BoI Records N39.33bn Profit In 2019, Raises $1.11 bn To Boost Operations
The Bank of Industry (BoI) says it recorded a profit before tax of N39.33 billion for the financial year ended Dec. 31, 2019. The bank said the profit represented a growth of 7.2 per cent...
IMF Executive Board Approves Framework For New Round Of Bilateral Borrowing Arrangements
The International Monetary Fund (IMF) Executive Board has approved a framework for a new round of bilateral borrowing by the IMF from Jan. 1, 2021. According to a statement issued by the Fund in Washington...
NERC Suspends Increase In Electricity Tariff Till July
The Nigerian Electricity Regulatory Commission (NERC) has postponed the take-off of the new electricity tariff by the Electricity Distribution Companies (DisCos) which had been scheduled to commence on April 1, 2020. This was contained in...
NSE Market Capitalisation Loses N277bn Amidst COVID-19, Weaker Oil Price
Nigerian equities market on Monday opened trading for the week with a loss of N277 billion, amidst weak sentiments in the wake of weaker oil prices and Coronavirus pandemic. Specifically, the All-Share Index (ASI) decreased...
Lockdown: Banks To Maintain Skeletal Services
President Muhammadu Buhari has granted permission to banks to maintain skeletal services during the period of lockdown imposed on some states and the Federal Capital by the Federal Government. Buhari, had during his nationwide broadcast...
COVID-19 Portends Danger, Wipes Out $8tr, Says LCCI
President of the Lagos Chamber of Commerce and Industry (LCCI), Mrs. Toki Mabogunje, has described Covid-19 as a looming catastrophe requiring urgent containment. According to her, the virus has national and global implications. In a statement,...
Ecobank Nigeria Commits N100m To COVID-19 Campaign
Ecobank Nigeria has said it will commit about N100 million to driving its national radio campaign tagged “StaySafeNigeria” as part of its corporate actions to support measures to curb the spread of the coronavirus...
NSE: Trading Remains Upbeat With 0.48% Growth
Activities on the Nigerian Stock Exchange (NSE) maintained positive trend on Friday with the indices appreciating further by 0.48 per cent. Specifically, the All-Share Index which opened at 21,757.47 inched 104.31 points or 0.48 per...
Border Closure: Task Force Seizes More Contraband In 3 Weeks
The Joint Border Operation Drill (JBOD) Sector 3 said it has seized smuggled goods worth N32.7 million so far in month of March. The Acting Coordinator of the Joint Border Operation Drill (JBOD) Sector 3,...
COVID-19: CBN Releases Guidelines For Operations Of N100bn Credit Support For Healthcare
The Central Bank of Nigeria (CBN) has released guidelines for operations of N100 billion credit support for the healthcare sector following the outbreak of COVID-19 in the country. In a circular signed by Mr. Kevin...
Stocks Fall As Nations Take Coronavirus Action
Global financial markets are set for another turbulent week as more countries take action to slow the spread of the coronavirus. London’s FTSE 100 index sank 4.4% in early trade. Asian stock markets had fallen...
COVID-19: UBA, Transcorp Postpone 2019 AGMs
United Bank for Africa (UBA) and Transcorp have announced the cancellation of their 2019 Annual General Meetings (AGMs) to prevent the spread of COVID-19. The companies stated this separate statements to their shareholders and stakeholders...
BUA Group Acquires Majority Holding In P. W. Nigeria Ltd
BUA Group has acquired majority shareholding in P.W. Nigeria Ltd., one of Nigeria’s largest construction, engineering and mining companies. Executive Chairman of BUA Group, Abdul Samad Rabiu, who disclosed the development in a statement on...
