Nigeria Economy

Uba House

UBA Pays Shareholders’ N0.20 Interim Dividend, Grows Half Year Profits By 21%

Nigeria’s leading financial institution, United Bank for Africa Plc has grown its half year profit by 21 per cent as shown in its audited financial results for the period ended June 2019, showing impressive growth across key performance indices, from significant contributions from its African subsidiaries. In spite of the increasingly unpredictable environment witnessed in […]

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Red Tv

REDTV’s Red Hot Topics Goes Live… As Millennials Bare All

Following the immense success of its drama series, The Men’s Club (TMC), REDTV is about to launch its own chat show, Red Hot Topics. The show follows a panel of young people discussing current and hot topics that affect everyday life. They will openly and frankly touch on topics ranging from equality to infidelity, sex, […]

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Godwin Emefiele

CBN Rolls Out Penalties Against Banks, Others On Electronic Payments

The Central Bank of Nigeria has unveiled a new sets of sanctions against deposit money banks, mobile money operators, payment solution service providers and other financial institutions for electronic payment infractions. The CBN, on Tuesday, rolled out the ‘Regulations on Electronic Payments and Collections for Public and Private Sectors in Nigeria’, which it described as […]

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Wigwe

Access Bank Declares 25k Interim Dividend As First Post-Merger Half Year Profits Before Tax Hits N74.1bn

Access Bank Group’s maiden post merger profits audited half year results released to the Nigerian Stock Exchange (NSE), have been impressive, showing impressive digits across all indices, a feat which has led to the bank also declaring an interim dividend of 25 kobo per share to its shareholders. A breakdown of the group’s impressive performance […]

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Acting Dg Sec Mary Uduk (1)

SEC To Shareholders: Claim Your Dividends In Defunct Afribank

The Securities and Exchange Commission (SEC) has appealled to shareholders of the defunct Afribank Plc to claim their dividends. The apex regulatory authority of the Nigerian capital market, made this call as part of its investor protection programme and as well as ensure that shareholders get the benefits of investing in the capital market. According […]

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Emefiele

CBN Outlines Conditions for Floating Of Subsidiaries, SPVs by DFIs

The Central Bank of Nigeria (CBN) has unveiled conditions for the establishment and operations of subsidiaries and special purpose vehicles (SPVs) by Development Finance Institutions (DFIs). The Bank in a letter to all DFIs that was signed by its Director, Other Financial Institutions Supervision Department, Mrs. Tokunbo Martins, a copy of which was posted on […]

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Aviation

Domestic Airfare Up by 25% on Aviation Fuel Scarcity

Domestic routes airfare have been hiked by over 25 per cent by airline operators due to the scarcity of aviation fuel. ThISDAY, reports that Scarcity of aviation fuel, also known as Jet A1, has led to over 20 per cent rise in the price of the fuel, from between N180 and N200 per litre to […]

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Nbs

GDP Drops to 1.94% in Q2

Nigeria’s Gross Domestic Product (GDP) growth rate dropped to 1.94 per cent (year on year) in real terms in the second quarter of the year (Q2 2019) compared to 2.10 per cent in the preceding quarter, according to the National Bureau of Statistics (NBS). This represented a –0.16 percentage point contraction of the economy. According […]

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Fresh Attack1

Fresh Attack On Foreign Owned Businesses Sweep Through South Africa

Another wave of attacks have begun in South African, with looting and burning of businesses and properties belonging to foreigners and in the process killed three people, while another is still receiving treatment for smoke inhalation. The President of the Nigeria Union South Africa (NUSA), Adetola Olubajo, said on Monday 2nd September, that the attacks […]

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Nnpc

Nigeria Records $226 Million Oil Revenue Drop in June

Revenues from oil and gas production in June were down by 44.65 per cent, showing a drop in value of about $226.38 million between May and June 2019, data from the Nigerian National Petroleum Corporation (NNPC) have shown. NNPC, in its June 2019 monthly financial and operations report, stated that in May, the sales value […]

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Nnamdi Okonkwo

Fidelity Bank Records 16% Increase In Half Year Profits

Nigeria’s major lender, Fidelity Bank Plc has delivered a strong financial performance in its first half year ended financial year, with a record double-digit growth in key revenue while it also recorded significant traction in digital banking, despite the country’s challenging and fiercely competitive business environment. Details of the audited half-year result for the period […]

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Uba

UBA Grows Half Year Profits By 21%, Pays Shareholders N0.20 Interim Dividend

Pan African financial institution, United Bank for Africa Plc has announced impressive growth across key performance indices, following significant contributions from its African subsidiaries to the institution’s audited half year ended June 2019 financial results. In spite of the increasingly unpredictable environment witnessed in some of its countries of operations, the pan African financial institution […]

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