Business

The Federal government has approved N64.108 billion for additional work on 43 kilometres’ part of section one of the Lagos-Ibadan expressway. Minister of Power, Works and Housing Babatunde Fashola, who spoke with reporters after about six hours’ FEC meeting chaired by President Muhammadu Buhari at the Presidential Villa, Abuja, said it was part of the N68.6 billion approved for roads …

Read More »

Access Bank Plc has released its unaudited financial results for the first quarter (Q1) ended March 31, 2018 showing an increase of 19% in gross earnings to N137.5 billion from N116 billion in the corresponding period of March 2017, with interest income and non-interest income contributing 70% and 30% respectively. The Bank recorded a Profit before Tax (PBT) of N27.4 …

Read More »

… Share Price Went Down Wednesday By 5.22% Investors failed to compensate the share price of FBN Holding Plc on Wednesday April 25, 2018, despite the company improved performance both at the top and bottom line, as the group share price went down by 5.22 percent to close at 12.7 kobo. This is contrary to market operators’ expectation whom have …

Read More »

Shareholders of Access Bank Plc on Wednesday applauded the bank’s 65 kobo dividend paid on return on their investment, even as they commend the board on the N4 trillion mark achieved on the bank balance sheet. The shareholders noted that growth strategy instituted by the bank in 2013 to 2017 and the current five years strategic corporate growth plan in …

Read More »

United Bank for Africa Group (UBA) has released its unaudited first quarter results, showing significant growth across major income lines.  Following a sterling performance in the 2017 financial year, UBA Group delivered another impressive 18% percent year-on-year growth in gross earnings in the first three months of 2018. Leveraging on strong growth in both interest and non-interest income, UBA grew …

Read More »

As part of its new focus on the Youth segment and further to the launch of UNiFi product, the Bank’s new Youth and Digital Banking initiative, Unity Bank Plc recently rewarded the creativity of three young people. These recipients referred to as Unifiers demonstrated their innovativeness and distinguished themselves in an online competition. The UniFiers initiative was conceived as part …

Read More »

Nigeria and other African countries are losing more than $50 billion per annum to illicit financial flows, the African Development Bank has said. The Senior Director, Nigeria, AfDB, Ebrima Faal, said this at the opening of a workshop on the role of the parliament in combating illicit financial flows from the continent. Faal noted that the parliament had a primary …

Read More »

The Federal Inland Revenue Service generated a total of N1.17 trillion in the first quarter of this year from the collection of various taxes, according to a document in the possession of our correspondent. This was a significant rise over the N778.19 billion recorded in the corresponding period of 2017. According to a letter written by the Executive Chairman of …

Read More »

The Central Bank of Nigeria (CBN) on Tuesday continued its intervention in the inter-bank sector of the Foreign Exchange market, injecting $210 million in the wholesale segment and other sectors of the market. Details of the intervention showed about $100 million went to the wholesale sector of the market, while the small and medium enterprises (SMEs) and invisibles sectors received …

Read More »

The Securities and Exchange Commission (SEC) recently hosted the first Capital Market Committee (CMC) Meeting in Lagos, where how to deepen the equities market, regulate it as well as protect investors where discussed, FRIDAY EKEOBA who was there brings some of the high points of the meeting; Excerpt. The CMC over the past 18 years has proven to be an important platform that …

Read More »