Masonry Layout

United Bank for Africa (UBA) Plc, a pan-African banking group and China Development Bank (CDB), the world’s largest development finance institution, on February 27, 2018 announced the signing of a letter of intent for  $100 million seven-year to finance the development of small and medium enterprises (SMEs) in Africa. The $100 million loan will enhance UBA’s capacity to provide access …

Read More »

Market At Glance  …As 28 stocks posted gains while 31 posted declines ….ASI………….    42,843.38 DEALS………    4,570.00 VOLUME……    371,245,831.00 VALUE……..    N4, 874,462,011.64 EQUITY CAP… N15, 374,966,993,132.77   Advancers Symbols        Last Close         Current    Change      %Change SEPLAT        N660.5             N675        14.5            2.20% NASCON      N22                   N22.95     0.95             4.32% INTBRE        N57                   N57.65     0.65            1.14% Advertisement UNILEVER  N51.2                N51.55     …

Read More »

Nigeria’s foremost insurance and financial services group, Royal Exchange Plc has announced plans to undertake a corporate restructuring exercise of its key operations, to enable the group and its various subsidiaries become nimble, efficient and able to respond to the ever-changing demands and needs of its clientele across the country. This restructuring exercise which has already begun was announced by …

Read More »

The Central Bank of Nigeria’s manufacturing Purchasing Managers’ Index hit 56.3 index points in February, the CBN’s PMI survey report showed on Wednesday. The manufacturing PMI had hit 57.3 index points in January. The CBN stated that the 56.3 index points indicated expansion in the manufacturing sector for the 11th consecutive months. The PMI index however grew at a slower …

Read More »

Seplat Petroleum Development Company Plc on Wednesday released its audited financial statement for the period ended December 31, 2017 with an improvement compared to what was recorded same period in 2016. For instance, the company profit after tax growing significantly faster than revenue for the period, leaving a robust N143.96 Earnings Per Share (EPS), compared with the N79.73 loss in …

Read More »

The Central Bank of Nigeria (CBN) said further to the circular issued on January12, 2017 and other financial institutions on virtual currency operations in Nigeria, the bank wishes to reiterate that cryptocurrencies such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin, Onecoin, etc and Exchanges such as NairaEx are not licensed or regulated by the CBN. According to a statement signed by …

Read More »

The board of directors of United Capital Plc has proposed a 35 kobo dividend to shareholders for the full year ended December 31, 2017. However, the dividend is below 50 kobo that was paid in 2016. The dividend will be paid to shareholders whose names appear on the register of members at the close of business on March 8, 2018, …

Read More »

Africa Prudential Plc, has declared a 68.25 percent rise in its profit after tax for the year ended December 31, 2017. Specifically, the audited financial statement of the only registrar company listed on the floor of Nigerian Stock Exchange (NSE) showed that its profit after tax grew by 68.25 percent from N1.019 billion it made in 2016 to N1.715 billion in …

Read More »

In compliance with Rule 17.13 of the NSE Rule Book, we hereby notify the Exchange, the Bank’s shareholders and investor community of significant transactions on the shares of the Bank, as at today February 27, 2018, up to 6.65% of the Bank’s shares are held by two companies, as follows: AYYG & Sons Nig Ltd: 3.23% YGD & Sons Nig …

Read More »

…As Baru Says Fuel Scarcity Now a Thing of the Past The Nigerian National Petroleum Corporation (NNPC) has expressed its commitment towards providing the necessary assistance for Nigeria to attain competitive edge in non-oil sectors of the economy. Group Managing Director of the corporation, Dr. Maikanti Baru stated this while delivering a goodwill message during the ‘NNPC Day’ held at …

Read More »