Company Report
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Ecobank to pay N66.6 dividend to shareholders
The Pan-African banking group, Ecobank Transnational Incorporated (ETI) is set to pay its shareholders dividends of $0.16 per share totaling $40 million for the year ended December 31, 2021. This implies approximately CFA90, N66.6, or 1.08 Ghana Cedi per share. For Nigerian and Ghanaian investors, this represents 5.5 times and 8.3 times, respectively, the most recent value of the Ecobank…
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NGX partners with MTN Nigeria to further enhance retail participation in capital market
Nigerian Exchange Limited (NGX) and MTN Nigeria Communications Plc (MTNN) have announced the signing of a Memorandum of Understanding (MoU) to further promote financial literacy and enhance retail participation in the Nigerian capital market. The announcement was made at the signing ceremony led by the Chief Executive Officer (CEO), NGX, Mr. Temi Popoola and the CEO, MTNN, Mr. Karl Toriola.…
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United Capital quotes N12.48bn series 8 CP on FMDQ Exchange
Corporate institutions have continued to explore alternative financing options by tapping the debt capital market to sustain their business activities and plug capital shortfalls. Following the admission of 21 Commercial Papers valued at over N128.25 billion thus far in 2022, FMDQ Securities Exchange Limited (FMDQ Exchange) on Monday announced the admission of the quotation of the United Capital Plc’s N12.48…
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IWD: Dangote pledges greater investment in women empowerment
Dangote Group has reiterated its commitment to continue supporting all forms of investments that would help develop and empower the women personnel within the organisation in Nigeria and across its pan-African operations. To commemorate the annual global International Women’s Day, Dangote Group, through the Dangote Women’s Network (DWN) celebrated the various outstanding contributions of its female workforce while hosting all…
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Guinness Nigeria denies false relocation claims, restates commitment to investment in Nigeria
The management of Guinness Nigeria plc has refuted reports of relocating from Nigeria and restated its commitment to investment in the country. Company Secretary/Corporate Relations Director, Guinness Nigeria Plc, Rotimi Odusola in a statement on the Nigerian Exchange Limited (NGX) on Friday said: “The attention of the Management of Guinness Nigeria Plc has been drawn to some false, malicious, and…
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Fidelity Bank celebrates 2022 IWD with financial support to women-owned businesses, girls’ academy
…Ezekwesili, Alakija, Shagaya, Chimamanda and others grace occasion In what has been termed a major push for breaking the gender bias in Nigeria, leading financial institution, Fidelity Bank Plc, in partnership with media entrepreneur-Linda Ikeji- celebrated the 2022 International Women’s Day (IWD) with an impressive networking event specifically for women to inspire one another, discuss pertinent challenges they face as…
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Women entrepreneurs set to storm ellevate, Ecobank exhibition
Hundreds of women-owned small and medium enterprises (SMEs) have registered to participate in the maiden Exhibition & Workshop of Ecobank, tagged Ellevate. This is a special free exhibition and networking workshop being organized by Ecobank Nigeria for female entrepreneurs as part of activities to commemorate this year’s International Women’s Day (IWD). The exhibition is scheduled to take place simultaneously in…
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FG’s Sukuk Bond issuances to take away deposits from bank, non-bank, say analysts
A group of analysts at Guaranty Trust Holding Company Plc (GTCO) said 2022 may witness an intensified competition for deposits not only between banks and non-bank competitors but also with the federal government as a result of FGN Sukuk Bond issuances and possible pick up of the e-naira, effectively taking away deposits from banks. They expressed that the discretionary Cash…
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Elumelu to rake in N2.38bn as dividend for 2021 FY
Chairman of United Bank for Africa (UBA), Mr. Tony Elumelu is expected to pocket a total of N2.38 billion in dividend for the financial year ended December 2021. As at December 31, 2021, Elumelu owns 194,699,555 direct shares, and about 2,185,394,184 indirect stakes through three other companies – Heirs Holdings, Heirs Alliance and HH Capital Limited. This puts his total…
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Acquisition deal with ExxonMobil has not been terminated, Says Seplat Energy
Seplat Energy Plc has clarified that its Sale and Purchase Agreement (SPA) with ExxonMobil has not been terminated. The clarification from the indigenous oil company follows some newspaper and social media reports that the Nigerian National Petroleum Company Ltd. (NNPC) had exercised a right of pre-emption under the NNPC/Mobil Producing Nigeria Unlimited (MPNU) Joint Operating Agreement (JOA), and as such…
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