Author: Ogochukwu Ndubuisi

May & Baker Declares 40k Final Dividend for 2024 May & Baker Nigeria Plc has declared a dividend of 40k for the year ended Dec. 31, 2024. The company disclosed this in a corporate disclosure through the Nigerian Exchange Ltd. on Monday. “The audited financial statement for the year ended 31st December 2024 was approved at the Board meeting held on March 27, 2025 and it will be laid at the Annual General Meeting. “A dividend of 40 kobo per share, subject to shareholders’ approval and appropriate withholding tax, will be paid to the shareholders whose names appear in the…

NGX Rises by N228bn Gain as INTBREW, LENGENDINT Rally The Nigerian Exchange (NGX) market capitalisation grew to about N66.7 trillion on Monday as equities investors gained more than N228 billion on latest round of rally. The stock market opened the week on a positive note. Year to date return increased as key performance indicators surged by 34 basis points. The uptrend was fuelled by renewed buying interest in averagely priced key stocks across major market sectors. Equities investors are reacting strongly to first quarter corporate earnings release. The market index or All-Share Index added 363.13 basis to close at 106,116.18…

Zenith, FCMB, Fidelity Bank Set to Pay Dividend Zenith Bank, FCMB, Fidelity Bank Plc are scheduled to pay their dividends this week. These top lenders market value was lifted following bargain hunting that lifted their individual market value higher. According to MarketForces Africa’s dividend calendar, Zenith will be paying N4 per share on April 29. FCMB Group will pay shareholders 55 kobo the same day. Fidelity Bank shareholders are expected to receive N1.25 per share on April 29.  #Zenith, FCMB, Fidelity Bank Set to Pay Dividend#  GTCO, NB Plc Drive Intraday Gain in Equities Market

Money market rates dropped as liquidity levels in the financial system closed strong despite huge outflows for OMO bills

MTN Suffers Cyber Attack, Customers Data Exposed MTN Group has announced that the telecom suffered a cybersecurity breach that exposed personal data of some customers in certain markets, but its core networks, billing systems, and financial platforms remain secure. An unidentified third party claimed to have accessed parts of MTN’s systems, the company said in a statement posted on its website. The company has nearly 300 million subscribers across 20 countries and an annual revenue surpassing $11 billion. While the scope of the breach is still under investigation, MTN reassured stakeholders that there is no indication that customer accounts or…

Nigerian Exchange Expands as Equities Investors Gain N966bn The Nigerian Exchange (NGX) expanded as equities investors gained about N966 billion amidst first quarter of 2025 earnings season. The equities market maintained its upward trajectory, buoyed by renewed investor confidence, robust earnings releases for Q1 2025, and continued dividend declarations. Strong appetite for financial and consumer goods stocks drove key performance indicators upward in the holiday shortened week. The All-Share Index (ASI) appreciated by 1.46% on a week-on-week basis, closing the week at 105,752.61 points. Stockbrokers said this positive performance was underpinned by solid market internals, marked by a significant uptick…

Kano Govt. Recovers N28m in Salary Anomaly The Kano State Government has uncovered an anomaly in the March 2025 salary payroll, revealing that 247 individuals who have either retired or passed away were still receiving salaries. The fraudulent payments amounted to ₦27,824,395.40. This is contained in a statement issued by the Information Officer, Secretary to the State Government, Musa Tanko in Kano on Saturday. He said that the irregularity was discovered during a validation exercise conducted by the Pay Parade Committee. Tanko said that the amount was promptly recovered and returned to the Local Government Treasury. He added, “The government…

FG to Inaugurate NAPM for Food Price Stability The Federal Government says it will inaugurate the National Agribusiness Policy Mechanism (NAPM) to strengthen agricultural productivity and stabilise food prices. Vice-President Kashim Shettima disclosed this on Friday during a meeting of the Presidential Food Systems Coordinating Unit (PFSCU) Steering Committee at the Presidential Villa,Shettima said the initiative will align with agricultural efforts across all government tiers through real-time data analytics. “The Green Imperative Project (GIP) is an idea whose time has come. It has been in the incubation period for several years, and now it is coming to fruition; we have…

IMF Wants Nigeria to Broaden Tax Revenue Base The International Monetary Fund (IMF) has urged Nigeria to broaden its tax revenue base in order to strengthen its fiscal policy. IMF Managing Director, Kristalina Georgieva, stated this at a news conference in Washington D.C. on the sidelines of the 2025 IMF Spring Meeting. In achieving this, Georgieva said Nigeria, like other African nations should deploy technology and reduce tax evasion. According to her, the falling oil prices has created additional pressure on the budgets of oil producers like Nigeria, On monetary policy, the IMF boss tasked African countries to tackle corruption,…

NGX lists Nigeria’s First Telecom Company, Legend Internet Plc The Nigerian Exchange Ltd. (NGX) on Thursday listed Legend Internet Plc, a Nigerian telecommunications company. Legend’s N2 billion ordinary shares, with a par value of 50 kobo each, were listed at N5.64 per share. The Chairman of NGX Group, Dr Umaru Kwairanga, who welcomed Legend’s board and management, commended the company for its successful listing on the Exchange. He highlighted that listing signifies an elevated commitment to corporate governance and provides opportunities to leverage the Exchange’s diverse asset classes for capital raising. He stated, “As we celebrate this listing, with many…