8
May
May 8, 2023
| Prime Lending Rate Hits 13.97%, 25-month High on Hike in MPR – Thisday |
| Following the over the hike in Monetary Policy Rate (MPR) to 18 per cent by the Central Bank of Nigeria (CBN), Prime lending rate in the banking sector increased to an average 13.97 per cent in March 2023 from an average 13.62 per cent in February. This is according to the CBN in its money market indicators for the month of March 2023………. .. ………. …………. ……………..……..Read More |
| Subsidy removal: Spending on petrol may jump 250% to N8tn – Punch |
| Petrol consumers may pay about N8.4tn for Premium Motor Spirit, popularly called petrol, between July and December 2023 once the Federal Government stops subsidy on PMS in June, latest findings and industry data showed. This represents about 250 per cent increase from the N2.4tn PMS consumers would spend during the period if the government chose to retain the subsidy regime…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
| Speculative traders in limbo as Transcorp shed 31% in one week – Guardian |
| TransNational Corporation of Nigeria (Transcorp) might be heading down to N1.40 kobo level, as the stock shed 30.96 per cent to close last week at N1.94 kobo which was earlier predicted. It opened the week at N2.81 kobo but caved in as traders dumped the share after a failed Femi Otedola’s buy-in, leading the losers’ table for the week…… ………. …………. . ….. . … …………….……..Read More |
| Sterling Bank Declares 29% Increase in Profit, Proposes N0.15 Dividend – Thisday |
| Sterling Bank Plc has reported a growth of 29 per cent in its profit after tax for 2022 to N19.3billion in comparison to N15 billion as reported by the bank for the end of the 2021 financial year. The lender in its earnings on the floor of Nigerian Exchange Limited (NGX) disclosed N175billion gross earnings in 2022, an increase of 17 per cent from N1550billion recorded in 2021.. .. .. .,……. .. …… . ….. . … …………….……..Read More |
| Transcorp Reward Shareholders Amid Divestment in Key Sectors – Thisday |
| Transnational Corporation Plc (Transcorp) Plc expansion in key sectors in Nigeria has continued to bring to shareholders robust returns on investment amid global and domestic challenges. The diversified conglomerate in Power, Oil & gas, Hospitality in 2022 financial year paid a dividend of N2.03billion as against N812.96million in 2021, being 5 kobo per share on the outstanding ordinary shares of 40,647,990,293 shares of 50 kobo each…. .. .,……. .. …… . ….. . … …………….……..Read More |
| Lafarge shareholders okay N32 billion total dividend – Guardian |
| Shareholders of Lafarge Africa Plc have approved a total dividend of N32 billion, translating to 200 kobo per share due to every investor of the company for the 2022 financial year. Addressing shareholders at the company’s yearly general meeting held in Lagos, the Chairman of the company, Adebode Adefioye, said the domestic cement market remained strong with sustained demand,….,…. .,……. .. …… . ….. . … …………….……..Read More |