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Daily Business News Brief – May 21st, 2024

21
May

NGX market cap gains on first trading day – Dailytrust
After a bearish performance in the previous week, the local bourse yesterday opened on a positive trend with the market eking out 5 basis points (bps) to settle at 98,176.58 points.
Sustained investors’ interest in MTNN (+2.68%), and renewed interest in TRANSCOHOT (+3.03%) were the primary drivers of the overall market’s performance, according to analysis by Coronation Registrars… ……………………………………………………………………………………………………………………………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
JAIZ Bank grows profit by 67% – Punch
Jaiz Bank Plc grew its profit before tax by 67 per cent to N11.1bn in 2023.
The bank disclosed this in a statement on Monday as it filed its 2023 audited results on the Nigeria Exchange Limited portal.
Jaiz Bank is a pioneering non-interest bank in Nigeria, providing ethical services to individuals, and corporate and government entities since 2012. ….. ………………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Airtel Africa repays $550m bond – Punch
Telecommunications and mobile money services provider, Airtel Africa, has revealed that its subsidiary, Bharti Airtel International (Netherlands) B.V., has repaid in full its $550m bond maturing Monday.
This was disclosed in a corporate filing with the Nigerian Exchange Limited signed by Group Company Secretary, Simon O’Hara on Monday……………………… . … .. .,…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
UBA will meet N500bn capital base before deadline – CFO – Punch
The Executive Director of Finance and Risk Management for United Bank for Africa, Ugochukwu Nwaghodoh, has said that the banking group would meet the new capital requirement before the March 2026 deadline given by the Central Bank of Nigeria.
He stated this on Monday at the 75th International Global Media Conference held at the bank’s headquarters in Lagos… …. . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
UBA sustains market lead with N18tr deposits
• Shareholders’ funds hit N2tr – TheNation
The United Bank for Africa (UBA) Plc has grown its deposit base to N18 trillion and  shareholders’ funds to N2 trillion, its Group Managing Director/CEO, Oliver Alawuba announced yesterday.
Speaking during a world press conference organised by the bank in Lagos to mark its 75 years of banking excellence, he said the bank has in the course of the years, demonstrated resilience, stability and excellence in serving its over 45 million customer base. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Transcorp Power Shareholders Approve N23.46bn Dividend, Commend 2023 Performance – Thisday
The shareholders of Transcorp Power Plc approved the management’s N23.46 billion dividend payout to shareholders and 2023 impressive performance at its recently concluded 11th Annual General Meeting (AGM).
The power subsidiary of Transnational Corporation Plc (Transcorp Group), announced impressive financial performance at its first AGM since the it went public, via a listing by introduction of its shares, early March 2024…..,.. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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