Business

The management of FBN Holdings Plc on Thursday insisted that it will hold its 11th Annual General Meeting (AGM), despite a court ruling to suspend the annual meeting with shareholders. A petition by Olusegun Samuel Onagoruwa upon which the order was obtained in suit No: FHC/L/CP/1271/2022 sighted by reporters and addressed to Nnamdi Okonkwo, FBN Holdings Chairman said: “Take notice…

MTN Nigeria Communication Plc, Dangote Cement and 21 other companies paid Federal Inland Revenue Service (FIRS), state revenue agencies a sum of N297.3billion as tax expenses in half year (H1) ended June, a decline of 11.6 per cent from N336.2billion in the corresponding half year of 2022. With some reporting losses due to hike in operating expenses and foreign exchange…

Investors negative sentiment extended on the Nigerian equities market on Wednesday as the overall market capitalisation closed N621 billion lower, marking its second successive session decline. The All Share Index (ASI) lost by 1,142.26 points or 1.75 per cent to close at 64,167.39 points. Also, market capitalisation declined by N621 billion to close at N34.919 trillion. Also, market breadth closed…

The equities market of the Nigerian Exchange Limited (NGX) commenced on Monday positive with a gain of N75 billion on investor interest in MTN Nigeria Communications (MTNN) Plc and 24 others. Hence, the All-Share Index rose by 138.63 per cent to close at 65,336.71 basis points. Similarly, the overall market capitalisation value gained N75 billion to close at N35.555 trillion.…

It is nothing for nothing that the President, he is called a great son of Nigeria and Africa. Days after clocking 63, billionaire philanthropist, Abdulsamad Rabiu reached out to National Drug Law Enforcement Agency (NDLEA) with his ever-presence helping hands. Through his Abdul Samad Rabiu Africa Initiative (ASR Africa) , the billionaire has donated 25 state-of-the-art operational vehicles to the…

Six banks generated N294.83 billion from customers’ Automated Teller Machine (ATM) charges, among other fee and commission income in the half year ended June 30, 2023. According to WesternPost findings, this is an increase of 24.23 per cent from N237.33 billion reported in H1 2022. The five banks are FBN Holdings, Ecobank Transnational Incorporated (ETI), Fidelity Bank Plc, Wema Bank…

Positive sentiments persisted on the equities market of the Nigeria Exchange Limited (NGX) on Thursday as investors’ buy-interest in MTN Nigeria Communications (MTNN) Plc and 50 others triggered a N542 billion increase. Eventually, the All Share Index (ASI) gained by 995.70 basis points or 1.55 per cent to close at 65,263.06 basis points. Also, market capitalisation gained N542 billion to…

Nigerian Exchange Limited (NGX) on Thursday announced the listing of the Federal Government’s N130 billion Sovereign Sukuk through the Debt Management Office (DMO) on its platform. The 10-year 15.64% Ijara Sukuk due 2032 was listed on bourse. According to DMO, the Sovereign Sukuk opened for subscription in November 2022 with an initial offer of N100 billion and garnered immense interest…

The United Kingdom (UK) through its Foreign, Commonwealth and Development Office (FCDO) has stated that it will continue to focus on building future investment links and collaborate with Nigerian Exchange Limited (NGX) to ensure Nigeria’s economic potential is unlocked. This was even as the UK government announced the Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) partnership with the Exchange…

The Securities and Exchange Commission (SEC) and the Capital Market Community are to partner with the Federal Ministry of Mines and Steel Development and other stakeholders to promote the use of alternative means of raising capital such as non-interest products, tokenization of assets as well as adopting technologies such as FinTech. This among others was contained in a communique issued…