Iheanyi Nwachukwu

Lagos

Assistant Editor at BusinessDay Nigeria

Finance

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Articles

Investors gain N1.69trn as consumer goods, banking, oil & gas stocks rally

6 days ago | businessday.ng | Iheanyi Nwachukwu

Nigeria’s stock investors booked about N1.692trillion gain in the trading week ended Friday May 9. Buy activities seen in favour of consumer goods, banking, oil & gas stocks contributed majorly to the record increase by 2.54 percent in the review week. NGX Consumer Goods Index rose by 5.41 percent, NGX Banking Index (+3.09percent), NGX Oil & Gas Index (+3.98 percent), NGX Industrial Index (+1.09 percent), and while NGX Insurance index increased by 0.99 percent.
Linkage Assurance, Cornerstone explain delay in filing Q1 results

6 days ago | businessday.ng | Iheanyi Nwachukwu

Two insurance companies – Linkage Assurance Plc and Cornerstone Insurance Plc – have in different notices explained the delay in filing their results for the first quarter (Q1) ended March 31, 2025.
Seplat pegs exchange rate for final, special dividend at $/N1,609.6

6 days ago | businessday.ng | Iheanyi Nwachukwu

Seplat Energy Plc has confirmed that $/1,609.6357 naira is the exchange rate applicable in determining both the final and special dividend for 2024 to shareholders that will receive the dividend payment in Naira. The exchange rate for the Naira amounts payable is the CBN NFEM rate for May 8, 2025, Seplat said in its May 9 notice at the Nigerian Exchange Limited (NGX) signed by Eleanor Adaralegbe, Chief Financial Officer, Seplat Energy Plc.
Stock market records fourth consecutive day of positive close

1 week ago | businessday.ng | Iheanyi Nwachukwu

For the fourth time this week, Nigeria’s equities market on Thursday closed in the green zone, rising by 0.35 percent. This week, the market has risen by 3.01 percent. Also, this month, the market has risen by 3.24 percent, pushing the year’s return to 6.13 percent.
VFD Group shareholders approve N3.17bn dividend payout, 5-for-1 bonus share

1 week ago | businessday.ng | Iheanyi Nwachukwu

… as FY’24 profit hits N11.3bnVFD Group Plc, a proprietary investment firm building Africa’s most diverse business ecosystem, held its 9th Annual General Meeting (AGM) virtually on May 8, 2025. The meeting brought together shareholders and Board Directors to reflect on the Group’s 2024 performance and lay the groundwork for its ambitious continental expansion agenda.
Federal High Court upholds MultiChoice’s autonomy, dismisses FCCPC’s suit on DStv pricing

1 week ago | businessday.ng | Iheanyi Nwachukwu

In a landmark judgment, the Federal High Court in Abuja has upheld the right of MultiChoice Nigeria Limited, operators of DStv and GOtv, to independently determine its subscription pricing, marking a significant victory for business autonomy and the principles of a free-market economy in Nigeria. The case, brought by the Federal Competition and Consumer Protection Commission (FCCPC) after MultiChoice’s announcement of new subscription fee increases, was dismissed by Justice James Omotosho.
Airtel Africa advances in Airtel Money IPO, sets H1'26 for listing

1 week ago | businessday.ng | Iheanyi Nwachukwu

…to pay 3.9 cents final dividend as profit rises to $328m…returns $120m to shareholders through share buyback programmesAirtel Africa Plc has said that they are making significant progress in their preparations for the Airtel Money Initial Public Offer (IPO) and remain committed to this objective. Sunil Taldar, chief executive officer, Airtel Africa Plc noted this following the telecos recently released results for year ended March 31, 2025.
Here’re what to know in VFD Group unaudited Q1’25 results

1 week ago | businessday.ng | Iheanyi Nwachukwu

VFD Group Plc, a multi-sectoral investment Company, listed on the main board of the Nigerian Exchange (NGX) has released unaudited first-quarter (Q1) 2025 results. Gross EarningsThe Company recorded gross earnings of N19.81 billion in Q1’2025, a 29 percent increase relative to N15.35 billion achieved in Q1’2024.
Sterling Financial Holdco explains delay in filing audited, Q1 results

1 week ago | businessday.ng | Iheanyi Nwachukwu

Sterling Financial Holdings Company Plc has notified the Nigerian Exchange Limited (NGX), its shareholders, and the investing public of the delay in the filing of its Audited Financial Statements (AFS) for the year ended December 31, 2024 and by extension, its Unaudited Financial Statements for the first quarter (Q1) period ended March 31, 2025. This year, the stock has risen by 0.89 percent according to market data as at close of trading on Tuesday May 6.
NGX-ASI crosses 109,000 points on earnings-induced rally

1 week ago | businessday.ng | Iheanyi Nwachukwu

Nigerian Exchange Limited (NGX) All Share Index (ASI) crossed the 109,000 points mark on Wednesday as the stock market maintained its earnings-induced rally. The upward movement on Wednesday by 0.57 percent happened as impressive first-quarter (Q1) financials continued to drive buy-side activities on the Lagos Bourse.