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...Customers criticize charges Four banks have posted N979.77 billion as Profit Before Tax (PBT) for the first quarter of 2025 ended March 31. The financial statements posted on the Nigerian Exchange Group (NGX) platform, reveals that all the banks recorded increase in their gross earnings. The charges, according to the group, ranged from Teleco fee, ...
The Nigerian Exchange Group (NGX) has announced a profit of N2.1 billion for the first quarter of 2025. The Exchange disclosed this in its unaudited financial statement released on Wednesday. This represents an increase compared to the N1.34 billion profit recorded during the same period in 2024. The NGX also reported a revenue of N3.56 ...
FCMB Group Plc convened its 12th Annual General Meeting (AGM) in Lagos on April 29, 2025, where shareholders endorsed the Group's 2024 financial results and approved key resolutions to drive future growth and strengthen governance. FCMB Group closed 2024 with total assets of ₦7.1 trillion and deposits of ₦4.3 trillion. The Group's digital transformation gathered ...
May & Baker Nigeria Plc has announced a dividend payout of 40 kobo per share for the financial year ending 31 December 2024. The pharmaceutical company made this known in a regulatory filing submitted to the Nigerian Exchange Limited during the week. According to the statement, the audited financial results for the period were approved ...
Nigeria’s equities market closed lower on Tuesday, marking its first decline of the week, as investors cashed in on recent gains in heavyweight stocks such as MTN Nigeria. The selloffs redirected the market into negative territory amid a cautious trading environment. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) dipped by 0.18 percent, slipping from ...
Unilever Nigeria Plc has released its financial results for the first quarter ended March 31, 2025, reporting a pre-tax profit of N10.7 billion. This figure represents a 146.67 per cent increase from the N4.3 billion pre-tax profit recorded in the same quarter of 2024, driven by increased sales. Total revenue for Q1 2025 was N46.9 ...
The Nigerian Exchange Limited (NGX) All Share Index (ASI) rose by 0.35 percent on Monday, pushing this year’s return higher to 3.11 percent. The market continued its upward trend at the beginning of the week as investors favour consumer goods and banking stocks, despite sell pressure on oil & gas stocks. “We anticipate a positive ...
Arabel Holdings Plc has recorded a 97.6 percent growth in revenue in the first quarter of 2025, from N101.1 billion to N199.9 billion for the quarter ended March 31, 2025. The company made this known in a corporate disclosure released through the Nigerian Exchange Ltd. on Monday. The company also witnessed an uptrend in profit, ...
By Seun Ibiyemi The Securities and Exchange Commission (SEC), has called for enhanced collaboration among African markets for a stronger interconnection within the continent as well as development of new products. In a statement made available to Nigerian NewsDirect on Monday in Lagos, the Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama made ...
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc has released its unaudited results for the first quarter (Q1) ended March 31, 2025. Transcorp Hotels sustained its profit momentum in Q1 2025, growing gross profit by 59.6 percent to N15.84 billion from N9.92 billion in same period the preceding year also delivering a Profit ...
After a three-day bullish run, the Nigerian stock market closed the week on a weaker note on Friday, with key performance indices retreating by 0.3 per cent. The market capitalisation of the Nigerian Exchange Ltd. (NGX) fell by N202 billion, declining to N66.465 trillion from N66.667 trillion recorded on Thursday. Similarly, the All-Share Index slipped ...
Transactions on NGX up 30.26%, investors gain N13bn in one week By Seun Ibiyemi Investors on the Nigerian Exchange Ltd. traded a total of 1.854 billion shares valued at N56.025 billion in 51,386 transactions over the course of the week. This marked a notable increase compared to the previous week’s figures, when 1.525 billion shares ...
Stock market investors traded 1.854 billion shares worth N56.025 billion in 51,386 transactions on the floor of the Nigerian Exchange Ltd. this week. This is in contrast to the 1.525 billion shares valued at N43.006 billion that exchanged hands last week in 51,156 deals. Consequently, the value of transactions traded by investors on the Exchange ...
By Seun Ibiyemi Shareholders of Guaranty Trust Holding Company (GTCO) Plc have approved a total dividend payout of N8.03 per share for the financial year ending 31 December 2024. This decision was reached during the company’s fourth annual general meeting, held virtually on Tuesday. The total dividend includes an earlier interim payment of N1.00 per ...
CWG Plc has announced a dividend of 39 kobo per share for its shareholders, following a landmark year of financial growth in 2024. The payout—disclosed at the company’s 20th Annual General Meeting (AGM) held on Thursday in Lagos—more than doubles the 16 kobo distributed in the previous year. The tech firm’s robust results drew praise ...
The Securities and Exchange Commission (SEC) has called on Nigerians to report any suspected illegal investment schemes, reaffirming its commitment to investigating and prosecuting fraudulent operations that threaten the integrity of the capital market. In a public notice issued on Thursday, the commission raised concerns over the increasing prevalence of Ponzi schemes and other unregulated ...
Nigeria’s stock market rallied further by 0.53 percent or N342 billion on Wednesday, thanks to banking and consumer goods stocks despite sell pressure in insurance and oil & gas stocks. Investors’ interests in shares of VFD Group, Africa Prudential, Learn Africa, and ABC Transport pushed the market higher. This week, the market has risen by ...
By Seun Ibiyemi In a bold move to reassert Nigeria’s financial credibility on the global stage, the Central Bank of Nigeria (CBN), in partnership with J.P. Morgan, the Nigerian Exchange Group (NGX), and the Africa Private Capital Association (AVCA), hosted a high-impact forum at Nasdaq MarketSite ahead of the IMF and World Bank Spring Meetings. ...
By Seun Ibiyemi Nigeria’s leading banks are seeing significant returns from the nation’s digital banking surge, collectively earning N628.5 billion from electronic business channels in 2024 — a sharp 51 percent rise from the N387.8 billion posted in 2023. This notable upswing points to growing reliance on digital banking platforms including mobile apps, USSD codes, ...
Nigeria’s Securities and Exchange Commission (SEC) has issued a public warning in response to widespread media reports concerning the operations of CBEX (Crypto Bridge Exchange), a platform now under intense scrutiny for alleged fraudulent activity. CBEX, which operated under the corporate identities of ST Technologies International Limited and Smart Treasure (also known as Super Technology), ...
Persistent bearish sentiment in the Nigerian equities market led to a N208 billion dip in market capitalisation on the Nigerian Exchange Group (NGX) during the just-concluded trading week, following a deeper N440 billion loss recorded the previous week. The market opened for four trading days in the week, alternating between gains and losses over the ...
UPDC Plc has released its audited financial results for the year ended December 31, 2024, delivering a strong performance anchored by real estate sales. The company posted a pre-tax profit of N1.309 billion, representing a 244.51 per cent increase from the N379.9 million reported in 2023. After-tax profit also soared by 277.83 per cent to ...
First Holdco Plc has released its audited financial results for the year ended December 31, 2024, reporting a pre-tax profit of N781.88 billion, representing a 124.77 per cent year-on-year increase compared to N347.87 billion recorded in 2023. Profit after tax also saw significant growth, rising by 115.12 per cent to N663.490 billion, while Gross Earnings ...
