Business

Ecobank Nigeria and FBN Holdings Plc have reported Non-Performing Loan (NPL) above the Central Bank of Nigeria (CBN)’s five per cent threshold for banks operating in the country. Though both Tier-1 banks for the half year ended June 30, 2022, recorded decline in NPL ratio, yet it is above the CBN requirement, Westernpost can report. According to Westernpost findings, Ecobank…

The International Air Transportation Association (IATA) says foreign airlines’ funds being withheld in Nigeria increased from $450 million in May to $464 million in July. IATA said this in a series of tweets on Thursday. The figure grew by $14 million from the $450 million said to be withheld in May. The international association said Nigeria’s position towards the repatriation…

Ending three consecutive sessions of loss, the equities market of the Nigerian Exchange Limited (NGX) yesterday staged a rebound as the market capitalisation gained N43 billion amid renewed bargain hunting. In summary, the NGX All-Share Index (ASI) grew by 80.03 basis points or 0.16 per cent, to close at 49,709.46 basis points from 49,629.43 basis points it opened for trading,…

The equities market of the Nigerian Exchange Limited (NGX) on Monday started the week’s trading with mixed sentiments as losses in Presco and 16 others drove the market lower. The NGX All Share Index (ASI) decreased by 34.64 basis points or 0.07 per cent to close at 49,629.43 points. Similarly, the market capitalisation lost N18 billion to close at N26.769…

The Securities and Exchange Commission (SEC) has restated its commitment to the protection of investors in the capital market. Executive Commission Operations of the SEC, Mr. Dayo Obisan stated this when he received a delegation from the Securities and Exchange Commission, Zimbabwe in Abuja on Monday. Obisan stated that the Commission has a robust rule-making process that is meant to…

The National Bureau of Statistics (NBS) on Monday disclosed that the Electricity Distribution Companies (DisCos) generated N761.17billion revenue from customers in 2021, an increase of 44.50 per cent compared to N526.77 billion in 2020. The 11 Discos are: Abuja Electricity Distribution Company, Benin Electricity Distribution Company, Enugu Electricity Distribution Company, Ibadan Electricity Distribution Company, and Jos Electricity Distribution Company. Others…

The equities market of the Nigerian Exchange Limited (NGX) on Monday depreciated by N125billion amid sell pressure from investors. The All Share Index (ASI) decreased by 232.60 absolute points, representing a decline of 0.46 per cent to close at 50,489.73 points. Similarly, the market capitalisation lost N125 billion to close at N27.233 trillion. The downturn was impacted by losses recorded…

The Lagos State Internal Revenue Service (LIRS) has said its Whistle-Blower Initiative will deepen transparency, and accountability and uphold a high standard in the administration of the tax system in the state. The Executive Chairman of the LIRS, Ayodele Subair, at the official launching of the initiative in Lagos on Friday, said the platform was introduced to encourage the reporting…

The stock market of the Nigerian Exchange Limited (NGX) on Wednesday pulled back after the prior day’s rally, bringing the benchmark Index down 0.06 per cent. The NGX All Share Index (ASI) decreased by 31.07 absolute points, representing a dip of 0.06 per cent to close at 50,594.97 points. Similarly, the market capitalisation lost N17 billion to close at N27.284…

FBN Holdings Plc, FCMB group Plc and four other banks generated N17.71billion for maintaining customers’ current account in the first half (H1) of year 2022. This is an increase of 24per cent from N14.27billion generated by these six banks in prior first six months of 2021. The other banks are; Wema Bank Plc, Unity Bank Plc, Sterling Bank Plc and…