archiveApril 29, 2020

Some financial experts have urged the federal government to use the loan approved by IMF for the purpose intended so as to help sustain the country’s economy. The experts, Mr Phil Aragbada and Mr Sola Famakinwa, disclosed this in separate interviews with the News Agency of Nigeria (NAN), in Ibadan...

The United Bank for Africa (UBA) Plc shareholders, on Wednesday, commended the bank for declaring a dividend of N34.19 billion for the financial year ended Dec. 31, 2019. The shareholders gave their commendation at the bank’s 58th and first virtual Annual General Meeting (AGM) monitored by the News Agency of...

Union Bank of Nigeria Plc on Wednesday announced gross earnings of N42.6 billion in its unaudited financial statements for the first quarter ended March 31, 2020. The gross earnings represented an increase of 18 per cent when compared with N36.1 per cent achieved in the comparative period of 2019. The...

The Central Bank of Nigeria (CBN) has resumed the sale of foreign exchange to all commercial banks for onward sales to parents to pay schools fees and operators of small and medium scale enterprises (SMEs) wishing to make essential imports needed to revamp economic activities across the country. The apex...

The Joint Unions of Tertiary Institutions of Kaduna State (JUTIKS) has rejected the deduction of 25 per cent of workers’ salaries by the state government. The union in a statement jointly signed by its Chairman, Mr Noah Danlami and the Secretary, Mr Jibril Makama in Kaduna on Wednesday, rejected the...

  Stanbic IBTC Holdings Plc recorded first quarter pre-tax profit growth of 3.8 per cent to N24.4 billion. The bank’s interim report submitted to The Nigerian Stock Exchange (NSE) shows that in the three-month period ended March 31, 2020, the bank recorded a  modest growths across key performance indicators. Gross...

The Peoples Democratic Party (PDP) has expressed concerns over the hasty approval of another loan of N850 billion for President Muhammadu Buhari’s government by the All Progressives Congress (APC)-led Senate. The party said Buhari administration’s over dependence on loans was wrecking the country’s economy and amassing huge problems for the...

The earnings of MTN Nigeria Communications Plc increased by 5.6 per cent to N51.146 billion at the end of  first quarter 2020 compared to the same period of 2019 even as its revenue recorded a growth of 16.7 per cent. This is contained in full details of the telecom’s financial...

The Economic Commission for Africa (ECA) has joined others in mourning the death of one of its most distinguished Chief Economists, Prof. Owodunni Teriba, who was buried on Tuesday in Chicago, Illinois in the United States of America. In a statement by its Communications Section on Tuesday, the United Nations...

The Executive Board of International Monetary Fund (IMF) has approved US$3.4 billion in emergency financial assistance to support Nigeria in addressing economic impact of COVID-19 shock and the sharp fall in oil prices. In a statement issued on Tuesday, the Fund said that the support, under the Rapid Financing Instrument,...