archiveJuly 2016

The Nigerian naira took a dive on Thursday at both parallel and official markets, becoming the worst performing currency in Africa in 2016. Bloomberg data reveals that the naira which began trading at 283 to the dollar at the interbank market on Thursday, depreciated to 284/$1 to become the third...

As the economic crunch continues to bite harder in the country, most insured Nigerians have resolved to be paying their premiums on monthly, quarterly and bi-annually, at least, until the economic position improves. Business 247 Online News findings show that insurance premiums of underwriting firms fell by 30 per cent...

The Nigeria Liquefied Natural Gas (NLNG) Limited has appointed Mr Tony Attah as its new Managing Director and Chief Executive Officer, according to a statement Mr Kudo Eresia-Eke, NLNG’s General Manager, External Relations on Thursday. Attah takes over from Mr Babs Omotowa, who had held sway in the organisation since...

  as UBA stock now best performing on the exchange Fitch Ratings, one of the foremost global rating agencies, has affirmed United Bank for Africa (UBA) Plc’s viability rating at “B”, as the pan-African banking group continue to sustain its benchmark asset quality and strong profitability amidst industry and macroeconomic...

The Minister of Finance, Mrs. Kemi Adeosun, has assured Nigerians that the Federal Government’s drive for enhanced revenue generation would not be a burden to Nigerians. The Minister, who spoke at the opening of the two-day National Revenue Retreat 2016 in Kano, on Thursday, said the administration of President Mohammadu...

By ABDUL-KHALIQ OLALEKAN The former Managing Director of Nigeria Agricultural Insurance Corporation (NAIC).Mr. Olabode Opadokun, is now the new Managing Director/Chief Executive Officer of FBN General Insurance Limited. The insurance firm, who confirmed his appointment at a media briefing to unveil the new helmsman in Lagos today, said he resumes...

Guaranty Trust Bank remains one of the top two rated Banks in Nigeria as shown by the recently released Rating Report by Fitch, a global rating agency. Fitch revised the Outlook on the Bank’s Long term Issuer Default Rating (IDR) from Negative toStable citing the Bank’s continuing strong earnings and...

Investors on the Nigerian Stock Exchange (NSE) on Thursday traded 203.58 million shares valued at N2.49 billion in 3,805 deals as against 190.30 million shares worth N2.34 billion traded in 4,578 deals on Wednesday. The most traded stock of the day was FBN Holdings which traded 32.91 million shares valued...

Indigenous flight operator, Dana Air has kicked off daily flights from Lagos to Owerri with an introductory online fare of N12,600 for a one-way ticket. The Manager of Dana Air, Mr. Obi Mbanuzuo in a chat with journalists in Lagos, said the carrier is committed to providing safe, reliable and...

FirstBank of Nigeria Limited is targeting to grow its customer base by over 10 million new customers in the next three years. The expansion is in sync with the bank’s financial inclusion initiative. Managing Director and CEO, FirstBank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan, who disclosed this in...