Company Report
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Titan Trust Bank to acquire entire share capital in UBN at N7.00
Titan Trust Bank Limited is set to acquire the entire share capital held by minority shareholders in Union Bank of Nigeran plc at N7.00 per share. The Company Secretary, Union Bank of Nigeria, Somuyiwa Sonubi in a statement on the Nigerian Exchange Limited on Monday said the transaction would be implemented by way of a Scheme of Arrangement between the…
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FMDQ Exchange commemorates quotation of Greenwich Merchant Bank’s N12.20bn CPs
FMDQ Securities Exchange Limited (FMDQ Exchange) on Monday announced the approval for the quotation of the Greenwich Merchant Bank Limited’s N12.20 billion Series 1 and Series 2 Commercial Papers (CPs) under its N100 billion CP Issuance Programme on its platform. In commemorating the event, FMDQ Exchange held a Quotation Ceremony at its offices in April. Present to celebrate the successful quotation of…
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Lafarge Africa opens bag manufacturing plant at Ewekoro cement plant
As part of its commitment to continuously drive excellence and innovation in the manufacturing industry, leading innovative and sustainable building solutions company, Lafarge Africa Plc, has opened a state-of-the-art cement bag manufacturing plant at its Cement Plant at Ewekoro, Ogun State. Utilizing the best technology that exists globally, the new bag manufacturing plant features cutting edge and state of the…
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Sterling Bank reports 29% net profit growth in 2022
Sterling Bank Plc profit grew to N19.3 billion for the year ended December 31, 2022 in comparison to N15 billion as reported by the bank for the end of the 2021 financial year. The lender reported 28.5 per cennt growth in profit amid challenges in the banking sector. This was contained in the earnings release for the bank as shared…
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NGX encourages CWG to strive for sustainability in financial performance
Computer Warehouse Group (CWG) Pic on Wednesday presented its financial performance, strategic, and operational developments to the investment community at the Facts-Behind-the-Figures event hosted by the Nigerian Exchange Limited (NGX). The Chief Executive Officer of NGX, Temi Popoola, ably represented by Divisional Head, Capital Markets, NGX, commended CWG for leveraging the platform to increase engagement with the capital market community,…
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Workers’ Day: Kale, Ogunmola others headline Ecobank webinar on income mgt., growth
Ecobank Nigeria has concluded arrangements to host a consumer-focused income management webinar with the theme; “Maximizing your income: the power of diversification” for public and private sector employees as well as entrepreneurs in Nigeria being part of activities to commemorate the Workers’ Day. The webinar, slated for this week will feature a carefully selected panel of speakers. The keynote speaker…
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Femi Otedola owns 228.38m stake in Transcorp
Transnational Corporation Plc on Thursday disclosed that billionaire businessman, Mr. Femi Otedola has purchased 228,384,959 of its ordinary shares. Acting company Secretary, Transnational Corporation, Funmi Olofintuyi in a statement on the Nigerian Exchange Limited ((NGX) did not disclose the value of the shares. Otedola was alleged to have emerged largest single individual shareholder at Transcorp, a publicly traded diversified conglomerate chaired by Tony Elumelu. The billionaire,…
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BUA Foods declares 85% increase in PBT to N45.95bn
BUA Foods on Wednesday declared 85 per cent increase in profit before tax to N45.95billion in its unaudited first quarter (Q1) ended March 31, 2023 compared to N24.84billion reported in first quarter of 2022. The food processing company on the floor of the Nigerian Exchange Limited ((NGX), stated that its profit after tax hits N40.5billion in Q1 2023, an increase…
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Oando partners Yutong to deliver electric buses for Lagos mass transit
Oando Clean Energy Limited (OCEL) said it has taken delivery of electric mass transit buses, which will kick off the Proof of Concept phase of its Sustainable Transport Initiative. OCEL, in a statement on Wednesday, said the move was in realisation of its commitment to the partnership entered with the Lagos Metropolitan Area Transport Authority (LAMATA). Consequently, OCEL said it…
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Global partnerships, investments saved 12m lives from malaria deaths, says Dangote
As the World Malaria Day is marked globally, President of Dangote Group and United Nations’ Malaria Ambassador for Nigeria, Aliko Dangote has called for joint actions by all stakeholders globally if the collective goal of eliminating the disease by 2030 is to be achieved. Dangote in his World Malaria Day statement titled; “With Urgent Investment, Innovation and Implementation, Zero Malaria…
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