Nigeria will be able to lift its country’s crude oil for export immediately the national fleet comes into operation, the Director General of NIMASA, Dr Dakuku Peterside, has said. Dakuku, who was speaking at a media breakfast meeting on the sidelines of the ongoing Nor Shipping Conference and Exhibition in Oslo, Norway, said such an […]

Four customers of First City Monument Bank have won N1m each at the first draws of Season 6 FCMB savings reward scheme tagged ‘Millionaire Promo’, which took place nationwide. A statement from the bank said some other customers won various prizes like LED televisions, generators, decoders, tablets and smartphones, among others. It stated that the […]

Sterling Bank Plc says it has committed 10 per cent of its total loan portfolio to the finance of agriculture in recognition of the significant contribution that the sector is capable of making to the growth of the Nigerian economy. In a statement from the bank, the Group Head, Agriculture Finance and Solid Minerals, Sterling […]

Chief executives of insurance companies have held an emergency meeting over some requirements in the new recapitalisation circular issued to the underwriters by the National Insurance Commission. The PUNCH learnt that the underwriters had also decided to send a delegation to NAICOM to give some considerations in implementing the recapitalisation of the sector. The three major […]

FBNInsurance Limited, one of the life insurance companies in Nigeria, said it paid N4.8bn claims to its policyholders in the 2018 financial period. A statement quoted the company as saying this during its annual general meeting in Lagos. The Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, stated that the company closed the year with […]

The total assets and liabilities of banks stood at N38.40tn at end-February 2019, representing 3.2 per cent increase above the level at end-December 2018. The total assets and liabilities of commercial banks stood at N37.14tn at the end of November 2018. According to the figures obtained from the Central Bank of Nigeria’s first quarter report […]

Capital market operators have called for urgent intervention of the Federal Government in the conflict between the Securities and Exchange Commission and Oando Plc. They made the call on Wednesday in separate interviews, the News Agency of Nigeria reported. They reacted to the outcome of a forensic audit of Oando released by SEC last week […]

Wema Bank, Nigeria’s oldest surviving indigenous bank, shows steady improvements in profitability as the commercial bank leverages heritage and technologies to deepen customer base and reduce risks Wema Bank recorded strong growths in the top-line and bottom-line in the first quarter, sustaining a trend that has seen the commercial bank within the league of fastest […]

Shareholders yesterday knocked the Securities and Exchange Commission (SEC) for punishing Oando Plc. They queried the regulator’s powers to impose such sanctions, claiming that its actions would harm the firm, damage shareholders’ investment and weaken market confidence. On Friday, SEC announced the conclusion of the investigation of Oando and barred its Group Chief Executive Officer […]

  May & Baker Nigeria Plc says it has invested additional capital of N1.86bn raised recently in a right issue in its business to create enhanced opportunities for sustained growth and boos shareholder returns. The Chairman of the company, Lt.-Gen. Theophilus Danjuma (retd), said the company had committed N541.3m to construct a dedicated plant for […]