Author: Ogochukwu Ndubuisi

Amidst uncertainties surrounding the debt ceiling, the International Monetary Fund said U.S. debt default

Seplat Energy Pays Shareholder Special Dividend Mr Basil Omiyi, the Chairman of Board, Seplat Energy, said the company’s total revenue rose by 29.8 per cent to $951.8 million as at financial year ended Dec. 31, 2022. Omoyi said this during his address at the company’s 10th Annual General Meeting (AGM) held virtually on Wednesday with shareholders, regulators, company directors, and the media. He also said that the profit before tax rose by 15.3 per cent to $204.4 million during the period under review. The Seplat Energy Board recommended a special dividend of U.S. five cents per share to be paid…

Fixed income securities traders at TrustBanc Capital Limited said it was another quiet trading session

The equities segment of the Nigerian Exchange (NGX) traded marginally higher following bargain hunting

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said that export proceeds

Following its openly criticised cryptocurrency ban in Africa’s’ largest economy by size of gross domestic product..

Like most things, it begins as a trickle before the floodgates open and it becomes a flood. But there are certain things that you do not rush. Investments (and I do not mean trading …

Geregu Power Delivers Impressive Return on Investment Top performing stocks give investors capital gain and the opportunity to share the company’s profit. And, Geregu Power Plc has done both as the stage has been cleared for the company to create wealth for shareholders again in 2023. The power company delivered a 95% return on capital investment from the beginning of the year to date. What is the market holding next? Geregu Power is investing to boost capacity and it actually brought a strategic investor to its board – Fund for Export Development in Africa (FEDA). Management told the Nigerian Exchange…

Zenith Bank Valuation Rises after Record Breaking Dividend Payment Zenith Bank Plc’s share price gained about 7% after the group raised the bar with its skyrocketed dividend payment to shareholders following approval at its annual general meeting. At its annual general meeting, shareholders approved the proposed final dividend payment of N2.90 per share, bringing the total dividend for the financial year 2022 to N3.20 per share. With over 31.396 billion shares outstanding, Zenith Bank doled out a total sum of N100.47 billion as dividend payment for the year. The bank’s share price moved positively, thus pushing the lender’s valuation back…

Fitch Downgrades Egypt to ‘B’ with Negative Outlook Fitch Ratings has downgraded Egypt’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘B’ from ‘B+’ with outlook accorded as negative amidst uncertainties in the local economy. In the rating note released, Fitch said the downgrade of Egypt’s IDRs and the negative outlook reflect the country’s macroeconomic condition with pressure from external financing. In Fitch’s view, external financing risk has increased given high external financing requirements, constrained external financing conditions and the sensitivity of Egypt’s broader financing plan to investor sentiment. The rating agency noted that all this comes against a background…