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Financial statements

Lafarge Africa Records N248bn Revenue, Profit Increases By 836%

The revenue of Lafarge Africa rose by 80.26 percent to N248.35 billion in the first quarter (Q1) of 2025, up from N137.77 billion generated in the same period last year. According to the company’s consolidated and separate financial statements for the period

May 23, 2025

Business·Top Stories

Fidelity Bank Generates N315bn In Three Months, Profit Up By 189%

Fidelity Bank’s gross earnings increased by 64.20 per cent quarter-on-quarter to N315.42 billion in the first quarter (Q1) of 2025, from N192.08 billion generated in the same period in 2024. The company’s turnover was driven largely by interest income, which grew to

May 5, 2025

Business·Top Stories

NEM Insurance Posts N97.96bn Revenue, Net Income Up By 30%

NEM Insurance had an impressive financial year in 2024, with revenue rising by 88 percent after generating N97.96 billion, up from N52.11 billion recorded in 2023. However, incurred claims and claims handling expenses ate into the company’s turnover as insurance service expenses

April 18, 2025

Stanbic IBTC Fined N159 million For Earnings Misinformation, Hoarding Export Proceeds, Others

Business

Stanbic IBTC In Trouble For Hoarding Export Proceeds, Misinformation On Earnings

For contravening various guidelines, Stanbic IBTC Holdings Plc was slammed with fines by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). Stanbic IBTC was also penalised by the National Pension Commission (PenCom), taking the total monetary fine

March 28, 2023

Business

GTBank’s Parent Firm Risks Regulatory Sanction Over Financial Statement

Guaranty Trust Holding Company (GTCO) risks facing regulatory sanction over its Audited Financial Statements (AFS) for the year ended 31 December 2022. GTCO, the parent company established out of Guaranty Trust Bank (GTBank) revealed that the company will be unable to meet

March 24, 2023

Business

Afromedia In Court Battle With Standard Chartered Bank Over N3.15 billion Loan

Afromedia has revealed that it will fail to meet the deadline to release its Audited Financial Statements for the year ended 31 December 2022 due to a lawsuit the firm is battling. The company was hit with a lawsuit that has prevented

March 22, 2023

Business·Insights

Best Performing Nigerian Cement Companies: Aliko Dangote Losing To Abdulsamad Rabiu

As earnings report for the first half (H1) period of 2022 emerges from Nigerian cement producers, Prime Business Africa analyses the performance of the Big Three companies operating in the industry. The revenue generated by the Nigerian cement industry, based on publicly

August 8, 2022

Business·Insights

International Breweries’ Investors Lost N10.74 billion In Five Days

International Breweries investors lost -6.89% of their investment after five days of trading this week, as the alcoholic producer’s share depreciated in the Nigerian stock market. Their loss was caused by sell off among shareholders on the exchange floor, who offloaded their

July 22, 2022

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Financial statements

Lafarge Africa Records N248bn Revenue, Profit Increases By 836%

Fidelity Bank Generates N315bn In Three Months, Profit Up By 189%

NEM Insurance Posts N97.96bn Revenue, Net Income Up By 30%

Stanbic IBTC In Trouble For Hoarding Export Proceeds, Misinformation On Earnings

GTBank’s Parent Firm Risks Regulatory Sanction Over Financial Statement

Afromedia In Court Battle With Standard Chartered Bank Over N3.15 billion Loan

Best Performing Nigerian Cement Companies: Aliko Dangote Losing To Abdulsamad Rabiu

International Breweries’ Investors Lost N10.74 billion In Five Days

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