archiveJuly 2016

Union Bank of Nigeria (UBN) has announced an impressive unaudited result and accounts for half year ended June 30, 2016 with profit before tax gaining 21 per cent from N6.6 billion in first half 2015 to N8.6 billion in H1 2016. The group profit after tax also increased by 36...

United Kingdom Trade & Investment (UKTI) Envoy to Nigeria, Prime Minister, John Howell, has said, that the nation’s capital market is endowed with great opportunities despite the challenges Africa economy is facing. With the nation’s capital market vibrant, he said that United Kingdom was keen at doing business with companies...

Investors in equities on the Nigerian Stock Exchange (NSE) managed a gain of N9 billion on Wednesday as against huge gains of N108 billion they made on Tuesday. The Market Capitalisation of the Exchange which closed at N9.597 trillion on Wednesday and All-Share Index at 27,945.02 basis points rose to...

The Nigerian National Petroleum Corporation (NNPC) has said that Nigeria’s oil production is now 700,000 barrels per day (bpd) lower as a result of persistent militant attacks on oil pipelines and infrastructure. With average production usually around 2.2 million bpd, meaning that Nigeria’s oil production currently stands at 1.5 million...

Naira weakened to an all-time low of 334.50 against the dollar on the interbank market on Wednesday, a day after the central bank hiked interest rates to try to lure foreign investors back into local assets, traders said. A report from Reuters monitored by Reuters said. The naira fell 5.8...

As Nigeria economy continued to battled naira devaluation, Caverton Offshore Support Group Plc has warned investors that its profit for the half year ended June, 2016 would drop as the company recorded huge losses arising largely from dollar dominated borrowing. The leading provider of marine, aviation and logistics services to...

The federal government as well as states and local government councils across the nation have been reminded of the effectiveness of using experiential marketing, citizen engagement and community relations to market government policies to the citizenry. These three marketing elements were stressed at the just concluded third annual general meeting...

In furtherance of its continued support for sports and commitment to youth development in Nigeria, Chi Limited recently participated in the finals of the just concluded Lagos state principal’s cup. Renowned to be one of the biggest grassroots football competitions in Nigeria, the tournament comprises inter-secondary school soccer amongst schools...

Shareholders of insurance firms across the country are unhappy that their companies continue to pay monetary fines running into several millions of Naira, on yearly basis, to the regulators for violating account submission deadline or other infractions, even, when it is obvious the affected companies have yet to declare dividend...

First Bank of Nigeria (FBN) Holdings Plc is at the brink of a major credit crisis as its Non Performing Loans (NPLs) hit 22 per cent in half year ended June 30, 2016 from 4.1 per cent recorded in half year of 2015. Apex banking regulating body, Central Bank of...