GTCO is the Best Dividend Stock to Buy

By Aduragbemi Omiyale The popular Ajose Adeogun Street and Roundabout on Victoria Island, Lagos, is wearing a new look, thanks to Zenith Bank Plc, which designed the areas with beautiful Christmas decorations. The yearly ritual of the financial institution is a part of its Corporate Social Responsibility initiatives aimed at setting the tone for the Christmas and Yuletide seasons. Performing the Light-Up ceremony, the 17th of its kind recently, the chief executive of Zenith Bank, Mr Ebenezer Onyeagwu, expressed his delight in heralding the 2023 Yuletide season by lighting up the iconic Ajose Adeogun Street and Roundabout. He urged everyone

By Modupe Gbadeyanka For supporting Micro, Small and Medium-scale Enterprises (MSMEs) with credit facilities, Ecobank Nigeria Limited has won big at the 2023 Development Bank of Nigeria (DBN) Annual Service Ambassador Awards ceremony held in Lagos. The DBN Ambassadors Programme was designed to increase the sense of ownership among participating financial institutions, build capacity, increase on-lending small businesses and ultimately deepen financial inclusion in Nigeria. Ecobank is a participating financial institution in partnership with DBN to provide credit facilities, credit guarantees and technical support to MSMEs. It got an award for Platinum Service Ambassador; Bank with the Highest Impact on

By Adedapo Adesanya The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to strengthen its banking supervision to prevent some crucial Nigerian banks from failing due to its planned recapitalisation. Last Friday, the Governor of CBN, Mr Olayemi Cardoso, said the CBN would be directing banks to increase their capital base to serve a $1 trillion economy to be achieved by 2030. In a statement signed by Mrs Chinyere Almona, the director general of LCCI, the chamber said, “On recapitalisation of banks, we commend the plan of the apex bank to review the

By Aduragbemi Omiyale DataPro and Agusto & Co have upgraded the credit ratings of a Lagos-based development investment bank, DLM Capital Group, following an improvement in its credit risk and liquidity risk management. DLM Capital Group is a company with many subsidiaries, including DLM Advisory, DLM Asset Management, DLM Securities, CitiHomes Finance Company, DLM Nominees, DLM Trust Company, Sofri Bank (LINKS MFB), and DLM FX. The group provides innovative solutions to economic and social developmental challenges that impact the everyday lives of people. In its rating assessment, the pan African credit rating agency, Agusto, explained that it upgraded DLM Capital

Gold has been used as a form of currency for centuries. It is an incredibly valuable metal and is often seen as a sign of wealth and prosperity. In recent years, it has also become popular to hold gold in a retirement account – known as a Gold IRA Account. There are many different types of precious metals that can be held in a Gold IRA, but in this article, we will focus on four of the most popular: gold, silver, platinum, and palladium. Each of these metals has unique properties that make it beneficial to hold in a retirement

By Dipo Olowookere The Central Bank of Nigeria (CBN) on Thursday mopped up excess liquidity in the system with the sale of treasury bills worth N355.4 billion. This came as treasury bills, both OMO and the primary market, worth N150 billion matured today. A breakdown of the OMO auction by the central bank showed that N143.65 billion worth of the 84-day bill was sold on Thursday at 13 percent, while N211.71 billion worth of the 315-day bill was traded at 14.80 percent. Business Post reports that despite the CBN auction, the treasury bills market was relatively bearish. Consequently, the average

By Aduragbemi Omiyale The Post Master General of the federation as the Chief Executive Officer (CEO) of the Nigerian Postal Service (NIPOST), Mr Ismail Adebayo Adewusi, has blamed “internet technology” for the agency’s poor operational efficiency. Mr Adewusi said NIPOST is not the only organisation affected by this, noting that internet technology has also altered the operational efficiency of the postal services across the world. However, he emphasised that the agency was not deterred as efforts are being made to reform the company to make it a pride of Nigerians. “We have started the process of reform which is culminating

By Dipo Olowookere Some shareholders of PZ Cussons Nigeria Plc have lost about N160 million in dividends over their failure to claim them for more than 12 years. According to Nigerian law, when dividends paid to shareholders by a company are not claimed for a period of 12 years, they are returned to the organisation. Section 385 of the Companies and Allied matters Act, Cap C20, Laws of the Federal Republic of Nigeria, 2004 states that, “Dividends shall be special debts due to, and recoverable by, shareholders within 12 years, and actionable only when declared.” When these cash rewards are

By Modupe Gbadeyanka A new report has revealed that Nigeria has surpassed the milestone of fully vaccinating 30 per cent of its total population as a result of a sustained COVID-19 vaccination rollout in recent months. Nigeria has maintained the COVID-19 vaccine rollout through campaigns and initiatives with the support of stakeholders, including Gavi, the Vaccine Alliance. COVAX, which Gavi co-leads with the Coalition for Epidemic Preparedness Innovations (CEPI), WHO and UNICEF, has supplied over 91 million COVID-19 vaccines to Nigeria (about 65 per cent of all vaccines received) and over 669 million to the African continent. The country has

By Okechukwu Keshi Ukegbu Suicide is defined as the act of intentionally causing one’s own death. Studies have traced causes of suicide to mental disorders, including depression, bipolar disorder, schizophrenia, personality disorders, and substance abuse—including alcoholism and the use of benzodiazepine, among others. Unfortunately, analysts have begun to wonder recently if the evil spirit influencing suicide has finally decided to domicile in Nigeria. No minute passes without the news of suicide or attempted suicide. Every now and then, the stories that adorn the media landscape are “a student of the Lagos State Polytechnic, KingEzekiel Joseph Mayowa, drank sniper because his

By Dipo Olowookere Transactions on the floor of the Nigerian Stock Exchange (NSE) further closed positive on Tuesday after a 0.14 percent growth. The upward trajectory was sustained by bargain hunting as investors anticipate positive earnings news and dividend windfall. The expectation of impressive 2018 financial results of some listed fundamentally sound companies helped the All-Share Index (ASI) grow by 43.72 points yesterday to finish at  32,173.66 points, while the market capitalisation appreciated by N16 billion to settle at N11.998 trillion. Business Post reports that despite the local bourse closing higher on Tuesday, the market breadth finished negative with 14

By Dipo Olowookere Investors booked profit on the floor of the Nigerian Stock Exchange (NSE) on Friday a day after the market rose by over 6 per cent. During the trading session on Thursday, the exchange triggered its circuit breaker for the first time as a result of the over 5 per cent growth it witnessed before the close of trading. However, the next day, the market slipped by 0.86 per cent as market participants quickly sold off to take profit and this left 38 stocks bleeding, while 26 equities closed with green colour. MTN Nigeria, which was the heaviest