Business

Minister of Finance, Mrs. Kemi Adeosun, receiving her Merit Award from the President of the Institute of Chartered Accountants of Nigeria, Alhaji Isma’ila Muhammadu Zakari, during the Institute’s Merit Award Night at the Eko Hotel and Suites, Victoria Island, Lagos recently…

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Wema Bank PLC has announced a 5.02% growth in earnings for Q1’2018 to N16.07 billion, from N15.28 billion in Q1’2017. According to the Bank, the increase was supported by a 21.07% growth in non-interest income to N3.43 billion (Q1’2017; N2.83 billion), led by a 424.77% growth in net trading income. Profit before Tax (PBT) grew to N0.88 billion (Q1’2017; N0.85 billion), notwithstanding the increase in impairment charges …

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Pan- African financial Institution, United Bank for Africa Plc, last thursday,  ended its annual Group Chairman’s Forum, a platform for group integration, re-strategising and knowledge sharing with the overall aim of puting the bank on firm standing to actualize its goals and targets for the financial year. The theme of this year’s forum was focused on three main areas:  ‘Efficient …

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Five quarters in a row, Oando Plc has sustained its trend of posting positive results. The company has once again boosted shareholders confidence by publishing N19.8bn profit after tax in its twelve months ended December 31, 2017 financial results. This is coming on the ills of the challenging environment that ensued after the company’s 2014 Full Year loss including a …

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…As Shareholders Approves 10 kobo Dividend …Improves 2018 First Quarter Earnings  Controversies on Friday trails the 5th Annual General Meeting of First City Monument Bank Plc as Shareholders sharp disagreement which lasted for 45 minutes over election into the Audit Committee of the bank and non-receipt of gift items brought the meeting to a halt. Trouble yesterday started when the …

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The World Bank Thursday projected that oil prices would average $65 a barrel in 2018, up from an average of $53 a barrel in 2017. Meanwhile, OPAC Refinery in Kwale, Delta State, will come on stream in the third quarter of 2018 as the Department of Petroleum Resources (DPR) has granted it requisite approvals — Approval to Relocate Plant (ARP) and Approval to Construct (ATC) plant …

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Nigerian Breweries Plc has announced 9 percent drop in revenue from N91.3 billion in 2017 to N83.0 billion in first quarter ended March 31, 2018. Profit after tax also came down by 11.8 percent to N10.2 billion for the quarter from N11.4 billion recorded in the corresponding period in 2017. The brewer stated that “while there are some signs of …

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Lagos State Government said its investment drive has brought the state well over $43billion worth of investment proposals in the three years of Governor Akinwunmi Ambode’s administration. The Special Adviser, Office of Overseas Affairs and Investment (Lagos Global), Professor Ademola Abass, who made this known in Lagos on Thursday during the agency’s press briefing to mark Ambode’s third year in …

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Diamond Bank Plc has signed a share sale and purchase agreement with a member of GFG Alliance, for the disposal of its entire shareholding in its international subsidiary, Diamond Bank (UK) Plc. The disposal was in line with the bank’s objective of streamlining its operations to focus resources on the significant opportunities in the Nigerian retail banking market. The transaction …

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The Transmission Company of Nigeria ((TCN), on Wednesday warned about the imminence of another system collapse as a result of the volume of idle power waiting for evacuation. It advised electricity Distribution Companies (DisCos) to recapitalise to boost their capacity, lamenting that despite its existing capacity, load rejection from the DisCos, which causes high frequency and system collapse could still …

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