CBN’s MPC – Retains MPR at 14%

The Monetary Policy Committee of the Central Bank of Nigeria met yesterday, 24th July, and today 25th July, 2017, and decided to:

  • retain the Monetary Policy Rate (MPR) at 14%;
  • retain the Cash Reserve Ratio (CRR) at 22.5%;
  • retain the Liquidity Ratio at 30%; and
  • retain the asymmetric corridor around the MPR at +200 and -500 basis points.


SCOA NIGERIA PLC – Corporate Restructuring
Scoa Nigeria Plc. has announced the restructuring of its operations with the introduction of two new entities: Scoa Equipment Limited and Scoa Motors Limited.
Scoa Equipment Limited will be primarily engaged in importing, assembling, supplying and distributing high end equipment suitable for road/building construction, mining, agriculture, material/heavy lifting, firefighting, oil & gas, etc., while Scoa Motors Limited will deal in established brands of motor vehicles.
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TRIPPLE GEE & COMPANY PLC – Financial Result for the 3 Months Ended 30th June, 2017
Turnover: 54% increase from N101.5m to N156.3m
Profit/(Loss) after Tax: 264% increase from (N1.7m) to N2.7m (3M 2017 EPS, 0.55 kobo; 3M 2016 EPS, -0.33 kobo)
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FIDSON HEALTHCARE PLC – Financial Result for the 6 Months Ended 30th June, 2017
Revenue: 155% increase from N2.6bn to N6.7bn
Profit/(Loss) after Tax: 1,077% increase from N39.6m to N466.1m (6M 2017 EPS, 31.1 kobo; 6M 2016 EPS, 2.6 kobo)
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AIICO INSURANCE PLC – Financial Result for the 6 Months Ended 30th June, 2017
Gross Premium Written: 5% decrease from N15.6bn to N14.8bn
Profit/(Loss) after Tax: 29% decrease from N1.4bn to N988.3m (6M 2017 EPS, 14 kobo; 6M 2016 EPS, 20 kobo)
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CAVERTON OFFSHORE SUPPORT GROUP PLC – Financial Result for the 6 Months Ended 30th June, 2017
Revenue: 11% increase from N9.1bn to N10.1bn
Profit/(Loss) after Tax: 124% increase from (N2.4bn) to N594.6m (6M 2017 EPS, 18 kobo; 6M 2016 EPS, -73 kobo)
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DIAMOND BANK PLC – Appointment of Directors
Diamond Bank Plc. has announced the appointment of Mrs. Juliet Anammah, Mrs. Aisha Muhammed Oyebode and Mr. Dele Babade as Non-Executive Directors on its Board of Directors.
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UNITYKAPITAL ASSURANCE PLC – Divestment by Unity Bank; Board Changes
UnityKapital Assurance Plc. has announced the completion of the divestment of Unity Bank Plc’s holding in the Company to Veritas Capital Limited and the receipt of regulatory approval for “the takeover bid of 5% offered to shareholders” of the Company.

The Company further announced the resignation of Mrs. Aisha A. Abraham, Mr. Bonaventure Okhaimo and Mr. Farouk L. Yola from its Board, and the appointment of Mr. Thomas A. Etuh, Mr. Aminu Babangida, Dr. Oluwafunsho A. Obasanjo, Hajiya Yabawa Lawan Wabi, and Mr. Abe Ibraheem to its Board.
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BOC GASES NIGERIA PLC – Financial Result for the 6 Months Ended 30th June, 2017
Revenue: 30% increase from N926.6m to N1.2bn
Profit/(Loss) after Tax: 963% increase from N12.8m to N136.4m (6M 2017 EPS, 33 kobo; 6M 2016 EPS, 3 kobo)
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