Business

Our attention has been drawn to the tweet making the rounds on social media on shutting down the FirstBank website following a false tweet that the Bank prevented staff from joining the ongoing protests in the country. As the largest banking institution in Nigeria, it is not unlikely that we may be seen as a target in circumstances such as ...

Allegation of AKK contract inflation is baseless, false and malicious – NNPC The Nigerian National Petroleum Corporation (NNPC) has recorded an increased trading surplus of ₦20.36billion in July 2020 compared to the ₦2.12billion surplus in June 2020 in its operations. Dr. Kennie Obateru, Group General Manager, Group Public Affairs Division of the corporation, in a release in Abuja, explained that ...

  Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2020 to the Nigerian and London Stock Exchanges. The half year result reflects GTBank’s leading position as one of the best managed financial institutions in Africa. The Bank’s loan book grew by 8.1% from ₦1.502trillion recorded as at December 2019 to ₦1.624trillion ...

L-R: Lagos State Director of National Directorate of Employment (NDE), Serena Olayebi Edward; Aro of Lekki, Chief Adewale Salawu (Representative of Onilekki of Lekki); Group Executive Director, Strategy, Capital Projects & Portfolio Development, Dangote Industries Limited, Devakumar Edwin; Chief Operations Officer, Dangote Oil Refinery Company, Giuseppe Surace; and Director Human Asset Management & Project Support, Dangote Oil Refinery Company Limited ...

A map of Nigeria Oil revenue rises 8% to N1.5trn By Babajide Komolafe The fiscal spending of the Federal Government (FG) rose by six percent, year-on-year (YoY) to N1.46 trillion in the first quarter of the year (Q1’2020) from N1.13 trillion in the corresponding period of last year. The increase in deficit spending was in spite eight percent, YoY,  increase ...

For the past 10 years, Guaranty Trust Bank plc has been at the forefront of the advocacy for people living with autism. The Bank’s Orange Ribbon Initiative has also become a major rallying point for driving awareness about Autism, campaigning against the social stigma associated with developmental disorders and helping people with autism live a full and productive life. This ...

Nigeria has started the export of 950,000 metric tones of the Liquefied Natural Gas (LNG), worth N354 billion to the global market. According to the Nigerian Port Authority, NPA’s shipping data; the product was exported through the use of 16 vessels to various ports around the world in the past few months. The data showed that Sines Port in Portugal ...

The monetary policy committee of the Central Bank of Nigeria (CBN) has announced its decision to retain the monetary policy rate (MPR) at 12.5 percent. Godwin Emefiele, governor of the apex bank, announced the committee’s decision at the end of the committee’s meeting. Cash reserve ratio (CRR) was retained at 27.5%, liquidity ratio at 30% and asymmetric corridor around the ...

National Bureau of Statistics By John Ofikhenua, Abuja The National Bureau of Statistics (NBS ) has said Consumer Price Index (CPI) that measures inflation increased by 12.56 per cent in June 2020. According to its website report titled “CPI June Report 2020, “The consumer price index, (CPI) which measures inflation increased by 12.56 percent (year-on-year) in June 2020. This is ...

To reaffirm its status as the biggest cement producer in Africa, Dangote Cement has set the pace with the exportation of 27,800 metric tonnes of clinker to a neighbouring African country. With this historic maiden voyage from its Export Terminal located in Apapa Port, Lagos weekend, Dangote has gradually made Nigeria, which until recently was one of the world’s largest ...