Nigeria’s retail lender, Unity Bank Plc has posted a Profit Before Tax of N1.1 billion for its full-year results that ended Dec 2022, even as its gross earnings rose by 13.1% to N57 billion from N50.2 billion in the corresponding period of 2021. The Bank in its audited full-year financial[Read More…]
The President of the World Bank Group, David Malpass, has warned against the parallel exchange rate, stating that it impedes foreign investment, affects the bank’s projects, as well as worsens debt problems in countries like Nigeria. In a statement reported on Thursday, Malpass said the parallel rate is also associated[Read More…]
The shareholders of one of Africa’s fastest growing companies, Sterling Bank, have commended the board of directors, executive management and staff of the bank on its remarkable financial performance for the 2022 year, resulting in a recommendation of dividends of 15 kobo per ordinary share; a fifty percent increase from[Read More…]
… Commend Partnerships and bundled investment initiatives Nigeria’s leading Retail Bank, Polaris Bank has announced the launch of its exclusive banking product aimed at serving its High Net-worth Individuals (HNIs) seeking innovative investment options in challenging economic times. The unveiling which took place in Ikoyi, Lagos, on Tuesday[Read More…]
The Central Bank of Nigeria (CBN) has debunked a report by a national daily that it has devalued the naira to N631 per dollar at the Importers and Exporters’ (I&E) window. A top official of the apex bank, who told this medium that the report is completely false , warned[Read More…]
WhiteBIT, one of the leading European cryptocurrency exchanges, has announced its official launch in Nigeria. The launch in a release, signals a significant milestone in expanding it’s global presence. According to the company, it’s decision to open a representative office in Nigeria supports its goal of making blockchain technology widely[Read More…]
A study is bullish on Nigeria’s exports in the next decade, with its exports projected to hit $127 billion by 2030. The country is expected to see a much faster than average yearly growth rate at 9.5 per cent. Agriculture and food production, the report conducted by Standard Chartered says,[Read More…]
…Over 10,000 residents to benefit from new primary healthcare centre L-R: Hon. Ayodele Thomas, Vice Chairman, Iba Local Council Development Area; High Chief Jelili Ododo, Baale of Ijeododo land; Mrs. Tolani Oshodi, Permanent Secretary, Office of Secretary to the State Government/Cabinet Office; Mrs. Folasade Jaji, Secretary to the[Read More…]
More than Eur150 million has been provided by European Investment Bank (EIB) to support various projects in Nigeria. Last year, the bank agreed to a EUR 100 million financing deal with MTN Nigeria Communications Plc (MTN Nigeria) to support the telecoms company’s network expansion programme. According to information sourced by[Read More…]
The International Monetary Fund (IMF) has advised central banks in Europe to sustain interest rate hike until inflation is defeated. In a report entitled: Working in Concert to Defeat Inflation, Director, European Department, IMF, Alfred Kammer said policymakers were facing a multifaceted challenge: to defeat inflation, while safeguarding financial stability[Read More…]
