Presco Sustains Growth, Explains New Appointments

Presco Sustains Growth, Explains New Appointments

   By citybusinessnews@yahoo.com   – Investors’ appetite for the shares of Presco Plc continued on Tuesday as the stock gained 9.97 per cent on NGX.  At the end of the day’s transactions, the share price of Presco Plc increased to  N323.20  to emerge as the...
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DMO Raises N4.9tri For Ways And Means Securisation

DMO Raises N4.9tri For Ways And Means Securisation

The Debt Management Office (DMO) has raised N4.9 trillion out of the N7.3 trillion approved for Ways and Means securitisation. “For the Ways and Means, out of the N7 trillion approved for securitisation, we have raised N4.905 trillion,” Oniha said....
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Analysts Place “Buy” On Fidelity Bank

Analysts Place “Buy” On Fidelity Bank

Highly-rated, independent investment advisory firms have picked Fidelity Bank as a very attractive stock with potential to generate high returns for investors. Independent investment research reports by many market pundits reviewed at the weekend showed that F...
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Cardoso: Naira Best Performing Currency Globally

Cardoso: Naira Best Performing Currency Globally

Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, on Saturday said the apex bank’s FOREX reforms have made the naira the best-performing currency globally.  Cardoso, who at a briefing on the sidelines of the just-ended World Bank/IMF Spr...
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GTCO Declares N609.3b Profit For 2023

GTCO Declares N609.3b Profit For 2023

For the financial Year ended December 31, 2023, GUARANTY Trust Holding Company Plc (GTCO) has reported a Profit Before Tax of N609.3 billion, amounting to an increase of 184.5 per cent over N214.2billion recorded in the corresponding year. The group...
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Transcorp Power Declares N3.13 Dividend

Transcorp Power Declares N3.13 Dividend

Transcorp Power Plc (Transcorp Power) has reported N453 billion profit before tax for the year ended December. 31, 2023. Mr Stanley Chikwendu, Group Company Secretary, Transcorp Power, said this indicated a surge of 85 per cent, when compared with N439...
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Access Holdings Unveils $1.5b Capital Raising Programme

Access Holdings Unveils $1.5b Capital Raising Programme

Access Holdings Plc has unveiled plans to establish a capital raising programme of up to $1.5 billion or its equivalent. In a statement on Friday, the corporation explained that drawing from the programme, the Group expected to raise up to...
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CBN Increases Capital Base For Banks To ₦500b

CBN Increases Capital Base For Banks To ₦500b

The Central Bank of Nigeria (CBN) has increased new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion. A circular signed by the Director, Financial Policy and Regula...
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Ghana Suspends GTB, First Bank’s Forex Licences

Ghana Suspends GTB, First Bank’s Forex Licences

Citing various breaches of foreign exchange market regulations,the Bank of Ghana has suspended the Foreign Exchange Trading Licences of two Nigerian-owned banks, Guaranty Trust Bank Ghana Limited and FBNBank Ghana Limited.The suspension takes effect from March...
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NGX Group Declares N5.2b Profit, N1.5b Dividend For 2023

NGX Group Declares N5.2b Profit, N1.5b Dividend For 2023

Nigerian Exchange Group Plc has announced its full-year Audited Financial Statements for the year ended 31 December 2023, with a profit after tax of N5.2 billion and a declaration of a final dividend of N1.5 billion.  The Group experienced a...
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Africa Prudential Appoints Catherine Nwosu CEO

Africa Prudential Appoints Catherine Nwosu CEO

Africa Prudential Plc, the pioneering registrar listed on the Nigerian Exchange Group (NGX Group), has announced a historic leadership transition.  Effective March 1, 2024, Catherine Nwosu will become the company’s first female Chief Executive Offic...
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CBN Revokes Operational Licenses Of 4,173 BDCs

CBN Revokes Operational Licenses Of 4,173 BDCs

The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bankand Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised OperationalGuidelines for Bureaux De Change 2015, has revoked the licenses of...
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DMO Offers N2.5trillion FGN Bonds For Subscription

DMO Offers N2.5trillion FGN Bonds For Subscription

The Debt Management Office has offered two Federal Government of Nigeria bonds valued at N2.5 trillion for subscription at N1,000 per unit. The first offer is a seven-year bond valued at N1.25 trillion and expected to mature in February 2031....
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Segun Awolowo Mourns Ogunbanjo

Segun Awolowo Mourns Ogunbanjo

It is with a heavy heart  that I write these words to bid farewell to my dear brother,  Abimbola Ogunbanjo who met his untimely demise on Saturday 10th February, 2024.The news of his sudden departure has left me shattered, unable...
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