BUSINESS Archives — Page 37 of 206 — National Accord Newspaper

UBA shareholders re-elect Elumelu as Chairman

BUSINESS

UBA shareholders re-elect Elumelu as Chairman

Offor Callistus April 25, 2025

Shareholders of the United Bank for Africa (UBA) Plc have approved a final dividend of N3.00 per share for the 2024 financial year ended December 31. The final dividend and the N2.00 per share interim dividend paid in October 2024, brought the total dividend for the year to N5.00,...

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun

Nigeria safe for investment – Finance Minister

Offor Callistus April 24, 2025

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has assured investors that Nigeria is safe for investment. Edun said this at the Nigeria Investment Forum, at the ongoing World Bank/International Monetary Fund (IMF) Meetings in Washington D.C. on Wednesday. According to the Minister, efforts are geared...

UBA posts N189.84bn profit in Q1 2025

BUSINESS

UBA posts N189.84bn profit in Q1 2025

Offor Callistus April 24, 2025

United Bank for Africa (UBA) has announced a profit of N189.84 billion for the first quarter of 2025, marking a strong start to the financial year. This represents a 33.15 per cent increase compared to the N142.58 billion recorded during the same period in 2024. The bank revealed this...

IMF urges Nigeria to be prudent in spending

Offor Callistus April 24, 2025

The International Monetary Fund (IMF), has urged Nigerian Government to be prudent in spending following implementation of hard economic reforms that has made it to save more revenue. The Director, Fiscal Affairs Department IMF, Vitor Gaspar, said this at a Fiscal Monitor news conference at the ongoing 2025 IMF/World...

PenCom recovers ₦1.58bn from defaulting employers, pension assets hit ₦23tn

Offor Callistus April 23, 2025

The National Pension Commission (PenCom) has announced the recovery of ₦1.58 billion from defaulting employers through enhanced enforcement efforts. This information was shared by the Director General of PenCom, Ms Omolola Oloworaran, on Wednesday in Kano during the First Run 2025 Consultative Forum for States and the Federal Capital...

Comptroller-General (C-G) of the service, Adewale Adeniyi,

Nigeria Customs rakes in ₦1.75trn revenue in Q1 2025

Offor Callistus April 23, 2025

Nigeria Customs Service (NCS) has collected ₦1.75 trillion as revenue for the first quarter of 2025. The Comptroller-General (C-G) of the service, Adewale Adeniyi, disclosed this on Tuesday in Abuja at a press briefing on its activities for the first quarter. Adeniyi said that they exceeded their first quarter...

BUSINESS

Nigerian stock market opens bullish with N318bn gain

Offor Callistus April 23, 2025

Nigerian stock market opened the week on a bullish note on Tuesday, gaining N318 billion on the Nigerian Exchange Ltd after the two-day Easter break. Market capitalisation rose by N318 billion or 0.49 per cent, closing at N65.817 trillion compared with Thursday’s figure of N65.499 trillion. Similarly, the All-Share...

BUSINESS

IMF projects 3% economic growth for Nigeria

Offor Callistus April 23, 2025

The International Monetary Fund (IMF) has released it new economic outlook report, reversing Nigeria’s economic growth projections for 2025 and 2026. The April report was released on Tuesday during World Economic Outlook (WEO) at a press briefing at the ongoing IMF/World Bank 2025 Spring Meetings in Washington, D.C. The...

Nigeria Govt’s reforms to drive long-term economic resilience – Edun

Offor Callistus April 23, 2025

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has stated that the Federal Government’s economic reforms will foster long-term resilience aimed at lifting millions of Nigerians out of poverty. Edun said this during the ongoing International Monetary Fund (IMF)-World Bank 2025 Spring Meetings in...

BUSINESS

IMF cuts global growth forecast to 2.8% over tariff uncertainty

Offor Callistus April 22, 2025

The International Monetary Fund (IMF) on Tuesday lowered its global economic growth forecast for 2025 to 2.8 per cent. Predicting the wave of tariffs and uncertainty unleashed by U.S. President Donald Trump will lead to a worldwide economic slowdown. The IMF revised its projection of 3.3 per cent forecast...

BUSINESS

Union Bank empowers young Nigerian entrepreneurs

Offor Callistus April 19, 2025

Union Bank of Nigeria has demonstrated its commitment to homegrown businesses by sponsoring the 2025 RISE Business Challenge in the University of Lagos (UNILAG), Akoka. In a statement released by the bank on Friday, the sponsorship took place under Union Bank’s Made In Naija initiative, during the 6th Annual...

BUSINESS

MTN Nigeria rebrands fibre broadband service to fibreX

Offor Callistus April 19, 2025

MTN Nigeria, a leading technology company, on Friday announced the rebranding of its fibre broadband service to FibreX. MTN Nigeria Chief Broadband Officer, Mr Egerton Idehen, described the rebranding as a major step in delivering next-generation internet solutions across the country. Formerly known as MTN Fibre Broadband, the newly...

BUSINESS

Transactions on NGX down 23.15%, investors lose N9bn

Offor Callistus April 18, 2025

Stock market investors traded 1.525 billion shares worth N43.006 billion in 51,156 transactions this week on the floor of the Nigerian Exchange Ltd. This is in contrast to 2.094 billion shares valued at N52.967 billion that exchanged hands last week in 64,612 deals. Consequently, the value of transactions traded...

BUSINESS

Fidelity Bank bags “Nigeria’s Best Private Bank” Euromoney Award

Offor Callistus April 18, 2025

Fidelity Bank Plc has been awarded Euromoney’s 2025 Nigeria’s Best Private Bank.According to a statement by the bank on Thursday in Lagos, the recognition was formally unveiled at the awards ceremony held recently at The Savoy in London. The Euromoney Awards for Excellence are prestigious annual honors and a...

BUSINESS

NGX records N445bn loss amid mixed trading

Offor Callistus April 17, 2025

Trading on the Nigerian Exchange Ltd. (NGX) ended negatively on Wednesday, with market capitalisation falling by N445 billion after a day of positive performance. The NGX market capitalisation dropped by N445 billion, or 0.68 per cent, closing at N65.259 trillion, down from Tuesday’s N65.704 trillion. Similarly, the All-Share Index...