Kayode Adelowokan The Nigerian Stock Exchange (NSE) concluded its review of the prices of stocks, as part of its plans to improve liquidity and deepen the market, with the announcement of a new security that will be joining the league of High Priced Stocks. The stock announced is Lafarge Cement WAPCO Nigeria Plc. Head, Market […]
Kayode Adelowokan The stage is set for the 2nd edition of the Sovereign Trust Insurance Plc Open Golf Tournament in the ancient city of Ibadan, Oyo State. The event is scheduled to hold from April 25 – 27, 2014, at the Ibadan Golf Club, Onireke Reservation Area, Ibadan, Oyo State. The 3-day tournament is expected […]
The United Bank for Africa (UBA) on Thursday released its first quarter (Q1) 2014 results which showed a 30 per cent decline in profit after tax (PAT) to N11.1 billion, while profit before tax (PBT) declined by 21 per cent to N13.544 billion as against Q1, 2013. The decline in PAT was greater due to […]
Kayode Adelowokan It was a day of applause and praises from shareholders of Guaranty Trust Bank plc on Monday as it held the 24th Annual General Meeting with dividend payout of N1.70 per share, an increase of 10% over N1.55 paid in2012 and share price appreciation of 17% in 2013’. Its gross earnings at N242.67 […]
Kayode Adelowokan AIICO Insurance Plc has partnered Guaranty Trust Bank (GTBank) to provide a seamless service that would enable the public renew their life policies for free This is according to a statement from the company said the public can now renew their life policies at all GTBank branches in Lagos for free, adding that […]
Kayode Adelowokan The Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, Mr. Tony O. Elumelu, has emphasised the need to integrate the private sector as a full partner in global development, particularly given the constraints on official development assistance in the current fiscal climate. Elumelu disclosed this while giving his keynote address […]
The Nigeria’s equities market further appreciated Wednesday as the Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 0.35% to close at 39,017.66 points, compared with the appreciation of 0.66% recorded yesterday. Year-to-Date (YTD), the Index has shed 5.59% of its value. Similarly, the Market Capitalization recorded an appreciation of 0.35% to close at […]
Following his confirmation by the Senate, Mr. Adebayo Adekola Adelabu, has formally assumed his new role as the Deputy Governor of the Central Bank of Nigeria (CBN) on Wednesday, April 9, 2014. Adelabu, who was accompanied to the apex Bank by his aides, was welcomed by the Deputy Governor, Corporate Services, Alhaji Suleiman Barau. Introducing […]
…firms sue NPA The Nigerian Ports Authority (NPA) has accused three drilling firms- Sedco Forex, Noble Drilling and Pacific International Drilling- of evading payment of charges to the Federal Government for drilling in the Exclusive Economic Zone (EEZ). The firms had sued NPA at the Federal High Court, Lagos, challenging imposition of the charges on […]
Kayode Adelowokan, Lagos The World Bank has approved US$140 million additional support for community development in Nigeria with 26 states to benefit from the project focus on the most vulnerable households. According to a statement by the bank, the additional financing is expected to fund micro-project such as rehabilitation and construction of school class rooms, […]
…Company holds awareness training for block moulders To create maximum awareness on the competitive advantages of its new 42.5 cement grade, Dangote cement has embarked training of block makers from the South East on the proper use of the new cement and physical demonstration of sandcrete mixing with the 3x. The training came even as […]
As it continues the introduction of its newly launched 3x cement of 42.5 grade to various stakeholders, Customers of Dangote Cement Plc, especially those from the South East would for the next one week purchase the commodity at a hugely discounted rate in the spirit of the 25th Enugu International Trade Fair. The Company, still […]
Lagos-Nigeria: United Bank for Africa Plc announces impressive growth across key financial parameters, due to improved growth drive, sustained operational efficiency and enhanced productivity. In the financial results for the 12 months ended December 31, 2013 submitted to the Nigerian Stock Exchange, UBA recorded a 20.2% increase in Gross Earnings to N264.7bn. This was largely […]
The Financial Reporting Council of Nigeria (FRCN) on Thursday said the Central Bank of Nigeria (CBN) did not comply with the International Financial Reporting Standard (IFRS) in its 2011/2012 financial year report. The Executive Secretary of the FRC, Mr Jim Obazee, said this at the hearing to investigate the CBN on its activities for financial […]
Kayode Adelowokan, Lagos The Great Nigeria Insurance Plc has unveiled its new board members following the conclusion of it divestment process. At the Company’s 48th Annual General Meeting held in Lagos, the new Chairman, Tokunbo Talabi, in his maiden address assured the shareholders of the ‘board commitment to bringing to bear, their various wealth of […]
Kayode Adelowokan, Lagos The United Bank for Africa Plc (UBA) has notified the Nigeria Stock Exchange of the resignations of two Non-Executive Directors of the bank, who are, Emmanuel Nnorom, and Abdulkadir Bello. This is contained in a notice to the Exchange that in a letter dated March 25, 2014, signed by Bili Odum, group […]
Leading cement manufacturer, Dangote Cement Plc has declared its 2013 financials recording an upsurge in its Nigerian sales volume to the tune of 13.3million tonnes leading to a 40.6 per cent increase in profit before tax over the previous year. The company declared a profit before tax of N190.8 billion for the year. The audited […]
Kayode Adelowokan, Lagos Following the Tuesday’s strange fire that gutted the Lagos office of the Central Bank of Nigeria, the apex bank has assured its stakeholders and the general public that its records are intact. The fire incident, which started at about 5:10pm with thick smoke emanating from the first floor of the building after […]
Kayode Adelowokan, Lagos The Western Union Company (NYSE: WU), a leader in global payment services, and Ecobank Nigeria Ltd, an affiliate of Ecobank Transnational Incorporated (ETI), the leading financial services group in sub-Saharan Africa, has announced that customers can now conduct Western Union Account Based Money Transfer (ABMT) Services using any Ecobank Automated Teller Machines […]
…As Spending on Private Sector Ads Hits N125 Billion Kayode Adelowokan, Lagos The Association of Advertising Agencies of Nigeria (AAAN) has said that there is a positive correlation between the rates of investment in advertising and the growth of gross domestic product (GDP) in major markets. The Publicity Secretary of AAAN, Dr. Celey Okogun, disclosed […]
