INVESTMENTS & ALLIED ASSURANCE PLC
April 24, 2014
Notice of Cancellation of Extra Ordinary General Meeting Investments & Allied Assurance Plc has notified The Nigerian Stock Exchange that the company’s Extraordinary General Meeting (EGM) earlier
scheduled to hold on Friday, April 25, 2014 at the Lagos Airport Hotel, Awolowo Way, Ikeja by 11.00 a.m. has been cancelled.
The Company informed that the cancellation is as a result of the interim order granted by Honourable Justice Rita Ofili-Ajumogobia of the Federal High Court, Lagos restraining the Company from holding the EGM pending the hearing and determination of a substantive application pending before the Court.
Investments & Allied Assurance Plc will communicate a new date for the rescheduled meeting in due course.
STANBIC IBTC HOLDINGS PLC
April 24, 2014
Changes in Directorship of the Stanbic IBTC Holdings Plc Stanbic IBTC Holdings Plc has notified The Nigerian Stock Exchange of the resignation of Mr. Chris Newson from the Board of the Company.
The Company also announced the appointment of Mr. Zweli Manyathi as a Non-Executive Director, both effective 16th April 2014.
Zweli Manyathi holds a Bachelor of Commerce (Financial Management) from the University of South Africa. He also holds a Professional Development Programme certificate from City University of New York
as well as Senior Executive Programme, Wits and Harvard Business Schools. Zweli commenced his working career at the First National Bank of South Africa where he was from 1984 to 2009. He held different positions and performed various roles during this period which include:
CE: Service & Sales Strategy; Director, Delivery Channels Strategies; CE, First Express (mass market banking); General Manager’s Assistant, Group Credit; Senior Manager, Business Development; Manager Credit; Manager Corporate Accounts; Chief Executive Officer, Metropolitan Branch Delivery;
Chief Executive, Branch Delivery and Chief Executive, Corporate Banking. He was at Standard Bank of South Africa Limited from April 2009 to December 2012 where he held the positions of Head, Corporate Banking Coverage and Head, Business Banking South Africa at different times. From February 2012 to July 2012 he worked with Barclays Africa Limited as Head, Business Banking – Africa.
Mr. Zweli is currently the CEO, Personal & Business Banking Rest of Africa at Standard Bank of South Africa Limited. A position he has held since August 2013. Mr. Zweli Manyathi has experiences at Goldman Sachs, New York, USA and is a member of 21st Century Trust, a UK based organisation that focuses on the training, development and creating networks for young people from across the world.
Tuesday I did blow the Whistle on increased volume of 149.2 million units on FBN Holding shares..and that Bollinger Bands within that level was getting tighter with a slight breakout from its Symmetrical Triangle chart formation..
So far, this avalanche has broken 32 trading day volatile sideways channel turning the intermediate trend Bullish with strong Candle spike blow out by 62 kobo closing at N13.21
Such huge blow off days occurring at the end of significant Profit taking/Exhaustion within its pairs trends in the NSE Banking/NSEASI could still amount to a bull trap.
For now, it is still a volatile events driven market that can move dramatically in either direction.
For now, FBNH is Bullish in short term and bearish in intermediate term.
The N14.45-N14.50 levels are strong consolidation/Resistant levels to watch…
FBN TA Levels
CeBIH calls for public support as cashless goes nationwide
Committee of E-Banking Industry Heads (CeBIH) has called for public support and understanding for the cashless policy scheduled to go nationwide from July 1st.
Cash less economy: It’s a threat to us
Chairman, CeBIH, Mr. Chuks Iku made this call while addressing a press conference in Lagos. Iku said that in preparation for the extension of the policy to other parts of Nigeria, the Central Bank of Nigeria (CBN), has commenced sensitisation campaign in the form of town hall meetings and seminars aimed at enhancing public awareness about the policy. He said, while these efforts are commendable, it is also important that members of the public support the apex bank by attending these meetings.