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Daily Business News Brief – May 7th, 2024

7
May

Capitalisation dips by N500b amid selloff in Airtel Africa, 17 others – Guardian
The domestic equities market reopened on a downturn yesterday declining by N500 billion, amid a selloff in Airtel Africa and 17stocks
The All-Share Index (ASI) shed 883.57 points, representing a loss of 0.89 per cent to close at 98,703.68 points. Also, market capitalisation declined by N500 billion to close at N55.823 trillion… …………………………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
DMO offers two FGN savings bonds for subscription – Guardian
The Debt Management Office (DMO) has opened two federal government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit
The first offer is a two-year savings bond due to mature on May 15, 2026, at 17.407 percent per annum while the second is a three-year savings bond due to mature on May 15, 2027, at an interest rate of 18.407 percent per annum.. ………………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Access, Fidelity, FBNH see biggest jump in dividend payout as profit soars – Businessday
Shareholders of Access Holdings Plc, Fidelity Bank Plc and FBN Holding Plc smiled to the bank like never before in 2023.
The three banks recorded the largest growth in dividend payments to their shareholders last year, thanks to a surge in profit. 
According to the latest annual financial statements of the nine banks surveyed by BusinessDay, … .. .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
SEC takes strong stance against illegal trading of virtual assets – Punch
The Securities and Exchange Commission has reaffirmed that it will go all out to act decisively to uphold the integrity of the capital market and protect the interests of all investors.
This was stated by the Acting Director-General of the SEC, Dr Emomotimi Agama, during a virtual meeting with the Blockchain Industry Coordinating Committee of Nigeria the umbrella body of all major blockchain and cryptocurrency Associations in Nigeria, Monday.  …. . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Seplat to deliver 13 new oil wells in 2024 – Punch
Seplat Energy Plc has announced its drilling program for 2024 with plans to deliver 13 new oil and gas wells across its operated and non-operated assets.
The company disclosed this in its unaudited results for the first quarter ending March 31, 2024.
“The breakdown of the new wells includes 11 dedicated to oil production and two focused on gas production,” it said…., . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
At N13.8bn, Transcorp Hotels Breaks All-time Revenue Record in Q1 2024 – Thisday
Transcorp Hotels Plc, has sustained its remarkable financial performance as shown in its released first quarter (Q1) ended March 31, 2024 unaudited financial statements posted on the floor of the Nigerian Exchange Limited (NGX).
The hospitality subsidiary of one of Africa’s leading, listed conglomerates Transnational Corporation Plc (Transcorp Group), declared N13.8 billion revenue in Q1 2024, an increase of 72per cent from N8 billion reported in Q1 2023.. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Cadbury Nigeria grows revenue by 43% in Q1’24 – Vanguard
Cadbury Nigeria Plc has announced revenue of N23.695 billion for the first quarter ended 31 March 2024 (Q1’24).
This represents an increase of 43 percent over the N16.563 billion recorded in the same period in 2023.
The company also announced an operating profit of N2.760 billion in the first quarter of 2024,.. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Nestle Nigeria grows revenue by 43% to N183.5bn in Q1’24 – Vanguard
Nestle Nigeria Plc has posted a 43.4 percent Year-on-Year (YoY) increase in its revenue for the first quarter ended March 31, 2024 (Q1’24).
Specifically, the company grew its revenue to N183.5 billion in Q1’24 from N128 billion in the corresponding period in 2023, Q1’23. .. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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