MARKETS

PZ Cussons Nigeria Plc announces that the Company’s minority shareholders have voted not to approve the conversion of US$34,264,544 (equivalent to ₦51,795,312,646.72) of the outstanding intercompany loan amount owed by the Company to PZ Cussons (Holdings) Limited (“PZCH”) into equity. The decision was made at PZCN’s Extraordinary General Meeting (EGM)...

The Central Bank of Nigeria (CBN) has sounded the alarm over the growing trend of illicit transactions involving banknotes, urging immediate intervention to curb the practice. CBN Governor, Olayemi Cardoso, made this known at the Bank’s Security Workshop held in Abuja on Thursday, where security and law enforcement agencies gathered...

The House of Representatives on Wednesday passed the bill to reform the insurance sector in Nigeria, seeking the recapitalisation of insurance companies in the country, while providing stiffer penalties for defaulters. The law, which recognizes two classes of insurance in the country (life and non-life insurance), increase minimum capital requirement...

The NGX All-Share Index and Market Capitalization depreciated by 1.19% and 0.71% to close the week at 106,538.60 and N66.717 trillion respectively. Similarly, all other indices finished lower with the exception of NGX AseM and NGX Commodity which appreciated by 0.04% and 0.19% respectively. A total turnover of 1.818 billion...

United Capital Plc (UCAP) has experienced a remarkable seven-year growth trajectory, culminating in an surge in 2024. The company's Profit after Tax (PAT) more than doubled, jumping from N11.42 billion in 2023 to N24.10 billion in 2024, representing a substantial 111.03 per cent increase. Building on a decade of consistent...

The Central Bank of Nigeria (CBN) has directed financial institutions nationwide to strictly comply with global banking standards to help curb the movement of $3 trillion in illicit funds worldwide. The apex bank stated that adherence to this directive would bolster confidence in Nigeria’s financial sector and enhance its stability.  It reaffirmed...

Banks have commenced implementation of the new Automated Teller Machine, ATM transaction fee charge on customers following the Central Bank of Nigeria, CBN’s directive. The News Agency of Nigeria correspondent who monitored some banks’ ATM gallery in Abuja and environs on Sunday, reports that some customers were lamenting about the...

...Board approves record N4.4bn dividend for shareholders Nigerian Exchange Group Plc (NGX Group or the Company) has announced its audited financial results for the year ended 31 December 2024, delivering a record-breaking profit before tax (PBT) of N13.6 billion, marking an impressive 157.3% year-on-year growth. This strong performance was driven...

United Capital Infrastructure Fund (UCIF), the infrastructure fund of leading Pan-African financial services group, United Capital Plc, is pleased to announce a total dividend distribution of N1.98 billion to its unitholders, for the year ended 2024. In accordance with its bi-annual distribution structure, the Fund paid an interim distribution of...

The Central Bank of Nigeria (CBN) Thursday resolved to retain the Monetary Policy Rate (MPR), the benchmark interest rate, at 27.50 per cent with the asymmetric corridor of +500/-100 basis points around the MPR. The apex bank, also left all monetary policy tools unchanged, including the Cash Reserve Ratio (CRR)...