Company Report
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Titan Trust Bank announces acquisition of 93.41% shares in Union Bank
Union Bank of Nigeria Plc has announced the completion of core investors’ sale of a majority shareholding which involved the transfer of 93.41 per cent issued share capital to Titan Trust Bank Limited, a subsidiary of TGI Group. The bank announced board changes that resulted from the resignation and subsequent retirement of the Directors from the Board of Union Bank…
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Flour Mills of Nigeria reports N28.02bn profit in 2022, declares N2.91 dividend
Flour Mills of Nigeria Plc on Wednesday announced N39.22billion profit in its audited result and accounts for the period ended March 31, 2022, representing 8.9 per cent increase from N25.72billion reported in prior year results. The listed flour processing company on the Nigerian Exchange Limited (NGX) also announced a 5.2 per cent increase in profit before tax to N39.22billion in…
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Access Bank deploys SUNREF to finance Lagos Business School’s energy transition project
Access Bank Plc and Lagos Business School (LBS), have reached an agreement on the funding of LBS’s 350KW and 152KWh hybrid power solutions project, deploying the Sustainable Use of Natural Resources and Energy Finance (SUNREF) facility. SUNREF is a green energy facility availed to Access Bank by the Agence Française de Développement to support Nigeria’s journey towards carbon emissions’ reduction and…
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Lafarge Africa rewards customers for top performance
In a bid to celebrate high performers and support the business growth of its trade partners, the leading innovative and sustainable building solutions company, Lafarge Africa Plc., has rewarded its performing trade partners for excellent performance in the year 2021. The Customer Awards ceremony held in Lagos recently, was an opportunity for the company to appreciate its customers who had…
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Dangote Refinery to expose Nigeria’s downstream, midstream sectors to Int’l markets
The coming on stream of the 650,000 barrels-per-day Dangote Petroleum Refinery will guarantee availability of high quality environmentally compliant products in Nigeria, regional markets in West Africa, Southern Africa and inter-continental markets. The President/CE of Dangote Group, Aliko Dangote made this disclosure at the Nigerian Content Midstream – Downstream Oil and Gas Summit 2022, which held in Lagos recently. Dangote,…
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GTBank maintains dominance in financial services at Brand Africa 100
Guaranty Trust Bank Ltd (GTBank), the banking subsidiary of Guaranty Trust Holding Company Plc (GTCO Plc), has emerged winner in four major categories at the 12th annual Brand Africa 100: Africa’s Best Brands 2022 rankings of the Top 100 Most Admired Brands in Africa. The award is an initiative by Brand Africa aimed at driving Africa’s competitiveness and creating a…
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Emirates honours Nigeria’s leading travel industry agents in Partners Recognition event
Emirates, the world’s largest international airline, held an event in Lagos to recognise the services and ongoing partnerships of its top travel agents. The event was the first to take place since the outset of the pandemic, and gathered the industry’s best, reaffirming the airline’s ongoing commitment to the market and its longstanding partnership with its travel trade partners and…
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FBN Holdings reports N36.5bn PBT in Q1 2022
FBN Holdings Plc has reported N36.5billion profit before tax in its unaudited result and accounts for first quarter (Q1) ended March 31, 2022 from N18.9billion reported in first quarter ended March 31, 2021. The Holdings on the Nigerian Exchange Limited (NGX) reported 32.2 per cent increase in gross earnings to N180.5billion in Q1 2022 from N136.6billion in Q1 2021. From…
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Flour Mills of Nigeria launches 400g Golden Penny Pasta
Flour Mills of Nigeria, on Thursday announced the launch of the Golden Penny 400g Pasta pack. FMN, who are the owners of the iconic brand ‘Golden Penny’ unveiled the 400g Pasta to afford customers an invaluable opportunity of varied tasty nutritious pasta options. The new product, launched into the market represents Flour Mills of Nigeria’s proactive response to consumer demand…
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NGX, SEC, CBN sanction FBN Holdings N629.7m in 2021FY over 22 market infractions
The capital market and money market regulating bodies, Securities and Exchange Commission (SEC) Nigerian Exchange Limited (NGX), and Central Bank of Nigeria (CBN) in 2021 financial year sanctioned FBN Holdings N629.7million for failing to comply with 22 market infractions. The banking subsidiaries of FBN Holdings, First Bank of Nigeria Limited was sanctioned nine times by SEC and CBN for N350…
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