UBA records 13% earnings growth, N111bn profit
United Bank for Africa Plc, UBA, has announced its audited results for the full-year ended December 2019, recording impressive growth…
Consolidated Hallmark opens N1.05bn rights issue
Consolidated Hallmark Insurance says it has received the approval of regulators to raise an additional sum of N1.05bn to increase…
World Bank’s IFC partners Nigerian bank to boost trade with $40 million
With local businesses often complaining about the availability of credit, Coronation Merchant Bank and International Finance Corporation, an arm of World Bank, have partnered…
IFRS 17: Insurers should develop business plan — NAICOM
The National Insurance Commission, NAICOM, has charged insurance companies to develop business plan in preparation for transition to IFRS 17…
We’re committed to curbing ponzi schemes – SEC
The Securities and Exchnage Commission has reaffirmed its commitment to ensuring that illegal fund managers in the country are not…
Investment Alert: The FGN Savings Bond is now open for subscription
The Federal Government of Nigeria, through the Debt Management Office (DMO), yesterday announced the opening of the March Savings Bond Offers. According…
Petrol subsidy cost drops 22.5%
The Federal Government, through the Nigerian National Petroleum Corporation, NNPC, paid N43.09 billion as subsidy on Premium Motor Spirit, PMS,…
GTBank posts N198.85bn profit, declares N2.50 final dividend
Guaranty Bank Trust Plc has declared a profit after tax of N196.85bn for the financial year ended December 31, 2019…
DisCos earn N473 billion in 2019, reveal reason for metering gap
A report by the Association of Nigerian Electricity Distributors has shown that the Distribution Companies (DisCos) in Nigeria recorded 8% growth in…
CBN prioritises economic stability with Obiora as the new DG policy directorate
Dr. Kingsley Isitua Obiora, yesterday, in Abuja, formally assumed office as Deputy Governor of the Central Bank of Nigeria (CBN),…
Investors lose N208bn as stock market declines further
The equities market on Monday extended downward trend to seven consecutive trading days as investors continued to sell-down amidst the…
International Breweries records 100% Rights issue subscription, raises N165bn
INTERNATIONAL Breweries Plc has recorded 100 percent subscription in its recently concluded Rights Issue. The company raised N165 billion on…
10-year Treasury yield drops to another record below 1.04% as historic fall in yields continues
The 10-year Treasury yield dropped to another record low on Monday below 1.04% as the historic decline in yields continued…
CBN Reports Slow Economic Activities In February
Business activity, production level, new orders, supplier delivery time, employment level and raw materials inventories grew at a slower rate…
Naira falls N413 to dollar at forward market
The naira on Friday depreciated past N400 to dollar at the forward market after Nigeria recorded its first case of…
Forex: Turnover in I&E up by 46% to $8.2bn in Feb
THE volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market grew by…
Stock market down by 4.28%, highest in 47 weeks
Nigerian stocks suffered the highest weekly loss since April 2019 as sell pressure dominated market activities on increasing regulatory pressures…
FG policies on palm oil industry fail
THERE are indications that the government’s policies on palm oil industry have failed with leading companies in the industry recording…
Fidelity Bank rewards customers with N68m in GAIM 4
FIDELITY Bank said it has so far rewarded its customers with N68 million in its ongoing Get Alert in Millions…
It’s unpatriotic to sell rice above N15,000 – Minister
The Minister of Agriculture and Rural Development, Alhaji Muhammad Nanono, has said it is unpatriotic for rice producers to sell…
Coronation Merchant Bank, IFC partner on N14.4bn facility
Coronation Merchant Bank said it partnered with International Finance Corporation to launch an N14.4bn Trade Finance Guarantee facility to boost…
Firstbank wins 2019 oil and gas banker award
FIRST Bank of Nigeria Limited was recently presented with the Oil and Gas Banker of the Year 2019 award at…
Gas supply from Nigeria to Ghana, others resumes
The West African Gas Pipeline Company Limited has said it is resuming its supply of natural gas from Nigeria to…
Coronavirus: Stakeholders worry about surveillance at Nigeria’s international airports
Following the announcement of the first case of coronavirus in Nigeria, aviation experts have called for better surveillance at all…
CORONAVIRUS: Oil price drops below Nigeria’s 2020 budget benchmark
Nigeria’s budget estimate appears threatened as oil price drops $5 below the 2020 benchmark on global fears over the impact…
Olam’s pilot farming project to boost tomato value chain
Olam Nigeria’s Vice President in charge of Farming Initiatives, Reji George, has disclosed that preliminary results from its pilots farming project…
Total Is Said to Bid for Stake in $7.4 Billion U.K. Wind Farm
French oil company Total SA is among the final bidders for a stake in an offshore wind farm that may…
It was a hellish week to be a billionaire
It was a bad day to be a billionaire. As stocks plummeted worldwide Monday on coronavirus fears, the 10 richest people in…
Africa May Only See Impact of New Free-Trade Deal After 3 Years
The real impact of commerce under a Pan-African deal to establish the world’s largest free-trade area will probably only be…
Citadel, BlackRock, and D1 Capital are racking up hundreds of millions in gains as coronavirus fears tank airlines, cruises, and movie-theater stocks
What might end up being the worst week for stocks in over a decade hurt a little less for some…