Finance & Investment

HEIRS Oil & Gas, Africa’s integrated energy company has reaffirmed its commitment to both national and global environmental, sustainability and governance (ESG) best practices in view of its upcoming operational 1-year anniversary. An important aspect of this commitment is the elimination of routine flaring from HHOGs OML 17 by 2025, in compliance with the Nigerian Government’s routine Flare Reduction/Elimination goal …

  UNITED Bank for Africa (UBA) Plc, has assured shareholders and investors of its unwavering commitment to sustain its current growth trajectory even as its efforts at business diversification across Africa and beyond continues to yield increasing returns.   The Group Chairman, Tony Elumelu, who made this declaration at UBA’s 60th Annual General Meeting, which was held at the Transcorp …

Shareholders to receive about N717m dividend  TRANSCORP Hotels Plc has announced its Audited Financial Statements for the full year ended December 31, 2021. The results published on the Nigerian Group Exchange showed a 114% growth in Revenue to N21.74bn from N10.16bn as of December 2020, while Gross Profit rose by 143 % to N16.23bn from N6.67bn.       The Company’s results show an impressive …

THE establishment of a Maintenance and Repair Organization (MRO) in Enugu State will create jobs and expand opportunities as well as drive potential investments, according to the Chairman of United Nigeria Airlines, Dr. Obiora Okonkwo. Speaking when he led a team of management of the airline on a courtesy visit to the state governor, Hon. Ifeanyi Ugwuanyi at Government House …

DELTA Air Lines will make investments of $1.2bn in Virgin Atlantic, Aeromexico and LATAM as the partner airlines transform their businesses to emerge from the global pandemic stronger and more resilient. Upon completion of their respective restructuring or recapitalization processes, Delta is targeting a 20% equity stake in Aeromexico and a 10% equity stake in LATAM. In addition, Delta will …

  CENTRAL Bank of Nigeria earmarked a whopping sum of N41billion, which is being disbursed by Heritage Bank Plc to farmers across multiple States for the expansion of wheat production project.   The disbursed fund is to consummate the expansion of Wheat Seed Multiplication Project, as part of the CBN’s Brown Revolution Initiative, an intervention programme to flag-off and support …

MANAGING Director and Chief Executive Officer of Heritage Bank Plc, Ifie Sekibo has explained that for sustainable solutions to economic recovery government and stakeholders need to create opportunities and consciously include Small and Medium Enterprises and youth entrepreneurship. Sekibo made this submission on the sidelines of the 14th Annual Banking and Finance Conference of the Chartered Institute of Bankers of …

HERITAGE Bank Plc and seven other banks have provided a total of N15.5billion to assist SCOA Nigeria Plc for the importation and supply of MAN Platform Trucks and equipment to Julius Berger Nigeria for construction of 380km Abuja-Kaduna-Kano roads and many others across the country. Specifically, Heritage Bank availed SCOA Motors an Advance Payment Guarantee (APG) N4.64 billion for the …

DELTA AIR LINES has today reported financial results for the December quarter and full year 2020 and provided its outlook for the March quarter 2021.Highlights of the December quarter and full year 2020 results, including both GAAP and adjusted metrics, are on page five and are incorporated here. According to Delta CEO, Ed Bastian 2020 was one of the airline’s …

FOR the first time in seventy-one years, leading financial institution, United Bank for Africa Plc (UBA) held its Annual General Meeting (AGM) virtually by proxy on Wednesday, April 29, 2020 paying N1 per 50 kobo shares to shareholders as it promised the previous year despite the ravaging COVID-19 pandemic. This is just as the Bank’s stakeholders commended the Board of …