Company Report
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CardinalStone Partners joins others to quote CP on FMDQ Exchange
The Board Listings and Markets Committee of the FMDQ Exchange has approved the quotation of the CardinalStone Partners Limited’s N10billion Series 2 Commercial Paper (CP) under its N10 billion CP Issuance Programme on the Exchange platform. CardinalStone Partners is a full-service investment banking and financial services company that provides services encompassing financial advisory, asset management, securities trading, share registration, and…
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Lafarge Africa reports N21.47bn PBT in Q1 2022
Lafarge Africa Plc on Friday announced N21.47billion profit before tax in its unaudited result and accounts for the first quarter (Q1) ended March 31, 2022, an increase of 68 per cent from N12.77billion reported in the first quarter ended March 31, 2021. The cement manufacturing company also reported 92 per cent increase in profit in Q1 2022 to N17.56billion as…
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Access Bank excites businesses with online account opening platform
Nigeria’s largest lender in the SME space, Access Bank plc has unveiled an online account opening platform for unregistered businesses. The online account opening platform is a paperless and seamless digital process which allows customers to register their business account within five minutes without visiting a branch. And it is available for anyone above 18 years across Nigeria and the…
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SPE, NCDMB hail Dangote petroleum refinery’s world-class technology application
The Society of Petroleum Engineers (SPE) and the Nigerian Content Development and Monitoring Board (NCDMB) have applauded Dangote Petroleum Refinery for its application of world-class technology in the construction of its 650,000 barrels per day refinery project. Cross section of the delegates and Dangote staff The two associations, which leaders were on a tour of the refinery project recently, expressed…
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GTBank, Zenith Bank, Access Bank, UBA subsidiaries in Ghana generate N107.68bn profit in 2021
The subsidiaries of Guaranty Trust bank Plc (GTBank), Zenith Bank Plc, United Bank for Africa Plc (UBA) and Access Bank in Ghana reported N107.68billion profit before tax in 2021, an increase of 11.4 per cent reported from N96.7billion in 2020. Westernpost gathered that Zenith Bank was the only bank with a decline in profit before tax, while Access Bank Ghana…
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Fidelity bank’s customers involve in N786m fraud, forgeries in 2 years
As the banking sector continued to record sharp practices, customers of Fidelity Bank Plc in the last two years were involved in over N786million fraud and forgeries. According to the bank’s audited report and accounts, amount involved in fraud and forgeries moved from N135.2million in 2020 to N650.9million in 2021. The bank reported N62.76million actual loss to fraud and forgeries…
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FMDQ Exchange approves registration of SKLD Integrated Services CP Programme
The FMDQ Securities Exchange Limited (FMDQ has announced the approval of the registration of the SKLD Integrated Services Limited’s N2 billion Commercial Paper (CP) Programme on its platform. SKLD Integrated Services Limited is an integrated corporate entity providing educational and office supplies, branded product distribution, technology, garment manufacturing and humanitarian aid procurement services through contracts, wholesale, retail and online channels.…
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United Capital reports 36% increase in profit to N2.69bn in Q1
United Capital on Wednesday reported 36 per cent growth in profit before tax to N2.69 in its unaudited first quarter ended March 30, 2022 results from N1.97billion reported in unaudited first quarter ended March 30, 2021. The company on the Nigerian Exchange Limited (NGX) also reported 39 per cent growth in profit after tax to N2.31billion in Q1 2022, compared…
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Union Bank reports 23% drop in profit to N19.4bn
Union bank of Nigeria Plc (UBN), Tuesday announced 23 per cent drop in profit after tax to N19.4billion in 2021 from N25.1billion reported in 2020. The lender in its audited financial statement for the year ended December 31, 2021 released on the Nigerian Exchange Limited (NGX) also reported 20 per cent drop in profit before tax to N20.8billion from N25.9billion…
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BUA Foods announces 64% growth in profit to N77.5bn
BUA Foods Plc has declared 64 per cent increase in profit before tax to N77.5billion in audited financial statement for the full year ended December 31, 2021 from N47.25billion reported in the year ended December 31, 2020. The food processing company, listed on the Nigerian Exchange Limited (NGX) also announced 97per cent increase in profit after tax to N69.8 billion…
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