archiveJuly 2016

  Eyes N35bn new capital in second half Sterling Bank Plc showed steadiness and improved the intrinsic fundamentals of its businesses in the first half of this year as the Nigerian economy and the banking industry struggled with fiscal and monetary challenges that saw inflation and foreign exchange at their...

First City Monument Bank Group (FCMB) Plc has announced an impressive unaudited result and accounts for Half year (H1) ended June 30, 2016 with 89 per cent increase in Profit After Tax (PAT). The group reported that its PAT moved to N15.7 billion in H1 2016 from N8.3 billion in...

It was rain of accolades for the outgoing Group Managing Director/CEO of United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza in Lagos during the week as captains of industry and leading voices of Nigerian society witnessed the launch of a book in his honour. The  book titled  “Dynamics of...

Dangote Sugar Refinery has announced a profit before tax (PBT) of N11.1 billion for the six months ended 30 June, 2016.  The unaudited results for the half year indicated that all performance measurement indices trended upwards. According to the results, profit before tax rose by 13.3 per cent compared to...

In order to provide an avenue for offering knowledge to financial institutions in respect of the area of maritime law and practice, with particular focus on the ‘ship arrest procedure’, Olisa Agbakoba Legal (OAL), a leading law firm in Lagos and highly steeped in the field of maritime law and...

Market transactions on the Nigerian Stock Exchange (NSE) closed the week on negative note as investors recorded a loss of N2 billion as the Market Capitalisation closed the week at N9.631 trillion as against N9.633 trillion on Thursday even the All-Share Index closed on Friday at 28,042.99 from 28,046.96 on...

How to create robust pension benefits for retirees would be the focus in the 2015 Nigerian Insurance and Pension (Inspen) Awards. A statement by the Chief Executive Office Inspen Media, Chuks Udo Okonta, and made available to Business247 News Online said experts drawn from insurance and pension sectors would be...

Continental Reinsurance Plc has reported a Profit Before Tax (PBT) of N2.92billion in its 2015 financial year, up from N1.59 billion the previous year, an increase of 84%. A statement from the firm and made available to Business247 News Online added that its gross premium income was N19.7 billion, up...

With decline in revenue and foreign exchange losses, Seplat Petroleum Development Company Plc, has announced a N12.8 billion loss for the half year (H1 2016) ended June 30, 2016 unaudited  results. The indigenous oil and Gas Company listed on both the Nigerian Stock Exchange and London Stock Exchange, had reported...

The National Insurance Commission (NAICOM) has approved the 2015 financial statements of 42 out of 44 insurance companies that have so far submitted their accounts for approval, Business247 News Online learnt today. While few of the firms whose accounts were approved had already done their Annual General Meetings, AGMs, others...