Business

VFD Group Plc has migrated from N1.02 billion loss before tax in 2023 financial year to N12.46 billion profit before tax in unaudited financial year ended December 31, 2024.  The multi-sectoral investment Company, listed on  the main board of the Nigerian Exchange (NGX) declared N10.41 billion profit after tax in 2024 from a loss of N0.75 billion announced in 2023…

 The equities market on Wednesday extended its losing streak as investors profit–taking down the overall capitalisation by N289 billion. The All-Share Index declined by 467.77 basis points or  0.44 per cent, to close at 106,436.48 basis points. Similarly, the overall market capitalisation value shed N289 billion to close at N66.653 trillion. Investor sentiment, as measured by market breadth also closed…

FirstBank Plc on Wednesday broke the ground for a new corporate headquarters at the Eko Atlantic, Lagos. Vice President Kashim Shettima who represented President Bola Tinubu at the event performed the groundbreaking event. The event had many of the leading corporate executives, governors and business men and women in attendance. Among those who attended the event were Lagos State Governor…

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa has reaffirmed the agency’s commitment to fostering collaboration among researchers, technology experts, and academics to tackle national challenges through innovation and cutting-edge technology. Inuwa made this reaffirmation during a visit by the management of Nasarawa State University, Keffi (NSUK), led by the Vice Chancellor, Professor Sa’adatu Hassan…

Plans are underway towards building a United Kingdom/Nigeria National Cybersecurity Architecture as the National  Information Technology Development Agency (NITDA) is to facilitate UK/Nigeria Inward Cyber Trade Mission. Director-General National Information Technology Development Agency NITDA, Kashifu Inuwa at the meeting with some UK delegates on Monday in Abuja, said that President Bola Tinubu was committed to economic reforms and transformation, which…

Three cement manufacturing companies in Nigeria, Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc generated a sum of N984.7 billion profit before tax in 2024 financial year, about 40.5 per cent growth over N701.03 billion declared in 2023.  In the period under review, Dangote Cement generated N732.54 billion PBT, an increase of 32.4 per cent when compared to…

United Capital Plc has announced its Audited Financial Results for the year ended December 31, 2024 with profit before tax that grew by 74 per cent  year-on-year to N30.10 billion, profit after tax increased by 111 per cent year-on-year to N24.10 billion,  The company on the Nigerian Exchange Limited (NGX) announced that its  total Asset rose by 83per cent year-on-year…

Kunle Sanni The Federal Government is set to launch a new payment platform today to replace REMITA, the system previously used for revenue collection. According to a memo from the Office of the Accountant General of the Federation, dated February 28 and reported by PUNCH, the new platform, called the Treasury Management & Revenue Assurance System (TMRAS), aims to enhance…

The Lagos State Internal Revenue Service (LIRS) has called on all individual taxpayers, including self-employed individuals, those in the informal sector, and employees under the Pay-As-You-Earn (PAYE) scheme, to submit their Annual Tax Returns on or before March 31, 2025. The Head, Corporate Communications, LIRS, Monsurat Amasa-Oyelude in statement stated that the directive is in accordance with the Personal Income Tax…

……As SEC launches Podcast As the world marks International Women’s Day, Nigerian women have been encouraged to explore investment opportunities in the capital market as a pathway to wealth creation. The Minister of State for Finance, Dr. Doris Uzoka-Anite, made this call during the official launch of the Securities and Exchange Commission (SEC) Podcast in Abuja on Monday. She emphasized…