Flour Mills of Nigeria Plc (FMN), one of Nigeria’s largest food and agro-allied companies, has announced plans to acquire all shares held by its minority shareholders following the receipt of necessary regulatory approvals. In a statement issued to the Nigerian Exchange Limited (NGX), the company disclosed that its majority […]
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CBN’s Latest Rate Hike to Strain Businesses and Impact Market Sentiment, Experts Warn
Several financial analysts have voiced concerns regarding the Central Bank of Nigeria’s (CBN) recent decision to raise the Monetary Policy Rate (MPR) by 50 basis points, despite emerging signs of economic improvement. In an interview, the analysts warned that this rate hike could elevate borrowing costs, create additional pressure on […]
Access Bank’s Contributions in Africa’s Transition to a Low Carbon Economy
Africa is facing a growing challenge of managing its waste and natural resources in a sustainable way. The current traditional linear economic model, characterized by a “take, make, dispose” pattern that is extracting, consuming, and disposing of materials, is inefficient, wasteful, and harmful to the environment and human health. According […]
NASD Targets Sustainable Profitability, Dividend Payout To Shareholders
The Chairman of Nigeria’s Over-the-Counter (OTC) Exchange, National Association of Securities Dealers (NASD) Plc, Mr. Kayode Falowo, at the company’s 11th Annual General Meeting (AGM) in Lagos stated that the board and management had taken steps to address the concerns expressed by the shareholders on improving financial performance and […]
Stockbrokers Laud Ellah Lakes’ Investment In Palm Plantation, Livestock
Stockbrokers have commended the management of Ellah Lakes Plc for its investment in palm plantation and livestock, following a recent visit to the company’s facilities in Iguelaba Community, Edo State. A delegation of stockbrokers, led by the Managing Director, Atlas Portfolio, Muyiwa Adeyemi, visited Ellah Lakes Plc’s plantation in […]
Access Holdings Reports N2.2trn Gross Revenue In Half Year 2024
Access Holdings has released its interim consolidated and separate financial report for the half year ended June 30, 2024. The report showed that the bank grew its gross revenue by 133.5 per cent in six months to N2.2trn from N940bn during the comparable period of last year. […]
Jaiz Bank Wins 2024 Global Most Promising Islamic Bank Award
By Prosper Ndubuisi Jaiz Bank, Nigeria’s non-interest bank, has emerged the global most promising Islamic bank in 2024. The Global Islamic Finance Awards (GIFA) yesterday announced Jaiz Bank the overall winner in this category over two other nominees of equal pedigrees, during the Global Islamic Finance Summit (GIFS) […]
Stanbic IBTC Bank splashes N28m on customers in 3.0 grand finale
Stanbic IBTC Bank has honoured 84 of its customers with N28m in the just concluded Reward4Savings Promo 3.0. This prestigious event took place at the iconic Stanbic IBTC Towers on Walter Carrington Crescent, Victoria Island, Lagos; marking the end of a nationwide initiative to promote a strong savings culture […]
Nigeria’s GDP to record improved growth by 2026 – Wale Edun
Mr Wale Edu, the Minister of Finance and Coordinating Minister of the Economy, has expressed optimism that Nigeria’s Gross Domestic Product (GDP) will record an improved performance by 2026. Edun said this at the Access Bank Annual Corporate Forum 2024 on Thursday in Lagos with the theme, ‘Nigeria’s Economic rebirth: […]
Bank of England Holds Interest Rates At 5%
By Prosper Ndubuisi The Bank of England (BoE) has opted to maintain interest rates at 5 per cent in its latest monetary policy review. The decision by the Monetary Policy Committee (MPC) was reached with a majority of 8-1, with one member advocating for a reduction to 4.75 per […]