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Daily Business News Brief – September 28th, 2023

28
Sep

Nigerian banks incur $1billion in loan losses, blame macro-economic conditions – Nairametrics
Nigeria’s leading commercial banks suffered loan losses estimated at a combined $1 billion in the first half of 2023. 
This is according to data collated from the 2023 half-year financial statements released by the banks in the last few weeks.,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Dangote Foods to emerge after three subsidiaries’ merger – Punch
The mega entity that will emerge from the proposed merger of  three subsidiaries of Dangote Industries Limited, two of which are listed in the Nigerian stock market, will be known as Dangote Foods Plc, The PUNCH can confirm.
Dangote Foods Plc, planned to be a more diversified and profitable mega company within the Dangote group, is expected to revolutionise the agriculture industry, ensuring food security for the nation…,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Transcorp Hotels chair restates commitment to corporate governance – Punch
Emmanuel Nnorom, the chairman of Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group, has affirmed the organisation’s commitment to sound corporate governance.
Nnorom spoke in a statement on Wednesday as Transcorp Hotels achieved full compliance with the Nigerian Exchange’s free float requirement for companies listed on its Main Board…,. …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Access Holdings declares 30 kobo interim dividend for H1 – Guardian
Access Holdings Plc has announced an interim dividend of 30 kobo, even as the bank posted profit after tax (PAT) of N135.44 billion in its half year (H1)operations, against N88.74 billion achieved in the corresponding period in 2023.
Specifically, the banks audited financial statement for the half year showed that PAT rose by 52.63 per cent from N88.74 billion to N135.44 billion.. …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Wema Bank, Selar partner on digital economy – The Nation
Wema Bank has partnered Selar, Africa’s largest creator platform, to empower African creatives and bridge the prevalent gaps in the creative space.
The partnership has birthed a webinar entitled: “The digital economy and the future of work”, a learning and problem-solving webinar aimed at helping Africans, especially Nigerian-creators to maximise their potential and leverage ., … …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Stanbic IBTC celebrates achievements at global banking award – Guardian
Stanbic IBTC Bank Plc has announced its recent recognition at the prestigious Global Transaction Banking Innovation Award presented during a gala event held on Thursday.
The award acknowledged Stanbic IBTC’s exceptional contributions and innovation in transaction banking.
The award acknowledged Stanbic IBTC’s exceptional contributions and innovation in transaction banking….. …………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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