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Total retains N5.77b dividend payout despite 46% drop in profit Total Nigeria PLC Board of Directors has recommended payment of final dividend of N4.75 billion to shareholders, bringing the total dividend payout for the 2017 business year to N5.77 billion. The company also paid N5.77 billion as cash dividend the previous year. The Nation PenCom: No fund to pay 2017 pension The Federal Government is yet to release money for payment of pension benefits to its former workers who retired from March 2017, the National Pension Commission (PenCom) has said. The Nation Diversification will bring more benefits, says Guinness MD T he ongoing efforts to diversify the economy from dependence on crude oil will enhance national development and create more opportunities for Nigerians, Guinness Nigeria Plc Managing Director, Mr Peter Ndegwa, has said. The Nation Afreximbank gets two directors T he African Export-Import Bank (Afreximbank) has appointed two senior managers as dir

Major oil stocks plummet on NSE Major oil stocks posted price depreciation on the Nigerian Stock Exchange ( NSE ) on Monday just as the market indices recorded marginal growth of 0.02 per cent. The Nation MDXI okays N2.5b for expansion An indigenous information technology (IT) firm, MDXI said it has set aside N2.5billion for the expansion of its foothold in the country. The Nation Global Accelerex unveils Android PoS terminal A Central Bank of Nigeria (CBN) licensed payment terminal service provider, Global Accelerex, has unveiled NEXGO N5, the first single unit Android point of sale (PoS) terminal to be certified for payment acceptance in Nigeria. The Nation Solving GE’s narrow gauge conundrum Twice, the American firm, General Electric (GE) was penciled to roll out operations on the 1,100 kilometres Lagos-Kano narrow gauge track, one of its concessioned networks last year. But on both occasions, it failed. The first time was in May, while the second was Dec

Why lending rates are high in microfinance banks — Operators CHIEF Executive Officers of Microfinance Banks (MfBs) have attributed the high interest rate charged by the banks to the high cost of doing business in the sub-sector. Vanguard Insurers pay N119.5b claims Amid the hardship of recession in 2016, insurers helped restore businesses and  protect families of insured Nigerians through payment of claims for losses worth N119.5 billion, a report by the Nigeria Insurers Association (NIA) has shown. The Nation Isuzu launches operations in South Africa Isuzu Motors has launched its business operations in South Africa.  This followed the announcement last year when the firm said it would purchase the light commercial vehicle operations in Port Elizabeth and the balance of shareholding in its Isuzu Trucks South Africa operations. The Nation South Africa raises VAT for first time in 25 years S outh Africa’s new leadership has announced it was taking the politicall

The Company Legal form:   The Company was incorporated as a private limited liability company in 1956 and was converted to a public company in 1978. The merger of the Company with Elf Oil Nigeria Limited which commenced globally in November 1999 was completed in Nigeria in 2002. With this development, the authorised, issued and fully paid share capital was ₦148,541,000 made up of 297,082,000 ordinary shares of 50k each. In 2003, to mark the completion of its corporate mergers, Total Group worldwide reverted to its former name Total and adopted a new logo with a unifying design to express its corporate ambition. Accordingly, the Company changed its name from TotalFinaElf Nigeria Plc to Total Nigeria Plc in the same year. With the capitalisation of the bonus issue of 42,440,228 ordinary shares of 50k each in March 2004, the authorised share capital became ₦169,760,918 made up of 339,521,837 ordinary shares of 50k each. 61.72% of the Company's ordinary shares were he

Banks unwilling to give industrialists loans – MAN The Chairman, Manufacturers Association, Kwara and Kogi states branch, Alhaji Kamorudeen Yusuf, has said that many banks in the country have not demonstrated enough commitment to financing industrialisation. Punch PENGASSAN proffers solutions to lingering fuel scarcity The Petroleum and Natural Gas Senior Staff Association of Nigeria has called for the rehabilitation of the refineries, depots and other oil and gas facilities as the solutions to the current fuel scarcity in the country. Punch NCC board meets on 9mobile sale The Board of Commissioners of the Nigerian Communications Commission has met on the ongoing process to sell 9mobile formerly known as Etisalat to new investors. Punch Chinese billionaire, Li Shufu, buys biggest single stake in Daimler Chinese billionaire Li Shufu has bought a near 10-percent stake in Mercedes-Benz maker Daimler, making him the German group’s largest single shareholder, a stoc

Investors continue to trade with caution through out the week even as some of the result are now in public domain the Market is still observing proceedings.  The All Share index declined by (0.16%) to close the week at 42,570.89. This brought the year to date return of the ASI to 11.32%.   EQUITY A total turnover of 2.018 billion shares worth N21.740 billion in 25,496 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.940 billion shares valued at N27.924 billion that exchanged hands last week in 28,567 deals. ETPs  Also traded during the week were a total of 111,794 units of Exchange Traded Products (ETPs) valued at N1.806 million executed in 10 deals, compared with a total of 25,586 units valued at N3.004 million that was transacted last week in 11 deals.  BONDS  A total of 9,963 units of Federal Government Bonds valued at N10.057 million were traded this week in 21 deals, compared with a total of 2,

Reps tell Kachikwu, Baru to halt refineries’ $1.8bn TAM The House of Representatives on Thursday asked the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and the Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, Punch Petrol queues may not disappear soon, says Kachikwu The queues for Premium Motor Spirit, popularly known as petrol, in some parts of the country may not go away soon, the Minister of State for Petroleum Resources, Ibe Kachikwu, said on Thursday. Punch Japaul, Wapic, Total lead gainers as market sustains rally The equities market on Thursday continued on its positive trajectory as Japaul Oil & Maritime Service Plc, Wapic Insurance Plc and Total Nigeria Plc emerged as the best performing stocks. Punch Average T-bills yield closes at 14.84% At the close of trading at the fixed income market on Thursday, the average Treasury bills yield slumped by 0.08 per cent to close at 14.84 per cent, o