Company Report
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FBN Holdings to delay 2021 AFY till month end
The management of FBN Holdings Plc has assured stakeholders at the Nigerian capital market of submitting audited financial statements (AFS) for the financial year ended December 31, 2021, by April 2022. Post-listing rules at the NGX required quoted companies to submit their audited earnings reports, not later than 90 calendar days, or three months, after the expiration of the period.…
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Transcorp Hotels’ gross profit increases by 143% to N16.23bn, announces N717m dividend
Transcorp Hotels Plc paid a total dividend of N717 million to its shareholders at its 8th Annual General Meeting held in Abuja recently. The Chairman of the Board of Directors, Mr. Emmanuel Nnorom stated that the company closed the 2021 financial year strongly, with an impressive gross revenue of N22billion, surpassing its 2019’s pre-COVID revenue of N20billion. “Our disciplined approach…
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Nigerian Breweries offers ‘shares for dividends’ option to shareholders
Ahead of its 76th Annual General Meeting and following the impressive results released for the financial year ended December 31st, 2021, Nigerian Breweries Plc has proposed for Shareholders’ approval, the Share for Cash Dividend Election Scheme ; a scheme that will allow shareholders convert final cash dividends to new ordinary shares. A statement issued by the management of the company…
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FG honours Airtel Nigeria on tax compliance
…. Named Telco Amongst Top 3 Most Compliant Tax Payers in Nigeria Leading telecommunications services provider, Airtel Nigeria, has been named amongst the top three most compliant tax payers in Nigeria and has also been recognized for its remarkable performance in Remittances of the various taxes in 2021 Tax year. Airtel was recognized last week by the Federal Inland Revenue…
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Dangote Refinery, a Game Changer that’ll drive Africa’s Refining Revolution, says FG
The Federal Government has described the 650,000 barrels-per-day Dangote Petroleum Refinery as a game-changer that is capable of driving refining revolution in Africa. Minister of Information and Culture, Alhaji Lai Mohammed, who made this declaration during a media tour of the $19 billion Dangote Petroleum Refinery and Petrochemicals Plant at Ibeju-Lekki, Lagos, said the project would be a game-changer once…
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Fidelity Bank grows PBT by 35.7% to N38.1bn for FY 2021
……Proposes dividend of 35 kobo per share Fidelity Bank Plc has recorded 35.7per cent growth in Profit Before Tax (PBT) for its 2021 financial year to close the year at N38.1 billion according to the bank’s recently issued financial result. Analysis of the results indicates that the bank grew Gross Earnings by 21.6per cent YoY (23.2per cent QoQ) to N250.8…
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Veritasi Homes & Properties registers N10bn CP programme on FMDQ Exchange
FMDQ Exchange, through its Board Listings and Markets Committee has approved the registration of the Veritasi Homes & Properties Limited’s N10 billion Commercial Paper (CP) Programme on its platform. Veritasi Homes & Properties Limited is a premium real estate company providing marketing, advisory and developmental services across the real estate value chain in Nigeria. The company’s vision is to be…
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CBN sanctions Stanbic IBTC Holdings N438m in 2021
The Central Bank of Nigeria (CBN) sanctioned Stanbic IBTC Holdings Plc a total of N435 million in 2021 for not complying with five market regulations. The bank in its 2021 financial statement released on the Nigerian Exchange Limited (NGX) disclosed that it was sanctioned N277 million in 2020 financial year. It means the CBN in the last two years sanctioned…
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Despite challenges, Wema Bank reports 108.7% increase in profit to N12.4bn
On the heels of domestic and foreign economy challenges, Wema Bank Plc on Thursday announced 108.7 per cent increase in profit before tax to N12.4billion in 2021 financial year ended December 31, 2021 from N5.9billion reported in 2020 financial year statements. The lender on the Nigerian Exchange Limited (NGX) grew profit for the year by 95 per cent to N8.9…
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Investdata holds master class on opportunities in volatile market Saturday
Investdata Consulting Limited will on Saturday hold its regular quarterly master class titled: “Trading Opportunities in a Volatile Market and Defensive Sectors in a Pre-election Year”, between 9am and 4pm, via Zoom. A statement by the organisers said the master class will feature facilitators like Alhaji Garba Kurfi, Managing Director/Chief Executive of APT Securities & Funds Limited; Mr. Abdul-Rasheed Oshoma…
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