In another unprecedented performance, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2023, showing exceptional and impressive performance across all its major indicators. The 2023 financials, filed by the Bank...
BUSINESS
The World Bank has projected that growth will rebound in African economies from 2.6 per cent in 2023 to 3.4 per cent in 2024 and 3.8 per cent in 2025. This is contained in a statement issued by the World Bank on its latest Africa’s Pulse Report released...
Zenith Bank Plc has said its total assets grew to N20.368 billion for the year ended Dec. 31, 2023. The Company Secretary of Zenith Bank, Mr Michael Otu, said this in the bank’s audited results for the year ended Dec. 31, 2023 sent to the Nigerian Exchange Ltd....
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned bank customers to desist from using foreign currency as collateral for Naira loans. The CBN Acting Director, Banking Supervision Department, Adetona Adedeji, gave the warning in a statement on Monday, in Abuja. Adedeji said that...
The Central Bank of Nigeria (CBN) has approved daily sales of 10,000 dollars to 1,588 eligible Bureau De Change operators at the rate of N1,101 to the dollar. The Director, Trade and Exchange Department of the CBN, W.J Kanya said this in a letter addressed to the President,...
Ethiopian Airlines Group, Africa’s largest airline group, has marked its 78th anniversary, highlighting a legacy of resilience and innovation since 1946. Group Chief Executive Officer Mr. Mesfin Tassew and Chief Commercial Officer Mr. Lemma Yadecha accompanied the crew on a flight to Cairo, marking the airline’s inaugural international...
Companies from Rwanda, China and many others across the states are currently participating in the ongoing 35th Enugu International Trade Fair. Chief Odeiga Jideonwo, President of Enugu Chamber of Commerce, Industry Mining and Agriculture (ECCIMA), told the News Agency of Nigeria (NAN) on Sunday in Enugu that the...
…an excerpt from The Rise of Gas: From Gaslink to the Decade of Gas by Charles Osezua The Rise of Gas (From Gaslink to the Decade of Gas) by Engr. Charles Osezua will be formally presented to the public on April 9, 2024. It was a balmy Wednesday...
The Naira on Friday strengthened at the official market, trading at N1,251.05 to a dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N4.02. This represents a 0.32 per cent...
Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Charles Odii, has expressed the Federal Government’s readiness to remove obstacles hindering the growth of Small and Medium Enterprises (SMEs). Odii, in a statement, said the mandate is in line with President Bola Tinubu’s Renewed Hope economic...
MTN has announced the commencement of the season 2 MTN Champs Nigeria’s premier Schools’ Athletics Championships from Friday to Monday, April 8, with 2,600 athletes. The General Manager, Segment and Devices, MTN, Mr Idowu Adesokan, said this at a news conference on Thursday in Ibadan. Adesokan said...
The Naira gained at the official market as it traded at N1,255.07 to a dollar on Thursday. Data from the official trading platform of the FMDQ revealed that the Naira gained N7.78. This represents a 0.62 per cent appreciation when compared to the previous day’s trading on Wednesday,...
Arik Air on Thursday said its leaving of its passengers stranded at the Port Harcourt Airport on March 2 was unintentional and due to bad weather. This is contained in a statement signed by Mr Adebanji Ola, Public Relations/Communications Manager of the airline, on Thursday in Lagos. According...
Transcorp Power Plc (“Transcorp Power” or the “Company”), one of the power subsidiaries of Nigeria’s leading listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), has released its audited financial statements for the year ended December 31, 2023. The Company reported gross earnings of N142.1 billion for the 12 months,...
On Feb. 6, 2024, the Anglo-French oil and gas company Perenco announced that it had appointed a new CEO to replace the incumbent Benoît de la Fouchardière, who has served in this capacity for the last eight years. In a press release, London-headquartered Perenco noted that de la Fouchardière...
Sell-offs in the shares of Tier-one banks on Thursday contributed to a 0.32 per cent decline in the Nigerian Exchange Ltd. (NGX) market indices. Specifically, losses in the share prices of FBN Holdings, Access Corporation, Guaranty Trust Holding Company (GTCO), Zenith Bank and StanbicIBTC Bank, among others, dragged...
Naira gained further at the official market, trading at N1,262.85 to a dollar on Wednesday. Data from the official trading platform of the FMDQ revealed that the Naira gained N15.73. This represents a 1.23 per cent appreciation when compared to the previous day’s trading on Tuesday, exchanging at N1,278.58...
A fresh round of squabbles is rocking the board of First Bank of Nigeria, a development shareholders fear poses major threat to the bid by the first generation financial institution to strengthen its capital base in line with the recent directive of the Central Bank of Nigeria, CBN, to...
Component Lead, Enabling Environment Nigerian Energy Support Programme (NESP), Mr Joshua Yari, has said Nigeria has invested 48 million Euros in the second phase of its Energy Support Programme. Yari said this on Wednesday at a one-day Energy Summit, organised by Energy Commission of Nigeria (ECN) in collaboration...
The Nigeria Customs Service (NCS) says it generated more than N1.3 trillion revenue in the first quarter of 2024. The Comptroller General (C-G) of NCS, Adewale Adeniyi, made the disclosure while briefing newsmen on its activities in the first quarter of 2024, on Wednesday in Abuja. “The...