Guinness Nigeria Plc has reported a N54.7 billion loss for the financial year ended June 30, 2024.
This was N36.5 billion higher than the N18.1 billion loss the company recorded in the corresponding period of 2023.
The loss before tax also stood at N73.6 billion.
There was also only a slight increase in total revenue from N229.4 billion in 2023 to N299.4 billion this year.
These figures were contained in the Guinness Nigeria Limited Audited Financial Statement for 2024 submitted to the Nigerian Exchange Group (NGX) on Friday.
Guinness presents its year-end financial reports every June 30.
Meanwhile, the brewery giant’s board has recommended no dividends for its shareholders.
“No dividend has been recommended by the Board of Directors for approval at the forthcoming Annual General Meeting,” the company stated in the report.
Guinness also announced a change in its board composition since the last AGM in October 2023.
It added: “There have been some changes in the Board composition since the last Annual General Meeting held on the 24th October 2023. However, the Board remains adequately resourced and well-structured to provide the requisite strategic direction for Management and general oversight for the company.”
Guinness’s parent company, Diageo Plc, recently sold its majority shares to Tolaram Plc.
By: Babajide Okeowo
The post Ahead of Toleram takeover, Guinness Nigeria records N54.7bn full-year loss appeared first on Latest Nigeria News | Top Stories from TVN.
Ahead of Toleram takeover, Guinness Nigeria records N54.7bn full-year loss
Adekunle Gold celebrates eight years in music, thanks Olamide, fans
Afrobeat sensation Adekunle Kosoko popularly known as Adekunle Gold has taken to social media to express his heartfelt appreciation to Olamide, the founder of YBNL Nation, for giving him a chance to break into the music industry.
Adekunle Gold revealed that he started his career as a graphic designer and designed the YBNL logo, which eventually led to him becoming a part of the YBNL family.
He shared his gratitude on X.com on Thursday, saying: ” “Thank you #olamide for giving that young graphic designer the chance to not only design the YBNL logo but to be a part of your family.”
Olamide responded by saying: “Fam for life”
In a separate post on Instagram, Adekunle Gold thanked his fans for changing his life eight years ago.
He shared his journey, saying he always knew he had a special gift and wanted everyone to hear it. He wrote: “All I had was a dream. I knew I had a special gift and I said to myself, ‘the world must hear this, they must know my name, these stories I have to share must mean something to people, these songs must find a home in people’s hearts.’
“8 years ago, my life changed forever! THERE IS NOTHING BETTER THAN GOLD! Thank you to all of you for believing and supporting me since Sade. All my love.”
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Buni-Yadi market explosion: ‘We’ll win battle of good over evil’ – Gov Buni
Governor Mai Mala Buni has assured that the Yobe State government will not compromise peace and security.
The governor, who was responding to the improvised explosive devices, planted at Buni-Yadi market, said the security operatives are on high alert and on top of the situation.
In a statement by his media aide, Mamman Mohammed, Governor Buni directed the State Emergency Management Agency, SEMA, to evacuate the lone casualty to the State University Teaching Hospital for treatment.
He said security operatives are carefully working on the details, including the suspects and their entry route.
Buni said there is huge progress being made in the ongoing investigation.
“We will not relent, we will not allow anyone or group to reverse the progress made in the security of our state,” he said.
He called on the people to remain vigilant and report suspicious persons and movements in their areas, saying, “Together, we will always win the battle of good over evil.”
Meanwhile, the army ordinance has successfully removed two other undetonated explosives planted in the market.
Reports indicated that, in a remarkable show of resilience, business activities continued peacefully at the Buni-Yadi weekly market.
Buni-Yadi market explosion: ‘We’ll win battle of good over evil’ – Gov Buni
Man arrested for ritual killing of friend in Osun
Police operatives in Osun have arrested a 50-year-old man for allegedly killing his friend for a money ritual in the state.
The spokesperson for the state police command, Yemisi Opalola, told journalists during the parade of criminal suspects at the command headquarters in Osogbo, that the suspect removed the victim’s throat after killing him.
She said: “On July 18, at 3:00 p.m., the Divisional Police Officer (DPO), Oke-Odo Division, Osogbo, received information that a Ghanaian man was killed by a yet-to-be-identified individual.
“Police detectives swung into action and through intelligence and investigation, one Kehinde Ganiyu, the intimate friend to the deceased was arrested.
“Ganiyu confessed to the heinous crime stating that on July 9 at about 9:00 p.m., he went to the deceased’s residence with a knife and met him sleeping because he was sick.
“The suspect said he slaughtered the deceased with the kitchen knife and removed his throat.
“He added further that, he dried the throat for three days before he took it to a bush called Igbo Imese Aiwosi Area located at Oba-Oke village where he burnt it in a clay pot with some ritual materials and later mixed the burnt powder with soap for money ritual (OSOLE).”
Opalola said the suspect confessed that he singlehandedly carried out the operation, adding that the investigation was still ongoing on the matter.
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Naira sheds N6 to trade N1,609/$1 at official window
The naira slumped again against the American dollar on Friday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency shed N6 to close the week at N1,609/$1, up N1,603/$1 it traded on Thursday.
The intra-day high and low recorded during the day were N1,615/$1 and N1,476/$1 respectively, representing a lean spread of N139$1.
The naira gained N5 against the dollar at the parallel section of the foreign exchange market to trade N1,595|$1, as against N1,600/$1 it traded the previous day.
The naira also gained N15 against the British Pound to trade N2,060£1 as against the previous N2,075£1.
The Canadian dollar continues to close flat against the naira to trade N1,200| CA$1.
The naira also gained N30 against the Euro to trade ₦1,670/€1 as against the previous day’s ₦1,700/€1.
By: Babajide Okeowo
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Aug 1 protest: ‘Submit your details’ — IGP Egbetokun orders organisers
The Inspector General of Police, Kayode Egbetokun, has told the planners of the August 1–10 protests to submit their details to the commissioners of police in their respective states.
He spoke while addressing journalists in Abuja on Friday.
IGP Egbetokun’s demand comes hours after human rights activist Ebun-Olu Adegboruwa notified the police and Department of State Services, DSS, requesting protection for a group known as Take It Back Movement.
Egbetokun, however, said it is important for intending protesters to provide their details to the commissioners of police in their respective states to ensure the protest was peaceful.
Egbetokun said: “We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest.
“However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place.
“To facilitate a successful and incident-free protest, they should please provide the following information: state the proposed protest routes and assembly points; expected duration of the protest; and names and contact details of protest leaders and organisers.”
Earlier, DSS, in a statement on Thursday claimed to have uncovered plans by some plotters to hijack the planned protest.
“The plotters desire to use the intended violent outcome to smear the federal and sub-national governments, make them unpopular and pit them against the masses,” DSS spokesman Peter Afunanya said.
Aug 1 protest: ‘Submit your details’ — IGP Egbetokun orders organisers
White women raise $2m in Zoom meeting for VP Kamala Harris
More than 164,000 white women gathered online on Friday and raised nearly $2 million for American vice president and presidential hopeful Kamala Harris.
Dubbed ‘White Women: Answer the Call,’ the occasion became the largest Zoom meeting in history
The event, which rallied women across America to support Harris, featured notable personalities, among them pop star Pink and actress Connie Britton, who spoke passionately about Harris’s qualifications and the importance of supporting her campaign.
Prominent activist Shannon Watts, who organised the meeting, noted that it was the first Zoom call ever to surpass 100,000 participants and announced that grassroots donations soared past the $1 million mark within the first hour and eventually got close to $2 million.
The event’s success extended beyond Zoom when the platform experienced glitches due to the high volume of participants, prompting many to switch to YouTube to keep watching the live stream.
The event’s success has been described as a testament to the collective impact that women can make in politics.
“150k white women on #AnswerTheCall to support a woman of colour. There are no words to describe what I’ve been feeling the past few days. I thought seeing Obama get elected was the highlight of my life, but I was wrong. This is history,” an X user remarked.
Kamala Harris has the biracial identity of being born to an Indian mother and a Jamaican father, both of whom immigrated to the US, where Harris was born on October 20, 1964.
White women raise $2m in Zoom meeting for VP Kamala Harris
UN seeks return to civilian rule in Niger, Mali, others
The Deputy Secretary-General of the United Nations, Amina Mohammed, on Friday, met with President Bola Tinubu at the Aso Rock Villa, to debrief him on efforts to restore constitutional rule in some West African countries that recently fell to military rule.
She called for a return to constitutional rule in the affected nations—Niger, Mali, Burkina Faso and Guinea.
The civilian governments in Burkina Faso and Mali and Niger fell to military control in May 2021, September 2022 and July 2023, respectively.
Consequently, the Economic Community of West African States announced economic sanctions that isolated the three states alongside Guinea, where the military took over in September 2021.
However, some of these sanctions were relaxed in February 2024.
On July 6, Niger’s General Abdourahmane Tchiani, Burkina Faso’s Captain Ibrahim Traore, and Mali’s Colonel Assimi Goita signed a confederation treaty which, they said, would strengthen a mutual defence pact announced last September, the Alliance of Sahel States.
After the meeting, Mohammed told journalists that aside from debriefing the President on the proposals he had earlier made to keep the dialogue going forward as the Chairman of the ECOWAS Authority, they also evaluated emerging challenges.
She added that they also considered the possibility of engendering economic development for the countries so citizens do not suffer.
“My visit here was to see Mr. President and to give him a debrief on the visit of myself and delegation within West Africa, Senegal, Guinea Conakry, Mali, Niger and Burkina Faso.
“We also went to Ethiopia on a finance mission. We were able to debrief on the proposals that he had made to try to keep the dialogue going for some of the states that we have challenges with.
“But at the same time, we also looked for the possibilities to include more economic development so that the people don’t suffer at the same time,” the former Nigerian environment minister stated.
However, she clarified that the UN is not negotiating on behalf of ECOWAS but is only supporting the subregion.
Asked whether the global body was negotiating on behalf of the bloc, she said: “Absolutely not! The UN does not negotiate on behalf of ECOWAS; what it does is to support the leadership of ECOWAS, and that’s why we came here to debrief the President.”
On the UN’s communication with the countries, the DSG said: “Well, what we are telling these countries is that a number of them have a crisis. They have unconstitutional changes, and what they must do is come back to a transition and a process of democracy.
“On the other hand, they have to look also at the development paradigm for their people there is terrorism. But there’s also a need to look at jobs, food security, and energy. All those also have to continue.
“Now, if they can display a roadmap that gives everyone some confidence that there is a return to democratic rule, then they will find the support. I believe that in ECOWAS, we are a family. Regional Integration is at the heart of it. It is what these countries have said. And the proposal by ECOWAS in its last meeting to have President Faye of Senegal and President Faure of Togo to continue that dialogue and engagement is a good one.”
Mohammed said the countries concerned “feel that they have not had the same support of ECOWAS that they envisaged and a lack of understanding that in some cases.”
Nonetheless, they resolved to forge ahead with their Alliance of Sahel States, stating their priorities.
She enumerated those priorities: “First was security and the fight against terrorism. The second was investments they were looking for in certain areas like food security and job creation for their young people.”
Improper waste disposal: Group raises alarm over possible disease outbreak in Kogi
The Renaissance Care and Empowerment Foundation, RECEF, has expressed deep concern about the deteriorating state of cleanliness and waste management in Kogi State, particularly in Lokoja, the state capital.
In a statement sent to TVN on Friday, the Executive Director of RECEF, Idris Ozovehe Muraina, noted that despite efforts such as the launch of “Operation Clean the City” earlier this year by the Commissioner for Environment and Ecological Management, the situation has only worsened, putting the health and well-being of residents at risk.
According to Muraina: “The streets from Lokongoma down to the New Market/NATACO axis are now overrun with unremoved waste, turning our once vibrant city into a breeding ground for diseases and environmental hazards.
“In fact, the dumpsite somewhere around the Felele area of Lokoja, close to the Federal University permanent site, is wearing a new, dangerous look. What was once envisioned as “Operation Clean the City” now seems to have transformed into “Operation Prepare for Cholera” as filth continues to accumulate unchecked.
“We are calling on the Honourable Commissioner of Environment and Ecological Management, as well as the management of the Kogi State Waste Management Board, to urgently wake up to their responsibilities and take decisive action to address this pressing issue.
“The current state of affairs is unacceptable and poses a significant threat to public health and the environment. It is imperative that immediate steps are taken to clean up our streets, properly manage waste, and restore the cleanliness and beauty of our city.”
He urged the authorities responsible for waste management in the state to redouble their efforts, implement effective strategies, and engage with relevant stakeholders to tackle this challenge head-on.
He explained that RECEF Nigeria stands ready to support and collaborate with the government and relevant agencies in any way possible to ensure a cleaner, healthier, and more sustainable environment for all residents of Kogi State.
Improper waste disposal: Group raises alarm over possible disease outbreak in Kogi
Makinde pays tribute to deceased Ibadan airport GM, Adedeji
Oyo State Governor, Seyi Makinde, on Friday, expressed his condolences to the family of the late General Manager of Ibadan Airport, Alakia, Ibadan, Adedeji Ojo.
Makinde, in a statement by his Special Adviser on Media, Suleiman Olanrewaju, in Ibadan, lauded the late GM’s contributions to the development of the aviation industry in the state and Nigeria, saying his death has created a vacuum.
In a tribute read by his Chief of Staff, Segun Ogunwuyi, at the night of tributes and service of songs, held in honour of the late GM, at Ibadan Airport, the governor prayed to God to grant repose to the soul of Ojo while also granting his family the fortitude to bear the irreparable loss.
He said, “May the soul of our brother rest in perfect peace. The exit was untimely but we will always remember him because he contributed his portion to the development of the aviation industry in the state and Nigeria.
“I pray for strength for the entire family to bear the irreparable loss. Sleep well, dear brother.”
Speaking on behalf of the family, son of the deceased, Afolabi Ojo appreciated the governor for the state government’s support as they bid their father farewell.
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