Business Capital Market News

HURRAY! Price of Garri Drops By 60%

Ihesiulo Grace 24 October 2017 0

Price of garri, a staple in the country, has dropped significantly in Enugu state over the last 120 days. This is cheering news for lovers of Nigeria’s most staple food, Garri. A market survey conducted on Monday, revealed that the amount has dropped from as high as N1,250 to between N450

Capital Market

Capital market: SEC charges brokers, others on infractions

Ihesiulo Grace 23 October 2017 0

…. stakeholders call for update on litigation portal As the Securities and Exchange Commission (SEC) continues investigation in allegations of unclaimed dividend fraud and other related capital market fraud cases, which have in recent times, impacted on market confidence, more operators are likely to be jailed. SEC revealed recently that it has commenced court proceedings

Capital Market Capital Market

Loans: Skye, First Bank take over Evans Medical

Ihesiulo Grace 23 October 2017 0

Evans Medical Plc, on Friday, announced a takeover of the company by its lenders, Skye Bank Plc and First Bank Plc due to a loan default. Evans Medical notified investors of the development, via the Nigerian Stock Exchange, revealing that a receiver manager has also been appointed; and has taken over the assets of the […]

Capital Market Capital Market

TransCorp’s Q3 2017 advances profitability to N8.2bn

Ihesiulo Grace 23 October 2017 0

The Transnational Corporation (Transcorp) Nigeria Plc, for the third quarter ended 30 September 2017 showed sustained growth all performance measuring indices, coming out of loss position in 2016 financial year. The company’s unaudited financial statement for the Q3 period released by the Nigerian Stock Exchange (NSE) recently showed resilience, volume growth and

Capital Market Capital Market

Why Access Bank Ghana, needs over GHS 400m capital

Ihesiulo Grace 23 October 2017 0

Access Bank Ghana, has given assurance of commitment to meeting regulatory requirement of the bank of Ghana, as the country regulates capital raising for deposit money banks in the country to GHS 400 million. The bank’s parent, Nigeria’s Access Bank Plc, majority shareholder of Access Bank Ghana, recently that beefing up the Ghana’s sub over […]

Capital Market Capital Market

Unilever Nigeria: Company grows Q3 PAT by 143% y/y to N4.83bn

Ihesiulo Grace 23 October 2017 0

As Opex, interest income soar by 39%/ 8% respectively Shareholders of Unilever Nigeria Plc may have commenced boosting their holdings in the company in expectation of rewarding corporate action for the 2017 financial year. This is because the company posts sound earnings, with higher operating expenses. Unilever’s rights issue offer of N63bn of which proceeds […]

Capital Market Capital Market

Lafarge Africa launches Ghana export, as Q3 2017 sales hit ₦223.7bn

Ihesiulo Grace 23 October 2017 0

Greater earning opportunities may have opened for Lafarge Africa Plc, as the company has commenced export to Ghana, breaking new grounds, while also enhancing Africa’s environment as well as creating more value for investors. This was coming as the company’s third quarter result for the period ended 30th September, 2017 showed sustained exploitation of earning […]

Capital Market Energy

Oando suspended in Jo’burg

Ihesiulo Grace 19 October 2017 0

The Johannesburg Stock Exchange has suspended trading in shares belonging to Oando Plc. According to a statement issued by the JSE’s Sens service, Oando’s listing was suspended following the review of subsequent correspondence received on October 18 from the Nigerian Stock Exchange (NSE) and the Securities and Exchanges Commission (SEC). On Wednesday, the NSE said […]

Business Capital Market

Stanbic strengthens board

Ihesiulo Grace 19 October 2017 0

Stanbic IBTC Bank, a member of Stanbic IBTC Holdings PLC, has further consolidated the strength of its board by the appointment of Mrs. Miannaya Aja Essien, a Senior Advocate of Nigeria (SAN), as an Independent Non-Executive Director. Her appointment took effect from Wednesday, 27 September, 2017 ,following the receipt of all required regulatory approvals. Essien, […]

Business Capital Market

Zenith Bank reports 29.1% PAT 9 months’ growth

Ihesiulo Grace 19 October 2017 0

Shareholders of Zenith Bank Nigeria Plc may have started looking up for a resounding dividend for the 2017 financial year, as the company commits to meeting or surpassing its 2017 target. Zenith bank’s third quarter result for the period ended 30th September, 2017, released by the Nigerian Stock Exchange (NSE) on Thursday, showed mixed performances […]

Business Capital Market News

Nivea defends product against racism accusations

Ihesiulo Grace 19 October 2017 0

Cosmetics giant Nivea has responded to accusations of racism over its sale of skin-lightening creams to West Africa, but the German-owned company stopped short of an apology: We recognize the concerns raised by some consumers regarding a NIVEA product communication in Ghana and take them very seriously. Our intention is to never offend our consumers. […]

Capital Market

Stanbic IBTC stockbroker’s 19.61% 8 months’ turnover driven by IT

Ihesiulo Grace 19 October 2017 0

The high turnover volume of transactions recorded by Stanbic IBTC Stockbrokers Limited (SISL) month on month (M/M), has been attributed to its robust IT platform placed at the disposal of investors. The company, in eight months, recorded N299.59billion value transaction, credited to the deployment of its online platform, which created positive ripple effect to their […]

Capital Market

GTbank posts N125.577bn in Q3 as shareholders expectations heightens

Ihesiulo Grace 19 October 2017 0

…as loan impairment charges drops Guaranty Trust Bank Plc third quarter result for the period ended 30th September, 2017, has shown challenging, but yet rewarding third quarter year on year as the bank continue on profitability line. The group’s Q3 result released by the Nigerian Stock Exchange on Wednesday, showed that performance measuring indices closed […]

Capital Market

NSE lifts trading suspension on Thomas Wyatt, African Alliance

Ihesiulo Grace 17 October 2017 0

The Nigerian Stock Exchange (NSE) has notified the investing public that it has lifted the suspension earlier placed on the trading of Thomas Wyatt and African Alliance’s Shares. A report from the local bourse confirmed the development at the weekend, noting that Thomas Wyatt Nigeria Plc, which was one of the companies suspended for non-submission […]

Capital Market

Heritage Bank: Premium customer services earn senior executives ICA awards

Ihesiulo Grace 17 October 2017 0

Institute of Credit Administration (ICA) has conferred distinguished awards on two senior management executives of Heritage Bank Plc at the Nigeria Credit Industry Awards and Postgraduate School of Credit and Financial Management (PSCFM) graduation ceremony. The bank in a statement said that Mr. Jude Monye, an executive director of the bank, was awarded Credit Management

Capital Market

Julius Berger: Board meets, set for higher shareholders’ returns

Ihesiulo Grace 17 October 2017 0

Julius Berger Nigeria Plc is positioning for increased returns on shareholders’ funds, as its board’s audit committee meets on October 28th, 2017, as the company consolidates on recovery path from its loss position in H1. While it is expected that interim dividend may not be considered at the meeting, experts have expressed the view that […]

Capital Market

Nestle: Shareholders optimistic about 300k interim dividend

Ihesiulo Grace 17 October 2017 0

Going by dividend paying record of Nestle Nigeria Plc, projections have shown that shareholders of the company may be looking up to interim dividend of about 300 kobo, as the company’s board meets to endorse Q3 2017 unaudited result. The above amount was arrived at by our in-house analysts taking into consideration the company’s healthy […]

Capital Market

Afrinvest to inaugurate Nigerian banking sector report at LSE

Ihesiulo Grace 16 October 2017 0

Afrinvest (West Africa) Limited is set to present the 2017 edition of its Annual Nigerian Banking Sector Report at the London Stock Exchange (LSE) on October 27, 2017. The presentation of the report is scheduled as the anchor event of the Nigeria Banking & Investment Forum: Capital Markets Partnership, hosted by the LSE in collaboration […]

Capital Market

Telcos seek licences to boost financial inclusion from CBN

Ihesiulo Grace 16 October 2017 0

Association of Licensed Telecommunications Operators of Nigeria (ALTON) has said operators have commenced discussion with the Central Bank of Nigeria CBN, for licences to provide mobile payment services. Executive Secretary, ALTON, Mr. Gbolahan Awonuga disclosed this at the third quarterly forum of the Nigeria Information Technology Reporters Association (NITRA) in Lagos

Capital Market

Dangote employs young graduates for rice farming in Kogi

Ihesiulo Grace 16 October 2017 0

A novel multi-million Naira youth farming initiative that will engage teeming unemployed Nigerian graduates in rice farming has been launched by the Dangote Rice Limited in Kogi State, North Central Nigeria. This is just as the company prepares to hit the market with one million metric tons of Dangote rice in 2018. The Dangote Youth […]