Business

World Bank building The World Bank has disclosed that Nigeria’s constant fiscal deficit has worsened the nation’s public debt stock, with 96.3 per cent of government revenue spent on servicing debt in 2022. This was according to the Macro Poverty Outlook for Nigeria: April 2023 brief released by the bank. …

  Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its unaudited results for the first quarter ended March 31st, 2023, recording remarkable growth across all its major income lines.  The Bank’s result which was released to the Nigerian Exchange Limited (NGX)  on Thursday, April 13, 2023 showed …

  Despite the economic headwinds that characterised 2022, Dangote Sugar Refinery Plc (DSR) will pay N18.22 billion as dividends to shareholders for the year ended December 31, 2022, while also targeting the production of over 170,000 tonnes of sugar next season. The dividend payout will translate to N1.50 kobo per …

LAGOS, NIGERIA: 14th April, 2023 ALAT by Wema, Africa’s first fully digital bank, is celebrating its 6th anniversary with the launch of “Sounds of ALAT,” a boot camp and creative workshop aimed at supporting young creatives in the entertainment industry in Nigeria. The event, which will run from May 1st to May …

Dr Akinwumi Adesina AfDB President. African Development Bank (AfDB) says the African continent faces an annual GDP shortfall that could exceed 127.2 billion dollars by 2030. It stated on Friday that the shortfall would occur if current trends in climate finance flow into Africa continued. “Africa may lose as much …

  As the President Mohammadu Buhari’s administration winds down in glorious departure, mischief makers have rolled up their sleeves to drag in the mud the hard-earned credibility of Mr. Mele Kyari, the group managing director of the Nigerian National Petroleum Company Limited (NNPCL), alongside Mr. Umar Ajiya, the company’s group …

The Central Bank of Nigeria, CBN, has slammed a minimum fine of N2 million as a penalty on banks that disobey its new guidelines on the management of dormant accounts, unclaimed balances and other financial assets in financial institutions in the country. CBN defines a dormant account as a bank …

The federal government has brought a four-count charge against Seplat Energy at a federal high court in Abuja, over an alleged breach of extant provisions of the Immigration Act, 2015. Roger Brown, the company’s chief executive officer (CEO); Basil Omiyi, board chairman; Edith Onwuchekwa, company secretary/legal counsel; as well as …

Nigeria, Lagos – 13 April 2023: Following the breakthrough of the expanded air transport agreement between the United Arab Emirates and Canada, Emirates is stepping up its frequency with two additional flights per week between Dubai and Toronto. From 20th April, daily flights will operate on the busy route to serve …

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has launched its @ease Savings Challenge to encourage wallet holders to adopt a savings culture. The challenge which commenced 01 March 2023 is set to run till 08 June 2023, participants will have 100 days to save a minimum of N1,000 …