Full Year 2023: UBA’s profit hits N758bn, a record 277 per cent increase …Bank declares N2.30k final dividend to shareholders United Bank for Africa (UBA) Plc has released its audited financial results for the full year ended December 31, 2023, recording a laudable profit before tax (PBT) of[Read More…]
CBN bans use of foreign currency as collateral for naira loans The Central Bank of Nigeria (CBN) has directed all banks to stop the use of foreign currency-denominated collaterals for naira loans. Adetona Adedeji, acting director of the banking supervision department at CBN, disclosed this in a statement on[Read More…]
FCMB Funds ReelFruit’s Plant To Promote Sustainable Manufacturing First City Monument Bank (FCMB) has financed the newly inaugurated dried fruit manufacturing plant of Nature’s Bounty Health Products Limited(ReelFruit) in Abeokuta, Ogun State to promote sustainable manufacturing practice in the country. Sustainable manufacturing minimises negative environmental impact while conserving energy and[Read More…]
Emefiele Arrives Court For Arraignment On Fresh Charges The immediate-past governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has arrived at the Lagos State High Court in Ikeja for his arraignment over alleged abuse of office. Emefiele, alongside Henry Isioma Omole, will be arraigned on fresh 26 counts[Read More…]
Labour Party urges FG to reconsider Electricity Tariff hike The Labour Party (LP) has called on the Federal Government to reconsider its decision to hike the tariff payable by some electricity consumers in the country. Mrs Olubunmi Odesanya, Lagos State Publicity Secretary of the party, made the call in[Read More…]
Obazee submits final investigative report on Emefiele, to Tinubu President Bola Tinubu has commended Jim Obazee for his services as a special investigator as he concludes his probe on the activities of the Central Bank of Nigeria (CBN) and related entities. In July 2023, Tinubu appointed Obazee, former[Read More…]
Wife of detained Binance executive writes Nigeria Government to release husband Yuki Gambaryan, Wife of the detained Binance Holdings Limited executive, Tigran Gambaryan, Binance’s head of financial crime compliance, has pleaded with the Nigerian government release her husband. Mrs Gambaryan, in a letter to the Nigerian government on[Read More…]
NERC fines Abuja DisCo ₦200m for tariff order violation The Nigerian Electricity Regulatory Commission (NERC) has slammed Abuja Electricity Distribution Plc (AEDC) with a fine of ₦200 million for failing to adhere to its tariff guidelines, creating a stir among consumers and industry stakeholders alike. The fine comes in[Read More…]
NERC says new tariff will reduce electricity subsidy by N1.14 Following the approval of new increased electricity tariff on Wednesday, the Nigerian Electricity Regulatory Commission (NERC) has said it is expected to reduce subsidy for the 2024 fiscal year by about N1.14 trillion. In a statement on Wednesday,[Read More…]
Diesel price drops as Dangote sells N1,225/litre, supplies petrol May The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by[Read More…]
