In a bid to enhance returns for its shareholders in keeping with its mission of creating sustainable value for its stakeholders, Transnational Corporation of Nigeria, Transcorp, Plc, is embarking on various expansion initiatives. Presently, the company has made major acquisitions in power and agribusiness, coupled with new initiatives in its hotel and tourism business and the on-going exploratory activities from its existing oil block . Investment analysts are of the opinion that the various expansion projects will translate to improved financial fortune in the medium term.

Shareholders of Unilever Nigeria Plc have unanimously endorsed proposal by its Board of Directors to pay N189.2 million dividend for the financial year 2015. The dividend declared amidst a challenging operating year translates to a dividend payout of 5 kobo per ordinary share to the shareholders.

FrieslandCampina Wamco Nigeria Plc has predicted that the country’s Gross Domestic Product, GDP growth is expected to rebound in 2016 if the right mix of fiscal and monetary policies is put in place, just as it posted a Profit Before Tax, PBT of N18.6 billion for the financial year 2015.

AFRICA’s richest man, Aliko Dangote has enjoined old and existing investors on the continent to stop painting a gloomy picture of doing business in Africa. He made the call in an address at the ongoing World Economic Forum on Africa in Kigali, Rwanda.

The Minister of State for Industry, Trade and Investment, Hajia Aishat Abubakar has said the Federal Government is developing a holistic strategy to tackle the menace of smuggling which is threatening the patronage of locally manufactured goods.

The directors of ten banks collected N7.6 billion as fees and allowances in 2015, representing 1.58 percent of the banks’ profitability during the year. The ten banks are Guaranty Trust Bank, Zenith bank, Access Bank, FirstBank, UBA, Union Bank, Diamond Bank, Sterling Bank, Fidelity and Wema Bank.

OGUN State government has said that the state attracted over N690 billion investments in 2014, signaling its emergence as the nation’s number destination for private sector investment. Governor of Ogun State, Senator Ibikunle Amosun, disclosed this while addressing a press conference ahead of this year’s Ogun State Investor’s forum.

The Naira weakened in the foreign exchange forwards market due to declining confidence triggered by persistent decline in the nation’s external reserve. The forwards market is for foreign exchange transactions to be delivered at agreed dates in the future. Last week the external reserves dropped by $104 million from $27.12 billion on April 29th to $26.919 billion on Thursday may 5th. Cumulatively the external reserve has fell by $2.15 billion from $26.92 billion at the beginning of the year.

The Central Bank of Nigeria (CBN) has banned all forms of discriminatory practices in the provision of electronic payment service. This was one of the highlights of two revised guidelines relating to e-payment services issued by the apex bank on Friday. The guidelines are: Guidelines on Transactions Switching in Nigeria; and Guidelines on Operations of Electronic Payment Channels in Nigeria.

Nigeria Breweries Plc has disclosed that despite tough operating environment, it paid N16 billion as tax to the Federal Government for the financial year 2015 and also created 4,000 direct jobs. It further disclosed that the beer industry in the country grew by one percent in 2015, while beer consumption per person stood at 11 liters. Mr. Nicolaas Vervelde, Managing Director/CEO, disclosed this during the company’s Pre-AGM Media briefing held in Lagos last weekend.

The Managing Director of the Federal Airport Authority of Nigeria, FAAN, Engr Saleh Dunoma has disclosed that paucity of funds is responsible for the slow pace of work at the cargo airports under construction across the country and that some equipment for the airports have arrived.

Total domestic investors’ participation on the Nigerian Stock Exchange, NSE, fell by approximately 17 per cent in the month of March as apathy continues to greet equity investment in the nation’s capital marke According to figures released by the NSE, weekend at the end of the month of March , domestic investors reduced their stake to N61.87 billion, indicating 63.52 per cent participation from N74.49 billion they committed in the market in February this year. This represents a total decline of 17 per cent during the period.

How to expand access to affordable housing in Africa will be the focus of stakeholders in the built environment as participants from 10 countries and 200 indigenous companies gather at the 10th Abuja Housing Show scheduled for 18th to 20th July, 2016. The Abuja Housing Show is an annual one stop-shop for real estate stakeholders presenting new products, innovative services and technology. It is a unique forum where practitioners in the housing and construction industry meet to exchange ideas and proffer solutions to housing problems.

Nigeria Civil Aviation Authority, NCAA, has said the regulatory authority is not aware of any reported case of foreign airlines operating in Nigeria charging Nigerian passengers dollars instead of Naira the official currency of the country. Investigations by Vanguard revealed that most of the Public relation consultants of the foreign airlines operating in Nigeria are not aware of this development also. The Media Executive, JSP Communications, Ijeoma Okolie, media consultants to Emirate Airlines, said she is not aware of the airline charging fares in dollars and compelling Nigerian passengers to also pay in foreign currencies.

Ahead of next week’s scheduled release of April 2016 inflation reading, economists at FSDH Merchant Bank have predicted a continued spike in the headline index. According to them the April 2016 inflation rate (year-on-year) is expected to increase to 13.7 per cent from 12.77 per cent recorded in the month of March 2016.