Business

United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2024, with all its major indicators witnessing significant improvement. The 2024 financials, filed with the Nigerian Exchange Limited (NGX) on Monday, showed an impressive rise in the bank’s profit after tax which went up by 26.14 per cent to close the…

United Bank for Africa Plc (UBA) on Monday announced N803.73 billion profit before tax in its audited result and accounts for the period ended December 31, 2024. This is about 6.08per cent increase over N757.68 billion declared in 2023 financial year.  Amid significant increase in profit, the management of UBA proposed a final dividend of N3.00 per share (31 December…

The Securities and Exchange Commission (SEC) has reiterated its zero tolerance for fraudulent activities in Nigeria’s capital market, warning that unscrupulous operators will face severe regulatory actions. SEC Director-General, Emomotimi Agama, made this known in an interview over the weekend, emphasizing that the Commission will intensify its crackdown on non-compliant operators through license revocations, suspensions, and stricter enforcement measures. “And…

Enugu State Governor, Peter Mbah, has reaffirmed his administration’s commitment to generating N600 billion in Internally Generated Revenue (IGR) for 2025. He stated that the increased revenue would drive major development projects across the state. Speaking during his investiture as President of the Enugu Sports Club on Saturday, Mbah emphasized the state’s shift from reliance on federal allocations to a…

The Tony Elumelu Foundation (TEF) has announced a $15 million grant to support 3,000 young entrepreneurs across 52 African countries. The announcement was made by TEF Founder, Tony Elumelu, during the unveiling of the 2025 cohort of the foundation’s Entrepreneurship Programme in Abuja on Sunday. Each beneficiary will receive a $5,000 non-refundable seed grant to launch or scale their businesses.…

The Managing Director, Nigerian Railway Corporation (NRC), Dr Kayode Opeifa and his team recently visited the Agege Train station also known as Babatunde Fashola station to reinforce its commitment to inclusiveness in transportation services in Nigeria.  Opeifa  in a tweet on X  said, “In continuation of our facilities and critical assets assessment, where we evaluated existing facilities in line with…

For compliance to the post listing requirement, Mutual Benefits Assurance Plc escaped delisting from Nigerian Exchange Limited (NGX) as the management submitted required result and accounts for period ended 2023.   The company declared a profit before income tax of N6.28 billion in 2023, 289 per cent increase over N1.611 billion in 2022. In the management bid to escape delisting from…

Amid Central Bank of Nigeria (CBN) recapitalization, Sterling Financial Holdings Company Plc has listed N75 billion worth of shares on the Nigerian Exchange Limited (NGX). The lender in the statement announced to the investing public the listing of 16,666,666,667 Ordinary Shares of 50 Kobo each at N4.50 per Share Offered through Private Placement. Trading licence Holders are hereby notified that…

The Nigerian equities market has depreciated by N532 billion in one week to extend its bearish run for the fourth consecutive week.  The market capitalisation closed on Friday at N65.82 trillion, a decline of N532 billion from N66.352 billion it opened for trading.  The losses in BUA Cement Plc dipped by 10 per cent, Transcorp was down by 7.8per cent…

The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, has expressed that life is not worth living without ambition, calling on 50 Harvard scholars to rise above limitations and push their ambitions to help transform the world into a better place The prominent industrialist made this call recently when a delegation of Harvard Kennedy School scholars visited the Dangote Petroleum Refinery…