- Economy
2025FY: Transcorp rewards shareholders with N20.3bn dividend
Transnational Corporation Plc has declared a total dividend of N20.3 billion, representing N2.00 per share to its shareholders, at its 20th Annual General Meeting (AGM), held in Abuja. The total dividend comprises an interim dividend payment of N4.06 billion, representing 40 kobo per share, paid in August 2025, together with a final dividend of N16.3 billion, equivalent to N1.60 per…
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FG begins repayment of N3.3trn power sector debts, says Transcorp President
The President and Group Chief Executive Officer of Transnational Corporation Plc, Owen Omogiafo, has revealed that the Federal Government has commenced repayment of N3.3 trillion longstanding debts owed to power generation companies. Omogiafo described the move as the most significant progress yet in resolving liquidity challenges in Nigeria’s electricity sector. Omogiafo disclosed this in an interview with journalists on the…
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NGX tightens compliance for online trading platforms
NGX Regulation Limited (NGX RegCo) has tightened compliance requirements for online trading platforms, warning that Trading Licence Holders (TLHs) deploying digital trading systems without prior regulatory approval could attract sanctions. The directive was contained in a recent circular signed by the Head of the Market Regulation Department, Chinedu Akamaka, and issued to all Trading Licence Holders, highlighting regulatory moves to…
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Unity Bank disburses over N500m through SHOCOF to support traders
As part of efforts to promote SMEs and strengthen support for operators in the informal sector, Unity Bank has continued to empower small-scale traders and shop owners across Nigeria through its initiative called Shop Collateralised Facility (SHOCOF) SHOCOF is an innovative loan product, and Unity Bank has disbursed over N500 million to beneficiaries, significantly improving access to financing, and further…
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Q1 2026: First Holdco declares 72% increase in profit
First Holdco Plc delivered a masterclass performance in its first-quarter 2026 financials, recording a 72per cent year-on-year profit before tax (PBT) growth. Profit before tax (PBT) jumped to N321 billion from N186.47 billion in the corresponding period of 2025, supported by steady interest-earning capacity and robust fee income generation. The first quarter of 2026 marked a definitive pivot for FirstHoldCo,…
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Dangote Cement, two other cement makers generate N762.97bn profit in Q1 2026
Dangote Cement Plc and two other cement manufacturing companies in Nigeria generated N762.97 billion profit before tax in the first quarter (Q1) ended March 31, 2026. This is about 57.4 per cent increase over N484.83billion generated in the first quarter (Q1) of 2025. The remaining two companies are BUA Cement Plc and Lafarge Africa Plc. The breakdown revealed that Dangote…
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Access Holdings clarifies dividend position amid strong 2025 earnings
Access Holdings Plc has reaffirmed its commitment to long-term shareholder value and sustainable returns, following a strong performance in the 2025 financial year, while providing clarity on the rationale for the nonpayment of dividends for the year ended December 31, 2025. The clarification was provided during the Group’s Full Year 2025 Investors and Earnings Call, where management addressed shareholder concerns…
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Equities market rebounds, gains N629bn
The Nigerian equities market staged a rebound, with the overall capitalisation gaining N629 billion. The All Share Index (ASI) gained by 979.36 points or 0.41 per cent to close at 242,729.51 points. Accordingly, market capitalisation rose by N629 billion to close at N155.781 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are;…
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Access Holdings to reduce stakes in foreign subsidiaries after CBN’s directive
Access Holdings Plc says it will reduce its equity stakes in some of its foreign banking subsidiaries to comply with a new regulatory limit set by the Central Bank of Nigeria (CBN). The chief executive officer (CEO) of Access Bank, Roosevelt Ogbonna spoke on the plan during an investor call in Lagos on Tuesday, according to a report by Bloomberg.…
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UBA, Redtech, MoMo PSB expand merchant payment access across Nigeria
United Bank for Africa (UBA), Redtech, and MoMo PSB have launched a payment interoperability partnership that expands cardless payment access for consumers and merchants across Nigeria. Redtech is backed by Heirs Holdings; MoMo PSB is MTN Nigeria’s fintech subsidiary. With this development, MoMo PSB customers can now make payments directly from their MoMo wallets at participating UBA merchant locations using…
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