Category: Capital Market/Banking

Access Bank Partners FG, To Roll Out Loans For Farmers, SMEs
May 5, 2022 No Responses

Access Bank Partners FG, To Roll Out Loans For Farmers, SMEs

Access Bank Plc has partnered the Ministry of Humanitarian Affairs, Disaster Management and Social Development to roll out a loan scheme for poor farmers aged 18 years to 55 years and other vulnerable groups.   In  statement on Thursday, the bank’s...
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Dangote Cement Ramps Up Production At Okpella Plant, Attains N105.9 b Profit In Q1
May 5, 2022 No Responses

Dangote Cement Ramps Up Production At Okpella Plant, Attains N105.9 b Profit In Q1

Dangote Cement Plc, has ramped up production at its newest plant, in Okpella, Edo State as its earnings per share rose by 16.8 per cent to N6.18 for the first quarter ended March 31, 2022.  Chief Executive Officer, Dangote Cement,...
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Dangote Cement Completes N116b Bonds
May 4, 2022 No Responses

Dangote Cement Completes N116b Bonds

‘ Dangote Cement has completed its N116 billion series 2 bond issuance which is the largest corporate bond issuance in the Nigerian capital market.    In a statement published on the Nigerian Exchange Ltd Website on Wednesday, the company expla...
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Access Bank Promotes 800 Staff 
May 3, 2022 No Responses

Access Bank Promotes 800 Staff 

Access Bank Plc has announced the promotion of 800 employees following performance management review in line with global best practices.  The Group Head, Communications and External Affairs of the bank, Mr Amaechi Okobi, explained in a statement that bene...
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Flour Mills Secures Approval To Acquire 76% Stake In Honeywell
April 30, 2022 No Responses

Flour Mills Secures Approval To Acquire 76% Stake In Honeywell

Flour Mills of Nigeria Plc (FMN) has obtained the required regulatory approvals to acquire 71.69 per cent stake in Honeywell Flour Mills Plc (HFMP), formerly a portfolio company of Honeywell Group. The company made this known in a statement by...
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20 Pension Fund Administrators Meet Deadline For N5b Minimum Capital 
April 30, 2022 No Responses

20 Pension Fund Administrators Meet Deadline For N5b Minimum Capital 

Twenty Pension Fund Administrators (PFAs) met PenCom’s deadline to increase their Minimum Regulatory Capital (shareholders’ fund) from N1 billion to N5 billion by April 27.   Pension Commission (PenCom) made the declaration in a statement it issued in Lag...
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Nestlé Nigeria Attains N18b Profit In Three Months
April 30, 2022 No Responses

Nestlé Nigeria Attains N18b Profit In Three Months

By citybusinessnews@yahoo.com   — For the first quarter ended March 31, 2022, Nestle Nigeria Plc has declared profit after tax of N 18.0 billion.  According to the unaudited financial statements, the company recorded a revenue of N 110.2 billion ...
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MTN Nigeria Shareholders Get N13.12b Dividend For 2021
April 30, 2022 No Responses

MTN Nigeria Shareholders Get N13.12b Dividend For 2021

For the year 2021, MTN Nigeria Communications Plc paid N13.12 billion as dividends to shareholders.  Its audited Financial Statement for the year released in Lagos on Friday showed that the company paid N8.57k per shareholding.  The statement also in...
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GTCO Declares N54.3b Profit Before Tax In Q1
April 28, 2022 No Responses

GTCO Declares N54.3b Profit Before Tax In Q1

Guaranty Trust Holding Company Plc, (GTCO) has released its unaudited financial results for the first quarter of 2022 to the Nigerian Exchange Ltd., (NGX) and London Stock Exchanges, declaring a profit before tax of N54.3 billion.   The group, in a...
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First Bank Photo News
April 27, 2022 No Responses

First Bank Photo News

L-R: Dr Ken Giam, Chairman African Leadership Magazine; Rosalyn Henderson Myers, Representative for South Carolina House of Representatives USA; Dr. Adesola Adeduntan, CEO, FirstBank; Judge Carlos Moore, President National Bar Association for the Advancement o...
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Stakeholders Tackle SEC Over Alleged Arbitrary Increase In CMOs Fees
April 23, 2022 No Responses

Stakeholders Tackle SEC Over Alleged Arbitrary Increase In CMOs Fees

The Issuers and Investors Alternative Dispute Resolution Initiative (IIADRI) has condemned alleged arbitrary and unilateral increase in fees charged to Capital Market Operators (CMOs) by the Securities and Exchange Commission (SEC).  A statement join...
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AfDB To Double Africa’s Climate Finance To $25b 
April 21, 2022 No Responses

AfDB To Double Africa’s Climate Finance To $25b 

The African Development Bank (AfDB) will within the next five years double the climate change finance of Africa to $25 billion   Dr Kevin Kariuki, AfDB Vice-President for Power, Energy, Climate and Green Growth, said this at a virtual news conference...
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Union Bank Bags Middle East, Africa Innovation Awards
April 20, 2022 No Responses

Union Bank Bags Middle East, Africa Innovation Awards

Union Bank of Nigeria has received the highly acclaimed award for the Best Trade Finance Platform Initiative, at the recently concluded Middle East & Africa Banking Innovation Awards 2022. A statement sent to City Business News Online explained that the...
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Presco: Sustaining Growth Through Expansion 
April 18, 2022 No Responses

Presco: Sustaining Growth Through Expansion 

No doubt, Presco Plc is one of the most fundamental stocks on the Nigerian Exchange Limited (NGX).  In its unaudited 2021 financial statement for the period ended December 31, 2021, Presco Plc  improved on profitability as the management ex...
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