The Central Bank of Nigeria (CBN) has decided, in the interim, to keep the minimum loan-to-deposit (LDR) ratio for commercial and merchant banks at 65 per cent. The apex bank based its decision on what it described as a significant increase in credit to the private sector. It stated this in a letter to all […]
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Nigeria’s economy has been predicted to witness 2.1 percent growth in 2020, by the World Bank as the world body said that growth in the West African Economic and Monetary Union is expected to stabilise at 6.4 percent. The bank made the prediction in its January 2020 Global Economic Prospects which was released on Wednesday. […]
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The Tony Elumelu Foundation (TEF) has said that it has opened its application portal for applications from African entrepreneurs across all African countries, for the 2020 cohort of the Tony Elumelu Entrepreneurship Programme. In 2019, 3,050 African entrepreneurs benefited from the Programme, a number which will meaningfully increase in 2020. The TEF Entrepreneurship Programme is […]
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United Bank for Africa Plc (UBA) has announced the appointment of Oliver Alawuba as its new CEO of UBA Africa, overseeing the bank’s 20 African country operations, ex-Nigeria. He succeeds Victor Osadolor, who retires from the Group Board, after 9 years of service working at UBA. UBA Africa serves over 19 million customers across the […]
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African richest man Aliko Dangote has significantly moved up in the World billionaires’ list as he emerged 96th richest person in the world, with an estimated worth of $14.8 billion, as against his previous ranking of 103rd in the world. Dangote, who remains the richest man in Africa for the 8th year running, was the […]
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Nigeria’s Government has disclosed its intentions to disconnect Niger Republic and Togo’s power supply if they fail to pay their outstanding $16 million debts. This was disclosed by the Managing Director of the Transmission Company of Nigeria, Usman Mohammed, who revealed that the initial debts were as high as $100 million. “When I took over […]
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The Nigerian Minister of Agriculture and Rural Development, Sabo Nanono, has said the Federal Government’s closure of the country’s border does not in any way breach the free trade agreement in the West African sub-region. The minister said on Sunday 15, December in Abuja that the measure was meant to protect the country and its […]
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Eminent Banker and Founder of The Tony Elumelu Foundation (TEF) , will be conferred with the National Productivity Order of Merit (NPOM) Award by the President of the Federal Republic of Nigeria, H.E. Muhammadu Buhari, GCFR in recognition of his continuous hard work and total commitment to the empowerment of youths in Nigeria and Africa. […]
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Giant financial Institution, United Bank for Africa Plc got double honours on Sunday 10, November, as it emerged the Bank of the year 2019; while its Group Managing Director/Chief Executive Officer, Mr. Kennedy Uzoka, also emerged CEO of the year at the Business Hallmark Newspaper Awards, held at the Civic Centre in Lagos. Uzoka beat […]
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The Senate President, Dr Ahmad Lawan, has promised that the report of the 2020 budget proposal presented to the National Assembly by President Muhammadu Buhari on October 8 will be ready by November 26, . Lawan, who spoke at plenary on Tuesday, expressed hope that the Appropriation Committees of the two chambers would be ready […]
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Major financial institution, United Bank for Africa (UBA) Plc, and global airline, British Airways have announced a collaboration to reward loyal customers who are cardholders of the Bank. The promo which will last for six months from November 2019, will witness UBA customers getting significant discounts when they purchase their British Airways tickets using their […]
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Nigeria’s wholly conglomerate, Transnational Corporation of Nigeria Plc (“Transcorp”) has announced a Profit Before Tax (PBT) of N7.36bn for the third quarter ended 30 September 2019. Highlights of the results also showed that the group recorded a gross revenue of N58.28bn and a total assets increased from N297.14bn as of FY 2018 to N313.07bn representing […]
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