Zenith Bank Plc is set to raise N290bn through a combination of a Rights Issue and a Public Offer in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (CBN). This announcement was made during the Zenith Bank Rights Issue/Public Offer[Read More…]
Author: Godwin Anyebe
Naira devaluation: Breweries, others report N532.98bn loss in H1 2024
In the latest half year(H1) ended June 30, 2024 unaudited result and accounts, International Breweries Plc, Nigerian Breweries Plc, Cadbury Nigeria Plc and Nestle Nigeria Plc have reported another worst performance, attributable to foreign exchange loss and challenging business environment. No respite for investors as rising costs of production shrink[Read More…]
NGX, ETI mull partnership on sustainability, market development
Nigerian Exchange Limited (NGX) and Ecobank Transnational Incorporated (ETI) have expressed mutual interest in partnering on sustainability initiatives and overall market development. This was stated at the Closing Gong Ceremony introducing the new Group Chief Executive Officer (GCEO) of ETI to the capital market held at the Exchange on Tuesday,[Read More…]
Guinness World Record breaker attributes feat to Tolaram’s support
Dr. Fola David, the Nigerian medical doctor and visual artist who recently successfully broke and set a new Guinness World Record for the world’s largest painting by an individual, has expressed his gratitude to Tolaram, the Singaporean business conglomerate, for supporting him all the way in his quest to make[Read More…]
Nigerian Football Icon Obafemi Martins Supports Lagos State’s Grassroots Football Camp with Generous Donation
In a significant move to bolster grassroots football development in Lagos State, Nigerian international football star Obafemi Martins (popularly known as Obagoal) has donated 40 pairs of footballs to the Lagos State Government’s Football Grassroots Camping Program. This altruistic gesture aims to support the discovery of young talent and promote[Read More…]
MICDEE Completes Groundbreaking Workspace Project for MTN
MICDEE, a leading provider of innovative workspace solutions, proudly announces the successful completion of a high-profile project for MTN. This milestone marks a significant achievement in our ongoing commitment to delivering exceptional workspace solutions tailored to the unique needs of our clients. Our recent project for MTN underscores MICDEE’s dedication[Read More…]
Analysts warn of naira depreciation amid N311bn equity sell-off
Financial analysts have expressed concerns over the recent trend of high foreign liquidation in the Nigerian Exchange with N311.41bn worth of investments withdrawn in the first half of this year. This has sparked fears of naira devaluation and its potential impact on the Nigerian economy. According to the NGX, in[Read More…]
Investors gain N263bn as equity market rebounds
The Nigerian Exchange Limited reversed the previous trading session’s loss driven by investors’ demand for some of the small and mid-cap stocks leading to a gain of N263bn. Consequently, the All-Share Index rose by 0.47 per cent to close at 100,503.21 points, reflecting robust buying interest across various counters. Similarly,[Read More…]
Honeywell, Seplat drag equity market to N188bn loss
Investors lost N188 bn on the Nigerian Exchange Limited recently due to declines in the share prices of Ikeja Hotel, Honeywell Flour, and Seplat Energy. Ikeja Hotel shed 9.29 per cent to close at N6.35 PZ, Honeywell flour lost 8.41per cent to N3.16 and Seplat Energy declined by 8.30 per[Read More…]
Zenith Bank seeks NGX approval to sell 5bn shares through rights issue
Zenith Bank Plc has sought approval from the Nigerian Exchange (NGX) Limited to sell 5.23 billion shares through rights issue to raise N188.37 billion. According to a statement recently signed by Godstime Iwenekhai, head of the issuer regulation department at NGX, the qualification date for the rights issue is July[Read More…]
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]