Eterna Plc said it has received the Securities and Exchange Commission's (SEC) approval to proceed with its ₦21.52 billion Rights Issue of 978,108,485 ordinary shares of ₦0.50 each at ₦22.00 per share. The disclosure was made in a statement issued on Monday by the Company Secretary, David Edet, and sent to shareholders and the Nigerian …
The Nigeria Deposit Insurance Corporation (NDIC) has announced a ₦24.3 billion second liquidation dividend for depositors of the defunct Heritage Bank with balances above the insured limit of ₦5 million. NDIC made the declaration in a statement issued on Sunday by its Head of Communication and Public Affairs Department, Hawwau Gambo. “It is in continuation …
The United Bank for Africa (UBA Plc) has successfully exceeded the N500 billion minimum capital requirement set by the Central Bank of Nigeria (CBN) for banks with international licences, ahead of the March 31, 2026, deadline. According to UBA’s 2025 half-year audited results, the bank’s share capital and share premium stood at approximately N350 billion. …
The Chairman of First HoldCo Plc, Femi Otedola, has called on the Central Bank of Nigeria (CBN) to increase the minimum capital threshold for international banks to ₦1 trillion. The billionaire businessman and serial investor made the call in a statement on Friday. He believes that Nigeria’s ambition to build a $1 trillion economy by …
The majority shareholders of Premier Paints Plc are set to sell a 51 per cent stake to Xenergi Limited. The paint maker announced the ownership change in a statement to the investing public on Tuesday. Premier Paints Plc is a Nigeria‑based paint manufacturer established in 1982 and headquartered in Ifo, Ogun State. It produces decorative, …
Wema Bank Plc may emerge as the best-performing banking stock in 2025 on the Nigerian Exchange Limited (NGX). A review of the NGX stock market data by Pinnacle Daily, from the beginning of the year to the end of November, points in this direction. It shows Wema Bank as the only bank that has crossed the …
Seven deposit money banks reported a 33.14 per cent increase in AMCON Levy to N404.71 billion in the first half of the year, compared to N303.98 billion recorded by the banks in the same period in 2024. A review of the half-year financial statements of the banks revealed this; Pinnacle Daily can report. This comes …
First HoldCo Chairman Olufemi Otedola has acquired an additional ₦2.01 billion shares, raising his stake to 16.1 per cent to remain the largest individual shareholder of the company. The acquisition now increased his shareholding units to 6,742,471,831 of the company's issued share capital of 41,877,841,590 units. In a corporate disclosure dated Wednesday, September 24, to …
The BUA Foods Plc N13 per share proposed dividend has been approved by shareholders. It represents a 136 per cent increase from the N5.50 paid in 2023. The approval was given at its 4th Annual General Meeting on Thursday, September 11, in Abuja. In a statement by its Director of Marketing and Corporate Communications, Adewunmi …
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 …
