馃嚦馃嚞NigeriaWest Africa
CAP shareholders approve N4.00 per share dividend payout
via Punch Nigeria9 min read
Chemical and Allied Products Plc shareholders have approved a final dividend of N4.00 per 50 kobo ordinary share for the financial year ended December 31, 2025. This represents a 67 percent increase over the previous year, with a total payout of N3.26bn. The approval occurred at the company's 61st Annual General Meeting in Lagos, where shareholders also endorsed the Board鈥檚 strategic direction. This record dividend follows a year of strong financial performance, with revenue increasing by 23 percent to N44.9bn from N36.4bn in 2024. Gross profit grew by 32 percent to N19.4bn, and profit before tax rose 51 percent to N9.1bn from N6.1bn in the prior year. Chairman of the Board, Fola Aiyesimoju, noted that the performance reflects the company鈥檚 strategic foundations and commitment to consistent shareholder returns, despite a demanding operating environment in Nigeria. Outgoing Managing Director, Bolarin Okunowo, highlighted the expansion of their retail network to 152 stores and an expanded product offering. Shareholders commended the leadership and welcomed Lekan Aluko as the incoming Managing Director.
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This summary was AI-generated from a story originally published by Punch Nigeria.
The Economic and Financial Crimes Commission is preparing to arraign Jimoh Yisawu, former Managing Director of Warri Refining and Petrochemical Company Ltd, and Ahmed Dikko, former Managing Director of Port Harcourt Refining Company Ltd, on separate money laundering charges. Both cases are before Justice Inyang Ekwo of the Federal High Court, Abuja. Yisawu faces eight charges, including alleged conversions of $789,950 and $122,600, and receiving N25,563,000 from a contractor. He is also accused of making cash payments exceeding N5,000,000 without using a financial institution, transferring N65,860,000 to purchase treasury bills, and retaining N15,000,000 and N3,000,000 from a contractor. Dikko faces 12 counts, including allegations of indirectly making a cash payment of the dollar equivalent of N218,375,000 for property purchase without a financial institution, retaining N100,000,000 and N90,000,000 from a contractor, and disguising the origin of N90,000,000 through an account operated by Aisha Ahmed Dikko. He is also accused of disguising the origin of N328,710,337.50 from transactions involving NNPC Limited allocation of Vacuum Gas Oil for export, taking possession of N59,200,000, procuring Ebenezar Oluwagbemiga to take possession of N356,412,500 on his behalf, converting $77,080, and using his son鈥檚 account to control N20,000,000. The alleged offenses contravene various sections of the Money Laundering Prevention and Prohibition Act, 2022, and the Money Laundering Prohibit
Airtel Africa Plc decreased its diesel consumption by 9.1 million litres in its 2025/2026 financial year, moving towards lower-carbon energy sources and reducing its environmental impact. This reduction, partly achieved by converting 390 infrastructure sites to on-grid power, is estimated to save between N12.8bn and N13.2bn based on December 2025 diesel prices in Nigeria. Airtel Africa Chief Executive Officer, Sunil Taldar, shared these figures in Lusaka, Zambia, highlighting the company's sustainability efforts. The telecommunications operator, which offers mobile and financial services in 14 African countries, emphasizes responsible growth, aiming to balance business expansion with environmental responsibility, digital inclusion, and socio-economic development. In addition to cutting diesel use, Airtel Africa recycled 94 percent of its waste generated during the year. The company's network now covers 81.9 percent of the population across its markets. Its mobile money business, Airtel Money, serves 54.1 million customers through 2.4 million agents, with women making up 44.1 percent of these customers. The Airtel Africa Foundation invested $6.2 million in programs for financial inclusion, education, environmental sustainability, and digital inclusion. Through a partnership with UNICEF, 3,296 schools gained free internet access, benefiting over two million learners and 38,868 teachers. Furthermore, 64 zero-rated digital learning platforms provided free educational content to m
Mrs. Olubunmi Kuku, the Managing Director of the Federal Airports Authority of Nigeria FAAN, has advised state governments against initiating airport projects without thorough economic and feasibility assessments. She highlighted that less than 10 percent of Nigerians currently travel by air, with approximately 17.5 million air travelers recorded in 2025 out of a population of 220 million. Kuku emphasized that building and maintaining airports requires substantial financial commitment beyond just terminal construction, including runways, firefighting equipment, and trained aviation security personnel to meet global standards. She urged states to consider the economic viability of such projects and to actively create economic activities like sporting events, manufacturing, agriculture, or cargo operations to generate passenger and cargo traffic. While acknowledging that some airport projects are justified by security and accessibility concerns, Kuku stressed the importance of also strengthening road and rail infrastructure as part of a multimodal transportation approach. She warned that airports lacking sustainable traffic projections and supporting infrastructure could become expensive assets with limited returns.