MTN goes tech: How data overtook voice revenue
Last Wednesday, Africa’s largest telecommunications company, MTN, took an important step towards its ambition of becoming a full-fledged technology company and the biggest digital platform on the continent by 2025, with the unveiling of a new logo.
Subsidy: Labour threats foster value destruction in Nigeria
In response to the government’s plan to remove petrol subsidy since 1977, Nigeria’s labour groups shut down the economy in protests, but have never protested the government’s inability to fix the refineries despite spending billions in maintenance and paying for repairs.
Democracy in jeopardy as Buhari sits on Electoral Bill
Though President Muhammadu Buhari has a 30-day window within which to sign the Electoral Bill, experts say his habitual delay to attend to the bill is a threat to democracy and runs counter to his avowed promise to leave a legacy of reformed electoral process.
Nigeria sues JP Morgan for ‘gross negligence’ in Malabo oil deal
The Nigerian government has sued the US bank JP Morgan Chase in a London court for ‘gross negligence’ in its controversial sale of Oil Prospecting Licence (OPL) 245, an oil field reputed to be one of Africa’s biggest, worth about $1.3 billion.
Airlines suffer low load factor over price hike
Airlines operating in Nigeria are experiencing very low load factor as passengers shun flights as a result of increase in air fares. Last week, most domestic airlines operating in Nigeria increased economy flight tickets prices for domestic routes
Zamfara deputy governor impeached after refusing to join APC
Mahdi Gusau, the deputy governor of Zamfara State was on Wednesday impeached by the state House of Assembly. Reports say that Gusau was impeached at the plenary following acceptance of a report by Kulu Aliyu, a chief judge who was asked to probe charges of corruption and disloyalty against the Deputy Governor.
Investors Lose N21.36bn as NGXASI Dips by -0.08%; Erases Previous Day Gain
Equities market closed on a negative note, as NGXASI depreciated by -0.08% to close at 47,207.27 basis points as against +0.03% appreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +10.51%.
Market breadth closed positive as ETRANZACT led 24 Gainers as against 16 Losers topped by AFRIPRUD at the end of today’s session an unimproved performance when compared with previous outlook.
Market turnover closed negative as volume moved down by -45.32% as against +0.09% uptick recorded in the previous session. TRANSCORP, FIDELITYBK and UBCAP were the most active to boost market turnover. SEPLAT and AIRTELAFRI topped market value list.
GUINEAINS leads the list of active stocks that recorded impressive volume spike at the end of today’s session.
Unity Bank Plc Declares N2.47bn PAT in 2021 Unaudited Results,(SP:N0.50k)
Unity Bank Plc released its Q4 2021 Unaudited results for the period ended December 31st, 2021.
Key Highlights
- Gross Earnings grew by 18% from N42.71bn to N50.38bn
- Profit before tax stood at N2.69bn
- Profit after tax stood at N2.47bn
- Share Price Currently Stands at N0.50k
12months UNAUDITED REPORT FOR PERIOD ENDED 31 DEC
| 2021 N’m | 2020 N’m | % Change | |
| DEC | DEC | ||
| Gross Earnings | 50,382 | 42,709 | 18.0% |
| PBT | 2,686 | 2,223 | 20.8% |
| Taxation | (214.845) | (136.801) | 57.0% |
| PAT | 2,471 | 2,086 | 18.5% |
| Basic EPS(k) | 21.14 | 17.18 | 23.1% |
BALANCE SHEET INFORMATION
| Net Asset | (280,266) | (275,410) | 1.8% |
