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Jennete Ugo Anya
- April 18, 2025
Nigeria, China Sign $1bn Sugar Deal
China has cemented its growing influence in Africa’s agro-industrial space with a $1 billion sugarcane cultivation and processing deal signed with Nigeria. The agreement between National Sugar Development Council (NSDC) and Chinese industrial giant SINOMACH marks a strategic move to unlock Nigeria’s sugar industry, drive rural industrialisation, and deepen the Nigeria-China economic alliance under President […]
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- April 18, 2025
CBN Grants Ascensia Finance Approval To Operate
The Central Bank of Nigeria (CBN) has granted final approval to Ascensia Finance Company Limited, officially licensing it to operate as a finance company in Nigeria. In a letter dated April 10, 2025, the apex bank confirmed the decision after a comprehensive review of Ascensia’s application and documentation. The approval marks a significant step in […]
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- April 15, 2025
NGX Group Declares N2 Dividend
Nigerian Exchange Group Plc (NGX Group) has declared a final dividend of N2.00 per share, following the approval of its audited financial statements for the fiscal year ended December 31, 2024. The announcement was made during its 64th Annual General Meeting (AGM), reinforcing investor confidence in the group’s robust financial performance and strategic direction. NGX […]
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- April 15, 2025
Geregu Power Reports N13bn Profit In Q1 2025, Wins Corporate Compliance Award
Geregu Power Plc has reported a pre-tax profit of N13.01 billion for the first quarter ended March 31, 2025, representing a 40.57 percent drop compared to N21.9 billion in the same period last year. The company’s revenue also declined sharply by 37.02 percent to N31.7 billion, down from N50.4 billion in Q1 2024. Despite the […]
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- April 15, 2025
SEC Begins Implementation of ISA 2025
The Securities and Exchange Commission (SEC) has officially commenced the implementation of the newly enacted Investments and Securities Act, 2025 (ISA 2025), following its recent signing into law by President Bola Tinubu. This legislation repeals the 2007 version of the Act and ushers in significant reforms aimed at modernising Nigeria’s capital market. A key change […]
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- April 13, 2025
First Holdco Closes at N1.046trn Market Cap Amid Share Dip
First Holdco Plc, Nigeria’s oldest listed financial services group, ended trading on Friday, April 11, 2025, with a market capitalisation of ₦1.046 trillion, despite negative price movement and regulatory filing delays. The group’s share price fell to ₦25 following disclosure that its audited financial statements for the 2024 fiscal year are still awaiting approval from […]
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- April 13, 2025
Sujimoto Launches N5bn Commercial Paper At 25.06% To Fund Real Estate Expansion
Luxury real estate developer, Sujimoto Holdings Limited, has opened its naira series 1 Commercial Paper for subscription, seeking to raise up to N5 billion at a discount rate of 25.06 percent, according to Cowry Asset Management Limited. The offer is part of Sujimoto’s N20 billion Commercial Paper Programme. With a tenor of 270 days, the […]
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- April 13, 2025
MTN Considers Second Public Offer In Nigeria
MTN Group has revealed plans to further reduce its stake in MTN Nigeria through a second public share offer, aiming to cut its current 76 percent holding to 65 percent, once the unit returns to profitability. The initiative highlights the telecom giant’s commitment to expanding Nigerian ownership and enhancing retail investor participation in one of […]
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- April 13, 2025
ECOWAS Bank Approves €230m To Boost Infrastructure In West African
The Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID) has approved a fresh round of funding totaling €230 million and $10 million to finance high-impact infrastructure and economic development projects across West Africa. The announcement was made following the bank’s 91st Ordinary Board Meeting chaired by Dr. George Donkor, President […]
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- April 9, 2025
VFD Group Reports N11.2bn Profit, Eyes Strategic Divestment
VFD Group Plc has reported a significant financial turnaround, posting a pre-tax profit of N11.2 billion for the full year ended December 31, 2024. This comes after the investment and proprietary trading firm recorded a pre-tax loss of N1 billion in 2023, signalling a strong recovery driven by a surge in investment income and improved […]
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