Shareholders of Custodian Investment Plc will receive an interim dividend of 15 kobo for the half year ended June 2024. This announcement was made in the company’s updated corporate action notice to the Nigerian Exchange Limited (NGX). The dividend, subject to appropriate withholding tax, will be paid to […]
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Dangote Cement Grows Half-Year Revenue By 139.9%
Dangote Cement Plc recorded an increase in revenue from Pan-African operations by 139.9 per cent, growing to N807.1bn as against N336.4bn, reported in the corresponding period of 2023. The cement plant also reported a 10.9 per cent increase in the Nigerian market which rose from 8.0Mt to 9.0Mt in the […]
Nigerian banks get N21 trillion deposits in three months
Nigerian banks added about N21 trillion in new deposits in the first quarter of this year to push the sector’s total deposits to about N136 trillion, on course to surpass its 2023 business year performance. Audited reports and regulatory filings by commercial banks and their holding companies showed that individuals […]
Fidelity Bank Extends Public Offer and Rights Issue to August 12, Increases Offering Size by N78.35 billion
Fidelity Bank Plc has announced an extension of its public offer and rights issue until August 12, 2024. Originally set to conclude on July 29, 2024, this extension has been approved by the Securities and Exchange Commission (SEC) and will see an increase in the total offer size from N127.1 […]
‘SIM disconnection unrelated to planned protest’ – ALTON Chairman
Gbenga Adebayo, chairman of the Association of Licensed Telecommunication Operators in Nigeria (ALTON), has shared reasons why SIM cards without linked National Identification Numbers were barred before the July 31, 2024 deadline given by the Nigeria Communications Commission (NCC). In a recent interview with Arise TV, the ALTON chairman […]
Financial experts want Tinubu withhold assent to 70% forex windfall levy
Some financial experts have urged the Federal Government to reconsider the imposition of a 70% foreign exchange (forex) windfall levy on banks. They urged President Bola Tinubu to withhold assent to the Finance Act (Amendment) Bill 2024 as passed by the National Assembly, which increased the windfall levy on banks’ […]
Resolution of identity issues will reposition capital market – SEC
The Securities and Exchange Commission (SEC) says the resolution of identity management issues would help reposition the Nigerian capital market for greater potential. The Director General of the SEC Dr. Emomotimi Agama who stated this at a Workshop on Identity Management for the Capital Market held in Lagos, Wednesday, said […]
Kuda partners with SeerBit on cardless payments online
Kuda has partnered with SeerBit, a payment gateway, to give Kuda’s 7 million-plus customers a safe and easy option for making cardless payments online. The Nigerian fintech’s retail customers can now look out for the ‘Pay With SeerBit’ option on local websites and apps, then pay directly from their Kuda […]
Access Bank disburses N740 billion digital loans
L-R: Oladisun Dawodu, team lead, digital lending; Njideka Esomeju, group head, consumer banking; and Efe Obaigbena, unit head, digital leading, all of Access Bank plc, at the revamp of Quick Bucks Access Bank digital loan platform in Lagos, Tuesday. Access Bank has granted 18 million digital loans worth N740 […]
CBN raises interest rate by 50 basis points to 26.75%
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has announced a 50 basis point increase in the interest rate, raising it from 26.25% to 26.75%. This decision was disclosed by the Governor of the CBN, Mr. Olayemi Cardoso, at the conclusion of the bank’s 296th MPC meeting in […]