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Fidelity Bank records highest earning per share on the NGX H1 2023

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For the second year running, leading financial institution, Fidelity Bank Plc, has emerged the company with the highest earnings per share on the Nigerian Exchange Limited (NGX) based on half year financial figures.

According to a recently released statistics, Fidelity Bank, Seplat Energy, Total Energies, Okomu oil, Presco, Dangote Cement, MTN Nigeria, BUA Foods, First City Monument Bank (FCMB) and Geregu Power emerged as the companies with the highest earnings per share within the review period.

Earnings per share (EPS) is a company’s net profit divided by the number of common shares it has outstanding.
It also indicates how much money a company makes for each share of its stock and is a widely used metric for estimating corporate value.

A higher EPS indicates greater value because investors will pay more for a company’s shares if they think the company has higher profits relative to its share price.

Fidelity Bank recorded an earnings per share of N184 in the first half of 2023 from N79 in the first half of 2022.
The shares outstanding stand at 32.01 million, with a price which stood at N7 and a traded volume of 32.15 million as of 12:59 p.m. on Friday.

The bank’s profit for the period stood at N53.3 billion in the first half of 2023 from N22.84 billion in the similar period of 2022.

Fidelity Bank’s cash and cash equivalents rose to N501.54 billion in the first half of 2023 from N276.07 in the first half of 2022.

It would be recalled that the bank’s shareholders recently approved a capital raising exercise via a Public Offer for up to 10 billion Ordinary Shares and Rights Issue of up to 3.2 billion Ordinary Shares representing one new share for every 10 shares held to new and existing shareholders respectively.

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Air Peace tenders apologies over disruption of flights by unions

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The management of Nigeria’s largest airline, Air Peace, has apologised to passengers following disruptions to its flight operations in Lagos and Abuja airports as a result of an ongoing industrial action by organised labour unions.

The airline said members of the Nigeria Labour Congress, NLC, Air Transport Services Senior Staff Association of Nigeria, ATSSSAN, and Trade Union Congress, TUC, barricaded the entrances to its departure terminals at the Murtala Muhammed Airport Terminal 1, comprising the Alpha and Zulu Terminals and Terminal 2 in Lagos.

The blockade also affected access to the Nnamdi Azikiwe Airport terminal in Abuja, preventing scheduled flights from departing from both cities.

The statement by the airline’s management reads: “The ongoing industrial action has resulted in the barricading of the entrances to our departure terminals at Murtala Muhammed Airport Terminal 1 (Alpha and Zulu Terminals) and Terminal 2 in Lagos, as well as the Nnamdi Azikiwe International Airport Terminal in Abuja.

“The blockade has restricted access to these terminals, preventing the departure of scheduled flights from Lagos and Abuja. Consequently, passengers scheduled to travel across our network have been significantly affected by the disruption to flight operations.

“Air Peace sincerely apologises to all affected and stranded passengers for the disruption and inconvenience caused by circumstances beyond the airline’s control. Passengers scheduled to travel later today are being contacted and provided with relevant updates as the situation evolves.”

 

 

 

 

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NHRC demands Sheikh Yahya Jingir’s arrest over inciting remarks

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The The Executive Secretary of the National Human Rights Commission (NHRC) has urged the security agencies to arrest and Islamic cleric, Shiekh Yahya jingir over what the Commission described as inflammatory remarks capable of triggering crisis that could lead to abuse of rights of citizens.

The Executive Secretary of the Commission, Chief Tony Ojukwu, SAN, while condemning the remarks which is circulating on social media, said it was not only divisive and inviting but has potential to compromise peaceful life in communities across the country.

In a statement Tuesday signed by Hajoa Fatimah Mohammed Agwai, Director, Public Affairs and External Linkages,the NHRC boss described the statements as a direct attack on the principles of equality, non-discrimination, and peaceful coexistence guaranteed under the 1999 Constitution and Nigeria’s international human rights obligations.

“The Commission finds these remarks to be hate speech and incitement to religious hatred and potential violence. At a time when we are preparing for another general election, such utterances are reckless and dangerous. They serve no purpose other than to divide Nigerians along religious lines and set citizens against one another,” the Executive Secretary stated.

“We cannot afford to look away. If we fail to speak and act now, we embolden both Christian and Muslim clerics and other influential persons to make worse statements in the coming months. That path leads only to crisis,” he added.

In view of the foregoing, the Chief Human Rights Officer of Nigeria called on the Inspector General of Police, the Director General of the Department of State Services and other relevant authorities to immediately arrest and prosecute Sheikh Yahaya Jingir for hate speech and incitement.

Prosecution must proceed irrespective of status or political affiliation in order to serve as a deterrent to others who may seek to exploit religion for political gain during this election period.

The Learned Silk further called on all religious leaders, traditional rulers, and politicians to refrain from divisive rhetoric. He urged Nigerians to reject identity politics and to hold leaders accountable based on competence, service delivery, and respect for human rights.

“The Commission will continue to monitor compliance and will engage with security agencies, INEC, and civil society to ensure that the 2027 elections are free from hate and violence”, he concluded.

 

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Many abducted as bandits attack three commercial vehicles along Kogi highway

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Many passengers were abducted on Sunday when suspected bandits attacked three commercial buses along  Itobe-Achigili-Anyigba highway in Ofu Local Government Area of Kogi State.

The incidents, according to local sources, occurred in two separate attacks within a two-hour interval on Sunday at locations believed to be close to each other along the highway.

The first attack reportedly occurred at about 4 pm between Ojuwo-Ajengo and Mamerebo settlements, when a Hummer bus belonging to a popular mass transit company, said to be travelling to Abuja from the eastern part of the country, was intercepted by the gunmen.

The second incident took place around 6 pm between Ojodu and Ojuwo-Olijo village, where a Sharon bus and a Sienna commercial vehicle, both reportedly on inter-state journeys, were attacked.

Sources said the gunmen barricaded the highway, forcing the vehicles to stop before ordering the occupants into the surrounding bush.

A local source said two mobile phones were recovered from the grass around one of the vehicles and subsequently handed over to security operatives.

The source said the first bus, identified as a Hummer belonging to Peace Mass Transit with fleet number 2838, was intercepted around 4 pm.

The two other vehicles, identified as a Sharon and a Sienna with registration numbers Kogi ERE 138 AE and BB 362 MKA, respectively, were reportedly ambushed around 6 pm.

“The armed men left with all the occupants of the three buses. The exact number of people abducted from each vehicle is not yet known and may only be established through the passengers’ manifests,” another source said.

Following the attacks, a joint security operation involving personnel of the Nigerian Army, police, local vigilantes and hunters was reportedly deployed to the area to search for the victims and track down the perpetrators.

 

 

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