News

The Federal Government has declared Monday, May 1, 2017 as public holiday to commemorate the 2017 Workers’ Day celebration.  The Minister of  Interior, Lt Gen. Abdulrahman Dambazau (retd.) made the declaration on behalf of the Federal Government in a statement on Friday by the Director, Office of the Permanent Secretary, Ministry of Interior, Alhaji Muhammadu Maccido. He congratulated Nigerian workers for their …

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The Nigerian Stock Exchange (NSE) and London Stock Exchange Group (LSEG) have announced the renewal of their strategic capital markets partnership agreement at the NSE office in Lagos on Thursday. The renewal extends the original 2 year partnership agreement between the NSE and LSEG, allowing the two Exchanges to build on the progress achieved to date. First signed in November …

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Access Bank Plc has reported an impressive first quarter profits raising hopes among investors about the Bank’s determination to be the world’s most respected African bank. The Bank’s unaudited financial results for the first quarter (Q1) ended March 31, 2017 showed an increase of 38% in Profit before Tax, which rose to N31.2 billion when compared to ₦22.6 billion in …

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The Central Bank of Nigeria (CBN), Director of banking  supervision, Ahmed Abdullah on Thursday disclosed that the bankers committee of the apex bank at the end of its 32nd meeting in Lagos resolved to be contributing 5 percent of their profit after tax toward supporting the agricultural sector. Addressing pressmen, Abdullah, who spoke alongside, the managing director of Access Bank …

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The Nigerian Extractive Industries Transparency Initiative on Thursday said it had commenced a comprehensive independent audit of the nation’s oil and gas sector that would cover the periods of 2015 and 2016. The Executive Secretary of NEITI, Mr Waziri Adio, announced this in Lagos at a workshop organised for major oil companies in Nigeria. Adio said that the independent audit …

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As part of its re-engineering effort and coming from a loss position in 2016, Ecobank transnational incorporated (ETI) has announced 15 per cent increase in profit after tax to N18.7 billion for the first quarter (Q1) ended March 2017. The financial institution in the first quarter of 2016 posted N16.2 billion profit after tax. Ecobank had announced a loss before …

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Guinness Nigeria Plc has recorded a nine-month pre-tax loss of N2.46 billion. The company raked in a revenue of N89.87 billion for nine months ending March 2017 as against N69.62 billion recorded a year ago. It posted a loss of N2.46 billion loss in nine months as against a profit of N1.20 billion a year ago. However, the results detail …

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The National Commissioner, Independent National Electoral Commission, Dr Adekunle Ogunmola, has officially flagged-off the Continuous Voters’ Registration in Lagos State. The event was held on Thursday in Lagos at the INEC office in Surulere Local Government Area. It marked the commencement of CVR exercise nationwide. Ogunmola, the Supervisory National Commissioner in charge of Ondo, Ogun and Lagos States, urged leaders …

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Finland’s telecoms giant Nokia reported Thursday that it remained deep in the red at the start of the year, with sales in its main business, networks, on the decline. The company posted a loss of 488 million euros ($532 million) in the first quarter, an improvement from the 609 million euros a year earlier, prompting chief executive Rajeev Suri to …

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Nigeria has lost about $235bn worth of investments on the back of the failure to reform the oil and gas industry, even as the Federal Government struggles to pay up over $9bn cash call arrears to oil firms. Oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria and National Union of Petroleum and …

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