Business

About $813m funds belonging to foreign airlines that were trapped in Nigeria since June 2023 had been cleared but the Central Bank of Nigeria still has $19m outstanding balance to settle, the International Air Transport Association said. The Director-General of IATA, Willie Walsh, confirmed the status of trapped funds in …

The apex said the action was an exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020 and was to promote a sound financial system in the country. The Central Bank of Nigeria has revoked the banking licence of Heritage Bank Plc with immediate …

A Court of Appeal sitting in Abuja has dismissed AIICO Insurance Plc’s appeal against a policy holder, Mr. Gboyega Bello, and awarded N500,000 in his favour as a cost of legal process. The court upheld the judgment of the High Court of the Federal Capital Territory, given by Justice M.E. Anenih in …

May data pointed to a pick-up in growth in the Nigerian private sector, with both output and new orders increasing at sharper rates than in April. Rates of expansion remained slower than the respective series averages, however, as high prices continued to limit demand. That said, there were further signs …

Zenith Bank Plc has been named the “Most Sustainable Bank, Nigeria” in the International Banker 2024 Banking Awards, retaining the title for the second consecutive year. Commenting on the award, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, said: “We are deeply honoured to …

Investors in Fidelity Bank Plc have earned more than 507 per cent in capital gains over the past five years, ranking above all other major return benchmarks at the Nigerian stock market and the entire banking sector. Trading reports at the Nigerian stock market for the five-year period between May …

              Africa’s Global bank, United Bank for Africa (UBA) Plc, joined the rest of the world on Friday, May 24, 2024, to mark this year’s edition of the Africa Day.   The celebration which went on concurrently across all of its subsidiaries in Africa …

  FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023. The Q1 2024 results was a reflection of 2023 impressive performance as …

The Glo-sponsored African Voices Changemakers on global TV channel, CNN will this week parade two designers as it throws its spotlight on fashion icons in Nigeria.   The 30-minute magazine programme will feature the duo of Dumebi Andrea Iyamah, with label name, Andrea Iyamah, and Ruth Erikan James, whose label is Veeke James.   Founder and …

  Zenith Bank Plc, on Thursday, 30th May 2024, launched a state-of-the-art digital/LED screen at Ajose Adeogun Roundabout, solidifying its commitment to innovation and community engagement. The monumental digital installation, an upgrade from its previous LED screen launched in 2013 at the same location, features a resolution of 3936×960 pixels …