Zenith Bank, MTN Nigeria, others donate N16.5bn to charities in 2021
Leading companies in Nigeria, Zenith Bank Plc, MTN Nigeria Plc, and four others donated N16.47billion to different charities in 2021, a decline of 0.7 per cent from N16.58billion in 2020.
Others are Dangote Cement Plc, Lafarge Africa Plc, United Bank for Africa Plc (UBA) and Guaranty Trust Holding Company Plc (GTCO).
The donations are in accordance with the provisions of Section 43 (2) of Companies and Allied Matters Act 2020 and are not related to political parties, political associations, or for any political purpose.
Extracts by Westernpost in these companies’ 2021 financial year revealed that the donations were given to support COVID-19 in some states, education, security funds, among others.
Of the N16.5billion charity donations, Zenith Bank leads with N4.37billion in 2021 from the N3.29billion recorded in 2020, followed by MTN Nigeria with N3.08billion donations in 2021, an increase of 45.3 per cent from N2.12billion in 2020.
As gathered by Westernpost from the 2021 financial year, the six companies generated N1.25trillion profit, an increase of 19 per cent from N1.05trillion reported in 2020.
Dangote Cement remains the most profitable listed company on the Nigerian Exchange Limited (NGX) with N364.44billion in 2021 from N276.07billion reported in 2020.
