By Ayomide Otitoju Nestlé Nigeria Plc has made an early repayment of $20 million in inter-group foreign exchange debt, underscoring its financial discipline amid ongoing economic challenges. In a statement filed with the Nigerian Exchange on Thursday, the company announced that the repayment was made ahead of schedule as it continues to navigate the impacts…
By Ayomide Otitoju The Federal Government has signed a strategic partnership agreement with Saudi Arabia’s Halal Products Development Company (HPDC) to position Nigeria as a major player in the $7.7 trillion global halal market. At the signing ceremony in Saudi Arabia on Wednesday, Vice President Kashim Shettima described the agreement as a “game-changer” that aligns…
By Ayomide Otitoju Lafarge Africa Plc has reported a profit after tax of N100.1 billion for the 2024 financial year, marking a 96% increase from N51.1 billion recorded in 2023. The cement manufacturing giant also posted a 72% revenue surge to N696.8 billion from N405.5 billion in the previous year. According to its audited financial…
By Ayomiide Otitoju MTN Nigeria has reported a N400.44 billion loss after tax for the 2024 financial year, citing naira devaluation and foreign exchange losses as key factors affecting its earnings. The loss, disclosed in its audited financial statements released Thursday, marks a 192% increase from the N137.02 billion loss recorded in 2023. With over…
By Ayomide Otitoju In a significant boost to education in Abia State, Stanbic IBTC has completed a comprehensive renovation of Ibeku High School in Umuahia, furthering its nationwide Adopt-A-School initiative. The transformation, which has significantly improved learning conditions for 720 students and 52 teachers, underscores the financial institution’s commitment to modernizing educational facilities across Nigeria….
By Ayomide Otitoju MTN Nigeria reduced spending on core infrastructure projects in 2024 despite a 168.3% surge in capital expenditure (Capex) to N1.53 trillion, largely driven by tower lease renegotiations that increased financial obligations. Excluding lease components, the telecom giant’s investment in critical infrastructure such as fibre networks, base stations, and technology upgrades fell to…
By Ayomide Otitoju The Institute of Chartered Accountants of Nigeria (ICAN) recently paid a courtesy visit to Stallion Plaza, the headquarters of Union Bank of Nigeria, in a move aimed at fostering a stronger partnership between the two institutions. During the visit, representatives from ICAN and Union Bank engaged in discussions on potential areas of…
By Ayomide Otitoju MultiChoice, the parent company of DStv and GOtv, has announced an upward adjustment in subscription prices for its packages, effective March 1, 2025. In a statement titled “Price Adjustments for DStv and GOtv Packages,” the company attributed the increase to rising operational costs, citing naira depreciation and high inflation as key factors….
By Ayomide Otitoju Telecommunications company Globacom has launched a new promotional offer, providing customers with a 15% bonus on every E-top up recharge of N200 or more. The initiative, which took effect on February 13, is aimed at enhancing the mobile experience of millions of Nigerians using the Glo E-top up platform. The bonus can…
