Business

  Steep price pressures acted to limit the pace of growth in the Nigerian private sector in July. Overall input costs rose at a pace unsurpassed in more than nine-and-a-half years of data collection, with selling prices up rapidly in response. Rising price pressures impacted demand, with growth of both new orders and business activity …

It is no longer news that most Nigerians are experiencing severe economic hardship due to the recent FX policy and subsidy removal. The economic challenges arising from the opening up of the foreign exchange market and the removal of petrol subsidies have resulted in soaring inflation and a significant drop …

According to The Will newspaper, investors have commended the recent reclassification of Fidelity Bank Plc stock from small price stock to medium price stock. Giving his perspective on the development, Mr Boniface Okezie, the National Co-ordinator, Progressive Shareholders Association of Nigeria, commented, “Fidelity Bank has paid its dues in the …

The sudden resignation of Olu Akanmu as the Chief Executive Officer of OPay has continued to brew concerns in several quarters. It was reported that Olu Akanmu, a financial industrial veteran announced his resignation on Monday morning via his official Twitter handle calling for a need to do more to …

A coalition of Civil Society Organizations (CSOs) on Sunday said it has uncovered fresh plot by embittered oil thieves to blackmail, smear and tarnish the image of the group chief executive officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari. The CSOs, consisting of 42 different organizations, …

For a third year running, Zenith Bank Plc has been named the Best Commercial Bank in Nigeria at the World Finance Banking Awards 2023. The bank also emerged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards 2023, retaining the award for a second consecutive …

Press release – Lagos, July 29, 2023 : Nestlé Nigeria PLC has announced a revenue of N 261.8 billion in the first half of 2023, an 17.7% increase compared to its performance in the same period of 2022. Gross profit is N 107.3 billion, an 34% increase over 80,205 earned …

WemaBank announces its unaudited results for Half Year ended 30th June 2023. The commercial bank achieved improved performance including Gross Earnings of ₦89.09bn, a y/y increase of 49% (H1 2022: ₦59.59bn). Interest Income up 53% y/y to ₦76.11bn (H1 2022: ₦49.75bn). Non-Interest Income up 32% y/y to ₦12.98bn (H1 2022: …

Adaora Umeoji Dr. Adaora Umeoji, has been reappointed by the board of Zenith Bank Plc as the lender’s deputy managing director. The announcement was made in a notice filed with the Nigerian Exchange Limited (NGX) on Friday. The re-engagement is effective August 2, 2023. The notice said that the Central …

  By Femi Aderotimi The historic payment of interim dividend by the Nigerian National Petroleum Company Limited into the Federation Account less than three months into the stoppage of payment for fuel subsidy by the Federal Government has proven that Mallam Mele Kyari, the Group Chief Executive Officer (GCEO) of …