By Ayomide Otitoju Airtel Africa has reported a strong financial recovery for the full year ending March 31, 2025, posting a pre-tax profit of $661 million, a sharp rebound from the $63 million loss recorded in the 2024 fiscal year. The telecoms and mobile money operator also reported a profit after tax of $328 million,…
By Ayomide Otitoju MTN Nigeria Communications Plc has announced a ₦3.5 billion investment in Corporate Social Investment (CSI) initiatives for the 2024 fiscal year, bringing its total CSI spending since inception to ₦31.9 billion. The company disclosed the development during the presentation of its 2024 Sustainability Report at the Nigerian Exchange Limited (NGX) in Lagos…
By Ayomide Otitoju President and Chief Executive Officer of Dangote Group, Aliko Dangote, on Thursday paid a courtesy visit to the newly appointed Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr. Bashir Bayo Ojulari, at the NNPC Towers in Abuja. The strategic meeting marked the first official engagement between…
By Ayomide Otitoju Fidelity Bank Plc has posted a remarkable financial performance for the first quarter of 2025, reporting a Profit Before Tax (PBT) of N105.8 billion, a significant 167.8% increase from N39.5 billion in Q1 2024. The bank’s unaudited financial results, released on the Nigerian Exchange (NGX) on April 30, 2025, also revealed a…
By Ayomide Otitoju Emirates Group has announced a historic performance in its 2024–25 annual report, achieving record-breaking figures across profit, revenue, EBITDA, and cash reserves, solidifying its status as the most profitable aviation group globally. For the financial year ending March 31, 2025, the Group posted a record profit before tax of $6.2 billion—an 18%…
By Ayomide Otitoju A Federal High Court in Abuja has dismissed a lawsuit filed by MultiChoice Nigeria against the Federal Competition and Consumer Protection Commission (FCCPC) over its intervention in the pay-TV provider’s March 2025 subscription rate hike. Presiding Judge, Justice James Omotoso, ruled that the court lacked jurisdiction as a similar matter was already…
By Ayomide Otitoju Ecobank Transnational Incorporated (ETI) posted a 17% year-on-year increase in profit after tax to $122.5 million for Q1 2025, but financial analysts warn that rising liabilities and low share liquidity could pose future challenges. Revenue grew 4% to $516.3 million, but the bank’s liabilities rose significantly to $26.9 billion, up from $26.1…
By Ayomide Otitoju The recent arrest of social media activist Martins Vincent Otse, popularly known as VeryDarkMan (VDM), has sparked a wave of misinformation on social media, with Guaranty Trust Bank (GTBank) becoming an unwarranted target of public criticism. VDM had visited a GTBank branch in Abuja earlier in the day to report suspected unauthorized…
By Ayomide Otitoju Sterling Financial Holdings has notified shareholders and the Nigerian Exchange Group (NGX) of a delay in the release of its audited financial statements for the fiscal year ended December 31, 2024, as well as its unaudited results for the first quarter of 2025. The disclosure, signed by Company Secretary Mr. Olayinka Oni,…
