PZ Cussons plc and Wilmar International Limited jointly announce Wednesday (Today) that the two parties have agreed definitive terms for Wilmar to purchase the 50 per cent equity stake in PZ Wilmar Limited held by PZ Cussons plc, for cash consideration of $70m. According the transactional document, completion of […]
Author: Business Nexus
FGN Raises ₦4.01bn From June Savings Bonds Amid Lower Yield Environment
The Federal Government of Nigeria has raised a total of ₦4.01bn from its June 2025 issuance of the Federal Government of Nigeria (FGN) Savings Bonds, according to data published by the Debt Management Office (DMO). The offer, conducted between June 2 and June 6, 2025, saw strong interest […]
ASHON faults Suspension Of Dividend Payment By Banks, Assures Investors
The Association of Securities Dealing Houses of Nigeria (ASHON) expresses concern over the Central Bank of Nigeria’s (CBN’s) recent circular temporarily suspending dividend payments by banks. This directive, issued on June 13, 2025, according to the apex bank, aims to ensure compliance with regulatory forbearance and Single Obligor Limit […]
Chances Rise For Afreximbank Involvement In Debt Restructuring- JPMorgan
The chances of Afreximbank getting involved in a debt restructuring have increased, JPMorgan said on Tuesday, while also upgrading its recommendation on the lender’s bonds to overweight, citing valuations in the wake of the Fitch downgrade. According to Reuters, the African trade and development lender has been at […]
Fitch downgrades Afreximbank To One Notch Above ‘Junk’
Fitch downgraded Afreximbank’s credit rating to one notch above junk on Wednesday, with a negative outlook, citing high credit risks and weak risk-management policies. According to Reuters, the one-notch downgrade to BBB- comes as the African lender battles to protect its loans from restructuring in Ghana, Zambia […]
Oando Profit-After-Tax up 267% to N220 billion in FY2024 Audited Results
Oando PLC, Africa’s leading integrated energy company listed on both the Nigerian Exchange Group (NGX) and Johannesburg Stock Exchange (JSE), posted robust Audited Full Year (FY) 2024 financial results with a 44% increase in revenue to N4.1trillion compared to N2.9 trillion in FY 2023. In the upstream, Oando’s production […]
Airtel Sets ₦1,589/$ for Final Dividend Conversion
Airtel Africa Plc has announced the currency arrangements for its final dividend payment for the financial year. The Board has recommended a final dividend of 3.9 cents per ordinary share, payable on 25 July 2025, to shareholders whose names appear on the register as at the close of business […]
NEPL/Seplat JV Launches Mini-Grid Project, Celebrates YEP Graduation In Edo State
The NEPL/Seplat Joint Venture (JV) has unveiled a solar-powered mini-grid project, graduation of its pioneer Youth Entrepreneurship Programme (YEP) participants and the commissioning of a borehole project in Ologbo N’ugu, Edo State. Themed, “Building Capacity for a Greener Grassroots Economy,” the three-pronged initiative is centered on providing access to […]
FG, Nestlé Nigeria Partners To Launch Dairy Technical Skills Development Program
Nestlé has said that it is in collaboration with the Federal Ministry of Livestock Development to launch a Dairy Technical Skills Development Program. This initiative, formalized through a Letter of Intent (LOI) signed today in commemoration of World Milk Day 2025, aims to enhance the quality and […]
SEC Sounds Alarm on Ponzi Schemes, Calls for Vigilance to Safeguard Investors, Economy
The Securities and Exchange Commission (SEC) has sounded a renewed warning on the dangers of Ponzi schemes, highlighting their devastating impact on investor confidence, financial stability, and the Nigerian capital market. This was the central theme of a paper titled “Ponzi Schemes: Avoiding the Pitfalls of Illegality” presented […]