7
Aug
August 7, 2023
| Banks lose 2.1% in one week as investors stake N29.6 billion – Guardian |
| The banking index led the losers’ chart at the end of last week’s transactions on the equities sector of the Nigerian Exchange Limited (NGX) with 2.1 per cent. The downturn was impacted by sell pressure in Ecobank TransNational Incorporated (-7.9 per cent) and Fidelity Bank Plc (-6.5 per cent). Following the sector last week was the oil & gas index, shedding 0.7 per cent. The losses were occasioned by price depreciation in Eternaoil Plc (-26.7 per cent) On the other hand, the insurance and consumer goods indices topped the gainers’ chart with 5.9 per cent and 2.3 per cent… …………….. .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
NGX Attracted N369.83bn FGN Bonds, Equities, Other Listings in Seven Months – Thisday |
| The Nigerian Exchange Limited (NGX), attracted a total of N369.83billion new listings across equities, FGN Bonds, mutual funds, and derivatives categories in seven months of 2023 THISDAY analysis of market numbers has revealed. The numbers obtained by THISDAY revealed that corporate entities shun listing on NGX as FGN Bonds dominated listing on the bourse in the period under consideration., . … …………….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Bank shareholders protest as directors borrow N113bn – Punch |
| The directors and associates of Union Bank of Nigeria, Stanbic IBTC Holdings, Sterling Bank and Access Holdings were granted N112.77bn loans in 2022, an analysis of the financial statements of the lenders has shown. The banks’ financial year results and accounts for the period ended December 31, 2022, showed that insider-related loans in Stanbic IBTC Holdings and Union Bank of Nigeria were the highest among the four banks. .. .. …,….. ………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Shareholders demand probe of Seplat’s legal fees – Punch |
| The Independent Shareholders Association of Nigeria has demanded a probe into the affairs of indigenous energy firm, Seplat Energy Plc, over the amount it spent on legal fees defending its Chief Executive Office, Roger Brown, in the first half of the year. This was revealed in a statement signed by the National Coordinator of ISAN, Moses Igbrude, and the Executive Director of Make A Difference Initiative, Lemmy Ughegbe.:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Lafarge Africa Declares 18% PBT Growth in H1 2023 – Thisday |
| Lafarge Africa Plc has declared N55.32 billion profit before tax in half year (H1) ended June 30, 2023, an increase of 18per cent from N46.88 billion reported in half year ended June 30, 2022. The cement maker on the Nigerian Exchange Limited (NGX) reported N35.48billion profit after tax in H1 2023, a decline of 5.2 per cent from N37.41billion in H1 2022, attributable to 109.5per cent growth in tax expenses in the period under review to N19.84billion as against N9.47billion in H1 2022……… … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
FG Partners Wema Bank To Establish Digital and SkillNovation Hubs Across States – Nairametrics |
| Wema Bank, Nigeria’s leading innovative bank, has partnered with the Federal Government of Nigeria to establish digital and skill innovation hubs across states in the country, with a target to empower one million youths with digital and other relevant skills. The initiative, known as FGN/ALAT Digital and SkillNovation Hub, was agreed upon during a meeting between representatives of the bank and Vice President Kashim Shettima in Abuja, aligning with President Bola Tinubu’s administration’s commitment to creating more digital jobs for young Nigerians………. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Underwriter declares N12.4b GPW – Guardian |
| An underwriting firm, Prestige Assurance Plc, has declared a gross premium written (GPW) of N12.4 billion, an increase of 34 per cent, as of the end of the 2022 financial year compared to N9.27 billion recorded in 2021. Speaking at the company’s yearly general meeting, the Chairman of the company, Funmi Oyetunji, said the underwriter has displayed resilience by growing the top line despite the challenging macroeconomic backdrop. Oyetunji also said the net premium earned during the period under review was N5.4 billion, an 18 per cent increase compared to 2021’s N4.59 billion……….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |