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All Posts in "Day: May 23, 2025"

Fidelity Drives NGX Early Rally As Investors Swoop On Bank Stocks

 

By Iheanyi Nwachukwu

After muted days of buy activities, Nigeria’s stock market recorded early rally on Friday as invested pounced on the stocks of Fidelity Bank Plc.

As at 11am, the NGX All Share Index (ASI) was up by 0.19 percent to 109,385.94 points. Fidelity Bank was up to N18.60, after adding N1.255 (6.63 percent).

After Thursday’s negative close, Vetiva analysts said in their post trading commentary that, “With market breadth weakening and key sectors under pressure, investors may stay defensive unless renewed buying interest emerges in oversold key names. Barring a strong rebound in the banks or consumer goods space, the market looks set to close the week on a softer note”.

BusinessDay had ahead of Friday’s trading told investors to buy into recent dip in the stock market, specifically why they should hold or buy the Fidelity Bank stocks.

Fidelity Bank’s recent financial results provide further context. The lender recorded a Profit Before Tax of N105.8 billion in the first quarter of 2025, up 167.8 percent from the same period in 2024. Gross earnings also rose by 64.2 percent year-on-year to N315.4 billion, driven by both interest and non-interest income.

On the balance sheet, the bank’s total deposits climbed to N6.6 trillion, representing an 11.1 percent increase year-to-date, while net loans and advances rose by 5 percent to N4.6 trillion. These figures suggest sustained liquidity and the capacity to manage lending and investment operations effectively.

As published on the BusinessDay Website.

Online Poster by — May 23, 2025 in Industry 0
Ike Neliaku Re-elected As NIPR President; Nwankwo And McMedal Join Council


L-R: Dr. Ike Neliaku, Comfort Nwankwo, and Olusegun McMedal

Dr. Ike Neliaku has been re-elected as the President and Chairman of the Council of the Nigerian Institute of Public Relations (NIPR), alongside Vice President Prof. Emmanuel S. Daudara from Nasarawa Chapter. They will steer the affairs of the council for the next two years, together with other new executives.

 

Neliaku, who is from the FCT Chapter, was re-elected at the 2025 Annual General Meeting (AGM) held in Uyo, Akwa Ibom State, tagged ‘Uyo 2025.’ This event was part of the annual Nigeria Public Relations Week (NPRW) 2025, held in Uyo. Former Chairman of the Lagos Chapter, Olusegun McMedal, and the current Chairman of the chapter, Comfort Nwankwo, were elected as Council members.

 

A total of 17 members were elected into the council through e-voting, which members praised as credible and demonstrative of the viability of e-voting in Nigeria.

 

The other newly elected council members include Mr. Akin Agbejule (Niger), Mrs. Olubunmi Adedoyin Badejo (FCT), Prof. Kate Azuka Omenugha (Anambra), Mallam Bashir Adamu Chedi, and Dr. Saudat Salah Abdubaqi (Kwara).

 

Additional new members are Comrade Ini Ememobong (Akwa Ibom), Malam Kabir Ali Kobir (Bauchi), Pastor Paulinus Enyidah Nsirim (Rivers), Prof. Sarah Benjamin Lwahas (Plateau), Mr. Adaramola Temitope (Ogun State), Dr. Adewale Oladipo Oyekanmi (Osun), Chief Patrick Ogoegbunem Uka (Delta), and Sajoh Ahmed Ibrahim (Adamawa).

 

Since Dr. Neliaku assumed office, NIPR has undergone several reforms. Recently, Nigeria secured the bid to host the 2026 World Public Relations Forum (WPRF).

 

The NPRW 2025 edition, themed “Solid Minerals: A Solid Path to Nigeria’s Sustainable Economic Recovery – The Challenge for Public Relations,” brought together PR professionals, policymakers, and other stakeholders. The event was held at Ceedapeg Hotels, Uyo, from May 19–24, 2025.

Winifred Bosa by — May 23, 2025 in brands and Marketing 0
Study Tour: Ghana Cargo Technical Committee meets NIA-MOC  

The Ghana Cargo Technical Committee, which includes representatives from the National Insurance Commission(NIC), Ghana Insurance Association(GIA) Ghana Shippers Association (GSA),Ghana Revenue Authority(GRA)and the Institute of Chartered Shipbrokers(ICS), on Tuesday visited the Nigerian Insurers Association (NIA) on a study tour.
The Ghana Cargo Technical team was received at the Insurers House in Victoria Island, Lagos by the management of the NIA led by the Director-General, Mrs Bola Odukale, officials of the National Insurance Commission (NAICOM) led by Dr Julius Odidi,Head of Lagos Control Office, NAICOM, and executive members of the NIA Marine Offices Committee (NIA-MOC).
The primary objective of the educational tour is to gain insights into the operations of compulsory cargo insurance in Nigeria.
The meeting provided an opportunity for the Ghana Cargo Technical Committee to understand the processes, challenges, successes, and expectations regarding marine insurance business in Nigeria.
The visit was also an opportunity for the Ghana Cargo Technical Committee and the NIA team to discuss the intricacies of cargo insurance, share experiences, and explore potential collaboration.
The Ghana Cargo Technical Committee was led by Mr. Fred Asiedu-Darteh of Ghana Shippers’ Authority.
Other members of the Cargo Technical Committee from Ghana are: Mrs. Gertrude Adwoa Ohene-Asienim of Whitestone Shipbrokers Ghana Ltd/Maritime Consultant , Mrs Mercy Naa Koshie Boampong of Serene Insurance Company Ltd., Mr. Nutekpor Emmanuel of Customs Division of the Ghana Revenue Authority and Mr. Mawuli Zogbenu of National Insurance Commission, Ghana.
Online Poster by — May 23, 2025 in News 0
Guinea Insurance PLC Hosts Strategic Board Retreat To Reinforce Vision And Leadership Transition

Standing (L–R): Mr Ademola Abidogun (Managing Director/Chief Executive Officer), Mrs Chinenye Nwankwo (Company Secretary), Mrs Ogonna Offor-Orabueze (Executive Director, Technical), and Mr Pius Edobor (Executive Director, Finance & Corporate Services) Seated: Mrs Chioma Okigbo (Non-Executive Director), Mrs Bernice Izilen Okosun (Non-Executive Director), Mr Temitope Borishade (Chairman, Board of Directors), Mrs Ijeoma Pearl Okoro (Non-Executive Director), and Mr Samuel Onukwue (Non-Executive Director)

 

Guinea Insurance PLC convened a high-impact Board of Directors retreat from 15th to 16th May 2025 at the prestigious Lagos Continental Hotel, Victoria Island, Lagos. The retreat marked a defining moment of legacy, renewal, and strategic alignment, culminating in a formal Board meeting on 17th May, where the newly appointed and outgoing Board members engaged in collaborative dialogue, insightful knowledge exchange, and forward-looking deliberations focused on strengthening leadership synergy and reinforcing governance for the company’s future growth.

 

The event marked the official onboarding of the newly NAICOM-approved Directors, including Mr Temitope Borishade as Chairman, along with Mrs Bernice Izilen Okosun, Mrs Ijeoma Pearl Okoro, and Dr Nkemakonam Chukwukaodinaka as Non-Executive Directors. They join the existing Non-Executive Director, Mr Samuel Onukwue, and Independent Non-Executive Director, Mrs Chioma Okigbo, with Executive representation from Mr Ademola Abidogun (MD/CEO), Mr Pius Edobor (ED, Finance & Corporate Services), and Mrs Ogonna Offor-Orabueze (ED, Technical).

 

Designed to foster a shared vision and establish strategic priorities, the two-day retreat provided an in-depth overview of Guinea Insurance’s journey, spotlighting operational progress, brand repositioning, stakeholder engagement, and the company’s redirection towards sustainable profitability. Senior Management delivered performance insights, structural reforms, and growth opportunities aimed at repositioning the company as a formidable and competitive player in Nigeria’s insurance sector.

 

Speaking at the event, MD/CEO Mr Ademola Abidogun remarked: “This retreat is a clear reflection of our resolve to entrench corporate excellence, deepen stakeholder confidence, and unlock strategic growth. The combination of continuity and fresh perspectives at the Board level uniquely positions us to navigate the future with clarity and reinforce our renewed focus on profitability and long-term market competitiveness.”

 

Guinea Insurance remains committed to building a resilient, innovation-led, and trusted brand — exceeding expectations at every turn.

Online Poster by — May 23, 2025 in Insurance and Pension 0
Fidelity Bank Increases Staff Salaries

Tier-one lender, Fidelity Bank Plc, has recently announced salary increments for its staff following a remarkable full year 2024 financial performance.
The salary increase announced in May follows a prior increment from November 2024 and aims to recognize staff contributions in customer service and achieving corporate goals.
It will be recalled that the Dr. Nneka Onyeali-Ikpe-led institution recorded the highest growth in year-on-year profitability in the Nigerian banking industry in 2024 with a 210% growth in Profit Before Tax to N385.2 billion.
Similarly, the bank recently announced that it was on the verge of closing out on the Central Bank of Nigeria-mandated recapitalization directive with a private placement exercise scheduled to conclude in June 2025.
Online Poster by — May 23, 2025 in Capital Market 0