archiveOctober 2016

Guaranty Trust Bank plc has released its audited financial results for the nine-month ended September 2016 to the Nigerian Stock Exchange with profit before tax gaining 53 per cent to N140 billion from N92.1 billion recorded in prior nine-month of 2015. Interest income for the period grew by 5.2 per...

Nigerian independent petroleum company, Nipco Investment limited, a wholly-owned subsidiary of Nipco Plc has acquired 60 per cent stake in Mobil Nigeria. Mobil Oil Nigeria in a statement to The Nigerian Stock Exchange (NSE) on Wednesday said that majority shareholders of ExxonMobil Oil Corporation agreed to sell its 60 per...

Financial experts in the country have been reacting to the news from International Monetary Fund (IMF) that Nigeria economy still remains the biggest in Africa. It will be recalled that the recent estimates by the IMF has shown that Nigeria remains the biggest economy in Africa, followed by South Africa...

Nigeria's overnight interbank rate crashed on Wednesday to around 20 percent from 150 per cent after the Central Bank of Nigeria (CBN) sold less hard currency than expected at a special auction, traders said. According to Reuters’ report monitored by Business247 News Online, "The Central Bank f Nigeria has released...

A socio-cultural organisation, Niger Delta Peace and Justice Movement, on Wednesday berated the governorship candidate of the All Progressives Congress (APC) in the last election in Bayelsa State, Timipre Sylva, accusing him of playing games with the judiciary. The group said Sylva was notorious of playing politics with the judiciary,...

Lagos State Governor, Mr Akinwunmi Ambode on Wednesday effected a reshuffle of his cabinet, with the dropping of the Commissioners for Tourism- Mr Folorunsho Folarin-Coker; Finance, Dr. Mustapha Akinkunmi and Transportation, Dr. Ekundayo Mobereola. This development comes exactly one year after the Governor constituted his Executive Council, precisely on October...

Technology evolves every day, thus it is important to stay updated. While young Nigerians who were born during the outbreak of modern technology have no problems keeping abreast and coping with the complexities and intricacies of modern technology as well as the internet, their parents, on the other hand, who...

Stanbic IBTC Pension Managers Limited said it has paid over N200 billion to retirees since it commenced operations in 2005. It added that in its 12 years of existence, the Pension Fund Administrator (PFA) has over one million Retirement Savings Account (RSA) holders and assets under management in excess of...

Nigeria is in talks with the investment arm of Saudi Arabia-based Islamic Development Bank (IDB) about issuing the country’s first sukuk as the country looks to diversify its sources of funding. “We are engaged in discussions with Nigeria,” Khaled al-Aboodi, Chief Executive Officer of the Islamic Corporation for the Development...

First Bank Nigeria to offer loans at 20% interest to buy cars Uber plans to double driver-partners by year-end from 2,000 Uber Technologies Inc. is partnering with FBN Holdings Plc’s First Bank Nigeria to provide loans to drivers as a cash crunch in Africa’s most populous nation and a shrinking...