Rising from a lower profit margin of N10.2billion and a debilitating Non-Performing Loan portfolio of 45 per cent in 2015, to an impressive profit of N147billion and a significantly lowered NPL rate of 5.6 per cent in 2022, FirstBank has proven that its back-to-back profit-making is far beyond recoveries made, but[Read More…]
Business
CNBC AFRICA INTERVIEW WITH MR OLUSEYE OLUSOGA, MD/CEO OF PARTHIAN PARTNERS LIMITED ON *NIGERIAN ECONOMIC REFORMS AND EXCHANGE RATE UNIFICATION*
*CNBC Africa: What would it take for Nigeria to successfully unify exchange rates. This is one of the priorities for Nigeria’s President, Bola Tinubu.* Seye Olusoga: Unifying exchange rates is a difficult task that must be done and would require a lot of courage to achieve. An attempt to unify[Read More…]
Firstbank Sponsors Timeless Concert by Davido
The much-anticipated timeless concert by David “Davido” Adeleke, unarguably one of Nigeria’s biggest music exports of all time, was an electrifying music showpiece that further reiterated the lofty height and growth that has defined the Nigerian Music industry in recent years as Nigeria’s premier banking giant, FirstBank once again, threw[Read More…]
SMEs Account for the Majority of Business Enterprises Globally – BOI CEO
The Managing Director/Chief Executive Officer of the Bank Of Industry, Okukayode Pitan has said that, Globally, SMEs account for the majority of business enterprises by contributing to production output, exports, and boosting innovation, which represents hallmarks of economic growth in most economies contributing between 40-55% of GDP and 50-80% of[Read More…]
CBN Charges African Regulators to Avoid Bank Failure
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has called on the governors of Central Banks and other African financial sector regulators to be more vigilant in their regulatory and supervisory roles to forestall any run on banks in their respective jurisdictions. A statement from CBN said,[Read More…]
Firstbank Dedicates Month of March to Celebrate Women
In furtherance of its leading role in promoting the socio-economic inclusion of women in society, First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its dedication of the month of March to the celebration of women across the world, as it commemorates the globally[Read More…]
Export Intervention Loans Now N44bn
The Central Bank of Nigeria’s intervention funds under its Export Facilitation Initiative rose to N44.58bn in October 2022. The bank disclosed this in statements released on its last Monetary Policy Committee meeting in 2022. “Under the Export Facilitation Initiative, the Bank provided support for export-oriented projects to the tune of[Read More…]
Firstbank, Others Partner With Junior Achievement on Africa,s High School Entrepreneurship Competition
FirstBank has partnered with JA Africa on Company of the Year (COY) Competition, Africa’s largest high school entrepreneurship competition scheduled to take place in Lagos, Nigeria from 7th to 9th December under the theme, “Fueling Changemakers.” The JA Africa Company of the Year (COY) Competition which returns for the 12th[Read More…]
Firstbank UK Stands Tall At 40, Appreciates It’s Consumers And Regulators
FBNBank UK, a member of First Bank of Nigeria Limited and Subsidiaries had London, the United Kingdom painted blue as it celebrated its 40th anniversary, themed Partnership Beyond Borders, on Friday, 11 November 2022. The event which had customers, members of government functionaries and the diplomatic community, regulators, captains of[Read More…]
After October Loss, Nigerian Equities Regain Rally With N194bn Gain
After losing a whopping N2.8 trillion in October 2022, Nigerian equities saw a modest recovery in the first week of November as renewed bargain-hunting drove the market to net capital gain of N194 billion at the weekend. Benchmark indices at the Nigerian Exchange (NGX) at the weekend indicated average return[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…]