The Board of Directors of Unilever Nigeria Plc has appointed Mr. Bolaji Balogun as an Independent Non-Executive Director and Chairman of the Board of the company. According to the company’s notice to the Nigerian Exchange Limited (NGX) and the investment public, the appointment is with effect from 16th May 2024. […]
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Non-monetary factors undermine MPR’s impact on Nigeria’s inflation- Financial experts
Some financial experts have indicated that the heavy reliance on the Monetary Policy Rate (MPR) to control inflation appears to be ineffective, considering the significant non-monetary factors contributing to inflation in Nigeria. The expert stated this in an exclusive chat with Business Nexus while reacting CBN’s increase of interest […]
Africa Prudential Plc appoints Christabel Onyejekwe as non-executive director
The Board of Directors of Africa Prudential Plc has appointed Mrs. Christabel Onyejekwe as an Independent non-executive director of the company. This was contained in the company’s notice to the Nigerian Exchange Limited and the investing public. According to the company statement the appointment took effect from May 24, […]
Wema Bank shareholders approve N200 billion capital raise
….50 kobo dividend Shareholders of Wema Bank Plc, one of the nation’s oldest commercial banks have approved the Bank’s quest to raise N200 billion in capital at the group’s annual general meeting (AGM) held electronically today. Also, the shareholders endorsed the management’s 50 kobo per share dividend payouts for […]
Fidelity Bank to raise N127.1 billion from right issue and public offer
Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to N127.1 billion by way of a Rights Issue to existing shareholders and a Public Offer. The Combined Offer is a part of the Bank’s strategy to increase its share capital base in compliance with […]
CIS inducts Zenith Bank’s GMD, Ebenezer Onyeagwu as associate member
The Chartered Institute of Stockbrokers (CIS) has inducted Dr. Ebenezer Onyeagwu, the Group Managing Director and Chief Executive Officer of Zenith Bank Plc, as an associate member. The induction took place at the Institute’s Council Chamber in Lagos. In a statement issued by the institute, Mr. Oluropo Dada, the […]
Fiscal and monetary policy missteps under Tinubu escalated inflation and naira depreciation-Economists
Financial experts have assessed the fiscal and monetary policies implemented during President Tinubu’s first year in office, concluding that these measures have resulted in macroeconomic instability. Following his inauguration as the 16th President of Nigeria at Eagle Square, Abuja, President Bola Tinubu announced the removal of the fuel subsidy. […]
WFE’s CEO re-elected to 4th term as Vice Chair of IOSCO’s AMCC
The World Federation of Exchanges (WFE), the global industry association for exchanges and clearing houses has announced the re-election of its CEO, Nandini Sukumar, to the position of Vice Chair of the International Organization of Securities Commission’s (IOSCO) Affiliate Members’ Consultative Committee (AMCC). The AMCC comprises 68 IOSCO affiliate […]
MTN Group’s Q1 2024 service revenue dips 18.8% on MTN Nigeria challenges
MTN Nigeria grows subscriber base to 77.749 million in Q1’2024 to retain the largest market. MTN Nigeria’s subscriber base grew by 1.3% to 77.749 million in the first quarter ending March 2024 from 76.751 million reported in the corresponding period of 2023 to retain the largest market outside South Africa. […]
MRS Oil Sets N135 Per Share As Exit Consideration For Delisting
The Board of MRS Oil Nigeria Plc has said that as part of exit consideration from the Nigerian Exchange Limited (NGX), it will pay dissenting shareholders N135.00 per ordinary share of 50 kobo each. The Board stated this in its updated explanatory circular on the proposed voluntary delisting of issued […]