Business
Afriland Properties Grows Revenue to ₦4.07bn, Assets Rise to ₦65bn
L-R: Olubunmi Akinremi, Independent Non-Executive Director; Ayodeji Adigun, Non-Executive Director; Agatha Obiekwugo, Non-Executive Director ; Azubike Emodi, Managing Director/Chief Executive Officer; Emmanuel Nnorom, Chairman, Board of Directors; Omomene Obanor, Company Secretary; Olukayode Odebiyi, Executive Director; Owen Omogiafo, Non-Executive Director; and Obong Idiong, Non-Executive Director, all of Afriland Properties Plc at the company’s 13th Annual General Meeting held today.
Afriland Properties Plc, a leading real estate development and management company, has announced its audited financial results for the year ended December 31, 2025, showcasing strong revenue growth, an expanded asset base, and sustained shareholder returns.
The results were presented to shareholders at the Company’s 13th Annual General Meeting.
For the period under review, the Company recorded revenue of ₦4.07 billion, representing an 8% increase from ₦3.75 billion in 2024.
Gross profit rose to ₦3.51 billion from ₦3.13 billion in the prior year, reflecting improved operational efficiency and disciplined cost management across key business lines. Profit Before Tax stood at ₦2.60 billion, compared to ₦3.70 billion in 2024.
Demonstrating continued balance sheet strength, the Company’s total assets grew by 33% to ₦65 billion, up from ₦48 billion in 2024. Shareholders’ funds also increased to ₦36.09 billion from ₦34.93 billion in the previous year.
In line with its commitment to shareholder value, the Board of Directors proposed a total dividend payout of ₦329.7 million, representin 24 kobo per ordinary share, comprising an interim dividend of 13 kobo per share already paid and a final dividend of 11 kobo per share. The dividend was approved by shareholders at the Annual General Meeting.
Commenting on the results, Chairman of the Board, Mr. Emmanuel Nnorom, pointed out that the Company’s 2025 performance reflects resilience, sound governance, and disciplined stewardship in a demanding operating environment.
He said, “We remained focused on protecting value, strengthening our asset base, and rewarding shareholders responsibly, while positioning the business to capture future opportunities across the real estate sector.”
Also speaking on the results, Managing Director/CEO, Mr Azubike Emodi, stated that the performance underscores the strength of the Company’s operating model and future growth potential.
“Afriland continued to make progress across development, facilities management, asset enhancement, and investment activities, while maintaining a strong focus on efficiency and value creation,” he said.
He added that the Company is entering a new phase of growth, supported by ongoing and upcoming projects across Lagos, Abuja, and other strategic markets, alongside the repositioning of underutilised assets to improve yield and long-term returns.
Looking ahead, the Company remains optimistic about opportunities within Nigeria’s real estate market, particularly across residential housing and mixed-use developments and commercial real estate. Afriland Properties Plc will continue to leverage innovation, strategic partnerships, and disciplined execution to deliver sustainable growth and lasting value for stakeholders.
About Afriland Properties Plc
Afriland Properties Plc is a property management, investment, and development company offering end-to-end services across the real estate value chain.
The Company is committed to improving lives through the development, management, and maintenance of world-class real estate assets across Africa. With one of the largest land banks in Nigeria and a growing portfolio of premium assets, Afriland continues to set the standard for professionalism and excellence within Nigeria’s real estate sector.
The post Afriland Properties Grows Revenue to ₦4.07bn, Assets Rise to ₦65bn appeared first on Business Today NG.
BY SUNDAY SAMUEL The Legal Practitioners’ Privileges Committee (LPPC) has directed prominent lawyer Mike Ozekhome to stop using the title of Senior Advocate of Nigeria (SAN) pending the conclusion of disciplinary proceedings against him.
The decision was made in line with Paragraph 26(6) of the guidelines governing the award and regulation of the SAN rank. The measure will remain in force until the committee reaches a final decision on matters currently before its Disciplinary and Ethics Sub-Committee, as well as other related proceedings.
According to the LPPC, the action is intended to protect the honour, reputation and standing of the prestigious SAN designation while the issues under consideration are thoroughly examined.
As a result, Ozekhome is prohibited from portraying or identifying himself as a Senior Advocate of Nigeria until the disciplinary process is concluded.
The committee reaffirmed its dedication to promoting professionalism, ethical conduct and accountability within the legal profession, stressing the need to preserve public trust in the SAN institution.
Ozekhome was elevated to the rank of Senior Advocate of Nigeria in 2010, joining a group of 19 distinguished legal practitioners admitted to the Inner Bar that year.
The post LPPC Bars Ozekhome from Using SAN Title Amid Ongoing Ethics Review appeared first on Business Today NG.
Jaiz Bank Plc paid N530.9 million in regulatory penalties in 2025, almost twelve times the N45 million it paid in 2024, according to its 2025 annual report, which detailed sanctions imposed by regulators during the year.
The bank was sanctioned by the Central Bank of Nigeria (CBN) and the Nigerian Exchange Group (NGX) for breaches ranging from anti-money laundering and customer due diligence requirements to filing infractions.
According to the annual report, the largest penalties were two separate fines of N131 million each for violations of the CBN’s Customer Due Diligence Regulations in 2025.
In 2025, the bank breached the CBN’s AML/CFT/CPF Regulations 2022, resulting in total penalties of N156 million.
The lender was also sanctioned for contraventions of the Customer Due Diligence Regulations 2023, resulting in penalties totalling N262 million, while breaches of the Targeted Financial Sanctions Guidelines 2022 led to a N75 million fine.
Additional penalties arose from violations of Sections 50 and 19 of the Banks and Other Financial Institutions Act (BOFIA) 2020, resulting in combined sanctions of N22 million.
The report further disclosed penalties of N15.9 million imposed by the NGX for late filing obligations.
2024 penalties
Meanwhile, in 2024, Jaiz Bank paid a total of N45 million in regulatory penalties for breaches of foreign exchange regulations, corporate governance requirements, electronic payment guidelines, and the provisions of BOFIA 2020.
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According to the bank’s annual report, the largest penalty, N20 million, was imposed for a contravention of Section 29(5) of BOFIA 2020. Another N10 million fine was paid for violating Section 25(4) of the same Act.
CBN also sanctioned the non-interest lender for breaches of its foreign exchange regulations. The bank paid N4 million for contravening Memorandum 8(1) of the CBN Foreign Exchange Manual and an additional N2 million for violating Memorandum 5, Section 3(a)(i) and (ii) of the manual.
Jaiz Bank further incurred a N5 million penalty for breaching Section 1.5(g) of the CBN Guideline on Operations of Electronic Payment Channels in Nigeria.
The bank also paid N2 million for failing to comply with a CBN circular on the Business Standards and Development Assurance (BSDA) Directive and another N2 million for contravening the CBN Guidelines on the Governance of Advisory Committees of Experts for Non-Interest Financial Institutions.
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