Business

Jaiz Bank Plc, a non-interest financial institution is targeting a profit After Tax (PAT) of N5.56 billion by the end of the 2021 financial year from the current N1.34 billion position. The bank disclosed this while addressing stockbrokers at the company’s, Facts Behind the Figures, shortly after it listed by the introduction 29.46 billion shares of 50 kobo each at …

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Dangote Rice, a subsidiary of Dangote Group is set to launch in Sokoto, Sokoto state it’s multi-million naira 25, 000 hectares of rice Outgrower scheme with a prospect of hundreds of thousands of employment opportunities for the rural communities inhabitants. President of the Group, Aliko Dangote disclosed at the weekend that the Company will on Wednesday, flag of with a …

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In spite of the gloom on the country’s economy, investor confidence in Nigeria remains high as the $1 billion Eurobond issued by the federal government on Thursday was over-subscribed by almost eight times. The over-subscription was with orders in excess of $7.8 billion compared to a pre-issuance target of $1 billion. The bond, issued under Nigeria’s newly established Global Medium …

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The Lagos Chamber of Commerce and Industry (LCCI) yesterday resounded the alarm over the damage to investor confidence and Foreign Direct Investment flow being done by the security problems in the country. Troubled by the elevated rate of violent crimes and inseurity, LCCI stressed the need for Nigeria to address the challenge speedily to make the business environment more secure …

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The naira tumbled against the United States dollar on the parallel market to 503 on Thursday, down from the 500 recorded on Wednesday. The local currency had closed at 499 and 498 on Tuesday and Monday, respectively. This came almost two weeks after the naira touched 500/dollar briefly and returned to 498/dollar. The local currency had been stable against the …

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From Left: Alhaji (Dr) Umaru Kwairanga, Director Jaiz Bank Plc;  Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Alhaji (Dr) Umaru Abdul Mutallab, Chairman, Jaiz Bank Plc ; Hassan Usman, Managing Director/CEO, Jaiz Bank Plc and Alhaji (Dr) Musbahu Basir, Director, Jaiz Bank Plc at the Facts Behind the Listing at the NSE on Thursday.

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The management of Skye Bank Plc has announced the promotion of over 300 of its employees under the 2016 annual staff performance review exercise. The promotion, which cuts across several cadres up to the managerial level, according to the bank, is in line with its effort to reward staff members who performed creditably in their various roles during the past …

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The Board of Directors of the African Development Bank has approved a US $90-million financial package comprising a US $50-million Line of Credit and US $40-million Trade Finance Line of Credit to Commercial Bank of Africa Limited (CBA), Kenya. The funding will be channeled to SMEs and local corporates in infrastructure, tradable and other transformative sector transactions in Kenya. It …

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Coronation Merchant Bank Limited (‘Coronation MB’); an emerging merchant banking franchise with industry-leading financial stability indicators has today unveiled its new corporate identity. Far more than just a logo, the new corporate identity has been designed to communicate Coronation MB’s vision (to be Africa’s premier investment bank), ambition and inner strength. The lion, a core feature in the design, is …

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The ratio of non-performing loans in the banking industry  have doubled the threshold at 11.7 percent, the experts at the Guarantee Trust Bank (GTB) has said in their 2017 Economy Outlook. The outlook titled: Macroeconomic and Banking Sector Themes for 2017 said the banking industry has been plagued by declining asset quality in the wake of the decline in crude …

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