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In view of the this, the Board of Directors of the Company at the Board Meeting of October 17, 2018 approved that Mr. Olawale Banmore whilst continuing in its role as the Managing Director of Royal Exchange Prudential Life Plc Would also oversee the affairs of Royal Exchange Group pending the appointment of a substantive Group Managing Director.

DANGCEM published 9M 2018 results yesterday. The group has grown EBITDA by 15% and PAT by 3% in nine months. Earnings growth by the end of 2018 will be much stronger, (1) adjusting for the one-off 84% effective tax charge in Q4 17 and (2) upon receipt of approval for waivers vis-à-vis the pioneer tax incentive in Nigeria.

The National Bureau of Statistics (NBS) recently published its first-ever States’ GDP data. The maiden report profiled the Nominal GDP of 11 of the 36 States of the federation between 2013 and 2017. They are Akwa Ibom, Bayelsa, Cross River, Delta, Kaduna, Kano, Ogun, Osun, Oyo, River and Zamfara states.