Chris Ugwu, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Thu, 06 Jun 2024 07:43:43 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Chris Ugwu, Author at Nairametrics 32 32 201037849 Geregu Power signs deal with Siemens to increase generation capacity to 1,200MW https://nairametrics.com/2024/06/01/geregu-power-signs-deal-with-siemens-to-increase-generation-capacity-to-1200mw/ https://nairametrics.com/2024/06/01/geregu-power-signs-deal-with-siemens-to-increase-generation-capacity-to-1200mw/#respond Sat, 01 Jun 2024 07:42:28 +0000 https://nairametrics.com/?p=490406 Geregu Power Plc has entered a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant in the country. 

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]]> https://nairametrics.com/2024/06/01/geregu-power-signs-deal-with-siemens-to-increase-generation-capacity-to-1200mw/feed/ 0 490406 Reports: Billionaire Femi Otedola accuses Zenith Bank of fraud in legal battle   https://nairametrics.com/2024/05/31/reports-billionaire-femi-otedola-accuses-zenith-bank-of-fraud-in-legal-battle/ https://nairametrics.com/2024/05/31/reports-billionaire-femi-otedola-accuses-zenith-bank-of-fraud-in-legal-battle/#respond Fri, 31 May 2024 12:57:12 +0000 https://nairametrics.com/?p=490357 Femi Otedola, chairman of FBN Holdings and principal owner of Geregu Power, has levelled serious accusations against Zenith Bank, alleging fraud and mismanagement in dealings involving his former company, Zenon Petroleum & Gas, and other related firms, according to a report by Premium Times.  

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]]> https://nairametrics.com/2024/05/31/reports-billionaire-femi-otedola-accuses-zenith-bank-of-fraud-in-legal-battle/feed/ 0 490357 Africa Prudential Plc appoints Christabel Onyejekwe as non-executive director effective May 2024 https://nairametrics.com/2024/05/31/africa-prudential-plc-appoints-christabel-onyejekwe-as-non-executive-director-effective-may-2024/ https://nairametrics.com/2024/05/31/africa-prudential-plc-appoints-christabel-onyejekwe-as-non-executive-director-effective-may-2024/#respond Fri, 31 May 2024 12:50:48 +0000 https://nairametrics.com/?p=490352 The appointment took effect from May 24, 2024 and subject to the approval of the Securities and Exchange Commission.

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]]> https://nairametrics.com/2024/05/31/africa-prudential-plc-appoints-christabel-onyejekwe-as-non-executive-director-effective-may-2024/feed/ 0 490352  TLG Capital announces $5 million investment in Liberia swimwear manufacturing hub  https://nairametrics.com/2024/05/30/tlg-capital-announces-5-million-investment-in-liberia-swimwear-manufacturing-hub/ https://nairametrics.com/2024/05/30/tlg-capital-announces-5-million-investment-in-liberia-swimwear-manufacturing-hub/#respond Thu, 30 May 2024 17:56:17 +0000 https://nairametrics.com/?p=490306 TLG Capital, an African investment firm, is investing $5 million in Liberty & Justice (L&J), an Africa-based swimwear manufacturing hub in Liberia. 

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]]> https://nairametrics.com/2024/05/30/tlg-capital-announces-5-million-investment-in-liberia-swimwear-manufacturing-hub/feed/ 0 490306 Chrisland Schools to issue N2 billion in commercial paper @30% interest rate https://nairametrics.com/2024/05/30/chrisland-schools-opens-n2-billion-commercial-paper-issuance/ https://nairametrics.com/2024/05/30/chrisland-schools-opens-n2-billion-commercial-paper-issuance/#respond Thu, 30 May 2024 16:16:11 +0000 https://nairametrics.com/?p=490286 Chrisland Schools Limited has opened up to N2 billion series 4 (Tranche A &B) Commercial Paper issuance for Subscription under its N8 billion Commercial Paper Issuance Programme.

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]]> https://nairametrics.com/2024/05/30/chrisland-schools-opens-n2-billion-commercial-paper-issuance/feed/ 0 490286 Sterling Financial Holdco to seek shareholders’ approval for N200 billion capital raise https://nairametrics.com/2024/05/30/sterling-financial-holdco-to-seek-shareholders-approval-for-n200-billion-capital-raise/ https://nairametrics.com/2024/05/30/sterling-financial-holdco-to-seek-shareholders-approval-for-n200-billion-capital-raise/#respond Thu, 30 May 2024 12:40:04 +0000 https://nairametrics.com/?p=490269 The capital increase may be executed via rights issues, private placements, public offerings, or other transaction methods.

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]]> https://nairametrics.com/2024/05/30/sterling-financial-holdco-to-seek-shareholders-approval-for-n200-billion-capital-raise/feed/ 0 490269 FX market turnover drops 27.68% to $9.12 billion in April – FMDQ reports https://nairametrics.com/2024/05/30/fx-market-turnover-drops-27-68-to-9-12-billion-in-april-fmdq-reports/ https://nairametrics.com/2024/05/30/fx-market-turnover-drops-27-68-to-9-12-billion-in-april-fmdq-reports/#respond Thu, 30 May 2024 07:34:24 +0000 https://nairametrics.com/?p=490249 The Naira steeply appreciated against the US Dollar, with the spot exchange rate ($/N) decreasing by 22.45% ($/N279.38) to close at an average of $/N1,244.66 in April 2024 from $/N1,524.04 recorded in March 2024.

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]]> https://nairametrics.com/2024/05/30/fx-market-turnover-drops-27-68-to-9-12-billion-in-april-fmdq-reports/feed/ 0 490249 Tranex to seek shareholders’ approval to increase capital to N498.15 million   https://nairametrics.com/2024/05/29/tranex-to-seek-shareholders-approval-to-increase-capital-to-n498-15-million/ https://nairametrics.com/2024/05/29/tranex-to-seek-shareholders-approval-to-increase-capital-to-n498-15-million/#respond Wed, 29 May 2024 20:20:30 +0000 https://nairametrics.com/?p=490228 The Board of Trans-Nationwide Express (Tranex) Plc will, at the company’s 31st Annual General Meeting (AGM), request shareholders’ approval to increase the company’s share capital from N249.075 million to N498.15 million. This represents a 100% increase in capital. 

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]]> https://nairametrics.com/2024/05/29/tranex-to-seek-shareholders-approval-to-increase-capital-to-n498-15-million/feed/ 0 490228 Wema Bank shareholders approve N200 billion capital raise https://nairametrics.com/2024/05/29/wema-bank-shareholders-approve-n200-billion-capital-raise/ https://nairametrics.com/2024/05/29/wema-bank-shareholders-approve-n200-billion-capital-raise/#respond Wed, 29 May 2024 05:54:59 +0000 https://nairametrics.com/?p=490144 Shareholders of Wema Bank Plc, one of the nation’s oldest commercial banks, have approved the bank’s quest to raise N200 billion in capital at the group’s annual general meeting (AGM) held electronically today. 

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]]> https://nairametrics.com/2024/05/29/wema-bank-shareholders-approve-n200-billion-capital-raise/feed/ 0 490144 Total transactions in Nigerian equities market fall 36% in April to N346 billion – NGX  https://nairametrics.com/2024/05/28/total-transactions-in-nigerian-equity-market-fall-36-in-april-to-n346-billion-ngx/ https://nairametrics.com/2024/05/28/total-transactions-in-nigerian-equity-market-fall-36-in-april-to-n346-billion-ngx/#respond Tue, 28 May 2024 06:01:49 +0000 https://nairametrics.com/?p=490048 Nigerian Exchange Limited (NGX) says that the total domestic and foreign portfolio transactions in Nigeria’s equity market amounted to N346.23 billion in  April 2024. 

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]]> https://nairametrics.com/2024/05/28/total-transactions-in-nigerian-equity-market-fall-36-in-april-to-n346-billion-ngx/feed/ 0 490048 Senate committee clears Agama as SEC Nigeria DG  https://nairametrics.com/2024/05/27/senate-committee-clears-agama-as-sec-nigeria-dg/ https://nairametrics.com/2024/05/27/senate-committee-clears-agama-as-sec-nigeria-dg/#respond Mon, 27 May 2024 21:31:43 +0000 https://nairametrics.com/?p=490040 The Senate Committee on Capital Markets has cleared Dr. Emomotimi Agama as the Director-General of the Securities and Exchange Commission (SEC). 

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]]> https://nairametrics.com/2024/05/27/senate-committee-clears-agama-as-sec-nigeria-dg/feed/ 0 490040 Smart Products Plc appoints Olanrewaju Ogunlana as Managing Director/CEO https://nairametrics.com/2024/05/27/smart-products-plc-appoints-olanrewaju-ogunlana-as-managing-director-ceo/ https://nairametrics.com/2024/05/27/smart-products-plc-appoints-olanrewaju-ogunlana-as-managing-director-ceo/#respond Mon, 27 May 2024 17:04:20 +0000 https://nairametrics.com/?p=490022 The appointments are subject to ratification at the Company’s next Annual General Meeting scheduled to be held in June 2024.

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]]> https://nairametrics.com/2024/05/27/smart-products-plc-appoints-olanrewaju-ogunlana-as-managing-director-ceo/feed/ 0 490022 FBN Holdings Plc declares 40 kobo dividend per share for FY 2023   https://nairametrics.com/2024/05/27/fbn-holdings-plc-declares-40-kobo-dividend-per-share-for-fy-2023/ https://nairametrics.com/2024/05/27/fbn-holdings-plc-declares-40-kobo-dividend-per-share-for-fy-2023/#comments Mon, 27 May 2024 13:19:53 +0000 https://nairametrics.com/?p=490003 Shareholders of FBN Holdings Plc will receive a total dividend of N14.35 billion for the financial year ended December 2023, representing a total dividend of 40 kobo per share declared by the group.

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]]> https://nairametrics.com/2024/05/27/fbn-holdings-plc-declares-40-kobo-dividend-per-share-for-fy-2023/feed/ 4 490003 Embrace technology to solve unclaimed dividend issues in Nigerian capital market, SEC urges registrars https://nairametrics.com/2024/05/27/embrace-technology-to-solve-unclaimed-dividend-issues-in-nigerian-capital-market-sec-urges-registrars/ https://nairametrics.com/2024/05/27/embrace-technology-to-solve-unclaimed-dividend-issues-in-nigerian-capital-market-sec-urges-registrars/#comments Mon, 27 May 2024 10:52:29 +0000 https://nairametrics.com/?p=489996 The Securities and Exchange Commission (SEC) has called on companies’ registrars to embrace technology as one of the ways of ensuring that the issue of unclaimed dividends in the capital market becomes a thing of the past.

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]]> https://nairametrics.com/2024/05/27/embrace-technology-to-solve-unclaimed-dividend-issues-in-nigerian-capital-market-sec-urges-registrars/feed/ 1 489996 Nigeria’s forex policy is “suicidal”, Stockbrokers warn https://nairametrics.com/2024/05/25/cis-expresses-concern-over-impact-of-forex-reforms-on-quoted-companies/ https://nairametrics.com/2024/05/25/cis-expresses-concern-over-impact-of-forex-reforms-on-quoted-companies/#respond Sat, 25 May 2024 10:22:07 +0000 https://nairametrics.com/?p=489903 The CIS has expressed concerns about the impact of recent foreign exchange reforms on companies with significant foreign exchange components

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]]> https://nairametrics.com/2024/05/25/cis-expresses-concern-over-impact-of-forex-reforms-on-quoted-companies/feed/ 0 489903 NGX delists Arbico Plc’s shares from daily official list  https://nairametrics.com/2024/05/25/ngx-delists-arbico-plcs-shares-from-daily-official-list/ https://nairametrics.com/2024/05/25/ngx-delists-arbico-plcs-shares-from-daily-official-list/#respond Sat, 25 May 2024 09:45:12 +0000 https://nairametrics.com/?p=489898 The Nigerian Exchange Limited (NGX) has delisted the Shares of Arbico Plc from its Daily Official List of NGX.

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]]> https://nairametrics.com/2024/05/25/ngx-delists-arbico-plcs-shares-from-daily-official-list/feed/ 0 489898 Shareholders approve Champion Breweries’ 559 million shares allotment plan  https://nairametrics.com/2024/05/24/shareholders-approve-champion-breweries-559-million-shares-allotment-plan/ https://nairametrics.com/2024/05/24/shareholders-approve-champion-breweries-559-million-shares-allotment-plan/#respond Fri, 24 May 2024 15:16:33 +0000 https://nairametrics.com/?p=489870 These shares according to the company would be distributed to shareholders listed in the company's Register of Members as of the close of business on May 10, 2024.

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]]> https://nairametrics.com/2024/05/24/shareholders-approve-champion-breweries-559-million-shares-allotment-plan/feed/ 0 489870 Berger Paints appoints Alaba Fagun as group managing director  https://nairametrics.com/2024/05/24/berger-paints-appoints-alaba-fagun-as-group-managing-director/ https://nairametrics.com/2024/05/24/berger-paints-appoints-alaba-fagun-as-group-managing-director/#respond Fri, 24 May 2024 11:33:19 +0000 https://nairametrics.com/?p=489843 Before the new appointment, Fagun currently is the Managing Director of the company.

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]]> https://nairametrics.com/2024/05/24/berger-paints-appoints-alaba-fagun-as-group-managing-director/feed/ 0 489843 Benchmarking wages to dollar exchange rate would lead to job losses – Rewane cautions NLC https://nairametrics.com/2024/05/24/benchmarking-wages-to-dollar-exchange-rate-would-lead-to-job-losses-rewane-cautions-nlc/ https://nairametrics.com/2024/05/24/benchmarking-wages-to-dollar-exchange-rate-would-lead-to-job-losses-rewane-cautions-nlc/#respond Fri, 24 May 2024 09:47:02 +0000 https://nairametrics.com/?p=489836 Managing Director of Financial Derivatives Company (FDC), Mr. Bismarck Rewane has advised the Nigerian Labour Congress (NLC) against linking wage demands to the dollar exchange rate.

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]]> https://nairametrics.com/2024/05/24/benchmarking-wages-to-dollar-exchange-rate-would-lead-to-job-losses-rewane-cautions-nlc/feed/ 0 489836 United Bank for Africa Plc appoints Emmanuel Nnorom as non-executive director https://nairametrics.com/2024/05/24/united-bank-for-africa-plc-appoints-emmanuel-nnorom-as-non-executive-director/ https://nairametrics.com/2024/05/24/united-bank-for-africa-plc-appoints-emmanuel-nnorom-as-non-executive-director/#respond Fri, 24 May 2024 08:34:53 +0000 https://nairametrics.com/?p=489824 The Central Bank of Nigeria (CBN) granted approval for this appointment on May 13, 2024.

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]]> https://nairametrics.com/2024/05/24/united-bank-for-africa-plc-appoints-emmanuel-nnorom-as-non-executive-director/feed/ 0 489824