Stanbic IBTC Bank Nigeria PMI®: Record increase in selling prices
Stanbic IBTC Bank Nigeria PMI®: Record increase in selling prices The impact of currency weakness on the Nigerian private sector was evident again in March. Purchase costs rose at the sharpest rate on record, meaning companies increased their own selling prices at an unprecedented pace. The rate of expansion in business activity ticked higher, but steep price rises acted to limit demand and the pace of new order growth eased to a four-month low. Meanwhile, employment decreased for the second month running. The headline figure derived from the …
Eko Disco MD Sanda Celebrates Two Years Of Outstanding Achievements, Says “When They Go Low, We Go High”
Eko Disco MD Sanda Celebrates Two Years Of Outstanding Achievements, Says “When Go Low, We Go High” The Managing Director of Eko Electricity Distribution Company (EKEDC) Plc, Dr, Tinuade Sanda, has reeled out her outstanding achievements as she clocks two years in her position on March 30, 2024. Put between conflicting interests of Shareholders, THEWILL recalls the recent controversy surrounding Sanda’s position as MD at Eko Disco. But Sanda, who remains defiant in her position as she looks forward to March 30th to mark her two years as the MD…
Access Holdings Announces US$1.5 Billion Capital Raising Programme
Access Holdings Announces US$1.5 Billion Capital Raising Programme ... Targets N365 billion by way of a Rights Issue as subset of Programme Lagos, Nigeria – March 28, 2024: Access Holdings Plc, one of Africa’s leading financial groups, has unveiled plans to establish a Capital Raising Programme of up to US$1,500,000,000.00 (One Billion, Five Hundred Million United States Dollars) or its equivalent (‘the Programme’). The Programme aims to enhance the Group's financial strength through the issuance of various financial instruments such…
Access Holdings Reports Strong FY2023 Financial Performance, Grows PBT by 335%, Earnings to N2.59 Trillion
Access Holdings Reports Strong FY2023 Financial Performance, Grows PBT by 335%, Earnings to N2.59 Trillion Access Holdings Plc (“The Group”) has announced its audited Consolidated and Separate Financial Statements for the year ended December 31, 2023. In the year under review, the Group recorded a robust growth in its Profits Before Tax, posting a healthy N729 billion, representing 335% year-on-year (YoY) increase from 2022. Access Holdings’ Gross Earnings also surged by 87% YoY to N2.59 trillion, up from N1.38 trillion in 2022. This rema…
Tinubu @72: Photos As Lagos Lawmakers Honour Nigeria's President
Tinubu @72: Photos As Lagos Lawmakers Honour Nigeria's President Lawmakers at the Lagos State House of Assembly took turns to speak glowingly of President Bola Ahmed Tinubu on Thursday as he marks his 72nd birthday on Friday. The lawmakers commended the President for deciding on no-celebration of his birthday in consideration of the mood of the nation as, according to them, this was the mark of true leadership. However, the lawmakers said it was important to celebrate the President's achievements while he was governor of Lagos and h…
Palliatives: Dangote donates 80,000 bags of rice to Lagos residents
Palliatives: Dangote donates 80,000 bags of rice to Lagos residents … Sanwo-Olu says Dangote prioritize Nigerians’ welfare above profit The Aliko Dangote Foundation, (ADF) has flagged off the distribution of 80,000 10kg bags of rice to the vulnerable in Lagos State. President of Dangote Group and Chairman of the foundation, Aliko Dangote, noted that the gesture is part of the over one million 10kg bags of rice that would be distributed to reach one million vulnerable people in the 774 local government areas of the country. Speaking at the…
Access Holdings Profit Surges 300% to N612.49bn in Wigwe’s Final Act
Access Holdings Profit Surges 300% to N612.49bn in Wigwe’s Final Act Access Holding’s a tier-one Nigerian lender reported a massive 300% surge in after-tax profit to N612.49 billion in its Full Year 2023 results, the last period for which late CEO, Herbert Wigwe was at the helms. Access saw growth at both net interest incomes of N555.8 billion and net fee income of N207.7 billion revenue lines while Fair value gains on non-hedging derivatives, equity investments and Fixed income securities brought in a further N512.3 billion. Earnings Per S…
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