Author: Marketforces Africa

Cadbury Nigeria Increases Share Capital to N1.14bn The Board of Directors of Cadbury Nigeria Plc has decided to increase the company’s share capital from N939.101 million to N1.14 billion. Mr Fola Akande, the Company’s Secretary, said this in a notification to Nigerian Exchange Ltd (NGX) in Lagos. Akande said the decision was a resolution of an Extraordinary General Meeting (EGM) on Feb. 8. He said that this would be done by the creation of 402,082,657 ordinary shares of 50 kobo each. Akande explained that such shares would rank pari passu in all respects with the existing ordinary shares in the…

Contract Variation: Federal Capital Territory (FCT) Minister, Nyesom Wike, has threatened to blacklist Setraco Nigeria

The naira exchange rate has breached N1500 and declined to N1503 at the official market today

Equities market capitalisation of the Nigerian Exchange (NGX) jumped to N56 trillion on Wednesday as investors

Fidelity Bank Plc,  has announced its Board of Directors’ decision to extend the employment contract of its GMD/CEO

Amidst public requests for constitutional review, the Senate has constituted a committee for 1999 Constitution

Africa Finance Corp. Names Emeka Emuwa Board Chairman Africa Finance Corporation (AFC) the continent’s leading instrumental infrastructure solutions provider, today announced the appointment of Mr. Emeka Emuwa as Chairman of its Board of Directors. Mr. Emuwa brings a wealth of experience spread over three decades leading and transforming banking institutions across Africa. After completing a sterling 25-year career with Citibank where he left as the Country Officer and Managing Director of Citibank in Nigeria, he went on to serve as the Group Managing Director and Chief Executive Officer of Union Bank of Nigeria. In this role, he led the bank’s…

The cryptocurrency market continues to inch higher as the price of the largest digital asset is getting close to $52,000

Uber Announces $7bn Shares Buyback after First Profit Uber Technologies said on Wednesday it will buy back up to $7 billion worth of company shares after a strong recovery in ride-share and healthy demand at its food delivery business. This is coming after the company returned to profitability. Uber’s fourth quarter revenue grew 15 per cent year-on-year to $9.9 billion. For the full year, revenue was up 17 per cent at $37.3 billion. Reacting to the development, the company’s share price rose more than 5% to $72.50 in trading before the bell. “Today’s authorization of our first-ever share repurchase program…

MSCI Inc. has revealed a plan to delete Nigerian securities from frontier markets indexes…