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Daily Business News Brief | Wednesday, April  13th, 2022.


Wema Bank Reports 108.3% Growth in PBT, Declares N0.24 dividend – Thisday

Wema Bank Plc’s resilience was on display as the digitally driven financial institution announced its financial results for the year ended December 31, 2021.The bank recorded an increase of 108.3per cent in profit before tax (PBT) to close the year at N12.38 billion from N5.95 billion reported in 2020, while profit after tax closed 2021 at N8.93 billion an increase of 94.53 per cent from N4.59 billion in 2020 financial year……………..read more

Seplat, NB others lift capitalisation by N182 billion – Guardian

The Nigerian equities market sustained gaining streak to three consecutive trading sessions yesterday, as investors continue to take a position in some highly-capitalised stocks, especially Seplat and Nigerian Breweries (NB) causing market capitalisation to appreciate further by N182 billion…………………read more

Nigerian Breweries recommends N12.92bn dividend – Punch

The board of directors of Nigerian Breweries Plc has recommended a total dividend of N12.92bn for its shareholders for the 2021 financial year. The firm said the recommendation represented a 100 per cent payout with a total dividend of N1.60k per ordinary share of 50kobo each. Having been paid an interim dividend of N0.40k in December 2021, shareholders of the company were expected to receive a final dividend of N1.20k each on 22nd April 2022………………. read more

Nigeria’s oil production crashed by 744,000 barrels in March – OPEC– Punch

Nigeria’s crude oil production crashed by 744,000 barrels in March 2021 when compared to what the country produced in the preceding month of April, figures released on Tuesday by the Organisation of Petroleum Exporting Countries, showed. In OPEC Monthly Oil Market Report for April 2022, the organisation outlined the oil production volumes of its member nations and allies, as it revealed that the output from Nigeria dropped in March…………….read more

Fidelity Bank Set To Sensitise Businesses In North Central Zone On Opportunities In Non-Oil Exports – Independent

Fidelity Bank Plc is set to host businesses in the north central geopolitical zone to a special seminar on opportunities and implementation of the CBN RT200 FX Policy, following successful outings in Kano and Akure, leading financial institution. The session scheduled for Tuesday, 12 April 2022 in Jos, Plateau State capital would be facilitated by officials of the bank as well as representatives from key stakeholders in the Nigerian financial services and export industries……………………….read more

Stanbic IBTC Charts Course For Real Estate Development  – Independent

Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, has charted a new course for real estate investment in Nigeria. The financial institution was appointed to manage a real estate investment trust scheme, UPDC REIT, as confirmed by the Security and Exchange Commission (SEC) in May 2021. The UPDC Real Estate Investment Trust (UPDC REIT) was listed on the Nigerian Exchange Limited (NGX) in year 2008. The fund manager, Stanbic IBTC Asset Management, was bestowed with the responsibility to implement the closed-ended fund’s investment strategy and other related activities………………………..read more

CBN To Pay N65 Per Dollar Rebate To Exporters That Repatriate Export Proceeds – Independent

The Central Bank of Nigeria of Nigeria (CBN) has stated that it would begin payment of N65 rebate to exporters who sold their goods through the importers and exporters (I&E) window, at the end of the first quarter. Godwin Emefiele, CBN’s Governor, said this shortly after signing the Term Sheet between the Infrastructure Corporation of Nigeria (InfraCorp) and the Independent Asset Managers in Lagos. ……………………….read more

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