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GTBank Releases Q1 2021 Unaudited Results, Reports Profit Before Tax Of N53.7bn
Guaranty Trust Bank plc has released its unaudited Financial Results for the period ended March 31, 2021, to the Nigerian and London Stock…
Shareholders Applaud FCMB, Approve Dividend of N2.97bn at AGM
Shareholders of FCMB Group Plc (www.fcmbgroup.com) have restated their confidence in the financial institution to sustain its impressive…
Senate moves to cut cement prices
A move to cut the skyrocketing costs of cement began yesterday at the National Assembly. The Senate urged the Federal Government to introduce liberal policies to stimulate more investment in the manufacturing of…
CBN boosts non-oil export with N500 billion facility
The Central Bank of Nigeria (CBN) has set up a N500 billion non-oil export stimulation facility with the Nigerian Export Import Bank (NEXIM) to enable exporters process agriculture commodities into other markets in…
Covid sends global wine consumption to lowest level since 2002
Wine drinking worldwide fell last year to its lowest level since 2002 as bars and restaurants shut their doors and tourism travel dried up amid the coronavirus pandemic, a trade body reported Tuesday.
Overall consumption…
Coca-Cola will raise prices to offset higher commodity costs, first increase since 2018
Coca-Cola will raise prices on its drinks to combat the impact of higher commodity costs, its CEO told CNBC on Monday.
The beverage company joins a number of other consumer giants, such as Kimberly-Clark and J.M.…
Britain mulls digital currency Britcoin. It’s not Bitcoin
British finance minister Rishi Sunak told the Bank of England on Monday to look at the case for a new “Britcoin”, or central bank-backed digital currency, aimed at…
Access Bank buys BancABC of Botswana with cash
Nigeria’s Access Bank has agreed to buy a majority stake in BancABC, the African Banking Corporation of Botswana for cash.
The new acquisition comes a month after the Nigerian bank…
Foreign reserves gain $620m from remittances
After gaining $620 million from diaspora remittances in two weeks, the foreign exchange reserves jumped to $35.026 billion, a data from the Central Bank of Nigeria…
Why Shell, Chevron, other oil majors are leaving Nigeria
Fresh insights as to why the oil majors are gradually scaling down their operations and planning their exit from the country has been unraveled.
Investigation by The Nation revealed that among the oil…
Turkey bans payment with cryptocurrencies
Turkey’s central bank on Friday prohibited the use of cryptocurrencies such as bitcoin for purchases, citing transaction risks.
The ban would be effective as of April 30, the central…
CBN mulls forex ban on sugar, wheat importation
The Central Bank of Nigeria (CBN) says it is planning to include sugar and wheat on the list of import items banned from accessing foreign exchange (FX).
Godwin…
DMO lists N150b Fed Govt bonds for auction
The Debt Management Office (DMO) yesterday announced the auctioning of three Federal Government bonds of N150billion at N1,000 per unit.
Details obtained from DMO’s website said the…
‘Why we chose French firm for BUA’s 200,000bpd refinery’ – Rabiu
The Chairman/CEO, BUA Group, Abdulsamad Rabiu, said the conglomerate settled for AXENS Powering Integrated Solutions, a French firm to build its refinery because “they are one…
Make us pay agents for diaspora remittances – BDC operators tell CBN
The Association of Bureaux de Change Operators of Nigeria (ABCON) has asked the Central Bank of Nigeria (CBN) to make its members pay agents for diaspora remittances.
Aminu Gwadabe, president of ABCON, made…
Buyer of Shoprite business in Nigeria revealed
A Nigerian property company, Persianas has been revealed as the buyer of Shoprite’s local business in Nigeria.
Reuters reported this…
Promoting Digital Inclusion: The Crucial Role Of Software Testing In Achieving Fairness And…
In today’s increasingly digital world, ensuring equal access to technology for everyone is essential. As technology permeates every aspect of our lives whether in work, entertainment, healthcare, or education the need for digital…
FG May Earn N30bn from Cargo Transfer to Onitsha Port, Others
The federal government may have struck gold with the plan movement of cargo from Lagos ports to inland ports across the country especially those of the southeastern part of the country like Onitsha.
This followed the…
Nigerian Exchange lists BUA Cement’s N115bn bond
The Nigerian Exchange Limited has listed BUA Cement Plc’s N115 billion 7-Year Series 1 Fixed Rate Senior Unsecured Bond issue, the first listing in the NGX era.
The listing was commemorated with a digital Closing Gong…
We’re Losing Millions Of Dollars To Sell Cement In Nigeria — Dangote
Dangote Group says its cement is cheaper in Nigeria than in Ghana and that it is losing dollar earnings focusing on the Nigerian market.“To ensure that we meet local demands, we had to suspend exports from our recently…
BUA’s $300m sugar refinery ready next year
BUA Group is working towards unveiling its 10,000 tons cane per day (tcb) sugar refinery in the first quarter of the year.
Senior General…
Counting on in-store transactions, Burger King berths in Nigeria
Burger King, an American quick-service restaurant (QSR) chain, has finally entered Nigeria with eye on the volume of in-store transactions that Africa’s most populous country offers.
The QSR chain will open…
FULL LIST: Dangote, Waltersmith… private refineries licensed by DPR
The Department of Petroleum Resources (DPR) has published a list of private refineries with a valid permit to operate in Nigeria.
As of March 2021, the number of valid refinery project licences stood at 23, with a…
CBN to expand borrowers’ database, orders banks to register on credit management system
The Central Bank of Nigeria (CBN) has asked all development finance institutions (DFIs), microfinance banks (MFBs), primary mortgage banks (PMBs) and…