Latest – Page 43 – National Daily Newspaper

Breaking; NNPCL reduces pump price of petrol as competition intensifies

Breaking: NNPCL reduces pump price of petrol as competition intensifies

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, across its retail...

Outrage as man allegedly forced into car trunk by Police in Imo

Crime1 month ago

Outrage as man allegedly forced into car trunk by Police in Imo

A young man allegedly forced into the trunk of a vehicle by police officers attached to the Ihiagwa Divisional Headquarters in Imo State has...

MACBAN claims toxic crops killing cattle, raising fresh farmer-herder concerns

Latest1 month ago

MACBAN claims toxic crops killing cattle, raising fresh farmer-herder concerns

The latest warning by the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) over the increasing use of agrochemicals on farmlands has once again exposed...

Obasanjo's Abeokuta summit ignites fresh talks of opposition realignment

Latest1 month ago

Obasanjo’s Abeokuta summit ignites fresh talks of opposition realignment

As political actors quietly reposition ahead of the 2027 general election, a closed-door meeting between former President Olusegun Obasanjo and three influential political figures...

FirstHoldCo sets new Banking record with N6.2trn market capitalization By Segun Odunewu, Lagoss FirstHoldCo Plc has set a new benchmark in Nigeria's banking industry after its market capitalisation surpassed the N6 trillion mark during trading on Monday, August 3, 2026, making it the first listed banking group in the country to achieve the historic milestone. The feat reinforces the company's position as Nigeria's most valuable publicly quoted banking institution and underscores growing investor confidence in its financial performance, corporate restructuring and long-term growth prospects. At a share price of N136.50, with approximately 45.48 billion ordinary shares in issue, the financial holding company's market value climbed to about N6.21 trillion during the trading session on the Nigerian Exchange (NGX). The latest achievement extends an exceptional rally that has seen FirstHoldCo emerge as one of the Nigerian stock market's best-performing blue-chip stocks in 2026. The N6 trillion valuations comes barely two weeks after the company became the first Nigerian banking stock to cross the N5 trillion market capitalisation threshold. On July 22, 2026, FirstHoldCo's shares traded between N112 and N113, pushing its valuation beyond N5 trillion for the first time following the release of impressive half-year financial results that exceeded market expectations. With the latest appreciation, FirstHoldCo's shares have recorded a remarkable 184.97 per cent year-to-date gain, while investors who bought the stock at the end of June have seen returns of approximately 143.53 per cent in just over one month. The recent increase in investment by the company's Chairman, billionaire businessman Femi Otedola, has also strengthened market sentiment. Otedola recently increased his stake in FirstHoldCo to about 25.87 per cent, making him the company's largest shareholder after executing multi-billion-naira share acquisitions on the Nigerian Exchange. His declaration that he intends to eventually acquire majority ownership exceeding 51 per cent has further fuelled investor expectations that the institution will continue its transformation agenda. Capital market observers believe the rally demonstrates the willingness of investors to reward companies with strong financial performance and credible long-term strategies. Vice President, HighCap Securities, David Adonri, described the N6 trillion valuation as a reflection of renewed investor confidence in FirstHoldCo's transformation and earnings capacity. According to him, the market is increasingly pricing in expectations of stronger profitability, improved asset quality and sustained corporate restructuring under the current leadership. He, however, cautioned that maintaining such a valuation would require the company to consistently deliver robust financial performance capable of justifying investors' expectations. Managing Director of Afrinvest West Africa, Ike Chioke, said FirstHoldCo's rally illustrates how institutional investors are rewarding companies with clear strategic direction and improved governance. He noted that the company's strong half-year earnings and renewed confidence from major shareholders have significantly enhanced its attractiveness to both local and foreign investors. According to Chioke, sustained earnings growth, efficient capital allocation and prudent risk management will remain critical if the company is to preserve its premium valuation over the long term. Meanwhile, investment analyst Ambrose Omordion said the stock's impressive appreciation reflects a combination of strong corporate fundamentals and heightened market sentiment. He noted that while momentum has remained positive, investors should continue to evaluate FirstHoldCo based on earnings growth, dividend prospects and operational efficiency rather than share price appreciation alone. 7777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777 Lanre Shittu motors takes financial crime awareness campaign to Lagos classrooms By Segun Odunewu, Lagos Lanre Shittu Motors (LSM) has intensified its corporate social responsibility efforts by launching a large-scale campaign aimed at combating financial crime among young Nigerians through education, with the donation of hundreds of copies of a new anti-financial crime book to public secondary schools across Lagos State. The initiative, which forms part of the company's youth development and character-building programme, targets 200 public secondary schools in the first phase, with more than 150 schools already benefiting from the exercise. The campaign centres on the distribution of Clean Hands, Bright Future: A Youth Guide to Avoiding Financial Crime in Africa, a book designed to educate students on the dangers of fraud, cybercrime, identity theft, examination malpractice and other financial crimes, while promoting integrity, hard work, ethical leadership and responsible citizenship. The programme was flagged off at Kuramo Senior College and Victoria Island Senior Secondary School before extending to several other schools across the state. Author of the book, Mr. Adedayo Aluko, said the initiative was conceived in response to the growing involvement of young people in financial crimes across the country. According to him, educating children at an early stage remains one of the most effective strategies for preventing crime and shaping responsible future leaders. "The rate of financial crime among youths is becoming increasingly alarming. We believe education is one of the most effective tools to prevent crime. The message of the book is simple: crime does not pay, and with clean hands, every young person can build a brighter future," Aluko said. He explained that the project extends beyond distributing books, revealing that interactive enlightenment programmes, career talks and mentorship sessions would be organised in beneficiary schools to reinforce the values contained in the publication. Aluko commended Lanre Shittu Motors for sponsoring the initiative, describing the company's Managing Director, Mr. Taiwo Shittu, as a passionate advocate of youth empowerment and quality education. He said the automotive executive personally participated in the flag-off ceremony by presenting copies of the book to students while encouraging them to embrace education, hard work and skills acquisition as the genuine pathways to success. Speaking on the initiative, Taiwo Shittu said Lanre Shittu Motors believes that the fight against financial crime must begin with instilling the right values in young people. According to him, character development is as important as academic excellence in preparing future leaders. "Young people are the future of our nation. By investing in character development and educating students about the consequences of financial crime, we are helping to build responsible citizens who will contribute positively to society. "At Lanre Shittu Motors, we believe integrity, education and hard work remain the surest foundations for lasting success," he said. Shittu explained that the company's commitment to social investment reflects the enduring legacy of its founder and his father, the late Alhaji Rasak Olanrewaju Shittu, who built the organisation on the principles of integrity, compassion and community service.

Crime1 month ago

How soldiers tracked kidnappers through Edo forest, rescued 14 victims

What initially appeared to be another kidnapping incident along the notorious Lagos-Benin Expressway has emerged as a coordinated military rescue operation that prevented 14 Nigerians from...

Naira opens week stable as gap between official and parallel dollar markets narrows

Business1 month ago

Naira opens week stable as gap between official and parallel dollar markets narrows

The Nigerian naira began the week on a relatively stable note against the United States dollar, with the gap between the official foreign exchange market and...

FG introduces tough tax guidelines for crypto firms, sets N10m fine

Business1 month ago

FG introduces tough tax guidelines for crypto firms, sets N10m fine

The Nigeria Revenue Service (NRS) has unveiled comprehensive tax guidelines for the country’s virtual asset industry, imposing strict compliance obligations on cryptocurrency exchanges, Virtual...

Oil market retreats on US-Iran peace push: What it means for Nigeria

Business1 month ago

Oil market retreats on US-Iran peace push: What it means for Nigeria

Nigeria’s economy faces fresh uncertainty following a sharp decline in global crude oil prices after renewed diplomatic efforts between the United States and Iran...

Three years later, fuel subsidy savings remain under scrutiny

Energy1 month ago

Three years later, fuel subsidy savings remain under scrutiny

Three years after the Federal Government scrapped Nigeria’s fuel subsidy, questions over the fate of the expected savings continue to dominate public discourse, despite fresh explanations...

Five business developments to watch in Nigeria this August

Business1 month ago

Five business developments to watch in Nigeria this August

Investors, businesses and policymakers are closely monitoring several economic developments expected to shape Nigeria’s business environment this August as the country navigates persistent inflationary pressures, exchange...