Company Report
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Africa Prudential reports 19% increase in PBT to N1.61bn
Africa Prudential Plc has announced its unaudited third quarter (Q3) financial statements for the period ended September 30th, 2022, with profit before tax gaining 19 per cent to N1.61billion compared to N1.35billion reported in Q3 2021. The leading registrar, investor services and business support solutions provider company on the Nigerian Exchange Limited (NGX) announced 12 per cent increase in profit…
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Airtel Africa slumps in market cap, loses N1.83trn in three days
Investors in Airtel Africa Plc have continued to count their losses as the telecom giant’s share price fell for the third consecutive day on Wednesday. The stock has now recorded a cumulative loss of N1.83 trillion. Since the Nigerian bourse opened for weekly trading on Monday, the telecom stock has continued to slide in what market operators have described as…
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Gulfstream enters agreement with ExecuJet Aviation to provide warranty, maintenance service
W’Africa Gulfstream Aerospace Corporation has announced a new authorised warranty facility agreement with ExecuJet Aviation Nigeria (EJAN) in Lagos, to provide warranty and maintenance service and spare parts for Gulfstream G450, Gulfstream G550, Gulfstream G650 and Gulfstream G650ER aircraft in West Africa. The 275,000-square-foot/25,548-square-meter VIP aircraft terminal facility encompasses an international departure/arrival terminal, fixed based operator (FBO) and maintenance facility.…
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BUA not interested in Kogi land, says management
The management of BUA International Limited has disclosed that it is not interested in any land in Kogi State, highlighting lack of infrastructure, insecurity, and outcome of feasibility studies that showed that the land is not suitable for business. The management, in its response to the Director-General, Bureau of Lands and Urban Development in Kogi State with titled; ‘Re: Demand…
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Lafarge SA fined $777m, pleads guilty to paying ISIS
Lafarge SA on Tuesday pleaded guilty and agreed to pay $777.8 million to resolve a U.S. federal criminal charge related to the French company’s payments to ISIS and another terror group to keep a cement plant operating in Syria. The $10.24 million in payments to ISIS, the al-Nusrah Front and intermediaries were made from August 2013 through October 2014, and…
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Our acquisition of Obajana Cement plant followed due process, says Dangote
The management of Dangote Industries Limited has insisted that its acquisition of the Obajana Cement Plc in 2002 followed due process, contrary to claims by the Kogi State government. The conglomerate asserted that Kogi State government has no equity interest in Obajana Cement Plc. It also stated that the company as a responsible corporate organisation has been paying relevant taxes,…
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Dangote Cement refutes involvement in Kogi assembly fire outbreak
The management of Dangote Cement Plc has refuted claims of its involvement in the fire outbreak that happened at the Kogi State House of Assembly complex. Earlier on Monday, WesternPost had reported that parts of the House of Assembly in Lokoja was gutted by fire and Dangote cement was accused of allegedly sponsoring arsonists to set the complex on fire.…
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Airtel Africa loses N752bn in market cap
Airtel Africa Plc, one of the major telecommunications companies quoted on the Nigerian Exchange (NGX) recorded a loss of N752 billion at the end of weekly trading to rank among the top losers of the week, following sustained sell pressure witnessed on the stock. The telecoms company’s stock dropped by 10per cent to N1,800 per share, from N2000, which was…
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MAN condemns invasion of Dangote Cement plant by Kogi govt
The Manufacturers Association of Nigeria (MAN) has strongly condemned Wednesday’s invasion of Dangote Cement Plant by the state’s security outfit, the Vigilantes, on the order of Governor Yahaya Bello, noting that such action will discourage new investments in the state. The president, MAN, Mansur Ahmed, at a press conference to herald its 50th Annual General Meeting (AGM) scheduled to hold…
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Fidelity Bank to showcase best of Nigeria’s non-oil exports to international markets
In continuation of its bid to help Nigerian businesses compete favourably in international markets, leading financial institution, Fidelity Bank Plc, has announced plans to host the maiden edition of the Fidelity International Trade and Creative Connect (FITCC). Scheduled to hold next week in London, United Kingdom, FITCC will host leading businesses, entrepreneurs, investors and regulators operating in the commodity, service,…
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