Lafarge Africa Plc yesterday formally completed its N89.2 billion rights issue with the listing of additional 7.43 billion ordinary shares of 50 kobo each that arose from the new issue at the Nigerian Stock Exchange (NSE). With the listing of the additional 7.43 billion ordinary shares, the total issued and fully paid up shares of […] …
equities
Transcorp to scale up power business with $2.5b new investment
Transnational Corporation of Nigeria (Transcorp) Plc will scale up its power business with additional investment of about $2.5 billion as the conglomerate seeks to consolidate the profitability of its businesses. The board and management of the conglomerate yesterday presented the underlying facts behind its operations to the investing public at the Nigerian Stock Exchange (NSE). […] …
NSE marks global money week
The Nigerian Stock Exchange (NSE) has concluded plans to celebrate this year’s Global Money Week across its offices nationwide. The week begins from Monday, March 25 and ends on Friday, March 29, 2019. The week’s activities will include an interactive session with executive management of the Exchange, financial literacy fair, art exhibition, a tour of […] …
Access Bank rallies on merger completion
•Equities drop by N58b Access Bank Plc was the most active stock and the third highest gainer yesterday at the Nigerian equities market as investors sought to lock in into the first tier commercial bank, which consummated its merger with Diamond Bank Plc on Tuesday. The Nigerian Stock Exchange (NSE) had on Wednesday placed full […] …
CISI launches Nigerian advisory council
The Chartered Institute for Securities & Investment (CISI) has launched its Nigerian National Advisory Council (NAC) to foster the activities of the global investment certification body in Nigeria. The NAC was established with the dual purpose of supporting CISI membership in Nigeria and of guiding the CISI’s activities in Nigeria in developing professional standards across […] …
Court seals Access Bank, Diamond Bank merger
The Federal High Court (FHC) has sanctioned the approved scheme of merger between Access Bank Plc and Diamond Bank Plc, the final seal that effectively brings the merger of the two commercial banks into effect. Consequently, the Nigerian Stock Exchange (NSE) yesterday suspended trading on the shares of Diamond Bank Plc, which will be dissolved […] …
Lagos “ponzi” firm shut
Securities and Exchange Commission (SEC) has sealed up the premises of an Ikeja, Lagos-based firm, Growing Circle International (G-Circle) for allegedly engaging in ponzi scheme. In a circular, SEC stated that it conducted surveillance on the activities of G-Circle after it received complaint from a member of the public. According to the Commission, investigation revealed […] …
Our results show exceptional financial health, says Zenith Bank
Steady and sustained growth in key performance indicators despite challenging operating environment show the exceptionally good financial health of Zenith Bank Plc, directors of the bank have said. At the annual general meeting yesterday in Lagos, Chairman, Zenith Bank Plc, Mr Jim Ovia, said the 2018 business year was a challenging year for all operators […] …
Equities: Analysts forecast mixed performance
Stanbic IBTC, Eland Oil and Gas in N18b deal
Stanbic IBTC Holdings and its parent company, Standard Bank Group of South Africa, have partnered with Eland Oil & Gas, on a new accordion facility and increased borrowing base of $50 million (about N18 billion). The facility is being underwritten by Stanbic IBTC Bank and Standard Bank while Stanbic IBTC Capital Limited will act as […] …