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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 […]

CIAB Changes Its Name

CIAB Changes Its Name

the Committee of Chief Internal Auditors of Banks in Nigeria, a sub-committee of the Bankers’ Committee of the Central Bank of Nigeria, has announced a change in its name. The committee is now to be known as the Association of Chief Audit Executives of Banks in Nigeria, according to a statement by the association. The […]

CBN Gov. Warns Of Possible Economic Crisis In 2016

CBN Gov. Warns Of Possible Economic Crisis In 2016

The nation is likely to face to an economic crisis in 2016 if activities in the agricultural and manufacturing sectors are not revived. These are the words of the Central Bank Governor, Mr Godwin Emefiele, who highlighted some of the observations of the Monetary Policy Committee in Abuja. Mr Emefiele said that concerted efforts must […]

W’Bank How Abacha Loot Was Spent

W’Bank How Abacha Loot Was Spent

A civil society organisation, the Socio-Economic Rights and Accountability Project, has asked the World Bank to disclose how the loot recovered from the late military dictator, Gen. Sani Abacha, was spent. The group wants the World Bank to release to it, documents detailing the projects to which the recovered loot was applied, as well as […]

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