Unilever Nigeria announces appointment of Michael Ikpoki as Independent non-Executive Director

Posted by - February 2, 2021

Unilever Nigeria Plc has appointed Mr. Michael Ikpoki as an Independent non-Executive Director, effective from February 1, 2021. In statement released through the Nigerian Stock Exchange (NSE), the board of the company warmly welcomed Mr Ikpoki and wished him success in his new role. Michael Ikpoki is an acccomplished multinational business executive and leader, lawyer

Ardova Plc declares plan to acquire Enyo Retail and Supply Limited

Posted by - January 15, 2021

Ardova Plc (AP)announced recently that it had entered into discussions with the shareholders of Enyo Retail and Supply Limited relating to AP acquiring Enyo. The Nigerian integrated energy company explained that Enyo is one of the newest and fastest growing retail and supply companies in the downstream sector. Enyo is a technologically driven player and

UBA records N454.4bn  gross earnings as PBT rises to N90.4bn

Posted by - November 25, 2020

United Bank for Africa (UBA) Plc, has released its unaudited 2020 third quarter financial results, with impressive growth in gross earnings, which rose to N454.4 billion, from N428.7billion recorded in September 2019. According to the report filed with the Nigerian Stock Exchange (NSE) recently, UBA reported a Profit Before Tax of N90.4 billion compared to

Stanbic IBTC Posts N183bn Earnings, N66bn Profit in Nine Months

Posted by - October 27, 2020

Stanbic IBTC Holdings Plc recently announced its financial results for the nine months ended September 30, 2020, showing increased in performance indicators. Contrary apprehensions that the impact of the COVID-19 pandemic on the economy might affect the performance of financial institutions, Stanbic IBTC Holdings still recorded improved bottom-line. It recorded gross earnings of N183.286 billion

NSE Enhances Fixed Income Market, Capitalisation Rises 27% to N16trn

Posted by - October 5, 2020

The Nigerian Stock Exchange (NSE) has improved its fixed income securities market segment as well as the associated benefits on its platform. This is just as the fixed income market capitalisation has increased from N12.9 trillion at the end of 2019, to N16.4 trillion, showing a jump by 27 per cent. The NSE disclosed this

NSE market capitalisation maintains growth by N67 billion

Posted by - September 28, 2020

The Nigerian Stock Exchange (NSE) key market indicators recently sustained positive rally, appreciating by 0.50 per cent due to monetary policy rate cut to 11.5 per cent. Specifically, the market capitalisation rose by N67 billion to close at N13.474 trillion against N13.407 trillion recorded on Tuesday. Also, the NSE All-Share Index inched higher by 128.12

African Alliance Insurance Appoints Adekola acting Managing Director

Posted by - September 4, 2020

The Board of Directors of African Alliance Insurance Plc, one of Nigeria’s foremost insurance companies has announced the appointment of Mrs. Olabisi Adekola as the new acting managing director/CEO of the company, effective September 1, 2020. Her appointment followed the exit of Mrs. Funmilayo Omo effective August 31, 2020. In a notification to the Nigerian

AXA Mansard Insurance to divest 100% Equity in Pension to Verod Group

Posted by - August 10, 2020

AXA Mansard Insurance Plc has divested from its subsidiary, AXA Mansard Pensions Limited. The insurer has sold its stake in the company to Eustacia Limited (a member of the Verod Group). In a notification to the Nigerian Stock Exchange (NSE) recently, AXA Mansard explained that a sale and purchase agreement was entered with Eustacia Limited

Deloitte Launches ‘Deloitte Private’ to Support SMEs, Others

Posted by - August 3, 2020

Deloitte Africa Leadership has launched the Deloitte Private in West Africa, a practice established to focus on serving SMEs), high net worth individuals, family-owned businesses and Private Equity houses. The launch was held in partnership with the Nigerian Stock Exchange (NSE) under its Growth Board programme. The Growth Board, launched in January 2020, is a

Unity Bank Records N44.5bn Gross Earnings in 2019

Posted by - June 10, 2020

Unity Bank Plc has announced gross earnings of N44.59 billion for its 2019 financial year, up from the N34.65 billion it recorded in 2018. The audited 2019 full year results made available on the floor of the Nigerian Stock Exchange (NSE), showed that the bank recorded a profit before tax (PBT) of N3.64 billion, while