10
May
May 10, 2023
| Transcorp shares up by 9.50 per cent after two weeks of price correction – Guardian |
| After days of downturn, shares of TransNational Corporation of Nigeria (Transcorp) closed higher at the end of yesterday’s transactions on the equities sector of the Nigeria Exchange Limited (NGX). The stock price rose by 9.5 per cent to close at N1.96 kobo from N1.88 kobo at which it opened for transactions yesterday. Recall that the stock led the losers’ chart at the end of last week’s transaction, shedding 30.96 per cent to close at N1.94 kobo from N2.81 kobo at which it opened for transactions last week Tuesday.,…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
Foreign loans will shrink, IMF warns Nigeria – Punch |
| The International Monetary Fund has warned Nigeria to expect a significant reduction in foreign loans as the global economy continues to experience new shocks and contractions. The IMF Deputy Divisional Chief, Wenjie Chen, stated this during a keynote presentation at the International Monetary Fund Regional Economic Outlook which was held in Lagos on Tuesday. According to Chen, borrowing costs, high-interest rates and the increasing value of the dollar have continued to put a strain on Nigeria’s economy and that of its Sub-Saharan African counterparts’……. ………. …………. . ….. . … …………….……..Read More |
Airtel pays N58.7 billion for licence renewal – Guardian |
| Airtel Africa has announced that its Nigerian subsidiary, Airtel Networks Limited (Airtel Nigeria), paid N58.7 billion to the Nigerian Communications Commission (NCC) to renew its 2×10 MHz 2100 MHz spectrum licence. This was contained in a statement to the Nigerian Exchange Limited (NGX), which was signed by Company Secretary, Simon O’Hara. The statement noted that once renewed, the license would be valid for 15 years, following the expiry of the previous licence on April 31, 2022… .. .. .,……. .. …… . ….. . … …………….……..Read More |
Seplat’s AGM Mired in Controversy as CAC Pulls Out, Cites Court Order – Thisday |
| The planned Annual General Meeting (AGM) of Seplat Energy Plc is under threat as the Corporate Affairs Commission (CAC) has pulled out of the indigenous energy giant, citing an order made by Justice Inyang Ekwo of the Federal High Court, Abuja, restraining the present directors from conducting the exercise pending the resolution of the issues. This is as the Board Chairman of Seplat Energy Plc, Mr. Basil Omiyi, yesterday disclosed that the company would hold its scheduled AGM today, in compliance with the final and binding judgment of an Abuja Federal High Court., … .. .,……. .. …… . ….. . … …………….……..Read More |
Otedola fumes over Transcorp deal, Elumelu keeps mum – Punch |
| Billionaire businessman, Femi Otedola, on Tuesday, said his offer to buy Nigerian conglomerate, Transnational Corporation Plc, for N250bn was rejected. Otedola made some allegations against the Chairman of Transcorp, Tony Elumelu, in a statement he issued to TheCable, weeks after he acquired stakes in Transcorp and sold the shares. Otedola revealed that he had bought the shares of the organisation because he believed in the potential of the Group to hit N2tn in valuation..,….,…. .,……. .. …… . ….. . … …………….……..Read More |