th May 201922nd April 2019
Chams PlcN0.034th April 2019Nil18th - 24th April 2019to be announcedto be announced17th April 2019
Fidson Healthcare PlcN0.153rd April 2019Nil18th - 24th April 2019to be announcedto be announced17th April 2019
Capital Hotel PlcN0.052nd April 2019Nil24th - 29th April 2019April 22, 20009th May 201923rd April 2019
May and Baker PlcN0.2029th March 2019Nil23rd - 26th April 201930th May 20193rd June 201918th April 2019
Unilever of Nigeria PlcN1.5029th March 2019Nil15th - 23rd April 20199th May 201910th May 201912th April 2019
Total Nigeria PlcN14.0028th March 2019Nil23rd - 29th April 201927th June 201928th June 201918th April 2019
FCMB Group PlcN0.1429th March 2019Nil12th - 18th April 201926th April 201929th April 201911th April 2019
Fidelity Bank PlcN0.1129th March 2019Nil15th - 19th April 201926th April 201926th April 201912th April 2019
Custodian Investment PlcN0.3521st March 2019Nil12th - 17th April 201924th April 201924th April 201911th April 2019
11 PlcN8.2522nd MarchNil3rd - 10th May 201916th May 201917th May 20192nd May 2019
NASCON Allied Industries PlcN1.0022nd March 2019Nil31st May - 3rd June 201913th June 201917th June 201930th May 2019
Cadbury Nig. PlcN0.2521st March 2019Nil20th - 24th May 201918th June 201919th June 201917th May 2019
Julius Berger Nig. PlcN2.0021st March 2019Nil3rd - 7th June 201920th June 201921st June 201931st May 2019
UBA PlcN0.6515th March 2019Nil3rd - 9th April 201923rd April 201923rd April 20192nd April 2019
Access Bank PlcN0.25k14th March 2019Nil12th April 201925th April 201925th April 201911th April 2019
Stanbic IBTC Holdings PlcN1.50k7th March 2019Nil21st March 201919th June 201920th June 201920th March 2019
Guaranty Trust Bank PlcN2.456th March 2019Nil9th April 201918th April 201918th April 20198th April 2019
Seplat Petroleum Dev. Company PlcUS$0.056th March 2019Nil21st March 201916th May 201923rd May 201920th March 2019
Nestle Nig PlcN38.50k4th March 2019Nil13th - 17th May 201928th May 201929th May 201910th May 2019
McNichols Consolidated PlcN0.05k1st March 2019Nil9th - 15th April 201916th April 201926th April 20198th April 2019
Dangote CementN16.0028th February 2019Nil4th - 10th June 201917th June 201918th June 20193rd June 2019
Africa Prudential PlcN0.50k26th February 2019Nil14th - 20th March 201926th March 201926th March 201913th March 2019
United Capital Plc30kobo21st February 2019Nil14th - 20th March 201928th March 20192nd April 201913th March 2019
Zenith Bank PlcN2.5019th February 2019Nil11th - 15th March 201918th March 201918th March 20198th March 2019
Transnational Corp. of Nig. Plc3k18th February 2019Nil1st - 5th March 201915th March 201919th March 201928th February 2019
Nigerian Breweries PlcN1.83K18th February 2019Nil7th - 13th March 201917th May 201920th May 20196th March 2019
Transcorp Hotel15k15th February 2019Nil28th February - 1 March 201915th March 201919th March 201927th February 2019
Newrest ASL NIG Plc20kNil29th April - 3rd May 201915th May 201916th May 2019
SIAML Pension ETF 40N1.17Nil25th January 2019N/A28TH January 2019

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Nairametrics Research team tracks, collates, maintains and manages a rich database of macro-economic and micro-economic data from Nigeria and Africa. Our analysts share some of the data collated on Nairametrics, using formats such as docs, tables and charts etc. The team also publishes research based analysis as articles on a regular basis.



  1. Azubogu Adaeze Ebele

    March 25, 2019 at 9:21 am

    When is oando paying dividend?

    • Emmanuel Abara Benson

      March 25, 2019 at 9:53 am

      Hello Ebele, how are you?

      Many people are asking the same question. In the meantime, we all wait and see.

  2. Anonymous

    March 25, 2019 at 10:38 am


    • Anietie okon edem

      November 6, 2019 at 6:58 am

      I have not received dividend for over 5 years. Pls what should i do to recover all my arrears.

      • Anonymous

        November 26, 2019 at 11:35 pm

        Process e-dividend and you will always receive it automatically.

      • Anonymous

        November 26, 2019 at 11:37 pm

        Do e-divided na

      • Anonymous

        March 9, 2020 at 10:45 am

        If you haven’t received your dividend. Two things are involved. Either you have not given a mandate for your dividend to be paid into your bank account or you do not have a CSCS Account yet. Locate a Broker so you could be put through.

      • Simon

        March 17, 2020 at 8:04 pm

        Get to your bank and get the mandate form from all your registrars then contact your broker for transfer form then submit transfer form to your broker and mandate form to your bank

      • Tarunkantichakraborty

        April 3, 2020 at 7:34 pm


    • Mark Ani

      March 26, 2020 at 3:01 pm

      What I do to dematerialise my share certificates? Please get me a good stock broking firm with an office in Calabar.

    • Micah Nwaokocha

      March 31, 2020 at 1:34 pm

      When is First Bank Plc paying dividend

      • Anonymous

        April 27, 2020 at 4:25 pm

        28th april

  3. ThankGod Cliff Wosu

    March 25, 2019 at 12:35 pm

    Pls how can i get access to the list of the announced participants

    • Irokanjo chika Fidelis

      April 21, 2020 at 11:57 am

      Those of us who did not receive our dividend warrant from zenith bank because we did not fill the e- mandate form on time, what do we do to get it paid?

      • Anonymous

        April 28, 2020 at 1:16 pm

        Do your E-dividend stuff and /or contact Zenith bank registrar (ie Veritas registrars). Visit the Veritas registrars website for more details and guidance.

  4. Obozuwa

    March 26, 2019 at 8:47 am

    Have not received mine too from Nigerian brewery since last two years

  5. Eden

    March 27, 2019 at 8:40 am

    Yes, this is absolutely a commonly used strategy. Back up the truck whenever the prices of dividend aristocrats are depressed, and reinvest dividends.

  6. Anonymous

    March 27, 2019 at 12:35 pm

    Oando plc. Please remember we invested our money. Kindly pay dividend

    • Adekunle Adenigbagbe

      April 15, 2020 at 2:46 am

      Dear Nairametics. Please i seems not to understand the differences between Closure of registrar and qualification date. Kindly shed more light. Thanks.

  7. Kingso

    March 27, 2019 at 6:25 pm

    When is share price devalued? Is it before or after payment date?

    • Anonymous

      August 22, 2019 at 8:58 am

      Is after payment.

  8. Anonymous

    March 28, 2019 at 12:05 am

    When is GTB paying the final dividend of 2018 FY?

  9. Adeoye David

    March 28, 2019 at 6:07 pm

    ETI had not paid divident for awhile. Why?

    • Ademola

      February 19, 2020 at 1:18 pm

      Ucap’s 50k dividend per share is 22% of my cost per share. I love downtrends & pull backs😎.

      I hope FUGAZ will follow suite…

      • Joseph Okpoye

        April 21, 2020 at 8:32 pm

        Ucap could do better

  10. Okedairo Shefiu Ayodele

    March 29, 2019 at 2:30 pm

    Please I want to be received mail anytime companies want to pay dividends

    • Shefiu Ayodele Okedairo

      March 17, 2020 at 12:34 pm

      Please I want to be receiving email alert whenever companies want to pay dividends

  11. Anonymous

    April 9, 2019 at 10:58 am

    Please what is the easiest way to register for e dividend payments. I have not receive some of my dividend

    • Onome Ohwovoriole

      April 9, 2019 at 11:16 am

      Search for the registrar of the company in question and fill the required e dividend form.

    • david

      September 14, 2019 at 2:47 pm

      talk to your broker to give you dividend mandate form to fill and he will then submit it on your behave to your stock company registrar.

    • Adebayo Olayinka

      March 6, 2020 at 6:00 pm

      How can l get a broker that would advice me on secondary market dangote shares?

  12. Ademola Adejumobi

    April 9, 2019 at 3:23 pm

    Is it true that NSE or whatever body is in charge has lifted ban on payment of dividend by letter till the end of 2019? When is First bank paying dividend?

    • Onome Ohwovoriole

      April 10, 2019 at 4:23 pm

      No it has not. First Bank is yet to release its 2018 full year results. The bank has however promised to do so on or before the 30th of April, 2019.

  13. Dr Ilemobayo Ajimisinmi

    April 10, 2019 at 8:00 am

    Bemused games being played by registrars,cscs,companies, biometrics, account numbers of share holders are in their keep, keep tossing hapless share holders to& fro like a yooyoo?

  14. Ogochukwu

    April 10, 2019 at 10:13 am

    how do i get my dividends from Japaul Oil & Maritime Services Plc, bought their shares in 2007.

    • Onome Ohwovoriole

      April 10, 2019 at 4:21 pm

      Good Afternoon. You would have to contact the company’s registrars to find out if Japaul has paid dividends since then.

  15. Olowookere Philip

    April 10, 2019 at 11:53 am

    Please, can someone tell DAAR Communication to explain why it has refused to pay dividends all these years. This should not be a way rich people should continue to defraud the public. Enough of this 419 by DAAR Communication. By

    • david

      September 14, 2019 at 2:49 pm

      Because they are not making profit all these years. check their balance sheet and see, they are on a losing streak.

  16. Victor Ugwu

    April 10, 2019 at 4:40 pm

    When is First bank holdings declaring their own bonus or divided?

    • Onome Ohwovoriole

      April 10, 2019 at 6:08 pm

      Good Evening. FBN Holdings will release its results on or before the 30th of April, 2019


    April 10, 2019 at 10:12 pm

    When is Japaul Oil and Stanbic IBTC holding their AGM’S.

  18. Akinola-ige abimbola olayemi

    April 11, 2019 at 11:24 am

    Please when is Gtb paying dividend for year 2018

  19. Anonymous

    April 12, 2019 at 8:15 pm

    Good evening ONOME. Pls, what is happening to Courtiville Business Solutions Plc. Is it that they have decided not to be paying dividend to their shareholders after making PAT or what? They should pls let us know…. and also let them know that they should start doing that no matter how small it is..

  20. Anonymous

    April 12, 2019 at 8:20 pm

    Please Nairametrics, when are we expecting dividend payment from Standard Alliance Insurance plc. I thought they said they used 2018 for shares reconstruction and will definitely pay dividend by 2019.

    • Alfred Akuki

      April 15, 2019 at 11:56 am

      The company is yet to release its results for FY2018.

  21. Anonymous

    April 12, 2019 at 8:23 pm

    Pls when is Unity and Union Bank Plc declare dividend?

    • Alfred Akuki

      April 15, 2019 at 11:55 am

      We will let you know once they declare a dividend.

  22. Anonymous

    April 12, 2019 at 8:25 pm

    Pls ONOME, when is Lafarge gonna declare dividend? Reply…

    • Alfred Akuki

      April 15, 2019 at 11:54 am

      Hi, unfortunately, Onome doesn’t work at Lafarge Africa or have such information kindly wait till the company declare a dividend. Once they do we at Nairametrics (including Onome) will be quick to inform you. Thank you.

  23. Anonymous

    April 15, 2019 at 6:45 pm

    Good evening Alfred. Pls why has Courtiville Business Solutions Plc not declared dividend 4 some years now, when and where is their AGM date.

    • Alfred Akuki

      April 16, 2019 at 11:58 am

      A company will only pay dividend when they make money and as for their AGM, once they come out with the information will let you know with an article.

  24. Anonymous

    April 18, 2019 at 7:00 pm

    Good evening Alfred. How many times in a year can a company declare dividend?

    • Emmanuel Abara Benson

      April 18, 2019 at 7:09 pm

      Hi there. Alfred isn’t here right now…

      Note that most Nigerian companies typically pay dividends once every year. Some also do pay what they like to call “bonus dividend”.

      Meanwhile, elsewhere, companies can pay dividends to shareholders every quarter. What this means is that you could get paid four times in a year. But then again, this seldom happens in Nigeria.

      Have a good night.

    • Alfred Akuki

      April 19, 2019 at 4:16 pm

      In addition to Emmanuel said, some companies in Nigeria pay an interim dividend and a final dividend. As for bonus, it is at the company’s discretion.

  25. Akinsola Samuel .O

    April 22, 2019 at 10:55 pm

    Any information on universal insurance company pls.
    May i know the current registrar and the functioning email address?

    • Alfred Akuki

      April 23, 2019 at 2:53 pm

      Hi Akinsola, you will have to contact Universal Insurance directly.

  26. Felicia O. Kalu

    April 23, 2019 at 11:03 am

    invested my money in ubn shares but has not received

  27. Felicia O. Kalu

    April 23, 2019 at 11:13 am

    When will ubn declare it’s dividend like other companies?

    • Alfred Akuki

      April 23, 2019 at 2:52 pm

      Hi Felicia, Union Bank will notify the investing public once they declare a dividend. Though the bank has not declared dividend for long.


    April 24, 2019 at 12:22 pm


  29. Anonymous

    April 26, 2019 at 7:25 am

    Good morning, please where is the location for Aiico insurance AGM?

  30. Felix Offiong

    May 3, 2019 at 11:27 am

    Greatings all! I have NSE stock portfolios online with Nigerian Stockbrokers but dispite submitting the E-DIVIDEN MANDATE forms (Zenith, GTB, Access Bank) . No payment has been made, same with Access-Diamond Banks merger cash consideration. Please does anyone have this experience or solution? Kindly hint. Thanks

    • Felix Offiong

      May 6, 2019 at 6:24 pm

      Thank you so much!

  31. Anonymous

    May 3, 2019 at 11:34 pm

    Hi Felix. Where did you submit your e-dividend mandate form? If it’s @ d bank (ZENITH where I did mine), they scanned the e – dividend mandate forms filled immediately to the registrars & within one week, I got SMS from them. Some registrars even called me to clerify certain things. I suggest you either go do it again @ d your bank or registrar’s offices & make sure all your data are correct. I promise you, you’ll be credited & even with all your outstanding dividend.

    • Felix Offiong

      May 6, 2019 at 6:24 pm

      Thank you so much for.

  32. Anonymous

    May 3, 2019 at 11:37 pm

    Again Felix, Make sure you attach your passport photo..

  33. Felix Offiong

    May 6, 2019 at 6:26 pm

    Am very grateful and I’ll do as you say. Thanks.

    • Me

      July 30, 2019 at 8:29 pm

      It’s commendable that Nairametrics directly responds to comments. Keep it up

      • Alfred Akuki

        July 31, 2019 at 9:39 am

        We make it a priority to do so. Thanks for trust us.

  34. Felix Offiong

    May 6, 2019 at 6:38 pm

    Also please any ideas about the Access-Diamond Merger cash consideration.? The Registrar ( United Securities) said that they have sent the account on the e-mandate details to NIBSS platform for confirmation and that was over a month ago. Up till now, nothing. Wondering if anyone here has received the cash consideration or have similar experience. Please kindly relate. Thank you.

  35. Anonymous

    May 7, 2019 at 9:00 pm

    Hi Mr Felix. Just try do your e – mandate first as I’ve told u. If NIBSS confirms you, UNITED SECURITIES will credit your account for DIAMOND BANK consideration from ACCESS BANK. I still advice you, go to the registrars office if you have time, do your e – mandate & also tell them about the merger cash consideration. If your work does not give u time, or u’re not in LAG, do it @ d bank, call the registrars office, they ‘ll still attend to you OK. Your money is intact. So don’t panic alright..

    • Felix Offiong

      May 9, 2019 at 9:56 pm

      Thanks for the very helpful tips. Be blessed.

  36. Anonymous

    May 7, 2019 at 9:06 pm

    Good evening Alfred and Emmanuel. Pls, has COURTIVILLE BUSINESS SOLUTIONS declared or about to declare dividend? I noticed their shares are going up.

  37. Anonymous

    May 31, 2019 at 10:08 pm

    Lafarge Africa ought to drop their FYE 2018 result today based on their communication to NSE. Is there a reason why the result is not out??

  38. Jacob Aigbokhan

    June 11, 2019 at 6:22 pm

    Please why is Presco’s report not out yet?

  39. Greatwood

    June 12, 2019 at 1:31 am

    Please has anyone heard or received GSK dividend from GTL Registrars?
    GSK had their AGM on 23rd of may and dividend to be paid on 24th of same month but their registrar GTL is neither paying the dividend nor responding to investors email.
    I emailed gtl on 27th of may and days after till today, they dont want to respond to me and they have not paid my dividend.
    Is there any problem?

  40. Anonymous

    June 18, 2019 at 2:17 pm

    Good day, has Honeywell declear Dividend for the year2019?

  41. Anonymous

    June 18, 2019 at 2:26 pm

    Has Wapic declear Dividend for the year 2019 and when and where is the location for AGM?

  42. Martin Ikpong

    June 20, 2019 at 11:49 am

    Please send me the details.

  43. Pa. Olu. Ajayi

    July 3, 2019 at 2:55 am

    Onome, the services, (informative and educative ) being rendered by you and team of Experts on this Nairametrics platform is highly commendable. You should keep it up.

  44. Anonymous

    July 5, 2019 at 3:37 pm

    Please does anyone know if MUTUAL BENEFITS ASSURANCE PLC has declared any dividend for year ended 2018? Please kindly inform.
    Thank you.

  45. Odufeso Olalekan

    July 28, 2019 at 5:32 am

    Good day, the VAT not extended, please how dose it affect investors like me putting token, ist charges from the 5percent or I will b charge separately after 5percent charges? Kindly enlighten me please. Waiting for ur response thanx.

  46. Ola Ilesanmi

    July 30, 2019 at 5:03 pm

    Kindly help me to ask Wema Bank why the dividends of investors are not PAID up till now after a decade and a half year of insolvent
    Ola Ilesanmi

  47. Ola Ilesanmi

    July 30, 2019 at 5:26 pm

    I have a number of shares of NACHO and Legacy Funds but Cornerstone Registrars refused to remit my dividends to my bank account .
    I am aware of formalising e-dividend formalities which I have done as at when it commenced .
    It is equally important to note that same registrar pays my dividends in FCMB , LAFRAGE WAPCO , as well as ancient Skye bank .
    It is absolutely worrisome that the registrars in question don’t pick calls or reply mails put across their portals . They the Registrars in question have been behaving as such when they they were called City Securities , I am a clients to First Registrars , United Securities , Veritas Registrars , African Registrars , GTL Registrars ,Meristem Registrars etcatera who give normal and regular responses as requested .
    Nairametrics , you are wonderful and helpful

    • Alfred Akuki

      July 31, 2019 at 9:37 am

      Hi Ola, sorry for the experience you have had with your registrar. I will advise you to visit their office and get things sorted out.

  48. Ola Ilesanmi

    July 30, 2019 at 5:33 pm

    I made a mistake of name in my last two posts .
    I actually mean CARDINAL STONE REGISTRARS formally called City Securities not Corner Stone
    Please .
    Thanks to Nairameyrics

  49. Ola Ilesanmi

    July 31, 2019 at 11:35 am

    Kindly help me to ask Wema Bank why the dividends of investors are not PSID up till noe after a decade and half year of insolvent
    Ola Ilesanmi

  50. Ola Ilesanmi

    July 31, 2019 at 11:59 am

    Alfred Akuki
    Thanks may God bless you mightily .
    Have I paid for your prompt reply ? No !
    That’s the best modern business methodology to address issues .
    I put this across in order to share my experience with Cardinal Stone Registrars .
    My issues predated era of mandate e-dividend . If not for the interest I have for a few companies I have with cardinal stone registrars , I got things sorted out with cardinal stone registrars after the Securities and Exchange Commission compelled them to do the needful .
    They are recalcitrant and very careless with investors commitment .
    I will not visit them .
    I will drag them to the Securities and Exchange Commission or Investment Tribunal and I will win them with apology from them .
    I certainly owe Naira metrics Ltd a lot of indebtedness of commendable appreciations . Thanks a great deal

    • Alfred Akuki

      July 31, 2019 at 6:05 pm

      Hi Ola, it gives us great joy that we were able to render assistance to you.

      • Soji

        February 25, 2020 at 5:18 pm

        Pls, if I want to know the what of my shaers, how can I go by it? and in case I want to sell it,how do I do it?

  51. Jacob Aigbokhan

    August 3, 2019 at 9:27 pm

    Please presco said they will pay dividend on the 29th and yet I have not received mine, just want to know if they actually paid anybody any dividend?

  52. Anonymous

    August 9, 2019 at 5:07 pm

    Please any information about linkage Assurance Plc dividend payout for FYA 2018?

  53. Ubong Mkpesit

    August 15, 2019 at 3:19 pm

    Hi, Nairametrics. Thanks for the good work you people are doing. Please I need a mobile number or email of any of your staff I can communicate with for some business discussions. Thanks.

  54. Okunlola Toyin

    August 21, 2019 at 7:57 pm

    GT Bank and Zenith Bank just declared an interim dividend this august and it has not been included in your compilation.Thank you for the good work you have done.

  55. Ola Ilesanmi

    August 27, 2019 at 12:10 pm

    I don’t actually know what investors will return as gains as from next January if an investor pays
    1.statutory Charges on equities subscribed @ 3.9% per transaction
    2. VAT on investment 5% per transaction
    3. VAT ( the percentage yet to be declared by IFRS ) on online transactions within or outside the country . One should understand that dividends are now transmitted electronically .per dividend
    4 . You are going to pay stamp duty of #56.5 per lodgement
    5. A minimum charge of #50 for ATM maintenance .monthly .
    Company : Timber PLC
    Cost per unit : #4
    Buying 1000 units is equal to #4000
    Brokerage charge at 3.9%= #156
    VAT on investment at 5% = #200
    VAT on dividends say at 5%#200
    Stamp duty charge at #56.5
    ATM monthly service at #50
    TOTAL. #656.5
    .45kobo per share translating to #(.45×1000units) ÷ 100 = #450
    Therefore an investor’s is equal to -#246.5 !
    Even if you have your name in Forbes as a captain of industries , the above is still outside infrastructural maintenance , tariffs , EPA , staff salary etcetera that is if the above example is to be in multiple of millions , billions , trillions say for a multi national company .

    • Joseph

      March 6, 2020 at 8:12 am

      This analysis is wrong and can be misleading.
      Brokerage charge is 1.35% of total value, while VAT is not computed on total value but on the brokerage charges.
      Using your illustration for Timber PLC, the transaction would look like this:
      Brokerage charges (1.35%) = #54
      VAT on brokerage (7.5% on Charges) = #4.05
      Stamp duty (0.075%) = #3
      Sec Fees (0.3%) = #12
      Total = #77.35
      ATM monthly service is not an NSE charge
      With a dividend of #450 and VAT of 10% being deducted = #405
      Hence, you have #327.65 profit from this #4000 investment.
      Your last comment isn’t necessary at all.
      All the best!

      • Chuks Okaonye

        April 14, 2020 at 12:31 pm

        Well, I may not be good in maths but I know when I’m making money and certainly know my numbers.. revenue, gross profit and net profit.

        I have invested about N40 million naira in our stock market since year 2001… Mainly in the banking sector. As of today, that money is remaining about 17 million naira including all the dividends received.

        Nigeria stock market is rigged and a scam to say the least.

        Likewise, the $60,000 I invested in mutual funds in USA in year 2001, today is worth almost $550,000 ..

        Anybody who have money for investment should invest in developed economies.

        • Adekunle Adenigbagbe

          April 15, 2020 at 3:14 am

          Wow. This really got to him. So sorry for your lose Mr. Okaonye. I just started my career in the financial sector with an 100k salary and i am just contemplating on the environment to invent and saw your timely comment, i will make further research and i hope I don’t make a wrong investment. Thank you once again for the comment. I wish you the best.


    October 7, 2019 at 9:13 pm

    Everyday oando is the largest company in Africa. but of to now no any dividend or bonus many years ago.

  57. Fatai

    October 30, 2019 at 8:10 pm

    Pls when register say ur dividend is send to cscs and I did not buy the share from second market I buy the share at public offer pls what can I do

  58. Debby

    December 28, 2019 at 10:09 am

    Please when is Nigerian Brewries paying dividends for the end of the year?

  59. Fortune

    January 12, 2020 at 9:29 am

    How can I receive my dividend without going through the registrars?

  60. Ikechi Iroegbu

    January 15, 2020 at 7:51 pm

    I love the way people respond to other people question. that is so so nice please guys keep the good info going.

  61. Abimbola

    January 17, 2020 at 9:08 am

    You can call the registrars (check for their number via their website) and ask them if you can submit your form to them via email. You can also confirm if your bank is still accepting forms for upload for the same purpose.

  62. Chinelo Ugwu

    February 18, 2020 at 4:46 pm

    Please release the list of dividends to expect this year. I always look forward to it.

  63. Chinelo Ugwu

    February 19, 2020 at 5:11 pm

    Thank you so much for responding. I appreciate.

  64. Azubogu Adaeze Ebele

    February 23, 2020 at 2:27 pm

    Is Oando progressing now or not

  65. Azubogu Adaeze Ebele

    February 23, 2020 at 2:46 pm

    Am feeling very bad about Oando for not giving dividend despite there promise last year to pay dividend this year if they are not forth coming with dividend pls let us know on time so I pull the money I invested there.

  66. Gemstone

    February 26, 2020 at 2:48 am

    I trust zenith bank they are d highest so far in banking industry followed by Gtbank…i must que in for this year although I be ashawo.i fuck and dumb meaning I buy get my dividend n sell…I just dey wait for baba NESTLE

  67. El Et

    February 28, 2020 at 11:44 am

    Thanks for the awesome resource placed on this page. Please the list does not scroll over to pages 2 to 6 so we are unable to really take advantage of the good work here shown. Many thanks

  68. Mr ojukwu Charles.

    March 2, 2020 at 4:01 pm

    Please my question is on IGI insurance. I invested during their private placements and till date I have not heard from them. Does it mean I have lost my money. Even up till now it has not been quoted in the stock exchange.


    March 3, 2020 at 12:52 pm

    for many years now. i have not being receiving divined from Access Bank.. i need help. i need their E-divined as to file and submit on line.

  70. BEN

    March 4, 2020 at 11:50 am



  71. Mayor

    March 4, 2020 at 1:08 pm

    Pls team, the above did not capture Vita foam released results. Thanks.

  72. BEN

    March 4, 2020 at 1:12 pm

    Dear Mr. Ola Ilesanmi;


  73. Joseph

    March 6, 2020 at 6:04 am

    Vitafoam is missing in the list

  74. Anonymous

    March 6, 2020 at 9:22 am

    I am no longer happy with Oando the way they are treating their shareholders, for some years now they have not paid dividend despite this they built gigantic headquarters in Victorian Island and the CEO is one of the highest paid executive in Nigeria today. The SEC should look into this matter, otherwise we the shareholder will take appropriate action o

  75. Anonymous

    March 6, 2020 at 9:42 am

    Oando had not paid dividend for some years now, shareholder seemed to be short changed On record oando within these periods built a giangatic head office in Victoria Island, on record the CEO is one of the highest paid in the in Nigeria today if is no making return why engaged in these spendings.I suggest the SEC should investigate this matter otherwise we the shareholders will take it up through legal processes.

  76. Anonymous

    March 6, 2020 at 5:32 pm

    Oando , has refused to pay dividends for the past five years. I see them investing and building up new branches. They should let us know..the money I invested as a still mine

  77. Ademola Akinsola

    March 9, 2020 at 1:25 pm

    Nairametrics previously quoted 0.25k as Access Bank plc 2019 proposed dividend, it was later changed to 0.40k after the company officially released their FY report.

    Nairametrics, where was the initial “misleading” quote gotten.

  78. Edu Oladapo

    March 10, 2020 at 10:29 am

    @Ademola Akinsola, Access Bank declared 25k as interim dividend while 40k for final dividend for FY2019


    March 11, 2020 at 1:16 pm


    • Obata

      March 18, 2020 at 7:32 pm

      Download app and buy from there

  80. KALU, O A

    March 19, 2020 at 11:45 am

    I paid N5,000.00 to buy Alstates Trust Bank shares. The bank folded up and my money was not refunded. What do I do? DAAR communication did an IPO many years ago.I bought the shares. Up till now no dividends. Absolutely disgusting.

  81. Emmanuel Olusegun Akerele

    March 21, 2020 at 10:59 am

    No good things work in Nigeria, I bought UBA shares many years back from secondary market through Marriot Securities & Broker Ltd, I perfected everything, I mean, I did all documentation and even registered my CSCS Account through the company, now, when it is time for me to receive my dividend, Prudential, the company in charge of UBA now told me that they don’t have my signature, so, I have to get a form and sign it in my bank which I did and return it to them with #1,500 which I said I can’t afford. Please, is there any means to solve this issue? It’s because am thinking of notifying Nigeria Stock Exchange and other regulatory bodies. Emmanuel Olusegun Akerele.

    • Anonymous

      April 28, 2020 at 2:26 pm

      Hello Mr. Akerele

      The stock market actually works in Nigeria irrespective of some challenges which can actually be resolved. Signature confirmation is necessary if your signature becomes irregular or was not sent to the registrar along with other details at the time you bought the shares. Don’t forget you bought through your broker (secondary market) and you had no account with Africaprudential registrars previously so they need to identify you properly. There are some charges for some registrar services. So I don’t think there is need to report the registrar to anyone. Just confirm your signature with your bank and pay the prescribed fees to get the dividend and subsequent ones in the future.
      Thank you.


    March 23, 2020 at 12:47 pm

    Emmanuel Olusegun Akerele, currently you don’t need since your hold to panic your stocks are intact,your broke Marriot Securities would have guided u properly, i believe the registrar is claims irregular signature which you have to regularize it with your bank, you can get paid or you simply apply for change in signature but which would demand for the old one that you aren’t sure of. Simply get your signature regularized with you bank.

  83. Okweri Moses Jonah

    March 25, 2020 at 7:29 am

    When is First Bank Nigeria plc, likely to hold their AGM for 2019 financial ending. As share holder,based on their performance do we expect dividend payments

  84. Adegboyega Adedeji Olaoluwa

    March 25, 2020 at 8:25 am

    I have not received any dividend for the past 10years. Kindly help out

  85. Anonymous

    March 26, 2020 at 4:26 pm

    Why nothing heard about ECOBANK dividend for this long?

  86. Joseph pwajok

    March 28, 2020 at 7:58 am

    UBA could not pay their shareholders yesterday 27 of March 2020 their dividend. Please, when are they paying what’s due?

  87. Joseph pwajok

    March 28, 2020 at 8:09 am

    You guys are doing a very good work, God bless you for the good information you are passing. The corona virus pandemic has so affected global economy and it’s my believe that solution will come soon by the grace of God.

  88. Anonymous

    April 4, 2020 at 12:39 am

    hello please its over 10 years i bought my shares i need help … how do i go about it thanks

  89. Anonymous

    April 5, 2020 at 7:54 am

    For the past seven years. I haven’t gotten any of my dividend from all the stocks I bought. What do I do? I even opened CSS account and still nothing.

  90. Stan

    April 5, 2020 at 9:04 am

    Hi guys,
    You are doing a fantastic job, kindly keep it up.
    Please update your dividend payment day for some companies who have not complied with the stated dates.
    For example, UBA and it’s affiliates.
    Please how can I contact INVESTMENT and ALLIED COMPANY


    April 5, 2020 at 8:01 pm

    Good evening, please when last did japaul oil declare dividend?

  92. Seye

    April 7, 2020 at 12:13 am

    Can we reconfirm the dates

  93. Iliyasu Isah Muhammad

    April 9, 2020 at 12:09 pm

    I’m invested my money in Habib bank plc, since 2008, I have not receive any dividend yet. What is wrong please.

  94. Jafaru Samuel O

    April 10, 2020 at 2:09 pm

    Good day. Some of us who are investors in UACN are worried over the delay in the release of the company’s audited 2019 accounts. The shares have been falling due to the delay

  95. Michael Adeyemi Onaderu

    April 14, 2020 at 5:03 am

    Is there any archive where I can trace shares I have with Nigerian companies? I misplaced my stock file.

  96. Jacintha

    April 22, 2020 at 7:52 pm

    Please I would like to know if you must purchase shares with the T+3 rule or you can purchase anytime before the qualification date??

  97. Eleruweere muflihat Ajoke

    April 24, 2020 at 9:09 am

    I have some share with, first bank,union and some others but I don’t hear anything from them for the past 10..12years ago now,how can you help me

  98. Anonymous

    April 25, 2020 at 12:08 am

    Please i need a reliable stockbroker with name and email address thanks

  99. Akorede Samson

    April 28, 2020 at 11:43 pm

    I want to buy stock for a very long time for my kids any likely recommendations on any stocks that may still be in existence for the next 25years. Please I humbly await your response.



  100. Edoho aniekan David

    May 6, 2020 at 6:55 pm

    Eco bank have not pay dividends for so long why,bigtreat for so long I have not heard anything about the shares, tantaliziler have not pay,becoprot have not pay,sky bank have not pay,

  101. Niklas

    May 8, 2020 at 11:26 am

    I am from Europe and haven`t received any dividend from Guaranty Trust Bank this year. Will I still receive it?

  102. Princeo Princeo

    May 15, 2020 at 4:09 pm

    Please can you add column of current share price in the table for Dividends from companies quoted on the Nigerian Stock Exchange

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Halving: Bitcoin whales gather more BTC, waiting for bullish run

Many cryptocurrency traders and investors expected that Bitcoin halving would boost Bitcoin’s bullish run in the short and mid-term



Bitcoin users rise in Nigeria despite Senate, CBN campaign against it, Answering the big Bitcoin question - buy, sell or hold?, Bitcoin hits a 12-month low, Bitcoin price under pressure, stays under $7000, How to protect your bitcoin from hackers, Bitcoin Whales Gathering More Bitcoins, Waiting For the Bullish Run

Bitcoin has been experiencing high volatility in recent months. The flagship cryptocurrency is yet to perform as expected, since its third halving event, which occurred on May 11.

Many cryptocurrency traders and investors expected that the event (Bitcoin halving) would boost Bitcoin’s bullish run in the short and mid-term.


Bitcoin addresses that own at least a hundred Bitcoins have increased their ownership level to another 12,000, according to data obtained from a cryptocurrency analytic firm, Santiment Research Company.

The new purchase is worth around $108 million based on the current market prices. The research company stated that, “Since Bitcoin’s drop below $9,500 on May 20, addresses holding 100 or more Bitcoin have added another 12,000 BTC to their bags – more than $108,000,000 at current prices.” 

GTBank 728 x 90

What are Bitcoin whales? In the Bitcoin world, investors or traders who own a large number of Bitcoins are typically called Bitcoin whales. This means a Bitcoin whale would be an individual or business entity (with a single Bitcoin address) owning around 1,000 Bitcoins or more.

(READ MORE: Bitcoin is performing better than gold)

Most cryptocurrency traders are taking positions into Bitcoin’s relatively low prices, with many of them expecting it to rise after the recent Bitcoin halving event.

Santiment Research Company also gave details showing that the Bitcoin addresses that have shown notable behavioral patterns since the beginning of the year might see history playing out again. It said, “Since the start of the year, these addresses have shown a propensity to accumulate into dips and offload their bags slightly before short-term tops occur. Will this history repeat itself?”

READ ALSO: Meet Theta Fuel, the cryptocurrency that catches world’s attention



Some investors are waiting on the sidelines to see how this situation unfolds. While it is difficult to predict market movements, Bitcoin whales have always shown historically that they often determine Bitcoin’s  trend.


Continue Reading


Covid-19: Timeline of every pronouncement made by Nigeria to support the economy.

Timeline of every action announced since the outbreak hit Nigeria.



IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele  , Increasing food prices might erase chances of CBN cutting interest rate   , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million  , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction

The number of people living with the Coronavirus Disease (COVID-19) and deaths from it have been on the increase daily.

The Federal Government and its relevant agencies, especially the Central Bank of Nigeria, have responded with policies to cushion the economy, restore investors’ confidence, and support Small and Medium Enterprises (SMEs) and households.


A look at some of the initiatives:


MAY 21, 2020

GTBank 728 x 90

CBN introduced N100 billion credit intervention scheme to mitigate the impacts of COVID-19 on businesses, particularly those in the health sector. The scheme, which was planned to be funded from the Real Sector Support Facility – Differentiated Cash Reserves Requirement, is to have an interest rate of 5% per annum until March 1, 2021, when it will revert back to 9%.

The apex bank insisted that the money would be given to people that would import or source for foreign exchange for materials that can be source locally

CBN also postponed the much-awaited  May 2020 Monetary Policy Commission (MPC) meeting. The meeting that was earlier scheduled for Monday and Tuesday, May 25 and 26, 2020,  was shifted to Thursday, May 28, 2020. This is as a result of the
declaration of Monday and Tuesday, May 25 and 26, 2020, as Eid-el Fitr holidays.

The apex bank assured that it has put in place all necessary machinery for the meeting to now hold for only one day on account of the on-going COVID-19 national lockdown and to align this meeting with extant rules of the Presidential Task Force (PTF) on COVID-19 and advisories from other relevant agencies.





MAY 19, 2020

The Central Bank of Nigeria (CBN) tasked industrial conglomerates operating in the country to support efforts of the government to grow the nation’s economy and return it to its green days. CBN Governor, Godwin Emefiele, warned that the apex bank would not support the importation of items that could be produced in Nigeria.

In a virtual meeting with Chief Executive Officers (CEOs) of conglomerates in Nigeria, Emefiele explained that the CBN, in line with President Muhammadu Buhari’s desire, was determined to return the Nigerian economy to the period when the manufacturing and agricultural sectors formed the base of the economy.

READ ALSO: Central banks digital currencies pose a threat against the U.S dollar



MAY 18, 2020

The Central Bank of Nigeria (CBN) tasked industrial conglomerates operating in the country to support efforts of the government to grow the nation’s economy and return it to its green days. CBN Governor, Godwin Emefiele, warned that the apex bank would not support the importation of items that could be produced in Nigeria.

In a virtual meeting with Chief Executive Officers (CEOs) of conglomerates in Nigeria, Emefiele explained that the CBN, in line with President Muhammadu Buhari’s desire, was determined to return the Nigerian economy to the period when the manufacturing and agricultural sectors formed the base of the economy.



MAY 18, 2020

The Federal Government of Nigeria extended the gradual easing of the COVID-19 lockdown across the country by two weeks.

Chairman of the Presidential Task Force (PTF) on COVID-19, Boss Mustapha, stated that in spite of the modest progress made, the country is still not yet ready for full reopening of the economy and said that tough decisions have to be taken for the good of the greater majority.

Central Bank of Nigeria (CBN) also signed an agreement with the Nigerian National Petroleum Corporation (NNPC) to spend as much as N1 billion as quarantine costs for about 3,000 Nigerian returnees.

The decision by the duo regulator was disclosed by Nigeria’s Foreign Affairs’ Minister, Geoffrey Onyeama. According to Onyema, this is a CSR gesture by the CBN and the NNPC. The N1 billion is expected to cover the costs of hotel accommodation and the feeding of the returnees

READ ALSO: Covid-19: CBN wants to fund research for Nigerian Made vaccines



MAY 16, 2020

Federal Government announced that new Micro Small and Medium Enterprises (MSMEs) will access National Agency for Food and Drugs Administration and Control (NAFDAC) registration of their products at an 80% discount, over the next 6 months.

This concession covers MSMEs that are into production of foods, drugs, and related consumables. As an added incentive, the first 200 micro and small businesses to register on the e-platforms will be allowed to do it at no cost – zero tariffs.

In view of current economic challenges faced by businesses due to the pandemic, the government has also authorised NAFDAC to grant a waiver on administrative charges for overdue/late renewal of expired licenses of products for a period 90 days.



MAY 12, 2020

CBN disclosed that it was developing a framework to provide financial support to aid the fight against Coronavirus Disease in the country. According to Emefiele, the fund would be released as soon as the vaccine was validated by health authorities.


MAY 10, 2020

CBN assured foreign investors that repatriating their funds from the country was secured despite forex related revenue shortages due to the drop from the sale of crude oil globally.

The apex bank had put in place policies to ensure an orderly exit for those that might be interested in doing so and also urged investors to be patient as such repatriations were being processed, owing to the Bank’s policy of orderly exit of investments.



MAY 3, 2020

CBN and the Bankers’ Committee ordered all banks in the country not to retrench or lay-off any staff of any cadre (either full-time or part-time). The apex bank also said that its approval must be sought if it became absolutely necessary to lay-off any such staff.


MAY 2, 2020

The Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL) Microfinance bank, on behalf of the Central Bank of Nigeria (CBN), started the disbursement of the N50 billion Targeted Credit Facility (TCF) to beneficiaries.

The facility is a stimulus package which was introduced by CBN, to help mitigate the impact of the coronavirus pandemic on households and MSMEs.


APRIL 30, 2020

CBN extended the deadlines issued to Microfinance banks (MFB) to comply with its revised minimum capital requirements.



APRIL 29, 2020

CBN resumed the sales of dollars to SMEs who need foreign exchange for essential imports, as well as Nigerian students in foreign schools who need to pay their school fees.

This comes as the world-wide COVID-19 lockdown begins to ease up, even as business activities are expected to gradually return to normal. In view of the gradual easing of the COVID-19 lockdown both globally and in Nigeria.




APRIL 28. 2020

The apex bank lifted the temporary suspension placed on cheque clearing in the country with effect from Tuesday, April 28, 2020.
In the circular, it explained that it lifted the suspension in furtherance of its efforts in the development of a safe and efficient payment system in the country.

IMF loan
The executive board of the International Monetary Fund (IMF), approved $3.4 billion as Rapid Financing Instrument (RFI) as fiscal support to Nigeria during this period of coronavirus pandemic.

The fund that was requested by Nigeria is to be used to mitigate the impact of the coronavirus pandemic on Nigeria’s economy as the country grapples with dwindling government revenue and an economic crisis following the crash of crude oil prices globally.

READ ALSO: CBN discloses conditions for assessing N100 billion credit facility, addresses ‘process problems’

APRIL 14, 2020

In preparation for post-COVID-19, CBN announced four major areas of focus. They are:

Provision of affordable housing: Here the CBN will create an intervention fund which will target housing construction by developers who provide proof of profiled off-takers with the capacity to repay the loan.

The BVN will be used to verify the information given by the off-takers before the developers can access the facility. The CBN will also assist the mortgage finance sub-sector, assist land administration agencies at the states to build capacity for prompt processing and issuance of land titles.

Renewable energy: The CBN, over the next three years, will be providing financial support to environmentally friendly energy production, as this has tangential long term health benefits.

Cutting edge research: Also, the bank will be providing funding and encouraging efforts aimed at driving innovation and research in every sector through our universities, research institutions, creative industry initiatives and so on.

Light manufacturing: The apex bank plans to set up a N500 billion intervention fund over a medium, and targeted at manufacturing firms for the procurement of state of the art machinery and equipment and automated manufacturing models that would fast track local production. It will also help increase the patronage of locally processed products.

CBN intends to close the funding gap needed for the replacement of machinery and equipment in order to enhance local production.



MARCH 30, 2020

* The Federal Government also gave a directive that all economic and social activities in Ogun, Lagos States and Federal Capital Territory should be suspended for two weeks. The lockdown affected the movement of people across the states, except for people in the essential services sectors.

• CBN suspended the clearing of all cheque instruments in the Nigerian Clearing System. According to the bank, the directive was intended to “ensure hitch-free clearing and settlement activities” during the previous 14-day lockdown.

CBN’s suspension was based on the earlier envisaged two-weeks lockdown which was later extended to about 5 weeks.



MARCH 27, 2020

CBN and the Banker’s Committee formed the Nigerian Private Sector Coalition Against COVID-19. The apex bank explained that the coalition was in partnership with the private sector, led by Aliko Dangote Foundation and Access Bank.


MARCH 25, 2020

Following the request of the Association of Bureau de Change Operators of Nigeria (ABCON) to declare market holiday on its members’ weekly bidding, the CBN suspended the sales of foreign exchange to operators of Bureau de Change.


MARCH 24, 2020

The Monetary policy committee unanimously voted to:
• Retain the MPR (Monetary policy Rate) at 14%.
• Retain the asymmetric corridor at +200/-500 basis points.
• Retain the CRR (Cash Reserve ratio) at 27.5% and retain liquidity ratio at 30%.


MARCH 20, 2020

• The CBN officially devalued the naira by 15% moving from N307/$1 to N360/$1. Depreciation at the “market-determined” I&E window is 5%, having moved from N360/$1 to N380/$1.

• CBN sold dollars to banks at N380/$1 in a move signifying a devaluation of the currency. Banks trading at the Investor and Exporter (I&E) window bought dollars at N360/$1 from the CBN on Friday, March 20, 2020. The I&E window is the official market where forex is traded between banks, the CBN, foreign investors, and businesses



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Gold drops in two consecutive days, as hope raises over Covid-19 vaccine

Gold futures fell 1.70% to $1,706.06 by 4 pm local time, with global investors retreating from the pullback from gold after hopes were strengthened



Gold drops in two consecutive days as hope raises over Covid-19 vaccine

Gold was down for the second day in a row on Tuesday morning in London’s trading session, even after a falling dollar made gold slightly cheaper for investors holding other currencies.

Gold futures fell by 1.67% to $1,706.45 by 4 pm local time, with global investors retreating from the pullback from gold after hopes were strengthened on Novavax’s Covid-19 vaccine. The biotechnology company is preparing to present results from its phase one clinical trial of its vaccine by July. Based on these, phase 2 trials will begin in many countries, including America.


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Investor sentiment was also boosted by Japan, the third-largest economy in the world, as it lifted its state of emergency which included regions like Tokyo. However, the number of Covid-19 cases continues to climb, and U.S.-China relations continue to simmer in the background.

Furthermore, global investors will look to U.S. Federal Reserve Chair, Jerome Powell’s, statements during a scheduled virtual meeting on Friday for tips of whether the Federal Reserve will consider negative rates.

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(READ MORE: The World’s Economy may not survive without a vaccine)

US-China tensions have also fueled concerns about the implementation of a trade deal. Gold’s rally is showing signs of exhaustion amid relative calm in equity markets. However, buying interest may emerge at lower levels amid growth worries and US-China tensions,” Kotak Securities said in a recent note.

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