The combined profit of Presco Plc and Okomu Oil Palm Company Plc, two leading quoted agricultural firms rose by 94.32% during the first quarter of 2024...
The Board of Champion Breweries Plc has announced the completion of the acquisition of an 86.5% stake by EnjoyCorp Limited in the brewery firm. This was...
Story highlights Sam Onukwue, Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), discusses market development issues, highlighting the importance of banks’ recapitalization to...
Data from the National Pension Commission (PenCom) indicates that Nigeria’s pension fund assets have increased to N19.787 trillion as of April 30, 2024. This marks a...
Geregu Power Plc has entered a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant in the country. This was contained...
Geregu Power Plc has entered a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant in the country. This was contained...
Geregu Power Plc has entered a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant in the country. This was contained...
Femi Otedola, chairman of FBN Holdings and principal owner of Geregu Power, has levelled serious accusations against Zenith Bank, alleging fraud and mismanagement in dealings involving...
The Board of Directors of Africa Prudential Plc has appointed Mrs. Christabel Onyejekwe as an Independent non-executive director of the company. This was contained in the...
TLG Capital, an African investment firm, has announced a $5 million investment in Liberty & Justice (L&J), a swimwear manufacturing company based in Liberia. This represents...
Chrisland Schools Limited has opened up to N2 billion series 4 (Tranche A &B) Commercial Paper issuance for Subscription under its N8 billion Commercial Paper Issuance...
The Board of Sterling Financial Holdings Company Plc will, at an annual general meeting (AGM), seek shareholders’ approval to raise up to N200 billion through various...
Spot FX market turnover in April 2024 was $9.12 billion (N11.14 trillion), representing a Month-on-month (MoM) decrease of 27.68% ($3.49 billion) from the turnover recorded in...
Story Highlights Wema Bank shareholders approved raising N200 billion in capital and a 50 kobo per share dividend for 2023 to meet recapitalization directives. The bank...
Story Highlights Wema Bank shareholders approved raising N200 billion in capital and a 50 kobo per share dividend for 2023 to meet recapitalization directives. The bank...
Nigerian Exchange Limited (NGX) says that the total domestic and foreign portfolio transactions in Nigeria’s equity market amounted to N346.23 billion in April 2024. This was contained...
The Senate Committee on Capital Market has cleared Dr. Emomotimi Agama as the Director-General of the Securities and Exchange Commission (SEC). SEC in a press statement...
The board of Smart Products Nigeria Plc has appointed Mr. OLanrewaju Ogunlana as the Managing Director/CEO of the company. The company also appointed Mr. Olanrewaju Afolabi...
Shareholders of FBN Holdings Plc will receive a total dividend of N14.35 billion for the financial year ended December 2023, representing a total dividend of 40...
The Securities and Exchange Commission (SEC) has called on companies’ registrars to embrace technology as one of the ways of ensuring that the issue of unclaimed...
The Chartered Institute of Stockbrokers (CIS) has expressed concerns about the impact of recent foreign exchange reforms on companies with significant foreign exchange components, noting that many of...
The Nigerian Exchange Limited (NGX) has delisted the Shares of Arbico Plc from its Daily Official List of NGX. This was contained in the Exchange’s Weekly...
Shareholders of Champion Breweries Plc have approved the allotment of 559,249,714 unallocated and unissued ordinary shares of 0.50 kobo each, from the company’s authorized share capital...
The Board of Directors of Berger Paints Plc has appointed Mrs. Alaba Fagun as the Company’s Group Managing Director (GMD). This was contained in the company’s notice to the Nigerian...
Managing Director of Financial Derivatives Company (FDC), Mr. Bismarck Rewane has advised the Nigerian Labour Congress (NLC) against linking wage demands to the dollar exchange rate....
Seplat Energy Plc has announced an extension of the share sale and purchase agreement (SSPA) for the acquisition of ExxonMobil’s share capital in Mobil Producing Nigeria...
Nigeria’s Vice President Kashim Shettima has announced that President Bola Tinubu’s administration has secured investments valued at over $20 billion for the country. Shettima highlighted these...
International Breweries has announced that it has received approval from the Securities Exchange Commission (SEC) to proceed with is proposed Rights Issue. This was contained in...
The Board of Directors of Chams Holding Company Plc has announced the appointment of Mrs. Chijioke Ugochukwu as a Non-Executive Director of the company. The appointment was...
The United Kingdom (UK) Government said that it is committed to supporting Nigeria’s capital market development through its Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme....
Story highlight Financial experts argue that the CBN’s reliance on the Monetary Policy Rate (MPR) to control inflation is ineffective due to non-monetary factors like high...
Seplat Energy Plc has announced that share awards have been granted to the company’s Managing Director, Mr. Roger Brown under its Long-Term Incentive Plan (LTIP). The...
Airtel Africa has confirmed that its subsidiary, Bharti Airtel International (Netherlands) B.V., has completed a $550 million bond repayment that was due this month. The move...
Two leading Nigerian paint companies, Chemical and Allied Products (CAP) Plc and Berger Paints Plc, reported spending N17.172 billion on raw materials in the year ending...
The Director General of Debt Management Office, (DMO) Patience Oniha has stated that the federal government has raised N4.5 trillion out of the N6 trillion target...
Chief Executive Officer of Green Sahara Farms, Mr Suleiman Dikwa has called on companies operating in the country to avoid greenwashing in sustainability reporting. Dikwa made...
Chief Executive Officer of Green Sahara Farms, Mr Suleiman Dikwa has called on companies operating in the country to avoid greenwashing in sustainability reporting. Dikwa made...
Chief Executive Officer of Green Sahara Farms, Mr Suleiman Dikwa, has said that the impact of climate change is threatening medicinal resources and healthcare innovations in the country. Dikwa stated...
The Nigerian Exchange Limited (NGX) has admitted additional 402,082,657 ordinary shares of 50 Kobo each per share of Cadbury Nigeria Plc on its platform. This was...
Shareholders of Flour Mills Nigeria Plc have approved a resolution pertaining to the restructuring outlined in the scheme document dated March 22, 2024. In the court-ordered meeting on...
The board of directors of Unilever Nigeria Plc has appointed Mr. Bolaji Balogun as Independent Non-Executive Director and Chairman of the Board of the company. Additionally, the company also appointed...
The board of MRS Oil Nigeria Plc has said that as part of exit consideration from the Nigerian Exchange Limited (NGX), it will pay dissenting shareholders...
Seplat Energy Plc’s shareholders have approved the payment of US 15 cents per share recommended by the company’s board of directors. The approval was given at...
Shareholders of Fidelity Bank Plc have endorsed the recommendation of the board of directors for a final dividend of N19.2 billion for the financial year 2023....
Leading insurance companies in Nigeria paid N141.761 billion in claims in the financial year of 2023, compared to N120.563 billion in 2022, representing a growth of...
The Federal Government has listed its April 2024 savings bonds worth N4.214 billion on the Nigerian Exchange Limited (NGX) platform. This was disclosed in the market...
FBN Holding Plc has said that it plans to publish both its full-year 2023 annual financial statement and first quarter 2024 unaudited financial statement on or...
PZ Cussons Nigeria Plc has incurred a market value loss of approximately N70.5 billion since May 7, 2024. This downturn persisted today, with the company witnessing...
Shareholders of Berger Paints Nigeria Plc have endorsed the recommendation of the Board of Directors for a dividend of N232 million for the financial year 2023,...
The Securities and Exchange Commission (SEC) has vowed to collaborate with the Economic and Financial Crimes Commission (EFCC) to mitigate forex trading manipulations within the virtual...
MTN Group’s service revenue from South Africa surpassed that of Nigeria, traditionally its largest market by revenue. South Africa’s revenue increased modestly by 3%, reaching 10.4...
MTN Group, the largest telecommunications operator in Africa, has disclosed a notable decline in its first-quarter service revenue, registering a decrease of 18.8%. This downturn was...
Nigerian Exchange Group Plc realized N6.959 billion from transaction fees and treasury investment income in the 2023 financial year ended 31 December 2023. This was contained in the...
Shareholders of Unilever Nigeria Plc have endorsed the recommendation of the Board of Directors for a full-year dividend of N4.309 billion, which translates to a dividend...
Access Bank Sierra Leone Limited has announced the appointment of Maurice Nathaniel Cole and four other non-executive directors. According to a press statement made available to...
The Association of Capital Market Academics of Nigeria (ACMAN) says the Securities and Exchange Commission(SEC)’s new rules, which propose limitations on the amount of debt capital that can be raised...
Story highlights Nigerian banking stocks have suffered a sharp decline in the second quarter, exacerbated by the Central Bank’s recapitalization directive. The FUGAZ stocks, comprising major...
The National Pension Commission (PenCom) has disclosed that a cumulative total of 88,213 new Retirement Savings Accounts (RSAs) were registered during the quarter ending on 31...
The Board of Directors of MeCure Industries Plc has appointed Mr. Joseph Oyeyemi Babatunde and Mr. Tochukwu Chukwuneta Orajiaku as Independent Non-Executive Directors of the Company....
Nigerian Exchange Limited (NGX) has listed N4.075 billion of AVA Infrastructure Series 1 Fund on its trading platform. In a press release, signed by the head,...
Story highlights The Board of Beta Glass Plc has appointed Vitus Chidiebere Ezinwa as Chairman following the passing of Abimbola Ogunbanjo. The Board also welcomed four...
TotalEnergies Nigeria has launched the 2024 edition of its Startuppers challenge, which supports businesses in Nigeria and the African continent. The challenge was launched virtually on...
Shareholders of Guaranty Trust Holding Company (GTCO) Plc on Thursday at the third Annual General Meeting approved the company’s plan to establish a capital raising programme of $750...
Story Highlights The Securities and Exchange Commission (SEC) has introduced new regulations governing the issuance and allotment of securities by private companies. The rules outline penalties...
During the past two trading sessions, the share price of PZ Cussons Nigeria witnessed a depreciation of 19.94%, settling at N30.80 per share at the close. ...
The Association of Capital Market Academics of Nigeria (ACMAN) has expressed its concern regarding the timing of the proposed 0.5% cybersecurity levy introduced by the Central Bank of...
Access Bank Group has launched an innovative solution in collaboration with Mastercard to expand access to cross-border payments and remittances to and from the continent, bringing...
Tantalizers Plc successfully raised an estimated N1.07 billion through a private placement, as the fast food chain continues its restructuring plans. The company has negative retained...
Dangote Cement Plc and BUA Cement Plc spent a whopping N238.437 billion on fuel and power during the first quarter (Q1) ended March 31, 2024. This...
Shareholders under the aegis of the New Dimension Shareholders Association of Nigeria have called on the new Acting Director-General of the Securities and Exchange Commission (SEC),...
The Board of MRS Oil Nigeria Plc has adjourned the Extra-Ordinary General Meeting (EGM) of the Company, earlier scheduled for Tuesday, May 21, 2024, to seek...
Story Highlights The Nigerian Exchange Group (NGX) conducted a significant downsizing shortly after its annual general meeting in Lagos, officially terminating 25 employees, contrary to earlier...
The Nigerian Exchange Group (NGX) has relieved some staff members of their jobs days after its annual general meeting (AGM) which was held in Lagos. Multiple...
Investors of Airtel Africa Plc, one of the major telecommunications companies quoted on the Nigerian Exchange Group Plc (NGX), recorded a loss of about N826 billion...
Shareholders of Presco Plc will receive a total dividend of N26.300 billion for the financial year ended December 2023, representing a total dividend of N26.30 kobo...
Data from the National Pension Commission (PenCom) have revealed that Nigeria’s pension fund assets dropped marginally to N19.669 trillion for the period ended 31st March 2024. This...
As part of Transnational Corporation Plc’s proposed share reconstruction, the total number of issued ordinary shares of the company will be reduced by consolidating the issued...
The global concrete and cement market size is estimated to grow by $469.01 billion from 2023 to 2027, according to Technavio market research report. This growth is expected to occur...
FBN Holdings Plc, one of the old generation banks listed on the Nigerian Exchange Group Plc (NGX), reported a significant gain of approximately N238.703 billion by...
MTN Nigeria has said that it utilized the improved liquidity in the FX market to reduce the balance of outstanding letters of credit (LC) obligations to...
MTN Nigeria has said that it utilized the improved liquidity in the FX market to reduce the balance of outstanding letters of credit (LC) obligations to...
The Nigerian Exchange Group Plc has appointed Messrs. Chinelo Emeh as its Acting Group Chief Financial Officer of the company. According to the company’s notice to...
Wema Bank Plc, one of the nation’s oldest commercial banks, will seek shareholders’ approval to raise N200 billion in capital at the group’s annual general meeting (AGM)...
Seplat Energy Plc said it has released the applicable exchange rate used in determining its final and special dividend payout to qualified shareholders who wish to...
Shareholders of FCMB Group Plc will receive a total dividend of N9.901 billion for the financial year ending December 2023, representing a reward of 50 kobo...
The Nigerian Exchange Limited (NGX) has fined three quoted companies the sum of N49.500 million for their failure to file audited financial statements after the regulatory...
The Board of Presco Plc has announced the appointment of Mr Olakanmi Rasheed Sarumi as Chairman of the company. The Board also appointed Mrs Grace Titilayo Osuntoki and...
The Board of Berger Paints Nigeria Plc (BPN), has approved the appointment of Mrs. Nkechi Ojeyokan as the Company’s Chief Financial Officer (CFO), effective 01 May...
The Board of Directors of Lafarge Africa Plc has announced the appointment of Mr. Gbenga Oyebode as the Chairman of the company. According to the company’s notice...
FCMB Group Plc, one of the nation’s commercial banks, will seek shareholders’ approval to raise N150 billion capital at the group’s annual general meeting (AGM) scheduled...
The Chartered Institute of Stockbrokers (CIS) has elected Mr. Oluropo Dada as its 13th President and Chairman of the Governing Council. Dada’s election was announced in a statement...
Shareholders of Transcorp Hotels Plc have endorsed the recommendation of the board of directors for a dividend of N2.05 billion for the financial year ending December...
The NGX All-Share Index experienced a significant decline in April, losing N3.57 trillion in market value. This downturn represents the first monthly decline for the...
The Board of Standard Chartered Bank has announced the appointment of Dalu Ajene as the Chief Executive Officer of the Bank’s operations in Nigeria. According to the Bank’s press statement...
Coca-Cola Co. revised its 2024 forecast upward following a sterling first-quarter performance that surpassed Wall Street’s projections. Organic revenue, excluding currency fluctuations and acquisitions, surged by...
Inam Wilson, the appointed liquidator of Greif Nigeria Plc, has said that the process of voluntary wind-up is still ongoing. In a notice of Status of...
Shareholders of Nigerian Exchange Group (NGX) Plc have given their approval for the group’s initiative to raise capital of up to N10 billion naira through a...
The Board of Directors of Seplat Energy has announced the appointment of Mrs Eleanor Adaralegbe as Executive Director effective May 1, 2024. She will also be the Chief...
FMDQ Group Plc has announced the appointment of Mr. Muhammad Sani Abdullahi as the Group Chairman of the Board, effective Friday, April 26, 2024. The Group in a...