Company Report
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Dangote Cement to reward consumers with N1bn in new Promo
Consumers of Dangote Cement Plc, a leading cement brand in Nigeria, stand the chance of winning over N1 billion cash prizes in the Dangote Bag of Goodies Season 3 promo, tagged ‘Spell Dangote and become a multi-millionaire.’ The promo, which was launched in Lagos on Tuesday in the presence of regulators from the National Lottery Regulatory Commission and Federal Competition…
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Dangote Cement’s past consumer promo winners recount gains
Past winners of the Dangote Cement consumer promo have commended the company’s Management for the positive economic and social impact of the promo on their livelihoods and wellbeing. Some of the winners, who spoke on the impact of the cars and millions of Naira won during the previous seasons, described the promo as a big relief and a crucial palliative…
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BREAKING: NGX suspends trading on Ardova, Coronation Insurance, 6 others
For failing to oblige to post-listing requirement, the Nigerian Exchange Limited (NGX) has suspended trading in Ardova Plc, Coronation Insurance Plc, and six other listed companies. The other six companies are; C&I Leasing Plc, Ekocorp Plc, Premier Paints Plc, African Alliance Insurance, Royal Exchange Plc, Mutual Benefits Assurance Plc, and Niger Insurance Plc. NGX Regulation Limited in a notice stated…
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FMDQ Exchange admits Eat & Go finance SPV bond
FMDQ Securities Exchange Limited has announced the admission for listing on its platform, the Eat & Go Finance SPV’s N3.50 billion Series 2 Fixed Rate Bond under its N15 billion Bond Issuance Programme. Eat & Go Finance SPV PLC is a special purpose funding vehicle established by Eat ‘N’ Go Limited to raise finance from the debt capital market through…
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Daraju Industries to quote N10bn CP programme on FMDQ Exchange
FMDQ Securities Exchange Limited (FMDQ Exchange), through its Board Listings and Markets Committee, has approved the registration of the Daraju Industries Limited’s N100 billion Commercial Paper (CP) Programme on the Exchange’s Platform. The registration of the CP Programme reinforces the confidence of issuers in FMDQ Exchange’s platform, and the Nigerian capital market as a viable marketplace to raise funds to meet funding…
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GTCO, UBA, Zenith Bank in N14.97tn customers’ litigations in 2021
Three leading financial institutions in Nigeria, Guaranty Trust Holding Company Plc (GTCO), United Bank for Africa Plc (UBA), and Zenith Bank Plc were involved in litigations and customers’ claims worth N14.97trillion in 2021, WesternPost can report. Extract from the three banks’ 2021 financial year results and accounts revealed hike in litigations as more customers opted to sue banks over excess…
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Expert projects massive growth for Seplat Energy, others as Africa’s energy demand soars
An expert at Mackinsey & Company has hinted that Seplat Energy Plc is projected to grow more given the rising demand for energy in Africa. Africa’s energy demand is also expected to see increased growth over the decade amidst current realities. The global management consulting firm disclosed this at the Seplat Industry lecture and Dr. ABC Orjiako send forth event…
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Fitch reaffirms Ecobank Nigeria’s stable outlook
Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch also affirmed the Bank’s Viability Rating (VR) at ‘b-‘ and National Long-Term Rating at ‘BBB (nga)’. The rating agency released this last week, stating that the Bank’s IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating. …
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With N132.57bn loss in 2020, Oando reports worst performance on NGX
Oando plc on Wednesday reported N132.57billion loss in its 2020 unaudited account for the period ended December 31, 2020 as against N207.08billion reported in prior year. The unaudited account released on the Nigerian Exchange Limited (NGX) is the worst performance by a listed company. According to the company, the loss after tax for 2020 of N132.6 billion was driven primarily…
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FMDQ Exchange approves registration of Lekki Gardens Estate’s N25bn CP Programme
FMDQ Securities Exchange Limited has approved the registration of the Lekki Gardens Estate Limited’s N25 billion Commercial Paper (CP) Programme on its platform. Lekki Gardens Estate Limited is a leading independent luxury real estate company in Nigeria that provides innovative real estate solutions in the areas of property development, facility management and sales of real estate products and services with special…
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