Vitafoam proposes 70k dividend; holds AGM

Vitafoam proposes 70k dividend; holds AGM   Vitafoam Plc has announced plans to hold virtual Annual General Meeting. The virtual meeting and 59th in the series, is scheduled on March 4. The board has also proposed a dividend of 70 kobo per share as against 42 kobo paid in the preceding year. This translates to a dividend yield of eight per cent at the company’s current share price on the Nigerian Stock Exchange, according to a statement issued by the company on Wednesday. The notice of the meeting signed by…

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Post-MPC Meeting: Investors shed caution mode, as NGSE index climbs higher

MPC

By Investdata Analysts Equity prices closed higher on the Nigerian Stock Exchange (NSE) at midweek as buying pressure increased as if to confirm that investors were waiting to see whether the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) would pull a surprise at its first meeting of the year which ended on Tuesday. The exchange thereby extended the bull transition for a third successive session on a high traded volume and positive sentiment for Telecoms, Insurance, Banking, Industrial and consumer goods stocks, which pushed the composite…

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Feats in telecoms sector earn Danbatta Man of the Year Award

Feats in telecoms sector earn Danbatta Man of the Year Award   Achievements in the Nigerian telecoms sectors have yet brought home another recognition to Umar Danbatta, the executive vice chairman and chief executive (EVC/CEO) of the Nigerian Communications Commission (NCC). The EVC has just received the prestigious “Man of the Year 2020” award from the Publishers of MoneyReport Magazine. The award was presented to the EVC at the Commission’s Headquarters in Abuja, on Tuesday by the Board Chairman, MoneyReport and former Director-General of the Nigerian Stock Exchange (NSE), Ndi Okereke-Onyiuke.…

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Air Peace begins flights to Ilorin, Ibadan, others in February

Air peace

Air Peace begins flights to Ilorin, Ibadan, others in February   One of Nigeria’s leading airlines, Air Peace, has said it would open more domestic routes and resume suspended ones as part of its route expansion drive. The new routes to be launched in February 2021 are: Enugu-Kano-Enugu, Enugu-Asaba-Enugu, PHC-Kano-PHC, PHC-Kaduna-PHC, Ilorin-Lagos-Ilorin, Ilorin-Abuja-Ilorin and Ibadan-Abuja-Ibadan. The suspended routes to be resumed are Kano-Owerri-Kano, Kano-Asaba-Kano, Lagos-Yola-Lagos and Abuja-Yola-Abuja. Oluwatoyin Olajide, the airline’s chief operating officer, who revealed this, stated that the airline will be receiving all its aircraft on overseas maintenance…

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You can’t fly Lufthansa flights with fabric face masks on again!

Lufthansa Flights

You can’t board Lufthansa flights with fabric face masks on again!   Lufthansa has specified the type of face masks that passengers on its flights are allowed to wear while flying with the airline from February 1. In a press statement titled ‘Adjustment of the facemask obligation as of February 1’, the company asked customers to use only FFP2, KN95 and N95 standard face masks or surgical masks. In the travel advisory issued on Monday on its website, it said masks made with fabric would no longer be permitted. Part…

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NGSE index soars on MPC meeting outcome, bargain hunting, positioning

Nigerian bourse extends gaining streak by N18bn

NGSE index soars on MPC meeting outcome, bargain hunting, positioning   By Investdata Analysts Trading activities on the Nigerian Stock Exchange on Tuesday was very volatile still, but bullish, closing higher on increased buying interests, heightening the gaining momentum, even on a low traded volume and amidst a positive breadth. The bull-run was thereby extended for the second consecutive session as members of the Central Bank of Nigeria’s Monetary Policy Committee voted unanimously to retain the monetary policy stance at the end of their two-day meeting. Specifically, the members voted,…

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Domestic stocks rebound with N46bn gain to open week

Domestic stocks

Domestic stocks rebound with N46bn gain to open week   The Nigerian equities market opened the week on a positive note as investors position ahead of 2020 full year earnings release. The benchmark All Share Index (ASI) advanced by 0.21 per cent to close at 41,088.96 basis points with market capitalization gaining N46 billion to settle at  N21.494 trillion. In summary, the   Year-to Date (YtD) performance improves to 2.03 per cent. The breakdown across different sectors indicates mixed performance as three out of the five major sub-sectors of the market closed…

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2020: Vitafoam shareholders to share N979.4m as dividend

Viatfoam

2020: Vitafoam shareholders to share N979.4m as dividend   Shareholders of Vitafoam Nigeria Plc are set to be rewarded from the gains of the operations of the company in 2020, despite the general economic downturn triggered by Coronavirus pandemic in the year. On the strength of the company’s outstanding performance last year, its board has recommended a cash dividend of N979.4 million for 2020, 64.5 per cent above N595.4 million paid in 2019. The current dividend translates into 70 kobo per share as against 42 kobo paid in the preceding…

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NIN-SIM linkage: ATCIS, NATCOMS insist on 6-month deadline extension

NIN-SIM linkage

NIN-SIM linkage: ATCIS, NATCOMS insist on 6-month deadline extension   Prominent subscriber groups in Nigeria have called on the federal government to extend deadline for linking National Identity Numbers (NIN) and subscriber identification modules (SIM) by another six months. The associations, championing the course of telecoms consumer right protection and promotion are the Association of Telephone, Cable Tv and Internet Subscribers (ATCIS) and National Association of Telecoms Subscribers (NATCOMS). In a press statement signed by Sina Bilesanmi, ATCIS national, the subscriber group challenged Nigerian authorities for exposing Nigerians to the…

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Meristem 2021 Outlook: Nigeria urged to brace up for a different future

Meristem

Meristem 2021 Outlook: Nigeria urged to brace up for a different future   Meristem Securities Limited, a leading capital market conglomerate, recently launched its economic outlook report for the year 2021. The outlook report titled ‘Bracing for a Different Future’ the report highlights in depth a wide range of issues relevant to an evolving future. With a global economy that has been scarred by the impact of the COVID-19 pandemic, the domestic economy is not left out, as the Nigeria economy slipped back into a recession, amplifying the structural weakness…

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