Business

Zenith Bank Plc has reported N177.3billion Non-Performing Loan in 2022 financial year as against N146.1billion reported in 2021 financial year. Oil and gas, general commerce and consumer credit sectors were the driving force behind the lender’s increase in NPL in 2022. The bank announced N4.12trillion gross loans in 2022 from N3.50 trillion in 2021. It witnessed 4.30 per cent NPL…

Billionaire investor, Mr. Femi Otedola has acquired 5.52per cent of Transcorp Corporation Plc shares making him the second largest shareholder of the company. A trade of about 1.5 billion units of Transcrop shares valued at about N2.1 billion crossed at the close of trading on the 11th of April. Another 115 million units of the stocks crossed on the exchange…

Over illegal debits, among other sharp practices by staff, customers who transact businesses with United Bank for Africa Plc (UBA) and Zenith Bank Plc in 2022 claimed a whopping sum of N103.92billion from both leading banks in Nigeria. This is 2.29 per cent decline when compared to N106.35 billion customers claimed from both banks in 2021. Extract from UBA’s 2022…

The Corps Marshal of the Federal Road Safety Corps (FRSC), Mr. Dauda Biu has commended Dangote Industries Limited (DIL) for the adoption and implementation of safety standards in the Road Transport Safety Standardisation Scheme (RTSSS) in the company’s operations. Biu, who stated this in Abuja when he hosted a team from the Dangote Cement Plc, Transport Division, said the significant…

In a special edition celebrating women, Her Network Online, a global inspiration and lifestyle platform, interviewed five executives from a leading Nigerian investment company, Honeywell Group (HGL), about critical issues facing women in the workplace in Africa. Head, of Sustainability and Governance of the company, Yewande Giwa advised leaders to set the right tone at the top to advance equity…

FMDQ Securities Exchange Limited (FMDQ Exchange) has announced the quotation of Flour Mills of Nigeria’s N13.33 billion Series 1 and N51.64 billion Series 2 Commercial Papers (CPs) under its N200billion CP Issuance Programme on the Exchange’s Platform. Flour Mills of Nigeria is a Nigerian food and agro-allied company which evolved from a limited liability company to a publicly traded company,…

In the last trading session of the week, the equities market of the Nigerian Exchange Limited (NGX) on Thursday maintained the bearish trend with a decline of N14 billion ahead of Easter celebration. The NGX All Share Index (ASI) fell by 24.84 basis points or 0.05 per cent, to close at 52,994.13 basis points.  Accordingly, investors lost N14 billion in…

The Information Security Society of Africa -Nigeria (ISSAN), a not-for-profit organization dedicated to the protection of Nigeria’s cyberspace has called on banks and other financial institutions to embark on deliberate efforts to train and retrain their employees to spot cybersecurity red flags. This development according to ISSAN, will help check and reduce the rising wave of cyber-attacks in the country.…

The stock market on Wednesday recorded its third consecutive loss this week, bringing down the benchmark Index by N553billion as investors sold off Airtel Africa and 13 others. The decline puts the index on track for another week of loss. The All Share Index (ASI) decreased by 1,016.42 basis points, representing a dip of 1.88 per cent to close at…

FMDQ Securities Exchange Limited (FMDQ Exchange) has approved the listing of the N187billion Dangote Industries Series 1 (Tranche A & B) and N112.42 billion Series 2 Senior Unsecured Bonds under its N300 billion Debt Issuance Programme on its platform. The Series 1 and 2 bonds were listed on FMDQ Exchange in November 2022 and March 2023, respectively. Dangote Industries Funding…