FCMB sustains performance with N177.4bn revenue, Achieves 73% profit increase

FCMB Group Plc has released its financial results for the year ended December 31, 2018, reporting a gross revenue of N177.4 billion, an increase of 4.3% compared to the N169.9 billion for the same period in 2017. In addition, profit before tax (PBT) rose by 73% to N18.4 billion as against N11.5 billion in the … Continue reading FCMB sustains performance with N177.4bn revenue, Achieves 73% profit increase

WTO delivers ruling on 15-year-long Boeing vs Airbus rift

The World Trade Organisation (WTO) is set to make its final ruling over subsidies for rival aircraft makers Boeing and Airbus, a dispute that has pitted the United States against the European Union over the past 15 years. The expected WTO verdict will decide whether the U.S. has stopped bolstering Boeing since the Geneva-based trade … Continue reading WTO delivers ruling on 15-year-long Boeing vs Airbus rift

Nigeria Equities market gain momentum… ASI up 1bp


The local bourse slightly upturned at the close of trade today following price appreciation in GUARANTY (+2.5%), PRESCO (+9.7%) and NASCON (+9.9%). As a result, the All Share Index (“ASI”) rose 1bp to 30,833.5 points, YTD return stagnated at -1.9% while market capitalisation increased by N1.5bn to N11.6tn. In the same vain, activity level improved as volume … Continue reading Nigeria Equities market gain momentum… ASI up 1bp


Trump calls for OPEC to boost oil production, says price too high Auto Draft

U.S. President Donald Trump on Thursday called for the Organisation of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity. “Very important that OPEC increase the flow of Oil. World Markets are fragile, price of Oil getting too high. Thank you!” Trump wrote in a post on Twitter. … Continue reading Trump calls for OPEC to boost oil production, says price too high Auto Draft

Nigeria, Ghana private sector operators explore areas of business co-operation

Nigeria and Ghana private sector operators are set to explore more areas of business opportunities to further strengthen relations between both countries Ghanaian High Commissioner to Nigeria, Mr Rashid Bawa, said. Bawa said the delegation from the Secondi-Takoradi Chamber of Commerce and Industry (STCCI) had visited the Lagos Chamber of Commerce and Industry and was … Continue reading Nigeria, Ghana private sector operators explore areas of business co-operation

Emirates celebrates the Spirit of Africa with latest Brand campaign

Emirates has launched a pan-African brand advertising campaign that celebrates the talent and achievements of young Africans, taking the message of ‘New Africa’ to the world. The campaign also features an original music video produced by Kenyan musician and DJ Blinky Bill, inspired by contemporary African electronic club music. Paying tribute to a new generation … Continue reading Emirates celebrates the Spirit of Africa with latest Brand campaign

Something Easy Is Here! Your Phone Number Is Your Account Number!

Leading Lender, First City Monument Bank (FCMB) has taken another major leap in the retail and mobile banking segments of the Nigerian financial services industry. It has launched a new product called FCMB Easy Account. Described as banking made accessible to all, a significant and value-added feature of this product is that the telephone numbers of the customers, … Continue reading Something Easy Is Here! Your Phone Number Is Your Account Number!

FG, States, LGs share N619.85bn February revenues allocation

Federal, States and Local governments, the three tiers of government in the country shared a total of N619.85 billion as revenue allocation from the federation account. The Accountant-General of the Federation (AGF), Mr Ahmed Idris, represented by the Director of Funds, Office of the AGF, Mr Mohammed Usman, said this at a news conference at … Continue reading FG, States, LGs share N619.85bn February revenues allocation

Naira will gain value after CBN rate cut

Indications are that the Naira will strengthen more after the Central Bank of Nigeria Monetary Policy in a surprise twist cut its benchmark monetary policy rate. Economist have said that going by the fact that crude oil prices has gone up to hover around $70 a barrel and the flow of portfolio investment into the … Continue reading Naira will gain value after CBN rate cut

FG to harmonise production in oil sector

The Federal Government has set up a committee to harmonise oil and gas revenue and production data of government earnings from all sectors of the economy. Mr Tim Okon, Technical Adviser to the Minister of state for petroleum Resources Dr Ibe Kachikwu at the inaugural meeting of the committee in Abuja, said they would ensure … Continue reading FG to harmonise production in oil sector

CAC registers 3,098,193 companies in 28 years

The Corporate Affairs Commission (CAC)  said it had registered 3,098,193 companies and firms in Part A, B and C categories from its inception in 1990 to March 21. The Acting Registrer General of CAC, Mrs Azinge Azuka disclosed this at the commission customers forum in Abuja. Azuka said that in the last three years, the … Continue reading CAC registers 3,098,193 companies in 28 years

Domestic Equities sustain Bearish run… ASI Down 67bps


Sell pressures in the Banking stocks – GUARANTY (-3.7%), STANBIC (-5.2%) and FBNH (-2.4%) – dragged the benchmark index 67bps lower to settle at 30,829.45 points while the YTD return worsened to -1.9%. Accordingly, investors lost N78.7bn in value as market capitalisation fell to N11.6tn. Activity level declined as volume and value traded dipped 8.5% … Continue reading Domestic Equities sustain Bearish run… ASI Down 67bps


US govt applauds Obaseki’s economic reforms, fight against human trafficking

The Charge d’ Affairs and Deputy Chief of Missions United States (US) Embassy in Abuja, David Young, has applauded the Edo State Government’s unrelenting and well-articulated efforts in creating jobs for youths as well as initiatives to curb human trafficking and illegal migration in the state. Young, who made the submission during a courtesy visit … Continue reading US govt applauds Obaseki’s economic reforms, fight against human trafficking

AfDB, Tony Elumelu Foundation, partner to support African youths

African Development Bank (AfDB) and the Tony Elumelu Foundation have signed a Letter of Intent to accelerate youth entrepreneurship across Africa. The Senior Communications Officer of AfDB, Mr Chawki Chahed made this known in a statement in Abuja. Chahed said the partnership would bring about future collaboration focused on strengthening small to medium sized enterprises, … Continue reading AfDB, Tony Elumelu Foundation, partner to support African youths

CBN reduces monetary policy rate to 13.5%

Monetary Policy Committee of the Central Bank of Nigeria, CBN, on Tuesday reduced the Monetary Policy Rate from 14 per cent to 13.5 per cent. The CBN Governor, Mr. Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja. He explained that … Continue reading CBN reduces monetary policy rate to 13.5%