Sterling Bank Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).
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First City Monument Bank Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).
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The Board of Directors of Lasaco Assurance Plc has announced the retirement of its Managing Director/Chief Executive Officer and the appointment of a new one.
This was disclosed in a notification that was signed by the firm’s secretary/legal adviser, Gertrude Olutekunbi and sent to the Nigeria Exchange Group Plc (NGX).
In the statement, the company disclosed that its former Managing Director, Mr. Segun Balogun had retired from the Board effective from May 29, 2021. In a bid to fill the void left by his departure, the Board announced the appointment of Mr. Razzaq Abiodun who will superintend over affairs as the MD/CEO, although in an acting capacity.
Mr. Segun Balogun is a financial industry expert with experience that over three decades of experience. Prior to his appointment as MD of LASACO Assurance Plc, he was the CEO of FBN General Insurance Limited. He was also the former MD/CEO of WAPIC Insurance Plc for 13 years.
Balogun is an alumnus of the prestigious University of Lagos and is a Fellow of the Chartered Insurance Institute of Nigeria. He is an Associate of the Chartered Insurance Institute of the United Kingdom.
In similar vein, his successor- Mr. Razzaq Abiodun has over 30 years’ experience in the insurance industry with technical expertise in claims, reinsurance, underwriting and marketing. He worked for a host of leading insurance companies like the defunct City Union Insurance, Metropolitian Trust Insurance (now Consolidated Hallmark), WAPIC Insurance Plc, among others. He joined Lasaco Assurance Plc in 2017 as Executive Director Technical and later became Deputy Managing Director Technical.
Abiodun is an alumnus of the Lagos State University and the Ghana Institute of Professional Studies (GIMPA), where he obtained a MBA and LLB respectively.
Coronation Insurance Plc released its audited full-year results for the period ended 31st of December 2020.
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Ecobank Transnational Incorporated, a leading Pan-African banking group and parent company of the Ecobank Group, has announced its plan to raise $300 million from the international debt capital markets through the issuance of Tier 2 qualifying sustainability notes.
According to a disclosure signed by the Group Head of Corporate Communications, Adenike Laoye, this plan was communicated to a host of regional Stock Exchanges that comprises of the Nigerian Exchange Group Plc (NGX), Ghana Stock Exchange and the Bourse Regionale des Valeurs Mobilieres.
According to the notice, ETI intends to list the Notes on the London Stock Exchange, with the anticipation that the Notes will be traded on its regulated market. Sequel to this, the issuance of the Notes is hence subject to prevailing market conditions and the conclusion of the necessary transaction documentation.
The Banking Group explained that an equivalent amount of the net proceeds of the Notes will be used to finance or re-finance, in part or full, new or existing eligible assets in accordance with ETI’s Sustainable Finance Framework.
More details about the nature of the Notes will be further communicated.
Notore Chemicals Industries Plc released its audited full-year results for the period ended 30th September 2020.
Commenting on why the firm recorded a massive loss despite a surge in its operating profit, the Chairman of Notore Chemical Industries Plc, General Yakubu Gowon said: ‘’ Our operating profit in the financial year increased by 177% from ₦3.42 billion in FYE 2019 to ₦9.48 billion in FYE 2020. Despite the positive operating profit, we recorded a loss for the year of ₦6.39 billion during the period (FYE 2019: ₦5.75 billion). This was due to the offsets caused by Finance Cost— which rose from ₦13.69 billion in FY 2019 to ₦23.40 billion in FY 2020—and an Exchange loss on US dollar-denominated loans of ₦7.72 billion as a result of the CBN’s devaluation of the Naira from ₦306/$ to ₦380/$ during the period.’’
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Bricklinks Africa Plc has released its full-year results for the period ended 31st of December, 2020.
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AXA Mansard Insurance Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).
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Okomu Oil Palm Company Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).
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Regency Alliance Insurance Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).
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