Company Report
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Q3 2026: Guinness Nigeria declares 53.05% increase in profit to N40.7bn
Guinness Nigeria Plc on Wednesday announced N40.69 billion profit after tax in its unaudited third quarter (Q3) ended September 30, 2026, about 53.05 per cent increase over N26.59 billion reported in its unaudited third quarter (Q3) ended September 30, 2025. The multinational company on the Nigerian Exchange Limited (NGX) posted N61.65 billion profit before tax in Q3 2026, which is…
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Despite decline in revenue, Transcorp Hotel grows before tax by 0.55% in Q3 2026
Despite a drop in revenue, Transcorp Hotels Plc has announced its unaudited third quarter (Q3) ended September 30, 2026 with profit before tax at N22.53 billion, a growth of 0.55 per cent from N22.4 billion reported in the third quarter (Q3) ended September 30, 2025. The company posted N69.46 billion revenue in Q3 2026, a 2.66 per cent drop from…
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Nigerian transport company Amalgamated begins CNG bus deployment in Lagos
Nigerian transport company, Amalgamated Megacity Transport Services Limited, has begun deploying Compressed Natural Gas (CNG) buses in Lagos as part of efforts to support the state’s transition to cleaner and more sustainable public transportation. The investment is part of the Lagos State Bus Industry Transition Programme (BITP), under which transport operators are taking greater responsibility for investing in modern buses…
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Multi-Trex Integrated Foods declares N422.2m loss in 2025
Multi-Trex Integrated Foods Plc has announced its full year result and accounts for April 31, 2025 with a loss of N422.2million as against N510.9 million reported in the full year ended April 31, 2024. The consumer goods company quoted on the Nigerian Exchange Limited (NGX) also reported N422.6 million loss before tax in 2025, about 191 per cent drop from…
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FAAN to deploy biometric gates, digital passenger systems at Lagos airport
The Federal Airports Authority of Nigeria (FAAN) plans to introduce biometric gates and other digital systems at the Murtala Muhammed International Airport (MMIA), Lagos, to improve passenger processing and bring the facility closer to global standards. FAAN Managing Director, Mrs Olubunmi Onabanjo-Kuku, disclosed this on the sidelines of the 35th Airport Council International (ACI-Africa) conference in Abuja, saying the planned…
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Flutterwave appoints former Access Holdings executive as global CFO
Flutterwave, one of Africa’s leading payments companies, has appointed Morounke Olufemi as its new Global Chief Financial Officer (CFO), following the departure of Mitesh Popat, who stepped down to co-found a new venture. Olufemi, who previously served as Flutterwave’s CFO for Europe, the Middle East and Africa (EMEA), brings more than 24 years of experience in multinational finance, strategy and…
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PalmPay wins Leadership Fintech Company of the Year 2026 award
PalmPay, a leading digital banking platform, has been named the Fintech Company of the Year 2026 by Leadership, a Nigerian media organisation. The award recognises the company’s contributions to Nigeria’s financial services sector, particularly its focus on digital banking, financial inclusion and the development of payment solutions for individuals and businesses. PalmPay, a licensed Mobile Money Operator, has operated in…
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PAPSS records seven-second cross-border payment settlements, unveils future plans
The Pan-African Payment and Settlement System (PAPSS) has reached the end of its first strategic plan, with its Chief Executive Officer, Mike Ogbalu, announcing that the platform now connects 30 African countries. Speaking at a press conference in Lagos on Friday, Ogbalu said PAPSS was averaging seven-second settlement times for cross-border payments in local currencies, compared with the three-to-five-day delays…
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PZ Cussons Nigeria records N260.46bn revenue in 2026FY
…proposes dividend payment of N2.50k per share The Board of Directors of PZ Cussons Nigeria Plc, a leading manufacturer of personal healthcare products and consumer goods, recorded N260.46 billion in revenue for the 2026 financial year, representing 22% growth, compared with N212.63 billion in the corresponding period in 2025. The Board has proposed a dividend payment of N2.50k per share,…
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Ibom Air denies monopoly over operations of Victor Attah Airport
Ibom Air has dismissed claims that it exercises a monopoly over operations at the Victor Attah International Airport, Uyo, or prevents other airlines from operating from the airport. The airline, in a statement issued on Sunday, said it had no authority or regulatory power to prevent another carrier from operating from Uyo or any other airport in Nigeria. Ibom Air…
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