Company Report
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Just In: BUA Cement cut price of Cement to N3,500/bag
The management of BUA Cement Plc has announced the reduction in the price of cement to N3,500 per bag effective from October 2, 2023. The price of BUA Cement was N5,500 per bag and the Chairman, of the company, Abdul Samad Rabiu, after a meeting with President Bola Tinubu in mid-September disclosed plans to cut the price. The company in…
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Ecobank alerts customers on Sim card fraud increase
Ecobank has once again, raised alarm on the dangers of SIM swap fraud, stressing that fraudsters could use it to impersonate them. In a message to customers via email, the bank explained that SIM swap fraud occurs when scammers use your phone number to access your accounts. According to the bank, “Scammers impersonate you and trick your mobile phone’s carrier…
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BREAKING: Capital Hotels to delist from NGX
Capital Hotels Plc on Monday officially announced its voluntary delisting from the Nigerian Exchange Limited (NGX) as recommended by the board of directors. The company in a statement obtained by WesternPost stated that the Exchange approved the delisting application subject to Capital Hotels evidence of opening an escrow account in the Registrar’s name and evidence that shareholders who have accepted…
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Access Holdings reports N940.3bn gross revenue in H1 2023
Access Holdings Plc has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2023, to the Nigerian Exchange Group (NGX). The published results showcased a set of impressive performance highlights, affirming its steadfast commitment and prominent industry standing in delivering sustainable returns to stakeholders. Access Holdings reported a robust gross earnings figure of N940.3billion, reflecting…
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Fidelity Bank acquires 100% stake in Union Bank UK subsidiary
Fidelity Bank has completed the acquisition of the 100 per cent equity in Union Bank UK, a subsidiary of the Union Bank of Nigeria. This was disclosed in a corporate notice filed with the Nigerian Exchange Limited. Fidelity Bank had in August 2022 announced the proposed acquisition of the UK bank. According to the 2022 annual reports of Union Bank…
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BREAKING: UBA records significant growth in revenue, with a PBT of N404bn
United Bank for Africa (UBA) Plc, delivered an outstanding performance for the half year ended June 30, 2023, as announced in its audited financial report. The results released to the Nigerian Exchange Limited (NGX) on Tuesday showed that the Group recorded double and triple-digit growth across its major income lines, as it continued to show substantial progress in increasing the…
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Zenith Bank hits N16trn in total assets
Zenith bank Plc on Monday announced half year ended June 30, 2023 with total assets crossing the N16trillion mark which is an increase of 31 per cent from N12.3trillion reported in 2022 full financial year. The group’s customers’ deposits grew by 30 per cent from N9 trillion in 2022 to N11.6 trillion in June 2023, while loans and advances also…
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BREAKING: Zenith Bank declares N291.73bn profit in H1 2023
Zenith Bank Plc on Monday announced N291.73billion profit in its audited half year ended June 30, 2023 result and accounts, an increase of 161.85 per cent from N111.41billion reported in corresponding period of 2022. The leading financial institution in profits also announced N350.36 billion profit before tax in H1 2023, an increase of 169.49 per cent from N130.01billion in H1…
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Investigation: Dangote Cement not on sale in Benin Republic
… Cement sells at an average price of N6,216 in Benin despite the regulation The allegation that went viral on social media last week that Dangote Cement Plc was selling a bag of 50kg cement to Nigerians at an exploitative rate of N5,200 while it sells the same quantity of cement at N1,500 in the Republic of Benin was not…
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Fidelity bank records PBT of N76.3bn, declares N0.25 interim dividend
Fidelity Bank Plc has recorded an impressive 204.4per cent growth in Profit Before Tax for the first half of 2023 to N76.3billion according to the bank’s recently issued financial result. A review of the results published on the Nigerian Exchange Group (NGX) showed a positive performance across all financial indices, reaffirming the Bank’s position as one of the fastest growing…
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