David Olujinmi, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Sat, 17 Aug 2024 12:39:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 David Olujinmi, Author at Nairametrics 32 32 201037849 Union Bank records 138% profit growth for 2023 as restructuring plans continue https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/ https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/#respond Sat, 17 Aug 2024 09:13:02 +0000 https://nairametrics.com/?p=495983 Nigeria’s second oldest bank, Union Bank of Nigeria has reported a pre-tax profit of N71.8 billion in the 2023 full year, marking a 138% growth from the N30.2 billion posted in FY 2022.  

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]]> https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/feed/ 0 495983 Standard Bank Group plans to increase 67.55% stake in Nigeria’s Stanbic IBTC Holdings https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/ https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/#respond Fri, 16 Aug 2024 11:43:38 +0000 https://nairametrics.com/?p=495946 The CEO of the Standard Bank Group has announced plans to increase its stake in the Nigerian bank, Stanbic IBTC Holdings. 

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]]> https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/feed/ 0 495946 Fidelity Bank “surpasses target”, raises over N127.1 billion in first phase of recapitalization effort   https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/ https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/#respond Wed, 14 Aug 2024 14:09:10 +0000 https://nairametrics.com/?p=495784 Fidelity Bank has surpassed the N127.1 billion target set in its combined offer programme, as the bank concludes the programme.  

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]]> https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/feed/ 0 495784 Access Holdings rights issue extended to August 23  https://nairametrics.com/2024/08/14/access-holdings-rights-issue-extended-to-august-23/ https://nairametrics.com/2024/08/14/access-holdings-rights-issue-extended-to-august-23/#respond Wed, 14 Aug 2024 07:08:56 +0000 https://nairametrics.com/?p=495749 Access Holdings has received the approval of the Securities and Exchange Commission to extend its ongoing rights issue programme to August 23.  

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]]> https://nairametrics.com/2024/08/14/access-holdings-rights-issue-extended-to-august-23/feed/ 0 495749 Seplat to pay N28 billion in interim dividends for second quarter of 2024  https://nairametrics.com/2024/08/13/seplat-to-pay-n28-billion-in-interim-dividends-for-second-quarter-of-2024/ https://nairametrics.com/2024/08/13/seplat-to-pay-n28-billion-in-interim-dividends-for-second-quarter-of-2024/#respond Tue, 13 Aug 2024 18:11:06 +0000 https://nairametrics.com/?p=495728 Seplat Energy Plc will pay N28 billion in interim dividends to its shareholders for the second quarter of 2024. 

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]]> https://nairametrics.com/2024/08/13/seplat-to-pay-n28-billion-in-interim-dividends-for-second-quarter-of-2024/feed/ 0 495728 Zenith Bank promises higher dividend payout, as it gears for oversubscription in its N290 billion capital raise  https://nairametrics.com/2024/08/13/zenith-bank-promises-higher-dividend-payout-as-it-gears-for-oversubscription-in-its-n290-billion-capital-raise/ https://nairametrics.com/2024/08/13/zenith-bank-promises-higher-dividend-payout-as-it-gears-for-oversubscription-in-its-n290-billion-capital-raise/#respond Tue, 13 Aug 2024 13:27:49 +0000 https://nairametrics.com/?p=495705 Zenith Bank is promising an increased dividend payout to its shareholders despite the addition of over 8 billion shares through its ongoing combined offer.  

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]]> https://nairametrics.com/2024/08/13/zenith-bank-promises-higher-dividend-payout-as-it-gears-for-oversubscription-in-its-n290-billion-capital-raise/feed/ 0 495705 Oando soars by over 60% as banking stocks gain N316.4 billion in one week   https://nairametrics.com/2024/08/11/oando-soars-by-over-60-as-banking-stocks-gain-n316-4-billion-in-one-week/ https://nairametrics.com/2024/08/11/oando-soars-by-over-60-as-banking-stocks-gain-n316-4-billion-in-one-week/#respond Sun, 11 Aug 2024 09:13:02 +0000 https://nairametrics.com/?p=495575 Oando Plc was the highlight of the trading week ending August 9, 2024, as the stock posted a 60.47% gain to close with a share price of N40.60.  

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]]> https://nairametrics.com/2024/08/11/oando-soars-by-over-60-as-banking-stocks-gain-n316-4-billion-in-one-week/feed/ 0 495575 10 things you need to know about the proposed Providus-Unity Bank merger https://nairametrics.com/2024/08/10/10-things-you-need-to-know-about-the-proposed-providus-unity-bank-merger/ https://nairametrics.com/2024/08/10/10-things-you-need-to-know-about-the-proposed-providus-unity-bank-merger/#respond Sat, 10 Aug 2024 09:58:44 +0000 https://nairametrics.com/?p=495556 On August 6, 2024, the Central Bank of Nigeria approved the merger of Unity Bank and Providus Bank.

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]]> https://nairametrics.com/2024/08/10/10-things-you-need-to-know-about-the-proposed-providus-unity-bank-merger/feed/ 0 495556 FCMB Asset Management set to raise N100 billion in Nigeria’s first private credit fund  https://nairametrics.com/2024/08/08/fcmb-asset-management-set-to-raise-n100-billion-in-nigerias-first-private-credit-fund/ https://nairametrics.com/2024/08/08/fcmb-asset-management-set-to-raise-n100-billion-in-nigerias-first-private-credit-fund/#respond Thu, 08 Aug 2024 14:49:11 +0000 https://nairametrics.com/?p=495483 FCMB Asset Management is set to raise about N100 billion (~$63 million) over the next one year as it pioneers Nigeria’s first private credit fund.  

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]]> https://nairametrics.com/2024/08/08/fcmb-asset-management-set-to-raise-n100-billion-in-nigerias-first-private-credit-fund/feed/ 0 495483 One year after floating Naira, NGX market cap drops by $27.8 billion   https://nairametrics.com/2024/08/08/one-year-after-floating-naira-ngx-market-cap-drops-by-27-8-billion/ https://nairametrics.com/2024/08/08/one-year-after-floating-naira-ngx-market-cap-drops-by-27-8-billion/#respond Thu, 08 Aug 2024 11:18:10 +0000 https://nairametrics.com/?p=495464 About one year after the move by the Central Bank to float the Naira and achieve a unified exchange rate, the market capitalization of the Nigerian Exchange (NGX) has declined by $27.8 billion.  

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]]> https://nairametrics.com/2024/08/08/one-year-after-floating-naira-ngx-market-cap-drops-by-27-8-billion/feed/ 0 495464 Foreign inflow into the NGX rises to $161.4 million in first half of 2024 https://nairametrics.com/2024/08/06/foreign-inflow-into-the-ngx-rises-to-161-4-million-in-first-half-of-2024/ https://nairametrics.com/2024/08/06/foreign-inflow-into-the-ngx-rises-to-161-4-million-in-first-half-of-2024/#respond Tue, 06 Aug 2024 12:50:57 +0000 https://nairametrics.com/?p=495325 Foreign portfolio inflow into the Nigerian Exchange (NGX) in the first half of 2024 was about $161.4 million, representing a 14% year-on-year growth from $141.8 million as at the first half of 2023.  

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]]> https://nairametrics.com/2024/08/06/foreign-inflow-into-the-ngx-rises-to-161-4-million-in-first-half-of-2024/feed/ 0 495325 BUA Foods posts 24% profit growth in the second quarter of 2024 amidst N27.4 billion FX loss  https://nairametrics.com/2024/08/06/bua-foods-posts-24-profit-growth-in-the-second-quarter-of-2024-amidst-n27-4-billion-fx-loss/ https://nairametrics.com/2024/08/06/bua-foods-posts-24-profit-growth-in-the-second-quarter-of-2024-amidst-n27-4-billion-fx-loss/#respond Tue, 06 Aug 2024 06:54:34 +0000 https://nairametrics.com/?p=495287 BUA Foods posted a pre-tax profit of N76.8 billion in the second quarter of 2024, reflecting a 24% year-on-year growth from the N61.8 billion pre-tax profit posted in Q2 2023.  

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]]> https://nairametrics.com/2024/08/06/bua-foods-posts-24-profit-growth-in-the-second-quarter-of-2024-amidst-n27-4-billion-fx-loss/feed/ 0 495287 UAC posts 373% profit growth in the first half of 2024  https://nairametrics.com/2024/08/05/uac-posts-373-profit-growth-in-the-first-half-of-2024/ https://nairametrics.com/2024/08/05/uac-posts-373-profit-growth-in-the-first-half-of-2024/#respond Mon, 05 Aug 2024 12:17:34 +0000 https://nairametrics.com/?p=495238 UAC Nigeria posted a pre-tax profit of N15 billion in the first half of 2024, marking a 373% year-on-year increase from the N3.16 billion posted in H1 2023.  

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]]> https://nairametrics.com/2024/08/05/uac-posts-373-profit-growth-in-the-first-half-of-2024/feed/ 0 495238 MTN Nigeria falls to lowest price in 3 years as NGX suffers, joins global stock market crash https://nairametrics.com/2024/08/05/mtn-nigeria-falls-to-lowest-price-in-3-years-as-ngx-suffers-joins-global-stock-market-crash/ https://nairametrics.com/2024/08/05/mtn-nigeria-falls-to-lowest-price-in-3-years-as-ngx-suffers-joins-global-stock-market-crash/#respond Mon, 05 Aug 2024 12:15:19 +0000 https://nairametrics.com/?p=495237 A global stock market crash which started on Friday is gradually spreading to the NGX as midday trading data shows a decline in the market, with MTN Nigeria being the major victim.  

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]]> https://nairametrics.com/2024/08/05/mtn-nigeria-falls-to-lowest-price-in-3-years-as-ngx-suffers-joins-global-stock-market-crash/feed/ 0 495237 MTN Nigeria buys out minority shareholder in MoMo PSB for N6.95 billion   https://nairametrics.com/2024/08/05/mtn-nigeria-buys-out-minority-shareholder-in-momo-psb-for-n6-95-billion/ https://nairametrics.com/2024/08/05/mtn-nigeria-buys-out-minority-shareholder-in-momo-psb-for-n6-95-billion/#respond Mon, 05 Aug 2024 11:38:10 +0000 https://nairametrics.com/?p=495230 MTN Nigeria has bought out the minority shareholder in MoMo Payment Service Bank (MoMo PSB) for N6.95 billion.  

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]]> https://nairametrics.com/2024/08/05/mtn-nigeria-buys-out-minority-shareholder-in-momo-psb-for-n6-95-billion/feed/ 0 495230 Dangote Sugar posts N104.6 billion pre-tax loss in second quarter of 2024, amidst 140% rise in raw materials cost  https://nairametrics.com/2024/08/04/dangote-sugar-posts-n104-6-billion-pre-tax-loss-in-second-quarter-of-2024-amidst-140-rise-in-raw-materials-cost/ https://nairametrics.com/2024/08/04/dangote-sugar-posts-n104-6-billion-pre-tax-loss-in-second-quarter-of-2024-amidst-140-rise-in-raw-materials-cost/#respond Sun, 04 Aug 2024 07:58:12 +0000 https://nairametrics.com/?p=495169 Dangote Sugar posted a pre-tax loss of N104.6 billion in the second quarter of 2024, marking a 110% year-on-year decline from the N49.9 billion pre-tax loss posted in Q2 2023. 

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]]> https://nairametrics.com/2024/08/04/dangote-sugar-posts-n104-6-billion-pre-tax-loss-in-second-quarter-of-2024-amidst-140-rise-in-raw-materials-cost/feed/ 0 495169 NGX close week with N219 billion gain amid worst global stock market crash since 2020  https://nairametrics.com/2024/08/03/ngx-close-week-with-n219-billion-gain-amid-worst-global-stock-market-crash-since-2020/ https://nairametrics.com/2024/08/03/ngx-close-week-with-n219-billion-gain-amid-worst-global-stock-market-crash-since-2020/#respond Sat, 03 Aug 2024 07:06:21 +0000 https://nairametrics.com/?p=495124 Amid a global stock market crash that saw global stock markets lose over $2 trillion in market capitalization, the Nigerian Exchange (NGX) posted its first bullish trading day since July 22, 2024.  

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]]> https://nairametrics.com/2024/08/03/ngx-close-week-with-n219-billion-gain-amid-worst-global-stock-market-crash-since-2020/feed/ 0 495124 Dangote stocks shed N1.2 trillion in market cap in July  https://nairametrics.com/2024/08/03/dangote-stocks-shed-n1-2-trillion-in-market-cap-in-july/ https://nairametrics.com/2024/08/03/dangote-stocks-shed-n1-2-trillion-in-market-cap-in-july/#respond Sat, 03 Aug 2024 05:15:18 +0000 https://nairametrics.com/?p=495119 Companies under the Dangote Group lost about N1.21 trillion of their market capitalization in July 2024, as they all experienced double-digit share price decline during the month.  

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]]> https://nairametrics.com/2024/08/03/dangote-stocks-shed-n1-2-trillion-in-market-cap-in-july/feed/ 0 495119 Best performing stocks in Nigeria for July 2024 https://nairametrics.com/2024/08/02/best-performing-stocks-in-nigeria-for-july-2024/ https://nairametrics.com/2024/08/02/best-performing-stocks-in-nigeria-for-july-2024/#respond Fri, 02 Aug 2024 09:47:50 +0000 https://nairametrics.com/?p=495070 In July, the NGX posted a 2.28% decline as the All-Share Index moved from 100,057.49 at the start of the month to end the month at 97,774.22.  

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]]> https://nairametrics.com/2024/08/02/best-performing-stocks-in-nigeria-for-july-2024/feed/ 0 495070 #EndBadGovernance protests: Bankers work from home, as NGX operations unaffected    https://nairametrics.com/2024/08/01/endbadgovernance-protests-bankers-work-from-home-as-ngx-operations-unaffected/ https://nairametrics.com/2024/08/01/endbadgovernance-protests-bankers-work-from-home-as-ngx-operations-unaffected/#respond Thu, 01 Aug 2024 17:58:32 +0000 https://nairametrics.com/?p=495023 In response to the ongoing #EndBadGovernance protests, some banks in Nigeria have implemented remote work policies for their employees.  

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]]> https://nairametrics.com/2024/08/01/endbadgovernance-protests-bankers-work-from-home-as-ngx-operations-unaffected/feed/ 0 495023