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FCMB Group Plc has successfully completed the acquisition of an additional 60 percent equity stake in Legacy Pension Managers Limited (Legacy). The acquisition, which increases the holding company’s interest in the company from 28.2 percent to 88.2 percent, was concluded at the Completion Board Meeting of Legacy on Tuesday, November 21, 2017 in Abuja. The completion of the transaction follows the approvals of...
Pan-African entrepreneurial training program, seed fund, and incubator MEST today announced the launch of two new Incubator spaces in Lagos, Nigeria, and Cape Town, South Africa, as the program continues to expand its presence across the continent. The spaces will join the flagship headquartered in Accra, Ghana, as part of a...
The Nigerian Stock Exchange, in a notice issued on its website, has called for inputs from the investing public regarding its proposed rules and rule amendments. The exchange is proposing the following  amendments: Amendments to Information Disclosure Rules The Exchange is proposing amendments to Chapter 17 of the Issuers’ Rules with respect...
In a notice sent to the Nigerian Stock Exchange (NSE) today, Beta Glass Plc announced the appointment of  Seun Oni as an Independent Director. Seun Oni has a Bachelor of Science degree in Economics which she obtained from the University of Lagos in 1989. She also participated in various management...
In a notice released to the Nigerian Stock Exchange (NSE) today, UACN Plc has announced the opening of its rights issue. 960,432,193 ordinary shares of 50 Kobo each at the offer price of N16 per share on the basis of one (1) new ordinary shares for every two (2)...
The Nigerian Stock Exchange (NSE or Exchange) is pleased to announce that it has upgraded its website, to be mobile friendly with a cleaner layout and navigatio​n befitting of the brand. The upgraded website will enable users to access infor​mation quickly and easily on the various products and instruments...
The Nigerian Stock Exchange (“NSE” or “The Exchange”) confirmed today that Mr. Ade Bajomo, Executive Director, Market Operations and Technology has resigned his appointment effective December 31, 2017 to pursue other challenges. Also, Mr. Haruna Jalo-Waziri, in light of his recent appointment as the Chief Executive Officer of CSCS...
Lagos, Nigeria November 7 – ASPM Limited, a subsidiary of OVH Energy Limited, achieved a ground-breaking milestone as it launched its Lagos Midstream Jetty (LMJ) located at the Lagos Apapa Harbour. The Lagos Midstream Jetty is West Africa’s first privately owned mid-stream jetty, conceived by Oando PLC to increase...
In a notice sent to the Nigerian Stock Exchange today, Diamond bank announced the appointment of Christopher Ubosi to its board as an independent non executive director. Approval for the appointment, was granted by the Central Bank of Nigeria on the 3rd of November 2017. Christopher Ubosi has a B.Sc...
The table below contains a listing of all the results released in 2017 for companies quoted on the Nigerian stock exchange. It includes full year and quarterly results released from time to time and published on the website of the NSE. The table displays revenues, profits, taxes and earnings per...
Lafarge Africa, today submitted an application to the Nigerian Stock Exchange (NSE) for the approval and listing of a proposed rights issue. Here are key highlights of the proposed rights issue. The company is offering  3,097,653,023 Ordinary Shares of 50 Kobo each at N42.50 kobo per share...
Oando Plc sent in this press release providing insights into their performance. The company reported strong third quarter pre-tax profits, its first quarterly profits in about 2 years. Here is the press release; Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announces unaudited results...
Ecobank Trans International has announced the successful placement of $400 million convertible debt. The convertible debt was structured in three tranches: The first, a convertible loan facility of $250 million was arranged through Public Investment Corporation (PIC) of South Africa, an institutional holder. The second tranche consisting of $140 million convertible...
Guinness Nigeria Plc has released its 2018 first quarter results for the period ended September 2017. Here are highlights of the results; 30% revenue growth and 24% gross profit increase for quarter one 2018 fiscal year. Operating profit of N2.6bn, N2.0bn improvement compared to...
In a notice sent to the Nigerian Stock Exchange today, Unilever Nigeria Plc has announced the appointment of Chika Nwobi to its board. His appointment was approved on the 19th of October 2018, and takes effect 1st of January 2018. He graduated as an Honors scholar from East Tennessee State...
Crypto currencies are the biggest craze in financial markets right now, for good reason. It’s almost impossible to be in finance in 2017 and not to have heard about the blockchain and the digital tokens it enables, the main ones among them being Ethereum and Bitcoin. I won’t go into...
Stanbic Ibtc Holdings has appointed Mrs Miannaya Ajah Essien as an Independent Director. Mrs Essien is the Managing Partner/Co-founder of Principles Law Partnership. Prior to this, she was the Company Secretary OUT Finance Limited and Head of Chambers Chike Chigbue (SAN) and Co from 1986-1990. Mrs Essien was elevated...
Leading pan African cement manufacturer, the Dangote Cement (www.Dangote.com) has maintained its strong hold in the Nigeria domestic cement market accounting for 65 percent of the Nigerian market volume, while other African plants’ volumes went up by 7.5 percent to 7.0 mta. The Cement company has in the past months...
In an unprecedented move for the Health Care Sector, Evans Medical Plc announced on Friday that it has been served an Ex-Parte Order of the Federal High Court. The order gave Skye Bank the rights to takeover the assets of the company which was used as collateral against loans granted...
In a notice sent to the Nigerian Stock Exchange (NSE) today, International Breweries, Intafact Beverages Limited and Pabod Breweries Limited have approved resolutions authorizing the merger of the three companies. Consequently, the Securities and Exchange Commission (SEC) and the NSE will now be approached for their final approvals. An application...
In a notice sent to the Nigerian Stock Exchange (NSE) today, Dangote Cement Plc has announced the retirement of its current Managing Director, Mr Onne Van Weijde at the end of 2017. Van Weijde will be returning to his home country on completion of his term, but will be...
Pan African financial institution, United Bank for Africa (UBA) Plc has announced its unaudited third quarter financial results ended September 30, 2017, showing remarkable performance across key financial indicators. UBA’s gross earnings grew by 26 percent to N333.9 billion, as against N265.5 billion reported in September 2016. This inspiring result was driven by the strong...
In a notice sent to the Nigerian Stock Exchange (NSE), Fidelity Bank Plc has announced the results of the tender offer for its $300 million 6.85% tender notes. $255 million of the notes were successfully tendered. Subject to the terms of the offer, the company will pay for the...
In a recent notice sent to the Nigerian Stock Exchange (NSE), Ecobank Trans International (ETI) has announced changes to its board. Two Executive Directors (EDs) of the bank, Adesegun Akin-Olugbade and Ignace Clomegah have resigned from the board to focus on other responsibilities. Mr Monish Dutt, has appointed to the...
In a notice released to the Nigerian Stock Exchange (NSE) today, Med-View Airlines has announced the expansion of her operations to Abidjan, Conakry and Dakar. The inaugural flight for the new route is scheduled for October 27, 2017. Medview will also be commencing operations to Dubai by December 2017. Med-View's...
Flour Mills of Nigeria Plc is the latest blue chip firm to embark on capital raise in the Nigerian Stock Exchange (NSE). In a notice sent to the NSE, the firm to raise capital through a combination of rights issue and medium term notes. Guinness Nigeria Plc had last...
In a notice sent to the Nigerian Stock Exchange ( NSE) yesterday, United Capital Plc announced the appointment of Mrs Odiri Oginni as Acting Chief Financial Officer (CFO), effective September 28, 2017. Mrs Oginni replaces Mr Sunday Anene who has been appointed Managing Director of United Capital Asset Management....
This is to inform our stakeholders of the following appointments within the FBN Holdings (FBNH)’s Group: Seye Kosoko has been appointed as the Company Secretary subject to regulatory approvals. He will be replacing Alhaji Tijjani M. Borodo who is retiring as Company Secretary after three decades...
LAGOS, Nigeria, October 4, 2017/ -- True to its mission of expanding horizons, Jumia (www.Jumia.com) introduced on 2nd October Jumia Bot (http://APO.af/595ays), Nigeria’s first e-commerce Bot. Using Jumia Bot, shoppers can order food, find fashion or electronic items and book hotels and flights by simply having an online conversation with...
In a notice sent to the Nigerian Stock Exchange (NSE) today, GT Bank released details of its tender offer. The bank had last month launched a tender offer for $400 million medium term notes.The bank disclosed that it embarked on the offer in order to efficiently manage its debt. According...