Eight firms have declared N918.1bn as currency revaluation loss following a 68.55 percent decline in the value of the naira against the dollar as of the end of September 2023. Following a Central Bank of Nigeria move in June to allow the market to determine the value of the local[Read More…]
Business
Firstbank To Reward Customers With N170m In Promo
FirstBank of Nigeria Limited has launched its “Win Big” promo which will see the lender rewarding several new and existing customers with a total cash reward of N170 million. According to a press release, the four-month promo, which started on October 23, 2023, will run till February 23, 2023. The[Read More…]
NCC Underscores Role Of ICT In Fighting Financial Crimes
Nigerian Communications Commission (NCC) says effective application of Information and Communication Technology (ICT) is critical in combating financial crimes by enabling real-time surveillance, regulatory compliance, and secure data processing, just as it sought a multidisciplinary and multi-stakeholder collaborations to address issue of illicit financial flows in the country. Executive Vice[Read More…]
Dangote pan African operations fetch Nigeria $687,977m
The management of Dangote Industries Limited (DIL), has reported that Nigeria has received $687,977 million from its pan-African activities. The company reported that it has so far repatriated around $576.009 million through several Nigerian banks, in addition to a $111.968 million cash swap deal between Dangote Cement Plc and Ethiopian[Read More…]
Omale Omale restates commitment to transformation of power, transport sector
Benue State Commissioner for Transport and Power, Barr Omale Omale, has reaffirmed the commitment of Benue State government to transforming the power and transport sectors to address the critical needs of the people. Omale, who made this known while speaking to journalists recently in Makurdi disclosed that Governor Hyacinth Alia[Read More…]
Stanbic IBTC bank now private liability company
Stanbic IBTC Holdings Plc has announced that its banking subsidiary, Stanbic IBTC Bank, has been re-registered as a private company limited by shares. The announcement was made in a corporate notice filed with the Nigerian Exchange Limited on Tuesday. The notice signed by the Company’s Secretary, Chidi Okezie, revealed that[Read More…]
Tourism and Technology Summit Africa 2023: Shaping the Future of Travel and Hospitality in Africa
The highly anticipated Tourism and Technology Summit Africa is set to take place on October 27, 2023, at the Oriental Hotel in Lagos, Nigeria. This groundbreaking event will bring together industry leaders, innovators, and experts to explore the dynamic intersection of tourism and technology in shaping the future of travel[Read More…]
Stanbic IBTC Pension Managers Facilitates Home Ownership for RSA Holders
Stanbic IBTC Pension Managers has paid out N1.6 billion to one hundred and fifty customers as at October 3, 2023, thus enabling them to become proud homeowners. According to a press release, this followed the implementation of approved guideline on accessing Retirement Savings Account (RSA) balance towards payment of equity[Read More…]
Stanbic IBTC earnings estimated to hit N125b
IBTC earnings has been estimated to rise to about N125.5 billion in the financial year 2023. The financial services group has seen its market valuation accelerate above N1 trillion mark in the stock market. In its update, the research unit of the Nigerian leading investment firm CardinalStone is prospecting higher[Read More…]
FIRSTBANK ENHANCES ITS FIRSTEDU LOAN SOLUTION, IMPROVES THE QUALITY OF EDUCATION
FirstBank has announced that its FirstEdu product designed to put schools at an advantage in the financing of capital projects such as the acquisition of new property, school expansion and reconstruction has been remodeled to a period of up to a maximum tenor of 48 months. Since its launch in[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]