The new Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, has warned operators in the capital market that the new management under him will not brook any form of infringement on the rights of investors. He assured them that investor protection would be at the centre of the initiatives of the […]
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The Federal Government on Friday said it would review the Nigerian capital market’s master plan to evolve strategies for the improvement of the market in key areas. At the inauguration of the National Savings Strategy workgroup in Abuja, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the master plan proposed by the […]
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Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading listed conglomerate, owner of Transcorp Power Limited, one of Nigeria’s largest power producers and the iconic Transcorp Hilton in Abuja, has announced the appointment of Mrs. Foluke K. Abdulrazaq to its Board of Directors, as Vice Chairman, effective Friday, 5th of June 2020. Mrs Abdurazaq brings considerable […]
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Leading Nigerian independent oil and gas company Seplat Petroleum Development Company Plc, listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), says it remains resilient business that generates significant free cash flow from a low cost production base; having a balanced portfolio split evenly between oil and gas (which is […]
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Zenith General Insurance Limited has raised its released its profit before tax for the the year ended 31 December 2019 by 16% from N3.16bn to N3.67bn. A review of the results showed positive improvements on a year-on-year basis with rising while profit after tax rose by 10% up from N2.79bn to N3.06bn. The company also […]
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Nigeria’s wholly conglomerate, Dangote’s building materials business, Dangote Cement Plc, has improved its sales volume across Africa in the year 2019, hitting 9.6Mt from 9.4Mt. According to the full year report released on the floor of the Nigerian Stock Exchange, Dangote Cement Plant, Mtwara, Tanzania, recorded an increase of 94 percent increase in volume within […]
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The Acting Director General of the Securities and Exchange Commission Nigeria (SEC), Ms Mary Uduk has advised state governments to establish companies for specific target projects to boost their Internally Generated Revenue (IGR). Uduk gave the advice while speaking at the ongoing Federation Account Allocation Committee (FAAC) 2020 Retreat with the: “Efficient Federation Revenue Allocation […]
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Major Nigeria banking institution, Guaranty Trust Bank Plc, is in the forefront of aggressive cost cutting drive of banks unable to grow revenue. Cost cutting has been the bank’s profit growth strategy since 2017 – when it lifted net profit a clear 27 percent from flat growth in gross earnings. In 2018, the bank again […]
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Nigeria’s wholly conglomerate, Transnational Corporation of Nigeria Plc (Transcorp) has announced significant appointments to its Board and Executive Management. Transcorp is Nigeria’s leading listed industrial holding company, whose interests include Transcorp Power, Nigeria’s largest power generator, Transcorp Hotels, owner of the iconic Transcorp Hilton, and significant upstream oil and gas assets. Owen Omogiafo has been […]
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The news of Access Bank’s proposed listing of its N15Bn Green Bond on the Luxembourg Stock Exchange (LuxSE) has created some excitement in the fixed income market. This 15.50 percent fixed rate green bond with five-year maturity is the first-ever climate bonds standard certified corporate green bond to be issued in Africa, and was first […]
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Most African Capital Markets are too small to attract the attention of international investors, the Chief Executive Officer, Johannesburg Stock Exchange (JSE), Dr Leila Fourie has said. To reverse the trend, Fourier has called for adequate liquidity through greater integration. Fourier said: “Looking at the exchanges on the African continent collectively, our primary focus as […]
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