Company Report
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Wema Bank: Eight decades of resilience, transformative financial institution
Known to have commenced operations 1945, Wema Bank Plc has stood the test of time and withstand numerous challenges to be recognized as one of Nigeria’s leading financial institutions. Our correspondent examines the journey so far, source stories and future ahead. In the beginning… It was 1945 and the world was emerging from the shadows of war, and Nigeria was…
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Moniepoint is a true Nigerian success story, says Amb. Tuggar
In a move that bolsters investor confidence in Nigeria’s burgeoning fintech sector, the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, visited the UK offices of Moniepoint Inc., a leading Nigerian financial institution, during his high-level working visit to the United Kingdom. The visit, aimed at strengthening diplomatic ties and fostering strategic cooperation between Nigeria and the UK, underscored Nigeria’s…
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Transcorp Group declares 132% growth in profit to N136.7bn
Transnational Corporation Plc has announced its audited financial statement for full year ended December 31, 2024 that showed a profit before tax of N136.7 billion. This is 132per cent growth in PBT when compared to N58.8 billion in the previous year. The Nigeria’s leading conglomerate on the Nigerian Exchange Limited (NGX) declared N94.1 billion profit after tax, a growth oof…
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GMAP initiative: UBA invests in future leaders, inducts 3222 young professionals
United Bank for Africa (UBA) Plc, continues to make significant impact in birthing the next generation of banking and finance professionals on the continent through its Graduate Management Acceleration Programme (GMAP) which to date has produced over 3,222 young professionals across Africa. Since inception three years ago, the GMAP, designed to equip entrants with the necessary skills and knowledge, has…
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Seplat Energy declares N1.65trn revenue in 2024FY
… Declares us 16.5 cents total dividend per share Seplat Energy Plc has announced its audited results for the full year ended 31 December 2024, with a N1.65 trillion revenue, about 137per cent increase over N696.87 billion declared in 2023 financial year. The 2024 financial year performance of the company culminated with the transformational acquisition of Mobil Producing Nigeria Unlimited…
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BREAKING: Dangote Cement grows profit by 10% to N503bn in 2024
Dangote Cement Plc on Saturday announced N503 billion profit after tax in full year ended December 31, 2024, about 10 per cent increase over the N456 billion reported in full year ended December 31, 2023. The Cement maker on the Nigerian Exchange Limited (NGX) from the profit & loss figures declared N3.58 trillion revenue in 2024, a growth of 62…
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Nestlé Nigeria declares N221.6bn losses in 2024
Nestlé Nigeria Plc has reported a staggering loss before tax (LBT) of N221.589 billion for the financial year ended December 31, 2024, marking a 113per cent year-on-year (YoY) decline from 2023. The sharp downturn was primarily attributed to surging finance costs, exacerbated by the persistent devaluation of the Naira.However, the multinational food and beverage giant staged an impressive rebound in…
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Lafarge Africa grows profit by 96% to N100.15bn in 2024
Lafarge Africa Plc has declared N100.15 billion profit in financial year ended December 31, 2024, about 96 per cent increase over N51.11 billion reported in 2023 financial year. The cement maker on the Nigerian Exchange Limited (NGX) announced N152.52 billion profit before tax, representing an increase of 89 per cent from N80.7 billion declared in 2023 financial year. From the…
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MTN Group projects sharp decline in EPS over FX losses from Nigeria
MTN Group has alerted its shareholders that it is anticipating a significant decline in its earnings per share (EPS) for the full year ended December 31, 2024 primarily due to foreign exchange losses recorded from Nigeria. The Group disclosed this in a trading statement released on Thursday. This was in fulfillment of the Johannesburg Stock Exchange listing requirements that issuers…
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Transcorp Hotels announces 144% profit growth in 2024FY
Transcorp Hotels Plc, has posted a stellar financial performance for the 2024 fiscal year, achieving a record-breaking N70.13 billion in revenue and a 144 per cent jump in profit after tax. The company’s latest audited results, filed with the Nigerian Exchange (NGX), reflect its strong operational strategy and expansion efforts. The financial report shows significant growth across key areas. Revenue…
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