6
Nov
November 6, 2023
| FG policies, listings drive N1.7tn October’s gain on NGX – Punch |
| The market capitalisation of the Nigerian Exchange Limited appreciated by five per cent during the month of October to result in a gain of N1.707tn for investors. NGX market cap had closed September at N36.331tn and closed October at N38.038tn while the All-Share Index moved up by 2,854.05 basis points or 4.29 per cent to close the month at 69.236.19………… .. . .,.. ………… …….. ………………… … .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Capital market operators need to embrace tech – FinTechNGR, SEC – Punch |
| Capital market operators have been urged to harness technology’s potential to boost their operations while being cautious of associated risks. This was stated by the President, FinTech Nigeria, Ade Bajomo, during his keynote address at the 12th annual conference of the Institute of Capital Market Registrars over the weekend. . …………………………. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
CBN Gov, Cardoso vows to fight inflation •To focus on core mandate of price stability •Inflation has had massive impact on lives of Nigerians—Sanusi – Vamguard |
| The governor of Central Bank of Nigeria, CBN, Mr. Olayemi Cardoso, has said the bank, under his leadership, was determined to make its impact felt by curtailing inflation. He said: “At the end of our tenure, we want to look back and see that our policies have positively impacted people’s lives.” The bank disclosed yesterday that Mr. Cardoso restated the direction of his leadership while playing host to the Impact Investing Community…………,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Forex gains: Banks’ profits balloon by 156% to N2.3trn – Vanguard |
| Banks have recorded another round of extra-ordinary profits against the backdrop of foreign exchange revaluation gains arising from depreciation of the Naira. The financial reports turned in to the regulators by leading banks indicated a profit before tax of N2.292 trillion just in the nine months of 2023 About 63.6 per cent, amounting to N1.457 trillion of the profit came from foreign exchange related transactions…,………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
2023 9M: Nigeria Cement producers weather foreign exchange losses, maintain profitability amidst sector-wide declines – Nairametrics |
| Unlike other companies, especially those in the consumer goods sector, cement producers have shown resilience in the face of foreign exchange losses, maintaining profitability in the first nine months of the year. In the first nine months of the year, the three major cement producers; BUA Cement, Dangote Cement, and WAPCO (Lafarge) witnessed a significant increase in their foreign exchange losses averaging 441% YoY to N135.375 billion…,………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
PZ Cussons Posts 104% Growth In Pre-Tax Profit In FY 2023 – Independent |
| PZ Cussons Nigeria Plc in its financial results for the year ending May 31, 2023, posted a pre-tax profit of N20.46 billion during the FY, marking a year-on-year growth of 104% from the previous fiscal year. According to the results, the group generated a revenue of N113.96 billion during the fiscal year, marking a 15% year-on-year growth from the previous fiscal year. ..,………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Caverton Records Profit before Tax Despite Challenges – Thisday |
| Caverton Offshore Support Group Plc, the leading provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, has announces its unaudited results for the period ended 30th September 2023. The results show a Profit-Before-Tax of N47 million. Commenting on the results, Caverton’s Chief Executive Officer, Mr. Bode Makanjuola stated that this period has been marked by significant challenges,…,………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
UBA Reiterates Commitment to Connecting Africa’s Small Business – Thisday |
| In a renewed commitment to foster growth and improved Africapitalism in the continent, United Bank for Africa (UBA) has reiterated its committment to continuously support Africa’s business hubs across the continent. This is as the bank extols the Lagos State Chamber of Commerce and Industry (LCCI) for its visionary leadership in consistently hosting the trade fair as well as creating a veritable platform for businesses in Nigeria and Africa to thrive and prosper….,………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
JAIZ bank declares 73% PBT in 9 months of 2023 – Dailytrust |
| Jaiz Bank Plc, Nigeria’s leading non-interest bank, has reported strong financial performance in the nine months ended September 30, 2023, recording a pre-tax profit of N6.68 billion for the period. The result signifies an impressive year-on-year profit before-tax N23.67 billion growth of 73.72% compared to the same period in 2022…..,………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Unity Bank records N38.2bn gross earnings in Q3’23 – Dailytrust |
| Retail lender, Unity Bank Plc has recorded gross earnings of N38 billion for the nine-month period ended September 30, 2023, with customer deposits appreciating by 5% to N344.4 billion within the period, indicating business growth and customer confidence in the bank. A review of the lender’s unaudited nine-month results released to the Nigerian Exchange Group Limited showed that the bank continued to maintain its expansionary and customer-centric model. …..,………..,…………….. ….:,….. … ……….. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |