Business

Nigerian Breweries Okays N2.40 Dividends

Published

15 years ago

March 1, 2011

Nigeria Breweries Plc is to pay its shareholders a second and final dividends for the year business which was concluded on December 31, 2010.

Nigerian Breweries, in a talk with the Nigerian Stock Exchange (NSE), said was the second and final dividend for the last year business. The company had during the year of business, paid an interim dividend of N1.50 for every N0.50 share held by it’s shareholders.

The company stated that it had recommended a dividend of N1.25 per share as a final dividend, Inline with this proposed payment, which sums upto N2.40 total dividend for the shareholders for last year.

The stated further company that the date for the closure of registeration of members is March 17, 2011 while payment date is due for May 19, 2011.

Furthermore, the continuous heavy selling that generalised the activities at the capital market for most of the last week came out in heavy losses as market major indicators ended last week in the red. Monday the down-ward movement of indicators resumed.

The main activity measuring indicators, NSE-30 while three out of the four sectoral indicators recorded losses.

All-share index (ASI) had a further decline of 164.34 basis points from it’s opening position for the week that sticked at 26,181.18 came-out lower at 26,016.84, with 164.34 points counted as a loss.

Blue chip companies in the market, went down from 1,148.12, it’s opening position at the starting of the week to end Monday at 1,138.79, diminishing by 9.33 points which was measured by the NSE 30 index of it’s activities.

The Banking sub-sector, loss 4.30 points, from 428.50, and close at 424.20, while investors exchanged a total of 444.746 million shares worth N2.4 billion in 6,327 deals.

The sub-sector was driven mainly by activities in share of Intercontinental Bank Plc, Zenith Bank Plc, First Bank of Nigeria Plc and FinBank Plc, accounted for 141 million shares.

Some activities boosted like; Continental Reinsurance Plc, AIICO Insurance Company plc and Intercontinental WAPIC nsurance.

The market capitalisation of the 201 first-tier quoted companies decreased to N8.315 trillion from N8.368 trillion recorded as at the close of trading on Friday last week.

NSE Insurance index depreciated by 0.29 points to close at 184.85, down from 185.13. Last week, while NSE Food/Beverages indicator depreciated by the day at 871.84, down from 831.34. NSE Oil/Cas close yesterday flat at 346.89 as at Friday.

Finally, 54 stocks recorded share price change, with positive side 16 and 38 on the negative side, with rest unchanged.

Four banks were listed. Skye Bank, Wema Bank, First Bank and Diamond Bank, on the positive price change table. Other gainer’s chart were: CAP Plc, International Breweries Plc, Nigerian Breweries Plc, Champion Breweries Plc and Fidson Healthcare Plc, among others.

Loser’s chart Monday featured 14 banking stocks of the 38. FCMB, Zenith Bank, Union Bank, Guaranty Bank Plc, among others. Other market heavyweight, depreciated and pushed down the market, such like, Dangote Sugar Plc, Dangote Flour Plc, Lafarage WAPCO Cement Plc, JAPAUL Oil and Maritime Services Plc and the rest market heavyweight.

Major stocks on the trading floor of Nigerian Stock Exchange (NSE) Monday and the quality traded; JAPAUL Oil $ Maritime Services Plc, 77.066 million share worth N146.226 million exchanged in 53 trades.

In bank sector, Intercontinental Bank Plc had 71.948 million of it’s shares exchanged in 356 deals for a value of N161.094 million. Fidson Healthcare had 41.857 million of it’s share traded valued at N99.220 million Zenith Bank, First Inland Bank, First Bank and Wema Bank had 26.978 million shares, 23.229 million, 19.703 million and 16.078 million shares exchanged.

Business

PENGASSAN Tasks Multinationals On Workers’ Salary Increase

Published

1 week ago

December 8, 2025

The Tide

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked companies in the oil and gas sector to undertake urgent review of salaries of their workers in view of the prevailing harsh economic conditions in the country.

Also, the pensioners of Chevron Nigeria, under the aegis PenCoN, have lauded the President of PENGASSAN, Comrade Festus Osifo and his executive on their unrelenting efforts toward addressing pension abnormalities faced by retired workers in the oil and gas industry.

The association also appealed to the federal government to take necessary measures to check banditry and terrorist activities in parts of the country.

PENGASSAN President, Osifo who addressed journalists shortly after the National Executive Council meeting of the association in Abuja, at the weekend, said that though a lot of success has been recorded in negotiating salary reviews for its members, there are still organisations that have failed to lift their workers from the present harsh economic situation.

He said within this period, PENGASSAN has signed numerous Collective Bargaining Agreements (CBAs) which has brought smiles to the faces of its teeming members.

“This is because we recognise that our job, literally, is how to protect the job of our members, and how to enhance their pay,” he said.

Osifo said that operators in the oil and gas sectors always go for the best qualified professionals to carry out their operations.

“So, the same way they recruit the best, we also challenge them to provide the best condition of service and provide the best remuneration.

“Yes, today, a lot of companies will have achieved successes, but there are still few that we are still discussing at their CBAs, that we are not yet there.

“We still use this opportunity to call on these companies that are still foot dragging, that are still holding back, even with the massive devaluation that has occurred in our country, that still don’t want to fix the remuneration of our members.

“We are calling on them to do the needful, because for us in PENGASSAN we will push without holding back. We will push, using everything in our arsenal, to ensure that the needful is done,” he said.

Osifo spoke of the dispute with the Dangote Refinery group, saying there are still pending issues to be resolved.

“Gentlemen of the press, during the networking session, we also looked at the issues that are plaguing some of our branches, and you know that recently, we had some challenges in Dangote Refinery and PetroChemicals Ltd.

“And within this period, since our last National Industrial Action, we have been engaging them in a lot of conversations, but the issues are not fully resolved. There are still a lot of pending issues.

“Yes, the NEC decided that, yes, let us still consummate that process by pushing those issues, by engaging in dialogue to resolve the issues, and by also engaging all our social partners and stakeholders to get the issues resolved,” he said.

Business

SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

Published

1 week ago

December 8, 2025

The Tide

The Securities and Exchange Commission (SEC) has launched the Regulatory Hub, a new centralized digital platform designed to streamline collaboration, strengthen oversight, and improve transparency across Nigeria’s financial and capital market ecosystem.

The Commission disclosed this in a statement posted on its website.

According to the commission, the platform connects key regulatory and security institutions including the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and Corporate Affairs Commission (CAC), enabling them to exchange information securely and in real time.

The launch of this regulatory hub comes ahead of the implementation of new tax laws in January 2026, with agencies such as the FIRS spreading its tentacles across sector to monitor compliance.

According to the SEC Director-General, Emomotimi Agama, the launch marks a significant step toward modernizing Nigeria’s regulatory framework through technology.

“The Regulatory Hub is a major step in our commitment to leverage technology for stronger regulatory synergy. By connecting regulators on one platform, we are building resilience, enhancing market integrity, and promoting investor confidence,” he said.

The SEC said the platform would help reduce bottlenecks in regulatory processes and facilitate faster, more informed decision-making across agencies.

Reinforcing the DG’s comments, the Executive Commissioner, Operations, Bola Ajomale, highlighted the operational benefits of the new system.

“The platform will significantly improve the timeliness and quality of regulatory decision-making. It provides a single window for regulators to share data, respond to requests, and collaborate seamlessly in safeguarding our financial and capital markets,” he said.

The commission believes the Regulatory Hub would support its broader mandate to strengthen investor protection, enhance market stability, and harmonize regulatory activities across the financial sector.

It urged stakeholders to initiate interest by emailing the Commission, adding that once registered, participants would be able to access the Hub and take advantage of its features.

Business

NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products

Published

1 week ago

December 8, 2025

The Tide

The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing circulation of banned food products across markets in the country.

The agency, in a Press Release dated 6 December 2025, warned that these items including pasta, noodles, sugar and tomato paste are expressly listed on the Federal Government’s Customs Prohibition List and are illegal to import.

NAFDAC stated that the sale and distribution of such prohibited items violate national trade laws, compromise the integrity of Nigeria’s food control system, and pose significant public health risks, as they have not undergone the agency’s mandatory safety and quality evaluations.

Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.

The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.

The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.

“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.

NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.

By: Lady Godknows Ogbulu