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….Celebrates Airline For The Commencement of the Lagos-London Route   Fidelity Bank Plc has commended Air Peace’s performance since it commenced flight operations about 10 years ago. Dr. Nneka Onyeali-Ikpe, the Managing Director, Fidelity Bank Plc gave the commendation over the weekend in Lagos during a special event organised for the airline by the bank to celebrate Air Peace for ... Read More »

The Central Bank of Nigeria (CBN) has further reduced the foreign exchange (FX) rate for dollar allocations to bureau de change (BDC) operators. On Tuesday, the CBN, in a circular signed by Hassan Mahmud, director, trade and exchange department, said it sold $10,000 at the rate of N1,021/$ to each BDCS. The circular titled, ‘SALE OF FX TO BDCs TO ... Read More »

Banks are holding a string of meetings to finalise their recapitalisation plans ahead of the April 30 deadline for the submission of their implementation strategies to the Central Bank of Nigeria (CBN). The implementation/ work plan will detail how each of the banks intends to achieve its new minimum capital requirement within the two-year timeline stipulated by the apex bank. ... Read More »

First Bank Board of Directors is in a meeting over the sudden departure of its MD, Dr Adesola Adedutan. The meeting will discuss ways of mitigating the effects of Adedutan’s sudden pre retirement leave which he said should take effect from today. Newsthumb reported exclusively recently that Adedutan conveyed his decision to quit eight months to his scheduled retirement to ... Read More »

UBA America, the United States subsidiary of United Bank for Africa (UBA) Plc hosted diplomats, government officials and business leaders to a networking reception in partnership with the esteemed Business Council for International Understanding (BCIU) and the U.S. Department of States in Washington DC on Monday . The event which was held on the sidelines of the ongoing IMF World ... Read More »

Ecobank Nigeria Limited, a subsidiary of the Ecobank Group, has entered a strategic partnership with Nigeria Chess Federation (NCF) to host the 2024 National Schools’ Team Chess Competition. The competition is scheduled to hold between 24th – 28th May 2024 at the Ecobank Pan African Centre (EPAC) in Victoria Lagos. It is open to students from primary, Secondary and Tertiary ... Read More »

The naira, on Friday, appreciated to N1,150 per dollar at the parallel section of the foreign exchange (FX) market. Currency traders in Lagos, also known as bureau de change (BDCs) operators, quoted the buying rate of the greenback at N1,110 and the selling price at N1,150 — leaving a profit margin of N40. The naira appreciated by 0.86 percent from ... Read More »

 Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange (NGX), this impressive triple-digit growth in gross earnings ... Read More »

…Shareholders’ Funds Hits N2.0tn, achieving an impressive growth of 120.2%. In another unprecedented performance, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2023, showing exceptional and impressive performance across all its major indicators. The 2023 financials, filed by the Bank at Nigerian Exchange Limited (NGx) on ... Read More »

….Revenue Increases By 47.3%, PBT by 93.5%. Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate, announces its financial results for the year ended December 31, 2023. The Group achieved substantial growth in its financial indicators, reinforcing its market leadership and strategic positioning. In its audited results, Transcorp reported significant year-on-year growth, with revenue rising to N197 billion ... Read More »