Chris Ugwu

Nigeria

Senior Financial Analyst at Nairametrics

Financial journalist

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Articles

Google Blocks 5.1 Billion Ads Globally, Blames Threats From Nigeria

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] In a sweeping global crackdown on harmful online content, Google says it blocked or removed 5.1 billion ads and restricted an additional 9.1 billion in 2024, highlighting increasing sophistication in digital scams, including persistent threats in Nigeria. The announcement was made in the tech giant’s 2024 Ads Safety Report, released on Wednesday.
Audit Scandal Forces PwC Out Of Nine African Countries

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] PricewaterhouseCoopers (PwC), one of the world’s leading professional services firms, has shut down operations in nine Sub-Saharan African countries as part of a sweeping strategic review. The move comes amid intensifying scrutiny and reputational challenges linked to a series of global audit failures and client-related controversies.
Standard Alliance Shareholders Approve N15bn Capital Increase, Name Change

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] Shareholders of Standard Alliance Insurance Plc have approved capital restructuring and rebranding plan during the company’s Extraordinary General Meeting (EGM), paving the way for a major corporate transformation. At the meeting, shareholders authorized the board to increase the company’s share capital from N1.75bn to N15bn and endorsed a name change from Standard Alliance Insurance Plc to Fortis Global Insurance Plc, subject to regulatory approvals.
InfraCredit Raises ₦27bn, Plans NGX Future Listing

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] InfraCredit, Nigeria’s domestic credit guarantee institution, has raised ₦27bn ($17.7m) in new equity as part of a broader ₦64bn ($41m) listing on the NASD OTC Exchange Plc. The capital raise, supported by a $6m investment from the United Kingdom through its MOBILIST programme, marks a major step toward deepening Nigeria’s local capital markets and accelerating infrastructure financing.
CSCS Shareholders To Get N8.8bn Dividend

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] The Central Securities Clearing System (CSCS) Plc has released its audited consolidated and separate financial statements for the year ended December 31, 2024, proposing a dividend of N1.76 per share, amounting to a total payout of N8.8bn. Total revenue grew by 37 per cent to N26.1bn in 2024, up from N19.0bn the previous year. Profit before tax also rose by 24 per cent to N13.8bn, compared to N11.2bn in 2023.
SEAP To Deliver 5MW Energy To 774 Local Govts

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] The Federal Government has officially launched the Sustainable Energy Access Projects (SEAP) with the commissioning of a 30-megawatt power facility in Shagamu Local Government Area of Ogun State. The initiative marks a significant milestone in Nigeria’s pursuit of universal energy access and a clean energy transition.
IEI Shareholders Approve ₦28.2bn Share Allotment To Norrenberger

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] Shareholders of International Energy Insurance Plc (IEI) have approved a major debt restructuring initiative involving the allotment of ₦28.2bn worth of shares to Norrenberger Advisory Partners Limited (NAPL). At the company’s 44th Annual General Meeting (AGM), shareholders unanimously endorsed a resolution that ratified the Board of Directors’ decision to restructure IEI’s longstanding indebtedness to Daewoo.
Kenyan Central Bank Approves Access Bank Full Acquisition Of NBK

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] Access Bank, a subsidiary of Nigeria’s Access Holdings Plc, has received final regulatory approvals to acquire 100 per cent shareholding of the National Bank of Kenya (NBK), marking a significant milestone in the lender’s strategic expansion across East Africa. The Central Bank of Kenya (CBK) confirmed on Monday that it granted approval for the transaction on April 4, 2025, under Section 13(4) of the Banking Act.
Rising Trade Tensions May Undermine Financial Stability, Says IMF

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] The International Monetary Fund (IMF) has warned that escalating geopolitical risk events, including trade tensions, pose a serious threat to global financial stability, potentially triggering sharp corrections in asset prices and elevating systemic market volatility.
NGX Lists 5.98 Billion New Shares Of First HoldCo After Rights Issue

1 week ago | thewhistler.ng | Chris Ugwu

[mc4wp_form id=33047] The Nigerian Exchange Limited (NGX) has listed an additional 5,982,548,799 ordinary shares of 50 Kobo each belonging to First HoldCo Plc, following the completion of the company’s Rights Issue. According to the NGX Weekly Report seen by THE WHISTLER, the newly listed shares were added to the Daily Official List of the Exchange.