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The Monetary Policy Committee is meeting this week for the first time in the President Bola Tinubu era and since the suspension of Godwin Emefiele as governor of the Central Bank of Nigeria. The meeting comes days after Nigerians saw the second petrol price hike since the removal of subsidy amid criticism of the June |
Unilever Nigeria to create new company for tea business The Punch Published 15 May 2021 Unilever Nigeria Plc announced on Friday that its Board of Directors had approved the steps required to implement the separation of its tea business in Nigeria. The approval on April 30, 2021 followed the announcement made on Feb. 25 about Unilever Nigeria’s planned separation of its tea business as part of the global separation, according to a statement obtained from the Nigerian Exchange Limited. The company noted that on 23 July 2020, following the completion of a strategic review, Uni...
Punch Newspapers Sections ’Femi Asu Published 11 May 2021 The Securities and Exchange Commission has said capital market operators that fail to renew their registration at the expiration of late filing on May 31, 2021 will not be eligible to operate in the capital market. SEC said in a statement on Monday that this was stated in a circular dated May 10, 2021 and signed by the management of the commission. It said in line with the requirements for renewal of registration, all CMOs were required to have completed the renewal process on or before April 30, 2021. “Consequently, the commissio...
Punch Newspapers Sections ’Femi Asu Published 11 May 2021 Ardova Plc, formerly Forte Oil Plc, has reported a profit after tax of N850.21m for the first quarter of 2021, up 70.91 percent from N497.45m in the same period last year. The integrated energy company’s profit before tax rose by 108.1 per cent to N1.21bn in Q1 2021 from N580.30m in Q1 2020. Its revenue, however, declined to N41.65bn from N52.05bn, according to its unaudited financial statements for the period ended March 31, 2021. Ardova’s shareholder funds increased by 4.7 per cent to N19.1bn from N18.2bn at the end of Decembe...
Punch Newspapers Sections ’Femi Asu and Temiloluwa O’Peters Published 4 May 2021 Published 4 May 2021 MTN Nigeria Communications Plc has reported a profit after tax of N73.75bn for the first quarter of 2021, up 42.35 percent from N51.74bn in the same quarter of last year. The telecommunications company said its profit before tax rose to N102.99bn in Q1 2021 from N76.91bn in the same period last year. Its revenue increased by 17.06 per cent to N385.32bn from N329.17bn, according to its unaudited financial statements. The telco said its mobile subscribers declined by five million to 71.5 m...