archiveOctober 2016

The Board of Directors of Nigerian Breweries Plc has announced an interim dividend of N7.929 billion, that is N1.00 (One Naira) per Ordinary Share of 50 kobo in the share capital of the company for the nine-month period ended 30th September 2016. This is despite the marginal decline in the...

First Bank of Nigeria Holdings Plc grew total assets to N5.1 trillion in nine months ended September, 27 per cent from N4.2 trillion in December, 2015. The growth in total assets was driven by customer deposits that gained nearly 11 per cent to N3.3trillion from N2.97 trillion in 2015 while...

The Minister of Finance, Mrs. Kemi Adeosun on Wednesday told the visiting Director, African Department of the International Monetary Fund (IMF), Mr. Abebe Aemro Selassie that the Federal Government was leaving no stone unturned in its bid to make infrastructure development a priority. Taking the visiting IMF chief through some...

The Senate Committee on Customs and Excise has commenced a probe into the activities of the Nigerian Customs Service (NCS) in order to block all revenue leakages. It was learnt that the committee would look into ways of increasing revenue generation capacity. The Chairman of the Committee, Sen. Hope Uzodimma,...

Union Bank Plc has declared 39.3 per cent increase in profit after tax to N13 billion in nine month period ended September 2016 from N9 billion in September 2015. The bank in its report to the Nigerian Stock Exchange (NSE) said its profit before tax grew by 39 per cent...

The Nigerian Stock Exchange All Share Index (NSE ASI) and the Market Capitalization increased by 0.08 per cent on Wednesday while the Year-to-Date return stood at -5.31 per cent, as investors managed to recoup only N7 billion out  of much they have lost of recent. The All Share Index closed...

Despite its earlier proposal to amend the act establishing the Joint Admissions and Matriculation Board (JAMB), the Nigerian Senate has suspended the idea to allow for adequate consultation with experts. A statement issued in Abuja on Wednesday by spokesperson of JAMB, Dr. Fabian Benjamin, said the Chairman, Senate Committee on...

Nigeria's naira hit its weakest level on the black market in more than a week at 460 to the dollar on Wednesday, as a central bank move to channel dollars to retail currency outlets failed to ease liquidity shortages, traders said. According to Reuters’ report monitored by Business247 News Online,...

The World Bank has came out with its Ease of Doing Business index for 2017 which shows that Nigeria moved up by one point from 170th position in 2016 to 169th in 2017, out of 190 countries. The facts are contained in the World Bank’s Ease of Doing Business report...

The Minister of Industry, Trade and Investment, Okechukwu Enelamah, has assured Nigerians that the recession will not last beyond early next year as they will soon begin to see the effort of President Buhari’s administration yielding expected good fruits. The minister made the remark while speaking at the 8th Session...