Kayode Tokede

Lagos, Nigeria

Business Editor and Financial Journalist at Nigerian News Direct

Business Desk at This Day (Nigeria)

Bloomberg-certified Financial Journalist with wealth of Information in Business and Financial Market Analysis

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Articles

Report: Top 5 Banks’ Cash Reserve with CBN Totalled N51.54trn in Five Years

5 days ago | thisdaylive.com | Kayode Tokede

Kayode TokedeA report by Renaissance Capital Africa has revealed that five leading Deposit Money Banks (DMBs) cash reserve with the Central Bank of Nigeria (CBN) totalled N51.51 trillion between 2020 and 2024. Renaissance Capital in a report titled, “Nigerian Banks: Cash is King,” named Access Holdings, First Holdco Plc, Zenith Bank Plc, United Bank for Africa Plc (UBA) and Guaranty Trust Holding Company Plc (GTCO) as the leading depositors with the CBN.
Stakeholders Laud Nigerian Breweries Profit Generation in Q1 2025

1 week ago | thisdaylive.com | Kayode Tokede

Kayode TokedeStakeholders have commended the financial performance of Nigerian Breweries Plc in the first quarter(Q1) 2025, suggesting it not only points to a return to the days of rewarding shareholder value but also points to stability and growth in the brewery industry. It will be recalled that the multinational company released their Q1 2025, in which it posted excellent results across all vital indicators.
NGX Group, SEC Reaffirm Commitment to Deepen Nigeria-China Financial Ties

1 week ago | thisdaylive.com | Ndubuisi Francis |Kayode Tokede

Kayode TokedeIn a strategic move to position Nigeria’s capital market as a catalyst for cross-border investments, Nigerian Exchange Group Plc (NGX Group) and the Securities and Exchange Commission (SEC), have reaffirmed their commitment to fostering cross-border capital market partnerships. Their current engagements in China reflect a broader drive to strengthen Nigeria’s connectivity to global financial markets and attract new investment flows.
NGX to Sanction Jaiz Bank, Notore,11 Others for LateFiling of 2024FY Results

2 weeks ago | thisdaylive.com | Kayode Tokede

Kayode Tokede For late filing of 2024 financial year results, the Nigerian Exchange Limited (NGX) will soon impose sanctions on Jaiz Bank Plc and 12 other listed companies on the bourse. Other are: Unity Bank Plc, Smart Products Nigeria Plc, Sovereign Trust Insurance Plc, Sterling Financial Holdings Company Plc, Prestige Assurance Plc, Regency Alliance Insurance Plc, and Royal Exchange Plc.
Ecobank Explores $100bn Global Fashion Industry with Adire Exhibition

2 weeks ago | thisdaylive.com | Kayode Tokede

Kayode Tokede Ecobank Nigeria said it aimed to explore the $100billion global fashion industry by exposing Small and Medium Enterprises (SMEs), especially Adire makers in Nigeria to the market.
10 Stockbroking Firms Trade N2.14trn Worth of Stock in Five Months

3 weeks ago | thisdaylive.com | Kayode Tokede

Kayode TokedeA total of 10 stockbroking firms traded N2.14 trillion worth of stocks between January and May of 2025 as the domestic stock market closed positive in the period under review. The market capitalisation of Nigerian Exchange Limited (NGX) in the first five months of 2025 has appreciated by N7.7 trillion as average investors return rose by 8.56 per cent or 8,815.61 basis points to 111,742.01 basis points from 102,926.40 basis points it opened for trading this year.
Ecobank Gets Shareholders’ Approval to Raise Additional $250m Tier-1 Capital

1 month ago | thisdaylive.com | Kayode Tokede

Kayode Tokede Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, yesterday held its 37th Annual General Meeting (AGM) in Lomé, Togo, which was followed by an Extraordinary General Meeting (EGM). The shareholders at the meeting authorised the board of directors to raise $250million additional Tier-1 capital (AT1) as the Pan-African financial institution undergoing major transformation.
Fidelity Bank Clarifies CEO, Onyeali-Ikpe’s Purchase of Additional 18 Million Shares

1 month ago | thisdaylive.com | Nume Ekeghe |Ima Ekanem |Kayode Tokede

Kayode Tokede Fidelity Bank Plc yesterday clarified the recent purchase of an additional 18,000,000 units of its shares at N20.35 each by its Managing Director/Chief Executive Officer, Mrs. Nneka Onyeali-Ikpe. The shares were purchased in a transaction on May 19, on the Nigerian Exchange Limited (NGX). In November 2024, Onyeali-Ikpe, had increased her stake in the bank by acquiring an additional 10 million shares, valued at N157.9 million.
Q1: Despite Economic Turmoil, Seplat, MTN, 19 Others Generated N6.4trn Revenue

1 month ago | thisdaylive.com | Kayode Tokede

Kayode TokedeDespite the tough operating emvironment in Nigeria, Seplat Energy Plc MTN Nigeria Communications Plc and 19 other companies listed on the Nigerian Exchange Limited (NGX) recorded combined revenue of N6.4 trillion in the first quarter ended March 2025. The firms’ combined revenue is 63.7 per cent more than the N3.92 trillion recorded in the same period in the first quarter of 2024.
Neimeth Grows Sales by 86% to N1.21bn in Q1 2025

1 month ago | thisdaylive.com | Kayode Tokede

Kayode TokedeNeimeth International Pharmaceuticals Plc has said that it recorded strong growth in sales and profitability in the first quarter, raising optimism that the company would achieve impressive performance in the 2025 business year. Interim report and accounts of Neimeth for the three-month period ended March 31, 2025 released at the Nigerian Exchange (NGX) showed that turnover rose by 86 per cent from N648.26 million in first quarter 2024 to N1.21 billion in first quarter 2025.