Geregu Power turned in 148.5 per cent more in net profit for the first half of the year compared to the same period of last year. The company’s position was impacted by increased income from energy sales and, to some extent, capacity charge – the company’s major revenue sources. The feat could mean the synergy … Read more
Billionaire tycoon Femi Otedola bought 797.7 million new shares in the financial services group FBN Holdings, the lender said in a regulatory filing on Monday. With the transaction, Mr Otedola secured a top ownership position in the holding company. The transaction worth N17.2 billion was conducted on Monday, according to a regulatory filing seen by … Read more
Over the course of the week, investors on the Nigerian Exchange Ltd. (NGX) equities market lost a total of N784 billion, week-on-week. Specifically, the market capitalisation, which opened the week at N56.296 trillion, shed N784 billion or 1.39 per cent to close the week at N55.512 trillion. The All-Share Index also declined by 1.39 per … Read more
FBN Holdings, the parent company of Nigeria’s oldest bank FirstBank, attained an all-time peak in its profit level last year after a big bulge in interest income helped net profit jump 127.6 per cent to N309.9 billion. The group’s unaudited earnings report hit the market Thursday, a day after its second-biggest shareholder, Femi Otedola, was … Read more
