Tinubu Signs Investment and Securities Act 2025 into Law
Sunday 30th March 2025
I hope you are having an amazing Sunday! Welcome back to the ONLY newsletter that gives readers a weekly recap of the major events in the Nigerian Business World.
The Investment and Securities Act (ISA) 2025, which President Bola Ahmed Tinubu signed into law, represents a significant turning point in Nigeria's capital market reform.
The Act strengthens the legal and regulatory framework for investments and capital market activities. It repeals the previous Investments and Securities Act No. 29 of 2007.
In a statement issued on Friday, the Securities and Exchange Commission (SEC) called the presidential assent a transformative step" that would improve market transparency, protect investors, and promote sustainable growth.
The Commission asserts that implementing ISA 2025 will establish important changes intended to align local operations with global best practices while reinforcing its jurisdiction as the top regulator of Nigeria's capital markets.
NNPC Set to be Listed on the Stock Market
According to the Petroleum Industry Act (PIA) 2021, the Nigerian National Petroleum Company Limited (NNPC Ltd) has stated that it is nearing the completion of its capital market listing.
The disclosure came in a statement by NNPC Ltd.'s Chief Corporate Communications Officer, Olufemi Soneye, released on Thursday, 27th March 2025.
According to Mr. Soneye, Olugbenga Oluwaniyi, the company's Chief Finance and Investor Relations Officer (CFIO), revealed this information during a consultative meeting with partners on Thursday at the NNPC Towers in Abuja.
The statement said;
“The Nigerian National Petroleum Company Limited (NNPC Ltd) is at the final stage of getting listed in the capital market, in keeping with the provisions of the Petroleum Industry Act (PIA) 2021.”
GTCO Record N1 Trillion Profit after Tax for 2024 FY
The 2024 full-year audited financial statements of GTCO Plc showed a record pre-tax profit of N1.266 trillion, up from N609.3 billion the previous year.
The bank holding company announced a sharp increase in gross earnings, from N1.186 trillion to N2.148 trillion in the previous year.
Additionally, GTCO reported an 88.4% increase in profit after tax to N1.017 trillion from N539.6 billion the previous year, the bank's highest profit disclosure.
The bank declared a final dividend of N7.03 per share, payable on April 24, 2025, as part of the earnings announcement. It resulted in a 151% increase in payout, bringing the total dividend for the 2024 fiscal year to N8.03 per share.
Zenith Bank Records N1 Trillion Profit after Tax for 2024 FY
Zenith Bank Plc reported a record profit after tax of N1.03 trillion in its 2024 fiscal year results.
Compared to the N676.9 billion reported a year ago, this represents a 52.5% increase.
Additionally, the bank announced a pre-tax profit of N1.32 trillion, a record for the bank and a 66.6% year-over-year increase.
A quick look at the results also reveals that the bank reported N3.9 trillion in gross earnings, with interest and trading income making up most of the top line.
The bank proposed a final N4.00 per share dividend as part of its earnings announcement, increasing its total dividend payout from 2024 profits to N5 per share from N4 per share in 2023.
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Thank you for reading! Stay tuned next week to be updated with the latest major events from the Nigerian commercial sector.