Business

…Gives free medical checks, drugs, wheelchairs Dangote Cement, Ibese Plant at the weekend extended the frontier of its social investments in the wellbeing of its 17 host communities when it hosted the senior citizens in the communities offering them free medical services and mobility equipment for the people with disabilities including wheelchairs The Company said the gesture was aimed at…

The Nigerian equities market rebounded from the previous week’s decline. The Nigerian Exchange Limited All-Share Index (NGX ASI) ended the week 0.50 per cent higher to close at 97,722.28 points. Similarly, market capitalisation gained N295 billion week-on-week (W-o-W) to close at N59.215 trillion. Across the sectoral front, performance was largely positive. Consequently, the NGX Insurance, NGX Banking and NGX Consumer…

The Nigerian Electricity Regulatory Commission (NERC) has announced that it was shutting down its forum offices in some states in Nigeria and handing over their operations to the respective electricity commissions of the affected states. The commission noted that it had officially transferred regulatory authority to Enugu, Ekiti, Kogi, Edo, Ondo, Imo and Oyo states, in accordance with the new…

In reflection of its dedication to fostering a workplace culture that prioritises employee empowerment, inclusivity, and gender equity, leading full-service commercial bank, Access Bank PLC has been named as the only Nigerian company on the 2024 World’s Best Employers List by Forbes. As one of only 13 African companies to receive this distinction amongst the 850 ranked on the list,…

The National Bureau of Statistics (NBS) on Friday disclosed that Consumer prices in Nigeria increased by 118 basis points to 33.88per cent in October 2024 from 32.70 per cent in September 2024. According to the report, On a month-on-month basis, headline inflation increased by 12 basis points to 2.64per cent (September: 2.52per cent m/m). Food inflation rose significantly by 139basis…

 United Bank for Africa (UBA) Plc, said it will raise N239.4 billion through a Rights Issue of 6,839,884,274 ordinary shares of 50 kobo each at N35.00 per share. The Rights Issue, which opened on Friday, November 15, 2024, gives existing shareholders the opportunity to purchase additional shares in proportion to their current holdings and is being offered based on one…

…endorses Oyedeji as new GMD The shareholders of FBN Holdings Plc unanimously approved a total of N14.4 billion as dividend for the financial year ended Dec. 31, 2023. They gave the approval at the company’s 12th Annual General Meeting which was conducted virtually. The approved dividend translated to 40k per share. At the Annual General Meeting, Dr Alimi Abdul-Razaq, representing…

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd). The Chief Corporate Communications Officer, NNPC Ltd, Mr. Olufemi Soneye in a statement on Thursday said the feat was achieved in compliance with the mandate of President Bola…

Access Holdings Plc on Thursday announced that its banking group’s, subsidiary The Access Bank UK Limited (Access UK) has entered into a binding agreement to acquire a majority equity stake in Afrasia Bank Limited (Afrasia Bank), the Republic of Mauritius’ fourth largest bank by total assets. Company Secretary, Access Holdings, Sunday Ekwochi in a statement on the Nigerian Exchange Limited…

…Abdullahi, Ntia as EVP, Downstream, Upstream respectively The Nigeria National Petroleum Company Limited (NNPCL) has sacked Umar Ajiya, the Chief Financial Officer (CFO), and appointed Mr Adedapo A. Segun to replace him as the CFO. Mr Segun has held the position of Executive Vice President for Downstream, where he played a crucial role in enhancing the company’s downstream operations. NNPCL…