Company News Archives - Nairametrics https://nairametrics.com/category/companies/latest-nigerian-company-news/ Destination for Business news and analysis from Africa's largest economy Fri, 14 Jun 2024 11:17:46 +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 Company News Archives - Nairametrics https://nairametrics.com/category/companies/latest-nigerian-company-news/ 32 32 201037849 Multichoice Group has an account balance of N31.6 billion with Heritage Bank   https://nairametrics.com/2024/06/14/multichoice-group-has-an-account-balance-of-n31-6-billion-with-heritage-bank/ https://nairametrics.com/2024/06/14/multichoice-group-has-an-account-balance-of-n31-6-billion-with-heritage-bank/#respond Fri, 14 Jun 2024 09:17:10 +0000 https://nairametrics.com/?p=491246 Multichoice Group, owners of DSTV, had an account balance of N31.6 billion with Heritage Bank, before the bank’s liquidation.  

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]]> https://nairametrics.com/2024/06/14/multichoice-group-has-an-account-balance-of-n31-6-billion-with-heritage-bank/feed/ 0 491246 Presco welcomes new management as former Olam Vice President, Reji George takes over as CEO https://nairametrics.com/2024/06/12/presco-welcomes-new-management-as-former-olam-vice-president-reji-george-takes-over-as-ceo/ https://nairametrics.com/2024/06/12/presco-welcomes-new-management-as-former-olam-vice-president-reji-george-takes-over-as-ceo/#respond Wed, 12 Jun 2024 12:40:48 +0000 https://nairametrics.com/?p=491132 Presco Plc has announced the appointment of Mr. Reji George as the new Managing Director of the company, effective June 7, 2024.

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]]> https://nairametrics.com/2024/06/12/presco-welcomes-new-management-as-former-olam-vice-president-reji-george-takes-over-as-ceo/feed/ 0 491132 Tolaram to acquire majority shares in Guinness Nigeria as Diageo exits  https://nairametrics.com/2024/06/11/tolaram-to-acquire-majority-shares-in-guinness-nigeria-as-diageo-exits/ https://nairametrics.com/2024/06/11/tolaram-to-acquire-majority-shares-in-guinness-nigeria-as-diageo-exits/#respond Tue, 11 Jun 2024 10:39:36 +0000 https://nairametrics.com/?p=491059 In a landmark deal set to reshape Nigeria's beverage market, Tolaram has agreed to acquire Diageo's 58.02% shareholding in Guinness Nigeria Plc. Guinness made this announcement via a press release on the NGX. 

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]]> https://nairametrics.com/2024/06/11/tolaram-to-acquire-majority-shares-in-guinness-nigeria-as-diageo-exits/feed/ 0 491059 Unity Bank projects N5.2B profit in Q3, 2024 https://nairametrics.com/2024/06/11/unity-bank-projects-n5-2b-profit-in-q3-2024/ https://nairametrics.com/2024/06/11/unity-bank-projects-n5-2b-profit-in-q3-2024/#respond Tue, 11 Jun 2024 09:27:00 +0000 https://nairametrics.com/?p=491049 Unity Bank Plc has projected a Profit After Tax of N5.2 billion in Q3, 2024, according to its latest earnings forecast released to the Nigerian Exchange Group.

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]]> https://nairametrics.com/2024/06/11/unity-bank-projects-n5-2b-profit-in-q3-2024/feed/ 0 491049 Access Bank enters Tanzanian market, completes acquisition of African Banking Corporation of Tanzania  https://nairametrics.com/2024/06/11/access-bank-enters-tanzanian-market-completes-acquisition-of-african-banking-corporation-of-tanzania/ https://nairametrics.com/2024/06/11/access-bank-enters-tanzanian-market-completes-acquisition-of-african-banking-corporation-of-tanzania/#respond Tue, 11 Jun 2024 07:33:02 +0000 https://nairametrics.com/?p=491045 Access Bank Plc, a subsidiary of Access Holdings Plc has completed the acquisition of African Banking Corporation of Tanzania (ABCT).  

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]]> https://nairametrics.com/2024/06/11/access-bank-enters-tanzanian-market-completes-acquisition-of-african-banking-corporation-of-tanzania/feed/ 0 491045 Geregu Power forecasts 148% year-on-year profit growth for Q3 2024 https://nairametrics.com/2024/06/10/geregu-power-forecasts-148-year-on-year-profit-growth-for-q3-2024/ https://nairametrics.com/2024/06/10/geregu-power-forecasts-148-year-on-year-profit-growth-for-q3-2024/#respond Mon, 10 Jun 2024 14:32:37 +0000 https://nairametrics.com/?p=491005 Geregu Power Plc has forecasted a profit after tax of N9.9 billion for Q3 2024, representing a 148% year-on-year increase from the N3.98 billion net income posted in Q3 2023.

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]]> https://nairametrics.com/2024/06/10/geregu-power-forecasts-148-year-on-year-profit-growth-for-q3-2024/feed/ 0 491005 Ecobank to raise $600 million debt in the next one year  https://nairametrics.com/2024/06/10/ecobank-to-raise-600-million-debt-in-the-next-one-year/ https://nairametrics.com/2024/06/10/ecobank-to-raise-600-million-debt-in-the-next-one-year/#respond Mon, 10 Jun 2024 09:15:59 +0000 https://nairametrics.com/?p=490965 Ecobank Transnational Incorporated (ETI) will raise $600 million through senior secured debts and tier-2 debts over the next year.  

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]]> https://nairametrics.com/2024/06/10/ecobank-to-raise-600-million-debt-in-the-next-one-year/feed/ 0 490965 International Energy Insurance Plc announces N1 billion mandatory takeover by Norrenberger Advisory Partners https://nairametrics.com/2024/06/08/international-energy-insurance-plc-announces-n1-billion-mandatory-takeover-by-norrenberger-advisory-partners/ https://nairametrics.com/2024/06/08/international-energy-insurance-plc-announces-n1-billion-mandatory-takeover-by-norrenberger-advisory-partners/#respond Sat, 08 Jun 2024 09:33:03 +0000 https://nairametrics.com/?p=490858 Insurance company International Energy Insurance PLC (IEI) has announced it has received a mandatory takeover bid from Norrenberger Advisory Partners Limited (NAPL).

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]]> https://nairametrics.com/2024/06/08/international-energy-insurance-plc-announces-n1-billion-mandatory-takeover-by-norrenberger-advisory-partners/feed/ 0 490858 Thomas Etuh takes over at Notore as company undergoes management changes https://nairametrics.com/2024/06/07/thomas-etuh-takes-over-at-notore-as-company-undergoes-management-changes/ https://nairametrics.com/2024/06/07/thomas-etuh-takes-over-at-notore-as-company-undergoes-management-changes/#respond Fri, 07 Jun 2024 12:30:23 +0000 https://nairametrics.com/?p=490823 Notore Chemical Industries Plc has undergone significant management changes, evidenced by the resignation of seven non-executive directors and the Group Deputy Managing Director, as of May 31, 2024.

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]]> https://nairametrics.com/2024/06/07/thomas-etuh-takes-over-at-notore-as-company-undergoes-management-changes/feed/ 0 490823 Fidelity Bank Plc undertakes a N29.6bn Rights Issue and N97.5bn public offer https://nairametrics.com/2024/06/05/fidelity-bank-plc-undertakes-a-n29-6bn-rights-issue-and-n97-5bn-public-offer/ https://nairametrics.com/2024/06/05/fidelity-bank-plc-undertakes-a-n29-6bn-rights-issue-and-n97-5bn-public-offer/#respond Wed, 05 Jun 2024 20:46:09 +0000 https://nairametrics.com/?p=490700 Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to N127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer”).

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]]> https://nairametrics.com/2024/06/05/fidelity-bank-plc-undertakes-a-n29-6bn-rights-issue-and-n97-5bn-public-offer/feed/ 0 490700 VFD Group to sell off 30% of its stake in Abbey Mortgage Bank   https://nairametrics.com/2024/06/05/vfd-group-to-sell-off-30-of-its-stake-in-abbey-mortgage-bank/ https://nairametrics.com/2024/06/05/vfd-group-to-sell-off-30-of-its-stake-in-abbey-mortgage-bank/#respond Wed, 05 Jun 2024 05:28:29 +0000 https://nairametrics.com/?p=490620 The board of VFD Group has agreed to sell off 30% of its holdings in Abbey Mortgage Bank. This resolution was made during the group’s Board of Directors meeting on May 30, 2024.  

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]]> https://nairametrics.com/2024/06/05/vfd-group-to-sell-off-30-of-its-stake-in-abbey-mortgage-bank/feed/ 0 490620 Presco Nigeria to acquire Ghanaian oil palm company for $125 million https://nairametrics.com/2024/06/04/presco-nigeria-to-acquire-ghanaian-oil-palm-company-for-125-million/ https://nairametrics.com/2024/06/04/presco-nigeria-to-acquire-ghanaian-oil-palm-company-for-125-million/#respond Tue, 04 Jun 2024 13:04:05 +0000 https://nairametrics.com/?p=490590 Nigeria’s largest oil palm company, Presco Plc is presently in talks to acquire a 100% equity stake in the Ghanaian Oil Palm Development Company (GOPDC).

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]]> https://nairametrics.com/2024/06/04/presco-nigeria-to-acquire-ghanaian-oil-palm-company-for-125-million/feed/ 0 490590 Seplat to reward its Chief Officers with shares worth N10.6 billion as part of performance bonus for 2024 https://nairametrics.com/2024/06/04/seplat-to-reward-its-chief-officers-with-shares-worth-n10-6-billion-as-part-of-performance-bonus-for-2024/ https://nairametrics.com/2024/06/04/seplat-to-reward-its-chief-officers-with-shares-worth-n10-6-billion-as-part-of-performance-bonus-for-2024/#respond Tue, 04 Jun 2024 08:55:36 +0000 https://nairametrics.com/?p=490569 Seplat Energy Plc as part of its Long-Term Incentive Plan (LTIP) will reward its Chief Executive Officer (CEO), Chief Operations Officer (COO), and Chief Financial Officer (CFO) with a total of 3,139,250 shares as part of their performance bonus for 2024.

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]]> https://nairametrics.com/2024/06/04/seplat-to-reward-its-chief-officers-with-shares-worth-n10-6-billion-as-part-of-performance-bonus-for-2024/feed/ 0 490569 Flour Mills of Nigeria incurs N1.84 trillion expense on raw materials, posts N3.54 billion profit in FY 2023/2024   https://nairametrics.com/2024/06/03/flour-mills-of-nigeria-incurs-n1-84-trillion-expense-on-raw-materials-posts-n3-54-billion-profit-in-fy-2023-2024/ https://nairametrics.com/2024/06/03/flour-mills-of-nigeria-incurs-n1-84-trillion-expense-on-raw-materials-posts-n3-54-billion-profit-in-fy-2023-2024/#comments Mon, 03 Jun 2024 13:49:47 +0000 https://nairametrics.com/?p=490534 Flour Mills of Nigeria has published its audited financial statement for the fiscal year ending March 31, 2024, reporting a profit after tax of N3.54 billion.  

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]]> https://nairametrics.com/2024/06/03/flour-mills-of-nigeria-incurs-n1-84-trillion-expense-on-raw-materials-posts-n3-54-billion-profit-in-fy-2023-2024/feed/ 1 490534 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 Aig-Imoukhuede’s Family Office, Tengen Holdings, purchases N1.01 billion worth of Access Holdings shares   https://nairametrics.com/2024/05/31/aig-imoukhuede-company-tengen-holdings-purchases-n1-01-billion-worth-of-access-holdings-shares/ https://nairametrics.com/2024/05/31/aig-imoukhuede-company-tengen-holdings-purchases-n1-01-billion-worth-of-access-holdings-shares/#respond Fri, 31 May 2024 19:31:15 +0000 https://nairametrics.com/?p=490395 Since May 28, 2024, the Mauritian-incorporated company, Tengen Holdings (Mauritius) Limited, has acquired approximately 59.403 million shares of Access Holdings, valued at roughly N1.012 billion.  

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]]> https://nairametrics.com/2024/05/31/aig-imoukhuede-company-tengen-holdings-purchases-n1-01-billion-worth-of-access-holdings-shares/feed/ 0 490395  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 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 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