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ANAN Advises Against Further Naira Devaluation

Mr. Anthony Nzom, the President of the Association of National Accountants of Nigeria (ANAN), has advised the federal government not to further devalue the naira. Nzom said this after what was termed “ANAN Walk Against Corruption for a Healthier Economy and Longevity,’’by more than 2,000 members of the association. “We have to be careful about […]

FBN Pays N2bn TSA’s Fine

FBN Pays N2bn TSA’s Fine

The First Bank of Nigeria Limited says it has paid the N1.877 billion fine imposed on it by the Central Bank of Nigeria (CBN) for its failure to totally comply with regulations regarding the Treasury Single Account (TSA). The apex bank indicted Nigeria’s premier commercial bank for concealing N37,548,198,102.41 belonging to the Nigerian National Petroleum […]

Nigeria Ranked 169 In World Bank’s Latest Report

Nigeria Ranked 169 In World Bank’s Latest Report

Nigeria  is ranked 169 out of 189 countries in the World Bank latest report on the ease of doing business globally. The ranking released yesterday by the bank shows significant improvement by countries through reforms that improve businesses in their countries. Nigeria moved one step up from 170 last year to169 this year. The report […]

Union Bank Sustains Positive Performance

Union Bank Sustains Positive Performance

Union Bank sustains positive performance, records N13.17bn PBT in 3rd quarter LAGOS UNION Bank of Nigeria Plc has announced impressive financial performance for the nine month period ended September 30, 2015 with the profit before tax for the period growing to N13.17 billion. This represents 11 per cent increase over N11.89 billion posted in the […]

Zenith Bank Grows 16.9% Profit After Tax

Zenith Bank Grows 16.9% Profit After Tax

Zenith Bank Plc made an N83.087bn profit after tax in the nine months to September 30, 2015. The figure is 16.95 per cent higher than the N71bn PAT it made in the same period of 2014. The group’s financial statements for the period showed that its profit before tax rose by 19.85 per cent from […]

‘Africa Investor Honours Capital Market Regulators, And Investors’

Africa Investor, an international investment and communications group, has honoured African and international business leaders, regulators and institutional investors for their roles in developing the market. In recognition of their contributions, the group presented awards to them at the Ai Institutional Investment and Capital Market Awards, which was held in New York on Friday, a […]

Nigerian Firms In Trouble As Central Bank Measures Backfire

Abuja – Nigerian companies making anything from soap to tomato paste could run out of raw materials and be forced to shut down as Africa’s top oil producer has effectively banned the import of almost 700 goods to prevent a currency collapse. Selected luxury items such as make-up or brown bread imported from Europe have […]

Nigerian Banks Experiencing Dollar Shortage

Nigerian Banks Experiencing Dollar Shortage

Nigerian banks are still experiencing shortage of dollar and other foreign currencies despite the Central Bank of Nigeria’s recent attempt to boost liquidity in the banking system, global rating agency, Fitch Ratings, has said. Specifically, Fitch said the Tuesday’s decision by the CBN Monetary Policy Committee to cut the Cash Reserve Requirements on public and […]

CBN Boss May Resign Over Buhari’s Order

CBN Boss May Resign Over Buhari’s Order

The possible resignation of the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, should not come as a surprise to Nigerians. A source told DAILY POST on Wednesday that the boss of the apex bank was getting tired of the approach of President Muhammadu Buhari to fiscal and monetary issues. “There are possibilities of Emefiele […]

Heritage Bank Integrates With Enterprise Bank

Heritage Bank Integrates With Enterprise Bank

The Chairman, Board of Directors, Heritage Bank Limited, Mr. Akinsola Akinfemiwa, says the bank is set for a seamless operation following the completion of the merger between Heritage Banking Company Limited and Enterprise Bank Limited Akinfemiwa said the bank had integrated its “process, technology, people, and branch networks” to pave way for an efficient banking […]

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