The Manufacturers Association of Nigeria (MAN) has appealed to the Federal Government to intensify efforts in addressing obstacles confronting manufacturers in the country. The Chairman of MAN, Ogun branch, Mr. Wale Adegbite, said there is urgent need to strengthen the real sector by removing all bottlenecks restraining its growth and competitiveness. Adegbite, who stated this […]
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The Nigerian Aviation Handling Company on Thursday announced a turnover of ₦7.8bn. At its 36th Annual General Meeting in Abuja, NAHCO also announced the payment of 22 kobo dividend for every share held in the company. The company declared a profit after tax of ₦583m as the board approved the payment of 22 kobo for […]
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The Nigerian Stock Exchange (NSE) has approved Unilever Nigeria PLC’s plan to raise ₦58.9 billion in new supplementary equity issue. This will pave way for the fast-moving consumer goods company to round off the pre-offer process and open subscription to the new offer. According to the document obtained at the weekend by correspondent, Unilever Nigeria […]
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Chairman of Heirs Holdings and the Tony Elumelu Foundation, Mr. Tony Elumelu has congratulated Afrexim for the critical support it, provides for African businesses and its significant contribution to the development of cross-border trade and investment in Africa. Speaking at the 24th Annual General Meeting of the organisation in Rwanda, Mr. Elumelu highlighted the role […]
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Ecobank Transnational Incorporated (ETI) Plc, the pan-African financial services holding company for the Ecobank group, may issue about 6.7 billion ordinary shares under a $400 million convertible bond issue being planned by the company. Shareholders of ETI earlier this month authorised the board of the financial services group to raise up to $400 million through […]
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Hit by the country’s economic recession and the devaluation of the nation’s currency which paralysed most projects last year, Julius Berger recorded a loss of ₦3.8 billion in 2016 financial year. This represents a 256.4 percent decline compared to a profit after tax of ₦2.4 billion gained in 2015. Addressing shareholders at the company’s 47tth […]
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UAC of Nigeria Plc’s bid to bolster its working capital and recapitalise the other subsidiaries within the Group to receive a major boost, yesterday, following shareholders approval of ₦15.4 billion Rights Issue proposed by the Board of Directors. The shareholders also approved the ₦1.92 billion dividend, which translates to ₦1.00 per ordinary share of 50 […]
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Forte Oil Plc has disclosed plans to raise ₦20 billion capital by way of equity out of the ₦100 billion approved by the shareholders at its Annual General Meeting, AGM, to boost its operations. Executive Director and Group Chief Financial Officer, Mr. Julius Omodayo-Owotuga, who disclosed this to newsmen in Lagos said, “We have commenced […]
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… Pays N1.05 kobo dividend Major cement producing company, Lafarge Africa Plc has secured shareholders’ approval to raise additional ₦140 billion capital, through a rights issue, just as it proposed a dividend of ₦1.05 kobo per share to members on the company’s register. The dividend which was approved at the company 58th Annual General Meeting […]
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Shareholders of GlaxoSmithKline Consumer Nigeria Plc (GSK), has urged the management of the company to employ strategies that will help drive its business on the path of profitability. The shareholders who spoke during the company’s 46th annual general meeting in Lagos argued that considering the challenging operating environment, the management of GSK should ensure it […]
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ACCION Microfinance Bank (AMfB), weekend, revealed a disbursement of ₦62 billion since inception in 2007 and ₦15 billion in its financial year ended, December 2016. Also, the bank’s loan portfolio grew from ₦5.45 billion in 2015 to ₦6.12 billion 2016 representing a 12 percent growth with a corresponding growth of 20 percent in the number […]
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Wema Bank Wednesday held its Annual General Meeting (AGM) where its financial report for the year ending December 31, 2016 was presented to shareholders. The report showed that the bank recorded a double-digit growth in gross earnings, which rose 18.48 per cent from ₦45.79 billion to ₦54.25 billion, driven by an 18.61 per cent and […]
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