First Bank of Nigeria (FBN) Holdings Plc has announced shareholder approval for a rebranding effort that will see the company adopt the new name First Holdco Plc. In a statement issued on Friday by the company secretary, Adewale Arogundade, the decision was finalized during the 12th Annual General Meeting, held virtually on Thursday. EDITOR’S PICKS … Read more
EKO HOT BLOG reports that MTN Nigeria Plc has disclosed a staggering pre-tax loss of N177.8 billion for the fiscal year ended December 31, 2023, marking a drastic downturn from the N518.8 billion pre-tax profit reported in the previous year. This loss has led to a complete erasure of the shareholders’ funds, an occurrence that has … Read more
Shareholders of Union Bank of Nigeria (UBN) on Tuesday endorsed the proposed reduction of N54.4 billion from the bank’s share premium account aimed at restructuring its balance sheet for optimal performance. They gave the approval at the bank’s Extra-Ordinary General Meeting (EGM) held in Lagos. The bank’s Chairman, Cyril Odu, said the company’s financial position, … Read more