Author: Olu Anisere

United Capital to Pay Shareholders 50 Kobo Final Dividend Investment banking firm United Capital Plc (Ticker: UCAP) has announced its decision to pay 50 kobo as a final dividend to its shareholders, according to its regulatory filing. The investment banking firm stated that a final dividend of N0.50 kobo will be subjected to appropriate withholding tax and approval. The amount will be paid to shareholders whose names appear in the Register of Members as of the close of business on March 14, 2025. The company said dividends will be paid on April 4 electronically to shareholders whose names appear on…

AIICO Insurance Targets N7.4bn Profit, Higher Margin in H1 AIICO Insurance Plc has forecasted about N7.4 billion profit for the first half of 2025, according to its latest released earnings forecast report filled on Nigerian Exchange. The insurance company expect gross written premium for Q2 2025 to settle at N114.3 billion on expectation of improved business activities. Insurance revenue for the period is estimated to settle at N67.2 billion, saying its 2025 projections is made based on seasonal trends of premium receipt with a consideration of actual premium receipt for the month of January 2025 while 2024 is actual premium…

Oil Prices Fall as Markets Ignore US Brokered Ceasefire Oil prices fall as the global commodities markets ignore Ukraine agreeing to US brokered ceasefire deal. The commodities complex traded positive yesterday but bumped during early trading hours on Wednesday amidst weak demand and supply concerns. Recession fears in US, and shifting monetary policy expectations reversed earlier optimism, initially fuelled by prospects of a US Federal Reserve rate cut, with fresh data altering the market outlook. Brent crude decreased by 0.07%, trading at $69.57 per barrel, down from $69.62 at the close of the previous session. The US benchmark West Texas…

Investment in Energy Development will Boost Economy—Otti Gov. Alex Otti of Abia has charged the Board and Management of the South East Development Commission (SEDC) to invest in the development of affordable and renewable energy sources to improve the region’s economy. The call is contained in a statement issued by his Chief Press Secretary, Mr Ukoha Njoku, on Tuesday in Umuahia. He quoted the governor as making the call when he received a delegation of the commission’s board at his home in Umuehim, Nvosi in Isiala Ngwa South Local Government Area of the state. “These are the kind of investments…

Reps Secure 7 Major Oil Firms’ Commitment to Settle $37.4m Debt The House of Representatives has secured the commitment of seven major oil companies to pay the $37,435,094.52 (approximately ₦58 billion) owed the country before August. This is contained in a statement issued by the Spokesman of the House of Representatives, Rep. Akin Rotimi Jr., in Abuja on Monday. Rotimi listed the affected companies as: Belema Oil, Panocean Oil Nigeria Ltd., Newcross Exploration and Production Ltd., Dubri Oil Company Ltd., Chorus Energy, Amni International and Network Exploration. He said that the feat was achieved through the ongoing investigation by the…

China Inaugurates 2025 Economic Roadmap, Targets 5% GDP Growth The Government of China has inaugurated its 2025 economic Roadmap centred on bolstering five per cent GDP growth, innovation and investment. The roadmap is centred on boosting consumption, innovation and technology, fiscal and monetary policy implementation, as well as market reform. China’s Premier Li Qiang disclosed this during the virtual presentation of the Chinese government work report against the backdrop of the third session of the 14th National People’s Congress (NPC) in Beijing, China. He stated that the focus of the roadmap was fiscal expansion, technological innovation, and foreign investment, outlining…

Nigeria Records N3.43trn as Trade Surplus in Q4 Nigeria recorded a trade surplus of N3.43 trillion in the fourth quarter of (Q4) 2024, according to the latest foreign trade report from the National Bureau of Statistics (NBS). Total merchandise trade stood at N36.61 trillion, reflecting a 2.2% increase from Q3 2024. However, the figure showed trades spiked by 68.32% when compared to Q4 2023. Total exports settled at N20.01 trillion, accounting for 54.68% of total trade. This represents a 2.55% decline from the N20.54 trillion recorded in Q3 2024, but a 57.67% increase compared to N12.69 trillion in Q4 2023.…

OPEC+ Plan, Tariffs Threats Weigh on Oil Prices Oil prices continue to face multiple pressures coming from both demand and supply sides with the U.S President Donald Trump influencing energy costs directions. Brent price hovered around $70 per barrel on Monday while US West Texas Intermediate settle at $67 per barrel at the same time amidst negative outlook on supply and demand. After posting weekly loss, the crude oil market pressures extended with concerns over U.S. import tariffs and their impact on global economic growth and fuel demand weighed on market sentiment. Tariffs imposed and delayed by President Trump on…

FCMB Group Plc. lost 14.2% of its market value at the Nigerian Exchange, NGX, as investors’ exited positions in the banking stock amidst latest earnings forecast.

Tunisian Bank Profitability Faces Pressure from New Lending Rules –Fitch Tunisian bank profitability faces pressure from new lending regulations, which allow borrowers interest rate reductions on certain fixed-rate loans and require banks to issue prescribed amounts of interest-free loans, Fitch Ratings says. According to Fitch, the 40% corporate tax rate on bank profits earned from 1 January 2024, up from 35% and caps on certain fees and commissions will also weigh on profitability, but we do not expect bank ratings to be affected. One new regulation, introduced last year, allows borrowers whose fixed-rate interest payments from January 2022 to September…