UBA’s profit rose to N153bn in 2021
United Bank for Africa Plc said it recorded N153bn profit for the 2021 financial year ended December 31, 2021. This…
Category: Local
CBN plays lead role in agric to create jobs, says Emefiele
The CBN governor Godwin Emefiele has expressed satisfaction with the level of interest and the impact the agriculture sector has…
Ukraine-Russia war: Nigeria, others may face commodity supply disruptions, says IMF – Punch
The International Monetary Fund says countries that have very close economic links with Ukraine and Russia are at particular risk…
Mining, quarrying sector contributed N5.37tn to GDP in 2021’
The mining and quarrying sector recorded a total contribution of N5.37tn to the Gross Domestic Product in 2021, according to…
Mortgage rates plunge just as home prices set another record
Mortgage rates are sinking as markets contend with the ramifications of Russia’s attack on Ukraine, and that means home prices…
Naira Exchange At N578 To $1
The naira, on Wednesday, depreciated further against the dollar at the parallel section of the foreign exchange market. Bureaux…
Champion Breweries Recorded 520% Increase In Post Tax Profit
Champion Breweries Plc has released its FY 2021 results which revealed 520% growth in post-tax profit, from N159 million in…
Africa Prudential Announces Dividend Payment To Shareholders
Africa Prudential Plc has announced a dividend payment of N0.50 kobo per 50 kobo ordinary share for the financial year…
Nigeria: Market Capitalization Decreases
The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 26…
Nigeria Records 32% Foreign Direct Investments Dip In 2021
Nigeria attracted a sum of $698.78 million as foreign direct investments (FDIs) in 2021, representing its lowest level on record.…
Airbnb To Provide Free Housing For 100,000 Ukrainian Refugees
Airbnb, a home rental company, says it is offering free short-term housing to 100,000 Ukrainian refugees fleeing the Russian invasion…
Halima Dangote Appointed Non-Executive Director Of Dangote Cement
Dangote Cement Plc has appointed Halima Aliko Dangote as a non-executive director. Edward Imoedemhe, deputy company secretary of Dangote Cement,…
Walmart launches A.I.-powered virtual clothing try-on technology for online shoppers
Last May, Walmart announced its acquisition of the virtual clothing try-on startup Zeekit, which leveraged a combination of real-time image processing, computer vision,…
Gopuff officially launches its instant delivery service in France
Gopuff is expanding its service to Europe, starting with France, after launching in the United Kingdom late last year. The…
CBN to pay exporters N65 rebate for every $1 remitted
The Central Bank of Nigeria has said it will pay exporters N65 for every $1 sold into the economy through…
Uganda Government to support domestic investors in oil and gas sector
The Uganda Investment Authority, the investment arm of the country, has embarked on building the capacity of domestic investors to…
Visa and Mastercard block Russian banks from their networks after sanctions
Payment and credit card giants Visa and Mastercard have blocked Russian financial institutions from their networks in response to sanctions targeting Russia after…
Mineral Income Investment Fund Acquires 3.5 Per cent Of Asante Gold Corporation
The Mineral Income Investment Fund (MIIF) has acquired 3.5 per cent of the Asante Gold Corporation (Asante) in line with…
Wooing Intel, Italy plans $4.6 billion fund to boost chipmaking
Italy plans to set aside $4.6 billion until 2030 to boost domestic chip manufacturing. It also seeks to attract more…
Nokia stops deliveries to Russia
Nokia will stop deliveries to Russia to comply with sanctions imposed on the country following the invasion on Ukraine, the…
Uber Introduces New Features
A new Uber Explore feature will allow users to book dinner reservations, concert tickets and other events directly through the…
Nigeria ranks low in W’Bank projects’ implementation, says FG
The Nigerian FG on Tuesday disclosed plans to improve the level of implementation of donor-financed projects in the country. According…
NNPC vows to increase production as Brent crude oil hits $110/barrel
BRENT, the crude against which Nigeria’s oil is priced, crossed the $105/barrel price on Tuesday. This rose to the highest…
Nigeria signs MoU on gas supply to Equatorial Guinea
Nigeria and Equatorial Guinea on Tuesday signed a Memorandum of Understanding for the supply of gas from Nigerian offshore fields…
Buhari asks Senate to confirm MPC members
President Buhari has asked the Senate to confirm the appointment of two new members of the MPC The president also…
Lekki Deep Sea Port Is 80 Per Cent Completed – ICRC
The Infrastructure Concession Regulatory Commission debunked the report that the Lekki Deep Sea Port is 90.93% completed. It said the…
Persisting Inflation Will Limit CBN Borrowing Ability- IMF
Economists at the International Monetary Fund and World Bank have revealed that persisting inflationary pressure will limit the ability of…
Experts Bemoan Under-Representation Of Key Sectors On NGX
Apparently irked by the under-representation of some sectors in the nation’s stock market, capital market experts, at the weekend, urged…
Number Of Professional Developers In Nigeria Increased By 6 Per Cent
The number of professional developers in Nigeria increased by six per cent to hit 84,000 in 2021 as the total…
Why we’re selling Mobil Nigeria to Seplat — ExxonMobil
Texas-based major Exxon Mobil has given its reason for choosing to sell the entire shallow water assets of one of…