Business

Total Assets up by 37.2% to N28.3 trn Customer Deposits hits N23.2 trillion, climbs 34%, makes profit before tax of N401.6bn  United Bank for Africa (UBA) Plc has released its audited financial results for the half year ended June 30, 2024, showing impressive performance across some key financial indicators. The audited financials released to the Nigerian Exchange Limited (NGX) on…

Nigeria’s currency in circulation increased to N4.14 trillion in August 2024, about 2.25per cent increase from N4.05 trillion reported by the Central Bank of Nigeria (CBN) in July 2024. The breakdown showed that January 2024 began with the currency in circulation at N3.65 trillion. This stable figure indicated a moderate start to the year, aligning with typical post-holiday economic activities.…

In a demonstration of its commitment to community support, Access Holdings Plc (‘the Group’), leading African financial group, has announced a donation of over N1 billion to assist with relief and recovery efforts in Maiduguri, through its banking vertical – Access Bank Plc. The announcement was made during a visit of the Group’s delegates, led by Bolaji Agbede, Acting Group…

Stakeholders, including government officials, experts, and Civil Society Organizations (CSOs), have called for enhanced strategies to address climate change and air pollution while creating a more affordable and resilient energy system aimed at improving the economy and the quality of life. They made this call  at a two day conference of the Renewable Energy and Energy Efficiency Association (Alliance) REEEA-A …

The Chief Executive Officer, NGX Limited, Mr. Jude Chiemeka has revealed that the Exchange has successfully supported in capital raising N5.7 trillion across multiple asset classes in in nine months of 2024. He stated that the capital raising exercise is backed by the application of cutting-edge technology and robust market infrastructure. Speaking recently to capital market community at C &…

Access Bank Plc has successfully satisfied all legal and regulatory requirements to complete its acquisition of African Banking Corporation (Tanzania) Limited. With the acquisition now finalised, the entity in Tanzania will operate under the name Access Bank Tanzania Limited, further consolidating Access Bank’s presence in the East African region. This milestone also builds on Access Bank’s recent acquisition of the…

The naira fell to a fresh low against the dollar, shrugging off on a surprise interest-rate increase by Central Bank of Nigeria (CBN) amid ongoing local scarcity of the US currency. The naira slipped to N1,677 against the dollar at the official close on Wednesday, according to FMDQ data, taking its losses since the end of last week to 8.2per…

Dupe Olusola has announced the launch of the Next Generation Foundation, a philanthropic fund dedicated to improving the lives of underserved and vulnerable children through education. With this foundation, Olusola, the Managing Director/CEO of Transcorp Hotels Plc, is extending her lifelong commitment to empowering others, driven by a deep belief in the transformative power of education. The foundation’s vision is…

The National Agency for Science and Engineering Infrastructure (NASENI) is showcasing indigenously developed technological products at the ongoing 19th Abuja International Trade Fair holding at the Abuja Trade and Convention Centre, Umaru Yar’Adua Way, Airport Road, Abuja. This year’s NASENI participation at the annual fair organized by Abuja Chamber of Commerce and Industry (ACCI) is a means to foster its…

The Central Bank of Nigeria, (CBN) in its efforts to providing liquidity to the Bureau De Change (BDC) Operators segment of the foreign exchange market, has approved the sale of $20,OOO.OO. This will be sold to each eligible BDC at the rate of N1,590/$. A statement signed by Acting Director, Trade & Exchange Department of CBN, Dr. W. J. Kanya…