Wema Bank Plc said it has received approval from the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) for the successful completion of its N150 billion rights issue. The bank announced this in a statement seen by Pinnacle Daily on Thursday, September 11. The offer, which opened on April 14 this year …
Dangote Cement Plc has said that shareholders of the company received about N3.3 trillion in dividends over the past 15 years. This benefit besides the significant capital gains from the appreciation of the company’s stock. The Dangote Cement Chairman, Emmanuel Ikazoboh, hinted at this during the company’s ‘Facts Behind the Figures’ presentation at the Nigerian …
The Securities and Exchange Commission (SEC) has advised graduating Cadets of the Nigerian Defence Academy (NDA) to explore the various investment opportunities available in the capital market to create wealth. Director General of the Commission, Emomotimi Agama, gave this advice at the 23rd Convocation Lecture in honour of graduating cadets of 72 Regular Course and …
President Bola Tinubu has directed the Minister of Works, David Umahi, to reserve all Nigerian National Petroleum Company (NNPC) Limited tax credit road contracts below N20 billion exclusively for indigenous contractors. The order restricts the minister from awarding any of such projects to expatriate firms. Umahi made this known in a statement, hinting that the …
A Nigerian lawyer, Justice Segun Ojienoh, has petitioned the Google Group over the police location feature on its Google Maps, alleging it could be divulging sensitive security information and demanding the removal of the feature from the application. He claimed the feature portends a security threat not only to his life but also to other …
PZ Cussons Nigeria Plc has made a comeback to profitability, posting a ₦10.07 billion profit after tax; however, the company remains in a debt obligation with negative net assets, which puts its financial position at risk. A review of the company's audited financial statements for the year ended May 31, 2025, shows PZ Cussons remains …
The National Insurance Commission (NAICOM) has directed all insurance companies (insurers) to submit their recapitalisation plans on or before September 30, 2025. The directive is contained in guidelines on the minimum capital requirement (MCR), according to a circular on Monday, September 8, by the Director of the Supervision Directorate, Oluwatoyin Charles. It said the framework …
The Nigeria Civil Aviation Authority (NCAA) has summoned domestic airlines over the growing concerns affecting passengers and their flight operations. The emergency meeting is scheduled to be held on Wednesday, September 10, at the NCAA headquarters in Abuja. Its Director of Public Affairs and Consumer Protection, Michael Achimugu, confirmed this via his X handle on …
The Nigerian Civil Aviation Authority (NCAA) said it had received a directive from the Federal Government to start naming and shaming airlines violating aviation rules, particularly those fond of cancelling and delaying flights. NCAA Director of Public Affairs and Consumer Protection, Michael Achimugu, said in a statement on Monday, September 8. He explained that if …
United Bank for Africa (UBA) Plc said it has extended its sale of N157.843 billion shares to existing shareholders, known as a rights issue offer, by two weeks. It announced this in a statement issued over the weekend and signed by its Secretary/Legal Counsel, Bili Odum. The rights issue, which opened on Wednesday, July 30, …
