Central Securities Clearing System (CSCS) Plc has released its audited consolidated and separate financial statements for the year ended December 31, 2024, proposing a dividend of N1.76 per share, amounting to a total payout of N8.8bn. Total revenue grew by 37 per cent to N26.1bn in 2024, up from […]
Category: Financial Market
Financial Market
SEC: ISA 2025 Bans Unregistered Digital Asset Exchanges, Online Forex Platforms
The newly enacted Investments and Securities Act, 2025 (ISA 2025) has made it illegal to operate digital asset exchanges or online foreign exchange trading platforms without formal registration with the Securities and Exchange Commission (SEC). Signed into law by President Bola Ahmed Tinubu, ISA 2025 significantly strengthens the regulatory framework […]
Shareholders Approve Afriland Properties’ ₦865.5m Dividend Payout
Shareholders of Afriland Properties Plc has approved a total dividend of of ₦865.56m proposed by the company’s Board of Directors. The dividend which was approved by the shareholders at the company’s 12th Annual General Meeting (AGM) was equivalent to 63 kobo per ordinary share; a 152 per cent […]
VFD Microfinance Bank Reports N366.6 million PAT in 2024
VFD Microfinance Bank today announced the successful conclusion of its 3rd Annual General Meeting (AGM) for the 2023 financial year. The meeting, themed “Banking with Purpose, Delivering with Impact,” provided shareholders with a comprehensive review of the bank’s performance in a challenging economic climate and offered a […]
Fitch Sees Limited Impact of U.S. Tariffs on Africa
Global credit rating agency Fitch Ratings has said that the ongoing freeze on U.S. foreign aid and rising global trade tensions, including the imposition of tariffs, are unlikely to lead to widespread credit downgrades cross Africa. The agency noted that the region’s limited integration into global value chains […]
US Tariff Policy To Threaten Nigeria’s FX Inflows, Key Exports – NACCIMA
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has raised alarm over the far-reaching implications of the United States’ newly imposed 14 per cent tariff on Nigerian exports, warning that the measure could significantly reduce foreign exchange (FX) inflows and destabilize key sectors […]
Africa Prudential Pays 82% Of Earnings Per Share As Dividends
Africa Prudential Plc has announced a ₦1.2bn total dividend payout following its financial performance in 2024. The company’s Profit After Tax (PAT) grew by 88 per cent, rising from ₦962.9m in 2023 to ₦1.81bn in 2024. The company introduced an interim dividend of 15 kobo per share […]
ISA 2025 Will Stimulate Economic Growth – SEC
The Securities and Exchange Commission (SEC) has said that the Investments and Securities Act 2025 is a game changer that has the strong potential for stimulating growth for the Nigerian capital market and the economy. Director General of the SEC, Dr. Emomotimi Agama who stated this during an […]
ISA 2025: Ponzi Operators Risk 10 Year Jail Term, N20m Fine -SEC
Promoters and operators of any entity engaged in a prohibited scheme commits an offence and is liable on conviction to a penalty of not less than N20m or imprisonment to a term of 10 years or both. This is one of the provisions of the newly […]
CPPE Warns Against Nigeria’s Planned Solar Panel Ban
The Centre for the Promotion of Private Enterprise (CPPE) has cautioned the federal government against its proposed ban on the importation of solar panels, warning that such a policy could exacerbate Nigeria’s energy crisis and deter investment in renewable energy solutions. The warning follows a statement […]